SUPPLEMENT TO THE FIDELITY EXPORT FUND
PROSPECTUS
DATED OCTOBER 18, 1996
The Board of Trustees of Fidelity Export Fund authorized the adoption of
a redemption fee of 0.75% of the amount redeemed on shares held less than
90 days. The fee is applicable to those shares purchased on or after
February 1, 1997.
The following information replaces the corresponding section under
"Expenses" on page 4.
SHAREHOLDER TRANSACTION EXPENSES are charges you may pay when you buy or
sell shares of a fund. In addition, you may be charged an annual account
maintenance fee if your account balance falls below $2,500. Lower sales
charges may be available for accounts over $250,000. See "Transaction
Details," pages 23 to 26, for an explanation of how and when these charges
apply.
Maximum sales charge on purchases 3.00
(as a % of offering price) %
Maximum sales charge on reinvested distributions None
Deferred sales charge on redemptions None
Exchange fee None
Redemption fee on shares held less than 90 days for shares 0.75
purchased on or after Feb rua ry 1, 1997 %
Annual account maintenance fee (for accounts under $2,500) $12.0
0
The following information supplements information in the section
entitled "Transaction Details" beginning on page 23.
THE REDEMPTION FEE, if applicable, will be deducted from the amount
of your redemption. This fee is paid to the fund rather than FMR, and it
does not apply to shares that were acquired through reinvestment of
distributions. If shares you are redeeming were not all held for the same
length of time, those shares you held longest will be redeemed first for
purposes of determining whether the fee applies.
