FIDELITY CAPITAL APPRECIATION FUND
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED DECEMBER 17, 1993
The following information replaces example 8 found in the section entitled
"Additional Purchase and Redemption Information" on page 13.
(8) if you are a current or former Trustee or officer of a Fidelity fund
or a current or retired officer, director, or regular employee of FMR Corp.
or its direct or indirect subsidiaries (a Fidelity Trustee or employee),
the spouse of a Fidelity Trustee or employee, a Fidelity Trustee or
employee acting as custodian for a minor child, or a person acting as
trustee of a trust for the sole benefit of the minor child of a Fidelity
Trustee or employee;
The following information supplements that found in the section entitled
"Additional Purchase and Redemption Information" on page 13.
The sales charges will not apply...
(11) if you are a registered investment adviser (RIA) purchasing for your
discretionary accounts, provided you execute a Fidelity RIA load waiver
agreement which specifies certain aggregate minimum and operating
provisions. This waiver is available only for shares purchased directly
from Fidelity, without a broker, unless purchased through a brokerage firm
which is a correspondent of the National Financial Services Corporation
(NFSC). The waiver is unavailable, however, if the RIA is part of an
organization principally engaged in the brokerage business, unless the
brokerage firm in the organization is an NFSC correspondent;
(12) if you are a trust institution or bank trust department purchasing
for your non-discretionary, non-retirement fiduciary accounts, provided you
execute a Fidelity Trust load waiver agreement which specifies certain
aggregate minimum and operating provisions. This waiver is available only
for shares purchased either directly from Fidelity or through a
bank-affiliated broker, and is unavailable if the trust department or
institution is part of an organization not principally engaged in banking
or trust activities; or
(13) to shares purchased as part of a pension or profit-sharing plan as
defined in Section 401(a) of the Internal Revenue Code that maintains all
of its mutual fund assets in Fidelity mutual funds, provided the plan
executes a Fidelity non-prototype sales charge waiver request form
confir ming its qualification.
CAFB-94-2 June 1, 1994
SUPPLEMENT TO THE
CAPITAL APPRECIATION
FUND PROSPECTUS
DATED DECEMBER 17, 1993
The following information
replaces similar information
found in the section entitled
"Transaction Details," beginning
on page 18.
FDC collects the proceeds from
the fund's 3% sales charge and
may pay a portion of them to
securities dealers who have
sold fund shares, or to others,
including banks and other
financial institutions (qualified
recipients), under special
arrangements in connection
with FDC's sales activities.
The sales charge paid to
qualified recipients is 2.25% of
the fund's offering price.
T he following information
supplements that information
found in the section entitled
"Sales Charge Reductions and
Waivers," beginning on page
21.
7. If you are a current or
former trustee or officer of a
Fidelity fund or a current or
retired officer, director, or
regular employee of FMR Corp.
or its direct or indirect
Subsidiaries (a Fidelity Trustee
or employee), the spouse of a
Fidelity trustee or employee, a
Fidelity trustee or employee
acting as custodian for a minor
child, or a person acting as a
trustee of a trust for the sole
benefit of the minor child of a
Fidelity trustee or employee.
10. If you are a registered
investment adviser (RIA)
purchasing for your
discretionary accounts,
provided you execute a Fidelity
RIA load waiver agreement
which specifies certain
aggregate minimum and
operating provisions. Except
for correspondents of National
Financial Services Corporation,
this waiver is available only for
shares purchased directly from
Fidelity, and is unavailable if
the RIA is part of an
organization principally
engaged in the brokerage
business.
11. If you are a trust institution
or bank trust department
purchasing for your
non-discretionary,
non-retirement fiduciary
accounts, provided you execute
a Fidelity Trust load waiver
agreement which specifies
certain aggregate minimum and
operating provisions. This
waiver is available only for
shares purchased either
directly from Fidelity or through
a bank affiliated broker, and is
unavailable, if the trust
department or institution is part
of an organization not
principally engaged in banking
or trust activities.
12. If you invest through a
non-prototype pension or
profit-sharing plan that
maintains all of its mutual fund
assets in Fidelity mutual funds,
provided the plan executes a
Fidelity non-prototype sales
charge waiver request form
confirming its qualification.
These waivers must be
qualified through FDC in
advance. More detailed
information about waivers (1),
(2), (5), (9), and (10), is
contained in the Statement of
Additional information. A
representative of your plan or
organization should call Fidelity
for more information.
SUPPLEMENT TO THE
CAPITAL APPRECIATION
FUND PROSPECTUS
DATED DECEMBER 17, 1993
The following information
replaces similar information
found in the section entitled
"Transaction Details," beginning
on page 18.
FDC collects the proceeds from
the fund's 3% sales charge and
may pay a portion of them to
securities dealers who have
sold fund shares, or to others,
including banks and other
financial institutions (qualified
recipients), under special
arrangements in connection
with FDC's sales activities.
The sales charge paid to
qualified recipients is 2.25% of
the fund's offering price.
T he following information
supplements that information
found in the section entitled
"Sales Charge Reductions and
Waivers," beginning on page
21.
7. If you are a current or
former trustee or officer of a
Fidelity fund or a current or
retired officer, director, or
regular employee of FMR Corp.
or its direct or indirect
Subsidiaries (a Fidelity Trustee
or employee), the spouse of a
Fidelity trustee or employee, a
Fidelity trustee or employee
acting as custodian for a minor
child, or a person acting as a
trustee of a trust for the sole
benefit of the minor child of a
Fidelity trustee or employee.
10. If you are a registered
investment adviser (RIA)
purchasing for your
discretionary accounts,
provided you execute a Fidelity
RIA load waiver agreement
which specifies certain
aggregate minimum and
operating provisions. Except
for correspondents of National
Financial Services Corporation,
this waiver is available only for
shares purchased directly from
Fidelity, and is unavailable if
the RIA is part of an
organization principally
engaged in the brokerage
business.
11. If you are a trust institution
or bank trust department
purchasing for your
non-discretionary,
non-retirement fiduciary
accounts, provided you execute
a Fidelity Trust load waiver
agreement which specifies
certain aggregate minimum and
operating provisions. This
waiver is available only for
shares purchased either
directly from Fidelity or through
a bank affiliated broker, and is
unavailable, if the trust
department or institution is part
of an organization not
principally engaged in banking
or trust activities.
12. If you invest through a
non-prototype pension or
profit-sharing plan that
maintains all of its mutual fund
assets in Fidelity mutual funds,
provided the plan executes a
Fidelity non-prototype sales
charge waiver request form
confirming its qualification.
These waivers must be
qualified through FDC in
advance. More detailed
information about waivers (1),
(2), (5), (9), and (10), is
contained in the Statement of
Additional information. A
representative of your plan or
organization should call Fidelity
for more information.
CAF-94-2 June 1, 1994
CAF-94-2 June 1, 1994
