I am an inernational student on F1 VISA. I had fellowship from my university for first 2 quarters of year 2008. I used the stipend money of this fellowship to pay my tution for next 2 quarters. Am I eligible for a tution fee exumption ?

Regards,
Kalpana

On F1 you are exempt from residency for 5-years. You must file non-resident tax return Form 1040NR or 1040NR-EZ and Form 8843. Read: Your U.S. Tax Return: U.S. Tax Filing Requirements for Non-Residents

You do not get tuiton and fee deduction. But the fellowship may not be taxable:
If you are a degree candidate and if the financial aid (includes scholarship and fellowship) is for tuition fee, other fees, books, supplies and equipment, then it is not taxable. For a degree candidate aid for boarding and travel are taxable.
Read scholarship and fellowship grants, Your U.S. Tax Return: The U.S. Income Tax Topics 1