SUB-ADVISORY AGREEMENT 

between 

FIDELITY INVESTMENTS JAPAN LIMITED 

and 

FIDELITY INTERNATIONAL INVESTMENT ADVISORS 

AGREEMENT as of the 17th day of September, 2008, by and betweenFidelity International Investment Advisors, a Bermuda company with principaloffices at Pembroke Hall, 42 Crow Lane, Pembroke, HM 19, Bermuda (hereinaftercalled the "Sub-Advisor"), and Fidelity Investments Japan Limited, a Japanesecompany with principal offices at Shiroyama JT Trust Tower, 3-1, Toranomon4-chome, Minato-Ku, Tokyo, Japan 105-6019 (hereinafter called the "JapanSub-Advisor"). 

****WHEREAS, Fidelity Management & Research Company, aMassachusetts corporation (hereinafter called the "Advisor"), has entered into aManagement Contract with Fidelity Investment Trust, a Massachusetts businesstrust which may issue one or more series of shares of beneficial interest(hereinafter called the "Trust"), on behalf of Fidelity Series Emerging MarketsFund (hereinafter called the "Portfolio"), pursuant to which the Advisor hasagreed to act as investment advisor to the Portfolio; and 

WHEREAS, the Sub-Advisor has entered into a Sub-Advisory Agreementwith the Advisor (the "Sub-Advisory Agreement") pursuant to which theSub-Advisor, directly or through certain of its subsidiaries or other affiliatedpersons, shall provide investment advice or investment management and orderexecution services to the Portfolio; and 

WHEREAS, the Japan Sub-Advisor has personnel in Japan and has beenformed in part for the purpose of researching and compiling information andrecommendations with respect to the economies of various countries, andsecurities of issuers located outside of North America, principally in Japan andthe Far East; 

NOW, THEREFORE, in consideration of the premises and the mutualpromises hereinafter set forth, the Sub-Advisor and the Japan****Sub-Advisoragree as follows: 

1. *Duties:* The Sub-Advisor may, in its discretion, appointthe Japan Sub-Advisor to perform one or more of the following services withrespect to all or a portion of the investments of the Portfolio, in connectionwith the Sub-Advisor's duties under the Sub-Advisory Agreement. The services andthe portion of the investments of the Portfolio to be advised or managed by theJapan Sub-Advisor shall be as agreed upon from time to time by the Sub-Advisorand the Japan Sub-Advisor. The Japan Sub-Advisor shall pay the salaries and feesof all personnel of the Japan Sub-Advisor performing services for the Portfoliorelating to research, statistical and investment activities. 

(a) *Investment Advice:*If and to the extent requested bythe Sub-Advisor, the Japan Sub-Advisor shall provide investment advice to theSub-Advisor with respect to all or a portion of the investments of thePortfolio, and in connection with such advice shall furnish the Sub-Advisor suchfactual information, research reports and investment recommendations as theSub-Advisor may reasonably require. Such information may include written andoral reports and analyses. 

(b) *Investment Management:* If and to the extent requestedby the Sub-Advisor, the Japan Sub-Advisor shall, subject to the supervision ofthe Sub-Advisor, manage all or a portion of the investments of the Portfolio inaccordance with the investment objective, policies and limitations provided inthe Portfolio's Prospectus or other governing instruments, as amended from timeto time, the Investment Company Act of 1940 (the"1940 Act") and rulesthereunder, as amended from time to time, and such other limitations as theTrust or the Advisor may impose with respect to the Portfolio by notice to theJapan Sub-Advisor. With respect to the portion of the investments of thePortfolio under its management, the Japan Sub-Advisor is authorized to makeinvestment decisions on behalf of the Portfolio with regard to any stock, bond,other security or investment instrument, and to place orders for the purchaseand sale of such securities through such broker-dealers as the Japan Sub-Advisormay select. The Japan Sub-Advisor may also be authorized, but only to the extentsuch duties are delegated in writing by the Sub-Advisor, to provide additionalinvestment management services to the Portfolio, including but not limited toservices such as managing foreign currency investments, purchasing and sellingor writing futures and options contracts, borrowing money, or lending securitieson behalf of the Portfolio. All investment management and any other activitiesof the Japan Sub-Advisor shall at all times be subject to the control anddirection of the Sub-Advisor, the Advisor and the Trust's Board of Trustees.

(c) S*ubsidiaries andAffiliates*: The Japan Sub-Advisor may perform any or all of the servicescontemplated by this Agreement directly or through such of its subsidiaries orother affiliated persons as the Japan Sub-Advisor shall determine; provided,however, that performance of such services through such subsidiaries or otheraffiliated persons shall have been approved by the Trust to the extent requiredpursuant to the 1940 Act and rules thereunder. 

