SUPPLEMENT TO THE
SPARTAN(Registered trademark) NEW JERSEY
MUNICIPAL MONEY MARKET
PORTFOLIO PROSPECTUS
DATED DECEMBER 13, 1993
The following information
replaces that which is found
under the subheading "Annual
fund operating expenses" on
page 5.
ANNUAL FUND OPERATING
EXPENSES are paid out of the
fund's assets. The fund pays a
management fee to FMR.
Expenses are factored into the
fund's share price or dividends
and are not charged directly to
shareholder accounts (see
page 21).
The following are projections
based on historical expenses,
and are calculated as a
percentage of average net
assets.
Management fee (after
reimbursement) .30 %
12b-1 fee None
Other expenses .00 %
Total fund operating expenses
.30 %
EXAMPLES: Let's say,
hypothetically, that the fund's
annual return is 5% and that its
operating expenses are exactly
as just described. For every
$1,000 you invested, here's
how much you would pay in
total expenses after the
number of years indicated, first
assuming that you leave your
account open, and then
assuming that you close your
account at the end of the
period:
Account open Account
closed
After 1 year $3 $8
After 3 years $10 $15
After 5 years $17 $22
After 10 years $38 $43
These examples illustrate the
effect of expenses, but are not
meant to suggest actual or
expected costs or returns, all of
which may vary.
FMR has voluntarily agreed to
temporarily limit Spartan New
Jersey Municipal Money Market
Portfolio's operating expenses
to .30% of its average net
assets. If this agreement were
not in effect, the management
fee, other expenses, and total
operating expenses would be
.50%, 0%, and .50%,
respectively. Expenses eligible
for reimbursement do not
include interest, taxes,
brokerage commissions, or
extraordinary expenses.
The following information
replaces the first paragraph in
the "Transaction Services"
section on page 14.
EXCHANGE PRIVILEGE. You may
sell your fund shares and buy
shares of other Fidelity funds
by telephone or in writing.
There may be a $5.00 fee for
each exchange out of the fund
unless you place your
transaction on Fidelity's
automated exchange services.
SUPPLEMENT TO THE
SPARTAN(Registered trademark) NEW JERSEY
MUNICIPAL MONEY MARKET
PORTFOLIO PROSPECTUS
DATED DECEMBER 13, 1993
The following information
replaces that which is found
under the subheading "Annual
fund operating expenses" on
page 5.
ANNUAL FUND OPERATING
EXPENSES are paid out of the
fund's assets. The fund pays a
management fee to FMR.
Expenses are factored into the
fund's share price or dividends
and are not charged directly to
shareholder accounts (see
page 21).
The following are projections
based on historical expenses,
and are calculated as a
percentage of average net
assets.
Management fee (after
reimbursement) .30 %
12b-1 fee None
Other expenses .00 %
Total fund operating expenses
.30 %
EXAMPLES: Let's say,
hypothetically, that the fund's
annual return is 5% and that its
operating expenses are exactly
as just described. For every
$1,000 you invested, here's
how much you would pay in
total expenses after the
number of years indicated, first
assuming that you leave your
account open, and then
assuming that you close your
account at the end of the
period:
Account open Account
closed
After 1 year $3 $8
After 3 years $10 $15
After 5 years $17 $22
After 10 years $38 $43
These examples illustrate the
effect of expenses, but are not
meant to suggest actual or
expected costs or returns, all of
which may vary.
FMR has voluntarily agreed to
temporarily limit Spartan New
Jersey Municipal Money Market
Portfolio's operating expenses
to .30% of its average net
assets. If this agreement were
not in effect, the management
fee, other expenses, and total
operating expenses would be
.50%, 0%, and .50%,
respectively. Expenses eligible
for reimbursement do not
include interest, taxes,
brokerage commissions, or
extraordinary expenses.
The following information
replaces the first paragraph in
the "Transaction Services"
section on page 14.
EXCHANGE PRIVILEGE. You may
sell your fund shares and buy
shares of other Fidelity funds
by telephone or in writing.
There may be a $5.00 fee for
each exchange out of the fund
unless you place your
transaction on Fidelity's
automated exchange services.
SNJ-94-2 August 1, 1994
SNJ-94-2 August 1, 1994
