SUPPLEMENT TO THE FIDELITY EXPORT AND MULTINATIONAL FUND 
OCTOBER 23, 1997
PROSPECTUS
The following information    replaces     the similar information
found in the "Charter" section under the heading "FMR and Its
Affiliates" on page 9:
   Adam Hetnarski is manager of Export and Multinational, which he has
managed since September 1998. Previously, he was the associate manager
of the fund and managed other Fidelity funds. Since joining Fidelity
in 1991, Mr. Hetnarski has worked as an analyst and manager.    



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