SUPPLEMENT TO THE
FIDELITY SELECT
PORTFOLIOS(registered trademark)
PROSPECTUS
DATED APRIL 29, 1995
The following information
replaces that found in the
section entitled "Exchange
Restrictions," beginning on
page P-55.
For cash management
purposes, up to three
business days may pass
before exchange proceeds
are paid from one Select
fund to another, or to
another Fidelity equity fund.
Exchange proceeds are
recorded in your
shareholder account when
the transaction occurs.
Therefore, when you
exchange from a stock fund
to the money market fund,
you will earn money market
dividends immediately.
When you exchange from
the money market fund to a
stock fund, you will not earn
money market dividends
during the three
business-day period. This
policy could increase the
volatility of the money
market fund's yield.
SUPPLEMENT TO THE
FIDELITY SELECT
PORTFOLIOS(registered trademark)
PROSPECTUS
DATED APRIL 29, 1995
The following information
replaces that found in the
section entitled "Exchange
Restrictions," beginning on
page P-55.
For cash management
purposes, up to three
business days may pass
before exchange proceeds
are paid from one Select
fund to another, or to
another Fidelity equity fund.
Exchange proceeds are
recorded in your
shareholder account when
the transaction occurs.
Therefore, when you
exchange from a stock fund
to the money market fund,
you will earn money market
dividends immediately.
When you exchange from
the money market fund to a
stock fund, you will not earn
money market dividends
during the three
business-day period. This
policy could increase the
volatility of the money
market fund's yield.
SEL-95-5 June 7, 1995
SEL-95-5 June 7, 1995