2. *Information to be Provided to the Trust and the Advisor:*The Japan Sub-Advisor shall furnish such reports, evaluations, information oranalyses to the Trust, the Advisor and the Sub-Advisor****as the Trust'sBoard of Trustees, the Advisor or the Sub-Advisor may reasonably request fromtime to time, or as the Japan Sub-Advisor may deem to be desirable. 

3. *Brokerage:* In connection with the services providedunder subparagraph (b) of paragraph 1 of this Agreement, the Japan Sub-Advisorshall place all orders for the purchase and sale of portfolio securities for thePortfolio's account with brokers or dealers selected by the Japan Sub-Advisor,which may include brokers or dealers affiliated with the Advisor, theSub-Advisor or the Japan Sub-Advisor. The Japan Sub-Advisor shall use its bestefforts to seek to execute portfolio transactions at prices which areadvantageous to the Portfolio and at commission rates which are reasonable inrelation to the benefits received. In selecting brokers or dealers qualified toexecute a particular transaction, brokers or dealers may be selected who alsoprovide brokerage and research services (as those terms are defined in Section28(e) of the Securities Exchange Act of l934) to the Portfolio and/or to theother accounts over which the Japan Sub-Advisor, the Sub-Advisor or the Advisorexercise investment discretion. The Japan Sub-Advisor is authorized to pay abroker or dealer who provides such brokerage and research services a commissionfor executing a portfolio transaction for the Portfolio which is in excess ofthe amount of commission another broker or dealer would have charged foreffecting that transaction if the Japan Sub-Advisor determines in good faiththat such amount of commission is reasonable in relation to the value of thebrokerage and research services provided by such broker or dealer. Thisdetermination may be viewed in terms of either that particular transaction orthe overall responsibilities which the Japan Sub-Advisor, the Sub-Advisor or theAdvisor have with respect to accounts over which they exercise investmentdiscretion. The Trustees of the Trust shall periodically review the commissionspaid by the Portfolio to determine if the commissions paid over representativeperiods of time were reasonable in relation to the benefits to the Portfolio.

4. *Compensation:*****The Sub-Advisor shall compensatethe Japan Sub-Advisor on the following basis for the services to be furnishedhereunder. 

(a) *Sub-Advisory Fee*: For services provided undersubparagraph (a) of paragraph 1 of this Agreement, the Sub-Advisor agrees to paythe Japan Sub-Advisor a monthly sub-advisory fee (the "Japan Sub-Advisory Fee").The Japan Sub-Advisory Fee shall be equal to 105% of the Japan Sub-Advisor'scosts incurred in connection with rendering the services referred to insubparagraph 1(a) of this Agreement. The Japan Sub-Advisory Fee shall not bereduced to reflect expense reimbursements or fee waivers by the Sub-Advisor orthe Advisor, if any, in effect from time to time. 

(b) *Investment Management Fee:* For services provided undersubparagraph (b) of paragraph 1 of this Agreement, the Sub-Advisor agrees to paythe Japan****Sub-Advisor a monthly investment management fee****(the"Japan Investment Management Fee"). The Japan Investment Management Fee shall beequal to a percentage of the monthly average net assets of the Portfolio managedby the Japan Sub-Advisor pursuant to subparagraph 1(b) of this Agreement,calculated on a cumulative basis based upon a monthly average of the aggregateof all net assets managed by the Japan Sub-Advisor on behalf of the Sub-Advisorpursuant to sub-advisory arrangements ("Average Group Assets") in accordancewith the following fee schedule: 

, provided that in no event shall the Japan Investment ManagementFee exceed 50% of the sub-advisory fees received by the Sub-Advisor in respectof the Portfolio from the Advisor pursuant to the Sub-Advisory Agreement, andprovided further that, for purposes of calculating the fee rates set forthabove, any assets managed by the Japan Sub-Advisor on behalf of the Sub-Advisorpursuant to a sub-advisory arrangement where a fee cap is being applied toreduce the Japan Sub-Advisor's fee to less than the rates set forth above shallbe excluded from Average Group Assets. 

(c) *Provision of MultipleServices:* If the Japan Sub-Advisor shall have provided both investmentadvisory services under subparagraph (a) and investment management servicesunder subparagraph (b) of paragraph 1 for the same portion of the investments ofthe Portfolio for the same period, the fees paid to the Japan Sub-Advisor withrespect to such investments shall be calculated exclusively under subparagraph(b) of this paragraph 4. 

5. *****Expenses:* It is understood that the Portfoliowill pay all of its expenses other than those expressly stated to be payable bythe Japan Sub-Advisor hereunder, by the Sub-Advisor under the Sub-AdvisorAgreement, or by the Advisor under the Management Contract with the Portfolio.

