F U N D P R O F I L E

EDGAR Submission Type: 497K1
Filed pursuant to Rule 497(k) (1) (i)

Fidelity
International Small Cap
Fund

[Effective Date]

This profile summarizes key information about the fund that is included in the fund's prospectus. The fund's prospectus includes additional information about the fund, including a more detailed description of the risks associated with investing in the fund that you may want to consider before you invest. You may obtain the prospectus and other information about the fund at no cost by calling Fidelity at 1-800-544-8544 or visiting Fidelity's web site at www.fidelity.com.

(fidelity_logo_graphic)

82 Devonshire Street, Boston, MA 02109

Investment Summary

Investment Objective

International Small Cap Fund seeks capital appreciation.

Principal Investment Strategies

Fidelity Management & Research Company (FMR)'s principal investment strategies include:

• Normally investing primarily in non-U.S. securities, including securities of issuers located in emerging markets.
• Normally investing at least 80% of assets in securities of companies with small market capitalizations (those with market capitalizations of $5 billion or less).
• Normally investing primarily in common stocks.
• Allocating investments across countries and regions considering the size of the market in each country and region relative to the size of the international market as a whole.
• Using fundamental analysis of each issuer's financial condition and industry position and market and economic conditions to select investments.

Principal Investment Risks

The fund is subject to the following principal investment risks:

• Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.
• Foreign Exposure. Foreign markets, particularly emerging markets, can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile.
• Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole.
• Small Cap Investing. The value of securities of smaller, less well-known issuers can perform differently from the market as a whole and other types of stocks and can be more volatile than that of larger issuers.

An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

When you sell your shares of the fund, they could be worth more or less than what you paid for them.

Performance

Performance history will be available for the fund after the fund has been in operation for one calendar year.

Fee Table

The following table describes the fees and expenses that are incurred when you buy, hold, or sell shares of the fund. The annual fund operating expenses provided below for the fund are based on estimated expenses.

Shareholder fees (paid by the investor directly)

Sales charge (load) on purchases and reinvested distributions	None
Deferred sales charge (load) on redemptions	None
Redemption fee on shares held less than 90 days (as a % of amount redeemed)A	2.00%

^A A redemption fee may be charged when you sell your shares or if your fund balance falls below the balance minimum for any reason, including solely due to declines in the fund's net asset value per share (NAV).

Annual fund operating expenses (paid from fund assets)

Management fee A	0.88%
Distribution and/or Service (12b-1) fees	None
Other expenses A	0.74%
Total annual fund operating expenses B	1.62%

^A Estimated.

^B Effective September ___, 2002, FMR has voluntarily agreed to reimburse the fund to the extent that total operating expenses (excluding interest, taxes, certain securities lending costs, brokerage commissions, and extraordinary expenses, as a percentage of its respective average net assets, exceed 2.00%. This arrangement may be discontinued by FMR at any time.

This example helps you compare the cost of investing in the fund with the cost of investing in other mutual funds.

Let's say, hypothetically, that the fund's annual return is 5% and that your shareholder fees and the fund's annual operating expenses are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated:

1 year	$165
3 years	$511

Fund Management

FMR is the fund's manager. The address of FMR and its affiliates, unless otherwise indicated below, is 82 Devonshire Street, Boston, Massachusetts 02109.

As the manager, FMR is responsible for choosing the fund's investments and handling its business affairs.

Affiliates assist FMR with foreign investments:

