Exhibit (d)(136)

**Form Of**

**MASTER INTERNATIONAL RESEARCH AGREEMENT**

**between**

**FIDELITY INTERNATIONAL INVESTMENT ADVISORS**

**and**

**FIDELITY MANAGEMENT & RESEARCH COMPANY**

	AGREEMENT made this 1st day of July 2003 by and between Fidelity Management & Research Company, aMassachusetts corporation with principal offices at 82 Devonshire Street, Boston, Massachusetts (hereinafter called the"Advisor") and Fidelity International Investment Advisors, a Bermuda company with principal offices at Pembroke Hall,Pembroke, Bermuda (hereinafter called the "Sub-Advisor").

 	WHEREAS the Advisor has entered into various management contracts (each a "Management Contract") withthose Massachusetts and Delaware business trusts, each a registered investment company issuing one or more series ofshares of beneficial interest (each a "Trust") on behalf of each of their respective portfolios listed on Schedule A attachedhereto, as the same may be amended from time to time (each a "Portfolio"), pursuant to which the Advisor acts asinvestment manager to each of the Portfolios; and

	WHEREAS the Sub-Advisor and its subsidiaries and other affiliated persons have personnel in various locationsthroughout the world and have been formed in part for the purpose of researching and compiling information andrecommendations with respect to the economies of various countries, and securities of issuers located in such countries,and providing investment advisory services in connection therewith;

	WHEREAS, the Sub-Advisor and its subsidiaries and other affiliated persons (including Fidelity InternationalInvestment Advisors  (U.K.) Limited and Fidelity Investments Japan Limited) may provide investment advice andresearch services to Advisor pursuant to a number of individual agreements in respect of each Portfolio; and

	WHEREAS, the Sub-Advisor is willing to provide international investment advice and research services to theAdvisor on behalf of each of the Portfolios listed on Schedule A, to the extent that such Portfolios may invest ininternational assets from time to time, and the Advisor desires that the Sub-Advisor provide such international investmentadvice and research services to the Advisor on behalf of such Portfolios under this Master International ResearchAgreement;

	NOW, THEREFORE, in consideration of the premises and the mutual promises hereinafter set forth,  the Advisorand the Sub-Advisor agree as follows:

	1.  **Delegation of Duties:**The Advisor hereby delegates to the Sub-Advisor, and the Sub-Advisor hereby acceptsresponsibility for performing such investment advice and research services with respect to all or a portion of theinvestments of each Portfolio as may be requested by the Advisor.  The services and the portion of the investments ofeach Portfolio to be advised by the Sub-Advisor shall be as agreed upon from time to time by the Advisor and theSub-Advisor.  The Sub-Advisor shall pay the salaries and fees of all personnel of the Sub-Advisor performing investmentadvice and research services for the Portfolios.

(a)	***Investment Advice and Research Services:***If and to the extent requested by the Advisor, the Sub-Advisorshall provide investment advice and research services, particularly with respect issuers, companies,governments and economic conditions outside of the U.S. and Canada, to the Advisor on behalf of eachPortfolio with respect to all or a portion of the investments of such Portfolio.  In connection with providingsuch investment advice and research services, the Sub-Advisor shall furnish to the Advisor on behalf ofeach Portfolio  such factual information, research reports and investment recommendations as the Advisormay reasonably require.  Such information may include written and oral reports and analyses.

(b)	**S*ubsidiaries and Affiliates*:**  The Sub-Advisor may perform any or all of the services contemplated by thisAgreement directly or through such of its subsidiaries or other affiliated persons as the Sub-Advisor shalldetermine; provided, however, that performance of such services through such subsidiaries or otheraffiliated persons shall have been approved by the affected Trust or Trusts to the extent required pursuantto the Investment Company Act of 1940 Act ("1940 Act") and rules thereunder.

	2.**Information to be Provided to the Trusts and the Advisor:**  The Sub-Advisor shall furnish such reports,evaluations, information or analyses to each Trust and the Advisor as the Trusts' Board of Trustees or the Advisor mayreasonably request from time to time, or as the Sub-Advisor may deem to be desirable.

