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82 Devonshire Street
Boston MA 02109-3614
617-563-7000

||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||| June 5, 2007

U.S. Securities & Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

Attn: Robb Lamont

RE:	Variable Insurance Products Fund V (the trust):
	FundsManager 60% Portfolio (the fund)
	File Nos. (033-17704) and (811-05361)
	Post-Effective Amendment No. 29

Ladies and Gentlemen:

Pursuant to Rule 8b-16 under the Investment Company Act of 1940, as amended, Regulation S-T and Rule 485(a) under the Securities Act of 1933, as amended, transmitted herewith on behalf of the trust is Post-Effective Amendment No. 29 to the trust's current effective Registration Statement on Form N-1A. This transmission contains a conformed signature page, the manually signed original of which, executed pursuant to Powers of Attorney dated April 1, 2007 and May 17, 2007, is maintained at the offices of the trust.

This filing serves to register VIP FundsManager 60% Portfolio as a new series of the trust. The new fund is introduced through Prospectuses and Statements of Additional Information (SAIs). The fund will have three classes of shares. The fund will be available for investment only by separate accounts of both affiliated and unaffiliated insurance companies to fund, their variable life insurance contracts, and variable annuity contracts.

Please note that the cover page of the Prospectuses and SAIs contain the standard "red herring" legend called for by Rule 481 of Regulation C.

Pursuant to Rule 485(a), the trust elects an effective date of August 19, 2007. We request your comments by July 5, 2007.

Please contact Jamie Plourde at (617) 563-1375 in connection with any questions or comments regarding this filing.

|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||	Sincerely,
	/s/ Melano Theork
	Melano Theork
	Legal Product Group