SUPPLEMENT TO THE FIDELITY SELECT
PORTFOLIOS(registered trademark) PROSPECTUS
DATED APRIL 29, 1996
The following information replaces that found in the section entitled "FMR
and Its Affiliates," beginning on page P-34.
Douglas Chase is manager of Automotive and Industrial Materials, which he
has managed since May 1996 and November 1994, respectively. Previously, he
was an equity analyst. Prior to joining Fidelity in 1993, Mr. Chase was a
consultant for Stanford Resources from 1988 to 1991. He received his MBA
from the University of Michigan in 1993.
Kevin Richardson is manager of Air Transportation, which he has managed
since May 1996. He joined Fidelity in 1994 as an equity analyst, after
receiving his MBA from the University of North Carolina at Chapel Hill.
Previously, he was an equity analyst with Kidder, Peabody & Company.
Jason Weiner is manager of Computers, which he has managed since March
1996. Previously, he managed several other Fidelity funds. Mr. Weiner
joined Fidelity in 1991.
