CONTACT: Pembroke Real Estate
Media Relations
(617) 563-5800

BOSTON, November 22, 2005 -- Pembroke Real Estate, the unit of Fidelity Investments that specializes in the acquisition, design, development and management of signature properties worldwide, today announced the appointment of John Moynihan as vice president of global asset management.

Moynihan, who comes to Pembroke with more than 20 years experience in asset, portfolio and property management, oversees the management of assets owned and managed by Pembroke Real Estate.  The company’s current portfolio consists of approximately 2.4 million square feet of commercial space and 17 residential units worldwide, including properties in London, Tokyo, Boston and San Francisco.  He is responsible for managing the operations of all the assets across Pembroke’s portfolio, including leasing activities and the development of hold strategies and buy/sell decisions.  Moynihan reports to David Robson, senior vice president and chief financial officer of Pembroke.

“John’s experience in managing real estate assets and properties will help Pembroke maximize value across our global portfolio and provide a solid foundation from which to pursue new opportunities in our current markets, as well as the newly identified markets of Paris, Brussels, Prague and Washington, D.C.,” said Stephen Bell, president of Pembroke Real Estate.  “John will bring his thoughtful yet opportunistic approach to our long-term, diversified investment strategy, allowing us to earn competitive returns, while also increasing the value of a site and enhancing the local communities.”

Prior to joining Pembroke, Moynihan was director of asset management for Taurus New England Investment Corp. in Boston, responsible for all operations for the firm, including both property and asset management.  From 1996 to 2001, Moynihan was with AEW Capital Management in Boston, serving as a director in the Asset Management group and then as a principal for the Private Equity group.  He held several positions in investment management and asset management for Copley Real Estate Advisors from 1988 to 1996.  Previously, Moynihan served in a variety of financial and asset management capacities at Liberty Real Estate Corporation in Boston.  He began his career at Ernst & Whinney in San Francisco in 1982.

About Pembroke Real Estate
Pembroke Real Estate is the real estate development arm of Fidelity Investments, one of the world’s largest financial services organizations.  The company currently manages signature properties in major metropolitan areas worldwide, including projects in London, Tokyo, San Francisco and Boston.  The firm seeks development opportunities with high-quality, high-profile, well-located properties in the office and residential sectors.  For more information, visit the company’s web site at http://www.pembrokere.com/.

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