• Fidelity Management & Research (U.K.) Inc. (FMR U.K.), at 25 Lovat Lane, London, EC3R 8LL, England, serves as a sub-adviser for the fund. FMR U.K. was organized in 1986 to provide investment research and advice on issuers based outside the United States and may also provide investment advisory services for the fund.
• Fidelity Management & Research (Far East) Inc. (FMR Far East), at Shiroyama JT Mori Bldg., 4-3-1 Toranomon Minato-ku, Tokyo 105, Japan, serves as a sub-adviser for the fund. FMR Far East was organized in 1986 to provide investment research and advice to FMR. FMR Far East may provide investment research and advice on issuers based outside the United States and may also provide investment advisory services for the fund.
• Fidelity International Investment Advisors (FIIA), at Pembroke Hall, 42 Crow Lane, Pembroke HM19, Bermuda, serves as a sub-adviser for the fund. FIIA may provide investment research and advice on issuers based outside the United States and may also provide investment advisory services for the fund.
• Fidelity International Investment Advisors (U.K.) Limited (FIIA(U.K.)L), at 25 Cannon Street, London, England EC4M 5TA, serves as a sub-adviser for the fund. Currently, FIIA(U.K.)L is primarily responsible for choosing certain types of investments for the fund.
• Fidelity Investments Japan Limited (FIJ), at 1-8-8 Shinkawa, Chuo-ku, Tokyo 104-0033, Japan, serves as a sub-adviser for the fund. Currently, FIJ is primarily responsible for choosing certain types of investments for the fund.

FMR Co., Inc. (FMRC) serves as a sub-adviser for the fund. FMRC may provide investment advisory services for the fund. FMRC is an affiliate of FMR.

[LC Kvaal and Tokuya Sano are co-managers of International Small Cap Fund, which they have managed since its inception. Since joining Fidelity in 1994, Mr. Kvaal has worked as a research analyst and manager.]

Buying Shares

The fund's shares are sold without a sales charge.

You may buy shares of the fund after reading this profile or you may request a prospectus to review before investing. If you buy shares after reviewing this profile, Fidelity will send you a prospectus with your confirmation.

The minimum initial purchase amount is $2,500 ($500 for certain retirement accounts), the minimum subsequent purchase amount is $250, and the minimum balance amount is $2,000 ($500 for certain retirement accounts).

If you buy through an investment professional or through a retirement account, certain account features and policies may differ.

Selling Shares

You may sell all or a portion of your shares on any business day by phone, by mail, by wire, or over the Internet through Fidelity's web site. You may also sell shares by exchange to another Fidelity fund. Both accounts must have the same registration, including name, address and taxpayer ID. A signature guarantee may be required in certain circumstances.

In addition, when you sell your shares, you will pay a 2.00% redemption fee (short-term trading fee) if you have held your shares for less than 90 days.

Distributions and Taxes

The fund normally pays dividends and capital gain distributions in December.

You may elect to have your dividends and/or capital gain distributions automatically reinvested in additional shares of the fund, paid in cash, or automatically invested in shares of another identically registered Fidelity fund. If you do not indicate a choice on your application, your distributions will be automatically reinvested. Not all distribution options are available for every account.

Distributions you receive from the fund are subject to federal income tax, and may also be subject to state or local taxes.

For federal tax purposes, the fund's dividends and distributions of short-term capital gains are taxable to you as ordinary income, while the fund's distributions of long-term capital gains are taxable to you generally as capital gains.

Summary of Available Services

Fidelity provides a number of services to its shareholders. Among them are:

• 24 hour telephone assistance, 1-800-544-6666;
• TDD - Service for the Deaf and Hearing-Impaired (9:00 a.m. - 9:00 p.m. Eastern time), 1-800-544-0118;
• Fidelity's web site, www.fidelity.com;
• Fidelity Automated Service Telephone (FAST^®) (an automated service for obtaining account information by phone), 1-800-544-5555;
• Over 75 walk-in Investor Centers nationwide;
• Exchange privileges among Fidelity funds; and
• Regular investment and withdrawal plans.

Fidelity, Fidelity Investments & (Pyramid) Design, and FAST are registered trademarks of FMR Corp.

====================Front of
Application======================

FIDELITY MUTUAL FUND                 (Fidelity Logo Graphic)

NEW ACCOUNT APPLICATION              (registered trademark)

                                     P.O. Box 5000

                                     Cincinnati, OH
45273-8698

You may invest in the fund either after reviewing the

profile(s) for the fund(s) or after requesting and reviewing
the

prospectus(es) and other information for the fund(s).

For help with this application, or for an IRA, Keogh or

Business Account application, call us anytime at
1-800-544-8888.

If you are opening your account by an exchange from an
existing

Fidelity account, call us at 1-800-544-7777.

