Exhibit (m)(38)

DISTRIBUTION AND SERVICE PLAN

FIDELITY INVESTMENT TRUST:  FIDELITY GLOBAL EQUITY INCOME FUND

	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 (the "Act") of Fidelity Global Equity Income Fund (the "Portfolio"), a series ofshares of Fidelity Investment Trust (the "Fund").

	2.	The Fund has entered into a General Distribution Agreement with respect to thePortfolio with Fidelity Distributors Corporation (the "Distributor"), a wholly-owned subsidiaryof Fidelity Management & Research Company (the "Adviser"), under which the Distributor usesall reasonable efforts, consistent with its other business, to secure purchasers for the Portfolio'sshares of beneficial interest ("shares").  Under the agreement, the Distributor pays the expensesof printing 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 thePortfolio for sale to the public.  It is recognized that the Adviser may use its management feerevenues as well as past profits or its resources from any other source, to make payment to theDistributor with respect to any expenses incurred in connection with the distribution of Portfolioshares, including the activities referred to above.

	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 ofshares or who render shareholder support services, including but not limited to providing officespace, equipment and telephone facilities, answering routine inquiries regarding the Portfolio,processing shareholder transactions and providing such other shareholder services as the Fundmay reasonably request.

	4.	The Portfolio will not make separate payments as a result of this Plan to the Adviser, Distributor or any other party, it being recognized that the Portfolio presently pays, and willcontinue to pay, a management fee to the Adviser.  To the extent that any payments made by thePortfolio to the Adviser, including payment of management fees, should be deemed to be indirect financing of any activity primarily intended to result in the sale of shares of the Portfoliowithin the context of Rule 12b-1 under the Act, then such payments shall be deemed to be authorized by this Plan.

	5.	This Plan shall become effective upon the approval by****a vote of a majority of theTrustees of the Fund, including a majority of Trustees who are not "interested persons" of theFund (as defined in the Act) and who have no direct or indirect financial interest in the operationof this Plan or in any agreements related to this 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 from thedate specified above until June 30, 2012, and from year to year thereafter, provided, however,that such continuance is subject to approval annually by a vote of a majority of the Trustees ofthe Fund, including a majority of the Independent Trustees, cast in person at a meeting called forthe purpose of voting on this Plan.  This Plan may be amended at any time by the Board ofTrustees, provided that (a) any amendment to authorize direct payments by the Portfolio to finance any activity primarily intended to result in the sale of shares of the Portfolio, or to increasematerially the amount spent by the Portfolio for distribution, shall be effective only upon approval by a vote of a majority of the outstanding voting securities of the Portfolio, and (b) any material amendments of this Plan shall be effective only upon approval in the manner provided in thefirst sentence in this paragraph.

	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 outstanding voting securities of the Portfolio.

	8.	During the existence of this Plan, the Fund shall require the Adviser and/or Distributor to provide the Fund, for review by the Fund's Board of Trustees, and the Trustees shall review, at least quarterly, a written report of the amounts expended in connection with financingany activity primarily intended to result in the sale of shares of the Portfolio (making estimatesof such costs where necessary or desirable) and the purposes for which such expenditures weremade.

	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 shares of the Portfolio.

	10.	Consistent with the limitation of shareholder liability as set forth in the Fund's Declaration of Trust or other organizational document, any obligations assumed by the Portfolio pursuant to this Plan and any agreements related to this Plan shall be limited in all cases to the Portfolio and its assets, and shall not constitute obligations of any other series of shares of the Fund.

	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.