SUPPLEMENT TO THE
FIDELITY CONTRAFUND FEBRUARY 19, 1998 PROSPECTUS
Effective the close of business on April 3, 1998, the fund's shares
will no longer be available to new accounts. Shareholders of the fund
on that date may continue to purchase shares in accounts existing on
that date. Investors who did not own shares of the fund on April 3,
1998, generally will not be allowed to purchase shares of the fund
except that new accounts may be established: 1) by participants in
most group employer retirement plans (and their successor plans) in
which the fund had been established as an investment option by April
3, 1998; and 2) for accounts managed on a discretionary basis by
certain registered investment advisors that have discretionary assets
of at least $1 billion invested in mutual funds and have included the
fund in their discretionary account program since April 3, 1998. These
restrictions generally will apply to investments made directly with
Fidelity and investments made through intermediaries. Investors may be
required to demonstrate eligibility to purchase shares of the fund
before an investment is accepted.
