1. Rafael Febres-Cordero Regulation of financial education: solution or part of the problem? Madrid, 1 October 2007

2. Financial issues concern everybody “ Remember 32 years ago when I told you not to worry your pretty little head about money? Well, I take it back.”

6. Time spent to buy a new car / motorbike Base: Whole sample Question: And when you need to buy a car or a motorbike or a scooter, all in all, how long does it usually take you to make your decision on which product you’re going to buy (totalising taking information, discussing with friends or family members, going to dealers, etc…)? On average… UK 21 days Germany 34 days Netherlands 33 days Spain 36 days Sweden 33 days Portugal 42 days France 31 days Italy 32 days Source : Pan European research on Retirement, Research conducted by TNS Sofres on behalf of Fidelity Investments amongst the General Public aged 18-60 years old in 8 European countries in October/November 2005

7. Time spent to buy a new financial product Base: Own at least one risk financial product Question: And when you decide to buy a new financial product such as stocks, bonds, mutual funds, life insurance, how long does it usually take you to make your choice? On average… UK 12 days Germany 21 days Netherlands 20 days Spain 10 days Sweden 10 days Portugal 9 days France 14 days Italy 14 days Source : Pan European research on Retirement, Research conducted by TNS Sofres on behalf of Fidelity Investments amongst the General Public aged 18-60 years old in 8 European countries in October/November 2005

9. Source: Fidelity Investments analysis, 2004. Not intended to represent the experience of all plans. Age Percent Stock Allocation 90 20 30 40 50 60 70 80 Asset mix optimised for investor life stage Asset Allocation - What we should do 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0%

10. Source: Fidelity Investments analysis, 2004. Not intended to represent the experience of all plans . Age Percent Stock Allocation Asset mix optimised for investor life stage Asset Allocation - What we do instead 90 20 30 40 50 60 70 80 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 0%

17. The impact of planning tools on consumer motivation IMPACT CONSEQUENCE ACTION STEP Review final plan Adjust assumptions and inputs Project results Insert personal data Combination of hope and mastery creates optimism and the desire to take action Offers a way forward Stimulates a sense of mastery Illustrates options Creates a sense of hope Makes a solution tangible Motivates interest and engagement Changes problem from abstract to personal

18. This is how we have done it at Fidelity. A universal concept that is applied differently in each country