1: PLEASE TELL US HOW WE SHOULD ESTABLISH YOUR ACCOUNT

____________________________________________________________
__

Account registration:

____________________________________________________________
__

__ Individual  __ Joint Tenants -     __ Custodial

                  Rights of              (UGMA/UTMA)

                  Survivorship 1         Under the (state)

               __ Tenants in Common 1    ____ Uniform

               __ Community Property 1   Gifts/Transfer

                                         to Minors Act

____________________________________________________________
__

/_/ Trust Accounts:

____________________________________________________________
__

Trustee(s) Name                         Trust Taxpayer

(first, MI, last):                      Identification
Number:

____________________________________________________________
__

Name of Trust:    for the benefit of:     Date of Trust

                                          (Month, day,
year):

____________________________________________________________
__

Name:

____________________________________________________________
__

Account Owner/                     Joint Owner/Custodian
Name

Minor Name (first, MI, last):      (first, MI, last):

____________________________________________________________
__

Address and Phone:                  /_/ Check here if this
is

                                        a new address.
____________________________________________________________
__

Street Address and             City           State
Zip

Apartment or Box Number: 2

____________________________________________________________
__

Evening Phone (Home):         Daytime Phone (Work):

(    )                        (    )

____________________________________________________________
__

1 If you are establishing a joint account and do not check a

box, the account will be registered as joint tenants with

rights of survivorship. Types of joint ownership are
governed

by the laws of your state of residence. If you need more

information about which are appropriate in your state,
please

ask your state tax officials or financial advisor.

2 If you have provided a P.O. Box, please include your

residential address with this application.

2: WE ARE REQUIRED TO REQUEST THE FOLLOWING INFORMATION

____________________________________________________________
__

                    Account Owner/Minor   Joint Account
Owner/

                                          Custodian 1

____________________________________________________________
__

Social Security     ___________________
___________________

or taxpayer

identification number 1:

Date of Birth

(month/day/year)    ______ _____ ______   _______ ____
______

____________________________________________________________
__

Citizenship

  Country of

  citizenship:      _U.S. _Other________  _U.S.
_Other_______

  Country of

  tax residence:    _U.S. _Other________  _U.S.
_Other_______

____________________________________________________________
__

Occupation: We

are required by the

National Association

of Securities

Dealers (NASD) to

ask for this

information.

____________________________________________________________
__

Employer's Name

and Address:

____________________________________________________________
__

Affiliations:       _I am affiliated      _I am affiliated

                     with, or work for,    with, or work
for,

                     a member firm of      a member firm of

                     the NASD              the NASD

____________________________________________________________
__

1 The Social Security Number or taxpayer identification
number

for account owner/minor is used for tax reporting purposes.

(The custodian's Social Security Number will be used to

determine eligibility for maintenance fee waivers.)

3: INVESTMENT INFORMATION

____________________________________________________________
__

Please make your check payable to the full name of the

Fidelity fund in which you are investing. Note that Fidelity

cannot accept foreign checks or Traveler's checks. Be sure
to

read the profile(s) or the prospectus(es) for the fund(s)
you

choose before your initial investment and, if you invest
based

on the profile, be sure to read the prospectus(es) when

[it/they] [is/are] sent to you.

Fund Name:               Initial Investment Amount - Fund

                         minimums vary, see the profile or
the

                         prospectus for additional details.

A.______________________ $____,________,________._______

B.______________________ $____,________,________._______

C.______________________ $____,________,________._______

Dividend & Capital Gain Distributions  Check one box: (If no

box is checked, we will reinvest all distributions.)

_ Reinvest all dividends _ Pay all dividends _ Pay all

  and capital gains in     and capital gains   dividends and

  my account.              directly to my      capital gains

                           bank account via    to me by
check.

                           MoneyLine

                           (registered

                           trademark). Please

                           attach a voided

                           check.

____________________________________________________________
__

* Note that some funds may charge a sales load and/or a

short-term trading fee. In addition an annual Fidelity
mutual

fund maintenance fee of $12 may be deducted from accounts
with

a balance of less than $2,500. Minimum initial investments
vary

by fund. See your profile or your prospectus for additional

details.

