FIDELITY CONTRAFUND
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED FEBRUARY 17, 1995
MANAGEMENT CONTRACT. Effective January 1, 1996, FMR agreed to
voluntarily adopt the revised group fee rate schedule shown below for
purposes of calculating the group fee component of the management fee. The
revised schedule provides for lower management fees as total assets under
management increase, and it will be presented to shareholders for approval
at the next shareholder meeting.
The following information r eplaces the "Group Fee Rate" and "Effective
Annual Fee Rate" schedules found on page 20.
GROUP FEE RATE SCHEDULE
EFFECTIVE ANNUAL FEE RATES
Average Group Annualized Group Net Effective Annual Fee
Assets Rate Assets Rate
0 - $ 3 billion .5200% $ 0.5 billion .5200%
3 - 6 .4900 25 .4238
6 - 9 .4600 50 .3823
9 - 12 .4300 75 .3626
12 - 15 .4000 100 .3512
15 - 18 .3850 125 .3430
18 - 21 .3700 150 .3371
21 - 24 .3600 175 .3325
24 - 30 .3500 200 .3284
30 - 36 .3450 225 .3249
36 - 42 .3400 250 .3219
42 - 48 .3350 275 .3190
48 - 66 .3250 300 .3163
66 - 84 .3200 325 .3137
84 - 102 .3150 350 .3113
102 - 138 .3100 375 .3090
138 - 174 .3050 400 .3067
174 - 210 .3000 425 .3046
210 - 246 .2950 450 .3024
246 - 282 .2900 475 .3003
282 - 318 .2850 500 .2982
318 - 354 .2800 525 .2962
354 - 390 .2750 550 .2942
390 - 426 .2700
426 - 462 .2650
462 - 498 .2600
498 - 534 .2550
Over 534 .2500
The following information replaces that found in the section entitled
"Additional Purchase and Redemption Information" beginning on page 14.
7. to shares purchased through Portfolio Advisory Services or Fidelity
Charitable Advisory Services;
10. to shares purchased as part of a payroll deduction program (including
shares purchased in an amount less than $5,000 by participants in the
program within three months of the commencement of their participation in
the program from sources other than payroll deduction) through an employer
who has entered into a load waiver agreement and who (i) maintains an
employee benefit plan that either qualifies for exemption (1) above or is
in the CORPORATEplan for Retirement Program and has at least some of its
plan assets in Fidelity-managed products, or (ii) is a member of the
Fidelity Retail Advisory Group and has more than 500 employees.
CONB-96-1
January 1, 1996
