Exhibit (m)(23)

FORM OF

DISTRIBUTION AND SERVICE PLAN

FIDELITY INVESTMENT TRUST: FIDELITY INTERNATIONAL SMALL CAP FUND

Fidelity Advisor International Small Cap Fund Institutional Class Shares

	1.	This Distribution and Service Plan (the "Plan"), when effective in accordance withits terms, shall be the written plan contemplated by Rule 12b-1 under the Investment CompanyAct of 1940, as amended (the "Act") for Fidelity Advisor International Small Cap FundInstitutional Class Shares of Fidelity International Small Cap Fund ("Institutional Class"), a classof shares of Fidelity International Small Cap Fund******(the "Fund"), a series of Fidelity InvestmentTrust (the "Trust").

	2.	The Trust has entered into a General Distribution Agreement on behalf of the Fundwith Fidelity Distributors Corporation (the "Distributor") under which the Distributor uses allreasonable efforts, consistent with its other business, to secure purchasers for the Fund's sharesof beneficial interest ("Shares").  Under the agreement, the Distributor pays the expenses ofprinting and distributing any prospectuses, reports and other literature used by the Distributor,advertising, and other promotional activities in connection with the offering of Shares of theFund for sale to the public.  It is recognized that Fidelity Management & Research Company (the"Adviser") may use its management fee revenues as well as past profits or its resources from anyother source, to make payment to the Distributor with respect to any expenses incurred inconnection with the distribution of Institutional Class Shares, including the activities referred toabove.

	3.	The Adviser directly, or through the Distributor, may, subject to the approval of theTrustees, make payments to securities dealers and other third parties who engage in the sale ofInstitutional Class Shares or who render shareholder support services, including but not limitedto providing office space, equipment and telephone facilities, answering routine inquiriesregarding the Fund, processing shareholder transactions and providing such other shareholderservices as the Trust may reasonably request.

	4.	The Institutional Class will not make separate payments as a result of this Plan tothe Adviser, Distributor or any other party, it being recognized that the Fund presently pays, andwill continue to pay, a management fee to the Adviser.  To the extent that any payments made bythe Fund to the Adviser, including payment of management fees, should be deemed to be indirectfinancing of any activity primarily intended to result in the sale of Institutional Class Shareswithin the meaning of Rule 12b-1, then such payments shall be deemed to be authorized by thisPlan.

	5.	This Plan shall become effective upon the approval by a vote of a majority of theTrustees of the Trust, including a majority of Trustees who are not "interested persons" of theTrust (as defined in the Act) and who have no direct or indirect financial interest in the operationof this Plan or in any agreement related to the Plan (the "Independent Trustees"), cast in personat a meeting called for the purpose of voting on this Plan.

	6.	This Plan shall, unless terminated as hereinafter provided, remain in effect untilApril 30,  200_, and from year to year thereafter, provided, however, that such continuance issubject to approval annually by a vote of a majority of the Trustees of the Trust, including amajority of the Independent Trustees, cast in person at a meeting called for the purpose of votingon this Plan.  This Plan may be amended at any time by the Board of Trustees, provided that (a)any amendment to authorize direct payments by the Institutional Class to finance any activityprimarily intended to result in the sale of Institutional Class Shares, to increase materially theamount spent by the Institutional Class for distribution, shall be effective only upon approval bya vote of a majority of the outstanding voting securities of the Institutional Class and (b) anymaterial amendments of this Plan shall be effective only upon approval in the manner providedin the first sentence in this paragraph 6.

	7.	This Plan may be terminated at any time, without the payment of any penalty, byvote of a majority of the Independent Trustees or by a vote of a majority of the outstandingvoting securities of the Institutional Class.

	8.	During the existence of this Plan, the Trust shall require the Adviser and/orDistributor to provide the Trust, for review by the Trustees, and the Trustees shall review, at leastquarterly, a written report of the amounts expended in connection with financing any activityprimarily intended to result in the sale of Institutional Class Shares (making estimates of suchcosts where necessary or desirable) and the purposes for which such expenditures were made.

	9.	This Plan does not require the Adviser or Distributor to perform any specific typeor level of distribution activities or to incur any specific level of expenses for activities primarilyintended to result in the sale of Institutional Class Shares.

	10.	Consistent with the limitation of shareholder liability as set forth in the Trust'sDeclaration of Trust or other organizational document, any obligation assumed by InstitutionalClass pursuant to this Plan and any agreement related to this Plan shall be limited in all cases toInstitutional Class and its assets and shall not constitute an obligation of any shareholder of theTrust or of any other class of the Fund, series of the Trust or class of such series.

	11.	If any provision of this Plan shall be held or made invalid by a court decision,statute, rule or otherwise, the remainder of the Plan shall not be affected thereby.