F U N D P R O F I L E
EDGAR Submission type: 497K1
Filed pursuant to Rule 497(k)(1)(i)
SPARTAN
MARYLAND MUNICIPAL INCOME
FUND
SPARTAN(registered trademark) MARYLAND MUNICIPAL INCOME FUND
[EFFECTIVE DATE]
This profile summarizes key information about the fund that is
included in the fund's prospectus. The fund's prospectus includes
additional information about the fund, including a more detailed
description of the risks associated with investing in the fund that
you may want to consider before you invest. You may obtain the
prospectus and other information about the fund at no cost by calling
Fidelity(registered trademark) at 1-800-544-8888 or visiting
Fidelity's Web site at www.fidelity.com.
(fidelity_logo_graphic)(registered trademark)
82 Devonshire Street, Boston, MA 02109
_________________________ SMD-profile-0899
Investment Summary
INVESTMENT OBJECTIVE. Spartan Maryland Municipal Income Fund seeks a
high level of current income exempt from federal income tax and
Maryland state and county income taxes.
PRINCIPAL INVESTMENT STRATEGIES. Fidelity Management & Research
Company (FMR)'s principal investment strategies include:
(small solid bullet) Normally investing in investment-grade municipal
debt securities (those of medium and high quality).
(small solid bullet) Normally investing at least 65% of total assets
in municipal securities whose interest is exempt from Maryland state
and county income taxes.
(small solid bullet) Normally investing so that at least 80% of the
fund's income is exempt from federal income tax.
(small solid bullet) Potentially investing more than 25% of total
assets in municipal securities that finance similar types of projects.
(small solid bullet) Managing the fund to have similar overall
interest rate risk to the Lehman Brothers Maryland 4 Plus Year
Municipal Bond Index.
(small solid bullet) Allocating assets across different market sectors
and maturities.
(small solid bullet) Analyzing a security's structural features,
current pricing and trading opportunities, and the credit quality of
its issuer to select investments.
PRINCIPAL INVESTMENT RISKS. The fund is subject to the following
principal investment risks:
(small solid bullet) MUNICIPAL MARKET VOLATILITY. The municipal
market is volatile and can be significantly affected by adverse tax,
legislative or political changes and the financial condition of the
issuers of municipal securities.
(small solid bullet) INTEREST RATE CHANGES. Interest rate increases
can cause the price of a debt security to decrease.
(small solid bullet) GEOGRAPHIC CONCENTRATION. Unfavorable political
or economic conditions within Maryland can affect the credit quality
of issuers located in that state.
(small solid bullet) ISSUER-SPECIFIC CHANGES. The value of an
individual security or particular type of security can be more
volatile than the market as a whole and can perform differently than
the value of the market as a whole.
In addition, the fund is considered non-diversified and can invest a
greater portion of assets in securities of individual issuers than a
diversified fund. As a result, changes in the market value of a single
issuer could cause greater fluctuations in share price than would
occur in a more diversified fund.
An investment in the fund is not a deposit of a bank and is not
insured or guaranteed by the Federal Deposit Insurance Corporation or
any other government agency.
When you sell your shares of the fund, they could be worth more or
less than what you paid for them.
Additional information about the fund's investments is available in
the fund's annual and semi-annual reports to shareholders. In the
fund's annual and semi-annual reports, you will find a discussion of
the market conditions and investment strategies that significantly
affected the fund's performance during the period covered by the
report. You may obtain a free copy of the fund's annual or
semi-annual report by calling 1-800-544-8888.
Performance
The following information illustrates the changes in the fund's
performance from year to year and compares the fund's performance to
the performance of a market index and an average of the performance of
similar funds over various periods of time. The fund also compares its
performance to the performance of an additional index over various
periods of time. Data for the additional index is available only from
June 30, 1993 to the present. Returns are based on past results and
are not an indication of future performance.