====================Back of
Application=======================

4: OPTIONAL ACCOUNT FEATURES

____________________________________________________________
__

Fidelity Automatic Account Builder (registered trademark)

This service lets you invest automatically (monthly or

quarterly) from your bank account to your Fidelity account.

Change or cancel your plan anytime with a phone call at
least

one business day before your scheduled investment.
(Automatic

Account Builder normally becomes active 20 days after your

application is processed.)

To establish this feature, complete the information below
and

staple to the left a voided check from your bank account.
One

common name must appear on your Fidelity and bank accounts.

Assign   Investment Amount  Investment Frequency
(month,

to Fund  (Spartan minimum:  (check one)
day,

(from    $500; Non-Spartan
year)

Section  minimum: $100)

3)

__A.     $____,______.____  _Monthly _Quarterly beginning
____

__B.     $____,______.____  _Monthly _Quarterly beginning
____

__C.     $____,______.____  _Monthly _Quarterly beginning
____

Direct Deposit

This service lets you invest directly from your paycheck or

your Social Security check. The minimum investment is $100
per

pay period. To establish this feature, check the appropriate

box below. We will send you an authorization form to
complete

and give to your employer.

_My check is from the  _My check is from someone other than

 federal government.    the federal government.

Transfers Between Your Bank & Fidelity

This electronic link with your bank account offers flexible

access to your money. Transfers occur only when you initiate

them and may be made through either Bank Wire or Fidelity

MoneyLine (Registered trademark). (See the prospectus for

details and minimum amounts. MoneyLine normally becomes

active 20 days after your application is processed.) Your

bank may charge a fee. This feature is not available with

passbook savings accounts.

_ To establish this feature, check the box at left and

staple a voided check from your bank account. One common

name must appear on your Fidelity and bank accounts.  [F3]

Telephone Redemptions & Exchanges

You automatically have the ability to make redemptions or

exchanges by telephone. Exchanges can be made only between

Fidelity funds that have the same account ownership. Each

fund has rules on the number of exchanges allowed each year.

Some funds have administrative fees (of up to $7.50) and

trading fees (of up to 3.0% on exchanges. (See the

appropriate fund's prospectus for details.) The exchange

privilege may be terminated or modified by Fidelity in the

future.

Checkwriting

_Please add this feature to my account. All owners must sign

the Signature Card for checkwriting and the section below at

the end of this application. For custodial accounts, only
the

custodian may sign the Signature Card.

Checkwriting is an optional feature and is not available on

all funds. In addition there may be a charge for
checkwriting.

See prospectus for details.

____________________________________________________________
__

STAPLE VOIDED CHECK HERE.

____________________________________________________________
__

5: SIGNATURE

Each owner must sign this section.

By signing this application, I certify that:

(bullet) I have received and read the profile or the
prospectus

for the fund in which I am investing. [I understand that if
I

am investing based on the profile, I will be sent a
prospectus

with my confirmation.] I agree to the terms of the profile
and

the prospectus. I have the authority and legal capacity to

purchase mutual fund shares, am of legal age and believe
each

investment is suitable for me. It is my responsibility to
read

the prospectus of any fund into which I exchange.

(bullet) I understand that all information provided in
sections

1, 2, 4 and 5 will apply to any new fund into which my
shares

may be exchanged.

(bullet) I understand that neither this fund nor Fidelity

Distributors Corporation is a bank, and fund shares are not

backed or guaranteed by any bank or insured by the FDIC.

(bullet) I ratify any instructions, including telephone

instructions, given on this account. I agree that neither
the

fund nor Fidelity Service Company, Inc. will be liable for
any

loss, cost or expense for acting upon any instructions if it

follows reasonable procedures designed to prevent
unauthorized

transactions. (If you do not want the ability to redeem and

exchange by telephone, call Fidelity for instructions.) I

consent to the use of recorded telephone conversations.