	3.  **Compensation:**  For investment advisory and research services provided under subparagraph (a) of paragraph1 of this Agreement on behalf of each of the Portfolios listed on Schedule A and in full consideration of the servicesprovided hereunder, the Advisor agrees to pay the Sub-Advisor and the Sub-Adviser agrees to receive an annualaggregate Sub-Advisory Fee of fifty million dollars ($50,000,000).  The aggregate fee shall be allocated amongst each ofthe Portfolios listed on Schedule A, as it may be amended from time to time, based on their relative international netassets.  The Sub-Advisory Fee may be reduced to reflect expense reimbursements, fee waivers or aggregate caps, if any,in effect from time to time upon mutual agreement of the Advisor and the Sub-Advisor.  Notwithstanding the foregoing; aPortfolio that is party to a sub-advisory agreement with the Advisor and the Sub-Adviser for the provision of eitherdiscretionary or non-discretionary services ("FMR/FIIA Sub-Advisory Agreement") shall not  be allocated any portion ofthe aggregate  Sub-Advisory Fee payable hereunder during any period in which such FMR/FIIA Sub-AdvisoryAgreement is in effect and either discretionary or non-discretionary services are being provided thereunder.

	4.  **Expenses:** It is understood that each Portfolio will pay all of its expenses other than those expressly stated to bepayable by the Sub-Advisor hereunder or by the Advisor under the Management Contract with the Portfolio.

	5.  **Interested Persons:**It is understood that Trustees, officers, and shareholders of the Trusts are or may be orbecome interested in the Advisor or the Sub-Advisor as directors, officers or otherwise and that directors, officers andstockholders of the Advisor or the Sub-Advisor are or may be or become similarly interested in the Trusts, and that theAdvisor or the Sub-Advisor may be or become interested in the Trusts as a shareholder or otherwise.

	6.  **Services to Other Companies or Accounts:**  The services of the Sub-Advisor to the Advisor are not to bedeemed to be exclusive, the Sub-Advisor being free to render services to others and engage in other activities, provided,however, that such other services and activities do not, during the term of this Agreement, interfere, in a material manner,with the Sub-Advisor's ability to meet all of its obligations hereunder.  The Sub-Advisor shall for all purposes be anindependent contractor and not an agent or employee of the Advisor or the Trusts.

	7. **Standard of Care:** In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard ofobligations or duties hereunder on the part of the Sub-Advisor, the Sub-Advisor shall not be subject to liability to theAdvisor, the Trusts or to any shareholder of the Portfolios for any act or omission in the course of, or connected with,rendering services hereunder or for any losses that may be sustained in the purchase, holding or sale of any security.

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

	(a)	Subject to prior termination as provided in subparagraph (d) of this paragraph 8, this Agreement shallcontinue in force until June 30, 2004 for each Portfolio designated as a Fixed-Income Portfolio on ScheduleA and until July 31, 2004 for each Portfolio designated as a Equity Portfolio on Schedule A and indefinitelythereafter, but only so long as the continuance after such period shall be specifically approved at leastannually by vote of the affected 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 the Advisor, the Sub-Advisor and the affectedTrust(s) subject to the provisions 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 orregulations adopted by, or interpretative releases of, the Commission.

	(c)	In addition to the requirements of subparagraphs (a) and (b) of this paragraph 8, the terms of anycontinuance or modification of this Agreement must have been approved by the vote of a majority of thoseTrustees of the affected Trust(s) who are not parties to this Agreement or interested persons of any suchparty, cast in person at a meeting called for the purpose of voting on such approval.

	(d)	The Advisor may, at any time and without any prior written notice to the other parties to this Agreement andthe Board of Trustees of the affected Trust(s), terminate this Agreement in respect of any or all of thePortfolios, without payment of any penalty.  A Trust may at any time on sixty (60) days' prior written noticeto the parties to this Agreement, terminate this Agreement in respect of such Trust  or a Portfolio, withoutpayment of any penalty, by action of the Board of Trustees of the affected Trust or by vote of a majority ofthe Portfolio's outstanding voting securities.  This Agreement shall terminate automatically in the event ofits assignment.

	9.  **Limitation of Liability:**  The Sub-Advisor is hereby expressly put on notice of the limitation of shareholderliability as set forth in the Declaration of Trust or other organizational document of each Trust and agrees that anyobligations of the Trusts or the Portfolios arising in connection with this Agreement shall be limited in all cases to theTrust or Portfolio and its assets, and the Sub-Advisor shall not seek satisfaction of any such obligation from theshareholders or any shareholder of the Trust or Portfolio.  Nor shall the Sub-Advisor seek satisfaction of any suchobligation from the Trustees or any individual Trustee of any Trust.

	10.  **Governing Law:**  This Agreement shall be governed by, and construed in accordance with, the laws of theCommonwealth of Massachusetts, without giving effect to the choice of laws provisions thereof.

	The terms "registered investment company," "vote of a majority of the outstanding voting securities,""assignment," and "interested persons," when used herein, shall have the respective meanings specified in the 1940 Act asnow in effect or as hereafter amended.

	IN WITNESS WHEREOF the parties hereto have caused this instrument to be signed in their behalf by theirrespective officers thereunto duly authorized, and their respective seals to be hereunto affixed, all as of the date writtenabove.