A.M. Best Assigns Ratings to Fidelity Investments Life Insurance Company and Its Subsidiary

Business Wire, April 1, 2008

OLDWICK, N.J. -- A.M. Best Co. has assigned issuer credit ratings (ICR) of "aa-" and affirmed the financial strength rating (FSR) of A (Superior) of Fidelity Investments Life Insurance Company (FILI) (Salt Lake City, UT) and its wholly owned subsidiary, Empire Fidelity Investments Life Insurance Company (EFILI) (New York, NY). The outlook for all ratings is stable.

The ratings are based upon FILI's consistently positive statutory earnings, strong risk-adjusted capitalization and the significant benefits the company enjoys as a wholly owned subsidiary of FMR LLC., collectively known as Fidelity Investments (Fidelity). In addition, FILI has capitalized on its strong name brand recognition in the annuity and retirement business segment, with new product offerings sold through multiple distribution channels, leading to growth in its variable annuity business in recent years.

Partially offsetting these rating factors are FILI's still moderate scale in its separate account business, its narrow business profile concentrated on retirement planning, primarily through the sale of variable annuities and the resulting exposure to equity market fluctuations due to this concentration. A.M. Best believes FILI will continue to be challenged by competition from highly rated, diversified life insurers, which also are targeting the same retirement customer segment. A.M. Best also notes that by improving the scale in its separate account business, FILI may improve its overall earnings performance both on a statutory and GAAP basis.

For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.> Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.