(bullet) I understand that for joint tenant accounts "I"
refers

to all account owners, and each of the account owners agrees

that any account owner has authority to act on the account

without notice to the other account owners. Fidelity Service

Company, Inc. in its sole discretion, and for its
protection,

may require the written consent of all account owners prior
to

acting upon the instructions of any account owner.

(bullet) If I am a U.S. Citizen or Resident Alien, as I have

indicated above, I certify under penalties of perjury that
(1)

the Social Security or taxpayer identification number
provided

above is correct (or I am waiting for a number to be issued
to

me), and (2) I am not subject to backup withholding because
(a)

I am exempt from backup withholding, or (b) I have not been

notified by the Internal Revenue Service (IRS) that I am
subject

to backup withholding for failure to report all dividend and

interest income, or (c) I have been notified by the IRS that
I

am no longer subject to backup withholding. (Please cross
out

item 2 if it does not apply to you.)

(bullet) If I am a Non-Resident Alien, as I have indicated

above, I certify under penalties of perjury that I am not a
U.S.

Citizen or Resident Alien, that the information entered
above

is correct, that if a reduced rate of tax or exemption from
tax

applies, I have complied with all requirements to qualify
for

the reduced tax, and I am an exempt foreign person under IRS

regulations.

The Internal Revenue Service does not require your consent
to any

provision of this document other than the certifications
required

to avoid backup withholding.

Signature of Owner            Signature of Joint Owner

        Date (month,day,year)         Date (month,day,year)

X____________________________
X______________________________

For trusts, all trustees must sign. Only the custodian
should

sign the application for custodial accounts.

Not authorized for distribution unless preceded or
accompanied

by a current profile or prospectus.

61605.001    Fidelity distributors Corporation
MFFK-APP-0998

1.706324.101

===================Front of Signature
Card====================

SIGNATURE CARD FOR CHECKWRITING     ________________________

Please do not detach this card.

Checkwriting is available only for money market funds and

certain bond funds. Checkwriting minimums vary and fees may

apply. See prospectus for more information.

                             Please sign within the boxes

                             below using BLACK BALLPOINT
INK.

Please use a pen and print

clearly in CAPITAL LETTERS.

Owner's Name

(first,MI,last):

____________________________
X________________________________

Joint Owner's Name

(first,MI,last):

____________________________
X________________________________

__Check here if more than one

  signature will be required

  on checks. If this box is

  not checked, only one

  signature will be required

  on checks.
8324100

==================Back of Signature
Card======================

By signing this signature card on the reverse side, the

signatory(ies) agree(s) to be subject to the terms and

conditions, guidelines, and rules applicable to your account

as now in effect and as amended from time to time, of the

fund(s) and of UMB Bank, n.a.. ("the Bank"), as they pertain

to the use of redemption checks; therefore, all registered

owners must sign this signature card. All checks will
require

only one signature unless otherwise indicated on the face of

this card. Each signatory guarantees the genuineness of the

other's signature on this card.

The Bank is hereby appointed agent by the shareholders
signing

 this card and, as such agent, is directed to request
redemption

of shares of such Fidelity fund(s) as designated by the

shareholders from time to time, and as recorded on
Fidelity's

records, upon receipt of, and to the amount of, checks drawn

upon this account(s). In so acting, the Bank shall be liable

only for its own negligence. Shareholders will be subject to

the Bank's rules, regulations and associated laws governing

check collection, including the Uniform Commercial Code as

enacted in the State of Missouri.

It is further agreed as follows:

1. All items, with exception of those drawn on Spartan

(registered trademark) money market funds, Fidelity Daily

Income Trust ("FDIT"), and Fidelity Municipal Money Market

Fund, must be for a minimum of $500 (or such other minimum

amounts as may from time to time be established upon prior

written notice to the shareholders, including the accounts
of

Spartan money market funds, FDIT and Fidelity Municipal
Money

Market Fund), or they may be returned to shareholders marked

"Refer to Maker."

2 This card supersedes any card already on file for the same

T Master Account or fund or account number.

3. Refer to the fund prospectus for minimum check amounts
and

any applicable fees.

4. You may obtain a copy of the "Statement of Terms and

Conditions" applicable to your account by calling Fidelity.