SUPPLEMENT TO THE
FIDELITY SHORT-TERM BOND FUND AND
FIDELITY INVESTMENT GRADE BOND FUND
JUNE 21, 1997
PROSPECTUS
The following information supplements the information found on page 12
under "Investment Principles and Risks".
In managing bond funds, FMR selects a benchmark index which is
representative of the portion of the bond market in which the fund
invests. FMR uses the benchmark index as a guide in structuring the
fund and selecting its investments. The benchmark index for Fidelity
Short-Term Bond is the Lehman Brothers 1-3 Year Government/Corporate
Bond Index, a market value weighted benchmark of government and
corporate fixed-rate debt issues with maturities between one and three
years. The benchmark index for Fidelity Investment Grade is the Lehman
Brothers Aggregate Bond Index, a market value weighted benchmark of
investment-grade fixed-rate debt issues with maturities of at least
one year. FMR manages each fund to have similar overall interest rate
risk to its respective Index.