6. *Interested Persons:* It is understood that Trustees,officers, and shareholders of the Trust are or may be or become interested inthe Advisor, the Sub-Advisor or the Japan Sub-Advisor as directors, officers orotherwise and that directors, officers and stockholders of the Sub-Advisor orthe Japan Sub-Advisor are or may be or become similarly interested in the Trust,and that the Sub-Advisor, the Advisor or the Japan Sub-Advisor may be or becomeinterested in the Trust as a shareholder or otherwise. 

7. *Services to Other Companies or Accounts:*********The services of the Japan Sub-Advisor to the Sub-Advisor are notto be deemed to be exclusive, the Japan Sub-Advisor being free to renderservices to others and engage in other activities, provided, however, that suchother services and activities do not, during the term of this Agreement,interfere, in a material manner, with the Japan Sub-Advisor's ability to meetall of its obligations hereunder. The Japan Sub-Advisor shall for all purposesbe an independent contractor and not an agent or employee of the Advisor, theSub-Advisor or the Trust. 

Nothing in this Agreement will constitute a partnership betweenthe Advisor, the Sub-Advisor, the Japan Sub-Advisor and the Trust. Nothing inthis Agreement makes the Japan Sub-Advisor an agent of the Advisor, Sub-Advisoror the Trust and the Japan Sub-Advisor has no authority whatsoever to exercisediscretionary powers over the global portfolios and investment funds, except asprovided pursuant to paragraph 1(b) herein, of the Advisor, Sub-Advisor and theTrust, or otherwise to bind the Advisor's and the Trust's assets undermanagement. 

The Japan Sub-Advisor shall furnish services as an independentcontractor and not as an employee or agent of either the Advisor, Sub-Advisor orthe Trust. The Japan Sub-Advisor has no power or authority to act for,represent, or bind the Advisor, Sub-Advisor or the Trust or any companyaffiliated with either of them. 

8. *Standard of Care:* In the absence of willful misfeasance,bad faith, gross negligence or reckless disregard of obligations or dutieshereunder on the part of the Japan Sub-Advisor, the Japan Sub-Advisor shall notbe subject to liability to the Sub-Advisor, the Advisor, the Trust or to anyshareholder of the Portfolio for any act or omission in the course of, orconnected with, rendering services hereunder or for any losses that may besustained in the purchase, holding or sale of any security. 

9. *Duration and Termination of Agreement; Amendments:*

(a) Subject to prior termination as provided in subparagraph (d)of this paragraph 9, this Agreement shall continue in force until July 31,2010****and indefinitely thereafter, but only so long as the continuanceafter such period shall be specifically approved at least annually by vote ofthe Trust's Board of Trustees or by vote of a majority of the outstanding votingsecurities of the Portfolio. 

(b) This Agreement may be modified by mutual consent of theAdvisor, the Sub-Advisor, the Japan Sub-Advisor and the Portfolio subject to theprovisions of Section 15 of the 1940 Act, as modified by or interpreted by anyapplicable order or orders of the Securities and Exchange Commission (the"Commission") or any rules or regulations adopted by, or interpretative releasesor no-action letters of, the Commission or its staff. 

(c) In addition to the requirements of subparagraphs (a) and (b)of this paragraph 9, the terms of any continuance or modification of thisAgreement must have been approved by the vote of a majority of those Trustees ofthe Trust who are not parties to this Agreement or interested persons of anysuch party, cast in person at a meeting called for the purpose of voting on suchapproval. 

(d) Either the Advisor, the Sub-Advisor, the Japan Sub-Advisor orthe Portfolio may, at any time on sixty (60) days' prior written notice to theother parties, terminate this Agreement, without payment of any penalty, byaction of its Board of Trustees or Directors, or with respect to the Portfolioby vote of a majority of its outstanding voting securities. This Agreement shallterminate automatically in the event of its assignment. 

10. *Limitation of Liability:*The Japan Sub-Advisor is hereby expressly put on notice of the limitation ofshareholder liability as set forth in the Declaration of Trust or otherorganizational document of the Trust and agrees that any obligations of theTrust or the Portfolio arising in connection with this Agreement shall belimited in all cases to the Portfolio and its assets, and the Japan Sub-Advisorshall not seek satisfaction of any such obligation from the shareholders or anyshareholder of the Portfolio. Nor shall the Japan Sub-Advisor seek satisfactionof any such obligation from the Trustees or any individual Trustee. 

11. *Governing Law:* This Agreement shall be governed by, andconstrued in accordance with, the laws of the Commonwealth of Massachusetts,without giving effect to the choice of laws provisions thereof. 

The terms "registered investment company," "vote of a majority ofthe outstanding voting securities," "assignment," and "interested persons," whenused herein, shall have the respective meanings specified in the 1940 Act as nowin effect or as hereafter amended, and subject to such orders or no-actionletters as may be granted by the Commission or its staff. 

IN WITNESS WHEREOF the parties hereto have caused this instrumentto be signed in their behalf by their respective officers thereunto dulyauthorized, all as of the date written above.