Fidelity Select Fundranker

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TOP EIGHT MODEL PORTFOLIO SEPTEMBER 2008

1. Medical Equipment & Systems (FSMEX)
2. Biotechnology (FBIOX)
3. IT Services (FBSOX)
4. Chemicals (FSCHX)
5. Energy Service (FSESX)
6. Communications Equipment (FSDCX)
7. Retailing (FSRPX)
8. Environmental (FSLEX)

EXCHANGES FOR SEPTEMBER 2, 2008

Sell Materials (FSDPX),
buy Communications Equipment (FSDCX)
Sell Natural Resources (FNARX),
buy Retailing (FSRPX)