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
YEAR-BY-YEAR RETURNS
SPARTAN MARYLAND MUNICIPAL
INCOME
Calendar Years 1994 1995 1996 1997 1998
% % % % %
</TABLE>
Percentage (%)
Row: 1, Col: 1, Value: nil
Row: 2, Col: 1, Value: nil
Row: 3, Col: 1, Value: nil
Row: 4, Col: 1, Value: nil
Row: 5, Col: 1, Value: nil
Row: 6, Col: 1, Value: nil
Row: 7, Col: 1, Value: nil
Row: 8, Col: 1, Value: nil
Row: 9, Col: 1, Value: nil
Row: 10, Col: 1, Value: nil
DURING THE PERIODS SHOWN IN THE CHART FOR SPARTAN MARYLAND MUNICIPAL
INCOME, THE HIGHEST RETURN FOR A QUARTER WAS __% (QUARTER
ENDING[MONTH][DATE], 19__) AND THE LOWEST RETURN FOR A QUARTER WAS __%
(QUARTER ENDING [MONTH][DATE], 19__).
AVERAGE ANNUAL RETURNS
For the periods ended Past 1 year Past 5 years Life of fund A
September 30, 1999
Spartan Maryland Municipal % % %
Income
Lehman Brothers Municipal % % %
Bond Index
Lehman Brothers MD 4+ Year % % %
Municipal Bond Index
Lipper Maryland Municipal % % %
Debt Funds Average
A BEGINNING APRIL 22, 1993.
[If FMR had not reimbursed certain fund expenses during these periods,
the fund's returns would have been lower.]
The Lehman Brothers Municipal Bond Index is a market value-weighted
index of investment-grade municipal bonds with maturities of one year
or more.
The Lehman Brothers Maryland 4 Plus Year Enhanced Municipal Bond Index
is a market value-weighted index of Maryland investment-grade
municipal bonds with maturities of four years or more.
The Lipper Maryland Municipal Debt Funds Average reflects the
performance (excluding sales charges) of mutual funds with similar
objectives.
Fee Table
The following table describes the fees and expenses that are incurred
when you buy, hold, or sell shares of the fund. [The annual fund
operating expenses provided below for the fund are based on historical
expenses, adjusted to reflect current fees.] [The annual fund
operating expenses provided below for the fund do not reflect the
effect of any reduction of certain expenses during the period.][The
annual fund operating expenses provided below for the fund are based
on historical expenses.]
SHAREHOLDER FEES (PAID BY THE INVESTOR DIRECTLY)
Sales charge (load) on None
purchases and reinvested
distributions
Deferred sales charge (load) None
on redemptions
Redemption fee on shares 0.50%
held less than 180 days (as
a % of amount redeemed)
Annual account maintenance $12.00
fee (for accounts under
$2,500)
ANNUAL FUND OPERATING EXPENSES (PAID FROM FUND ASSETS)
Management fee %
Distribution and Service None
(12b-1) fee
Other expenses %
Total annual fund operating %
expenses
[FMR has entered into arrangements on behalf of the fund with the
fund's custodian and transfer agent whereby credits realized as a
result of uninvested cash balances are used to reduce fund expenses.]
[Including these reductions, the total fund operating expenses, would
have been __% for Spartan Maryland Municipal Income.]
This EXAMPLE helps you compare the cost of investing in the fund with
the cost of investing in other mutual funds.
Let's say, hypothetically, that the fund's annual return is 5% and
that your shareholder fees and the fund's annual operating expenses
are exactly as described in the fee table. This example illustrates
the effect of fees and expenses, but is not meant to suggest actual or
expected fees and expenses or returns, all of which may vary. For
every $10,000 you invested, here's how much you would pay in total
expenses if you close your account after the number of years indicated
:
1 year $
3 years $
5 years $
10 years $
Fund Management
FMR is the fund's manager.
As the manager, FMR is responsible for choosing the fund's investments
and handling its business affairs.
Fidelity Investments Money Management, Inc. (FIMM) serves as
sub-adviser for the fund. FIMM is primarily responsible for choosing
investments for the fund. FIMM is an affiliate of FMR.
George Fischer is vice president and manager of Spartan Maryland
Municipal Income, which he has managed since January 1998. He also
manages several other Fidelity funds. Since joining Fidelity in 1989,
Mr. Fischer has worked as an analyst and manager.
Buying Shares
The fund's shares are sold without a sales charge.
You may buy shares of the fund after reading this profile or you may
request a prospectus to review before investing. If you buy shares
after reviewing this profile, Fidelity will send you a prospectus with
your confirmation.
The minimum initial purchase amount is $10,000, the minimum additional
purchase amount is $1,000, and the minimum balance amount is $5,000.
If you buy through an investment professional, certain account
features and policies may differ.
Selling Shares
You may sell all or a portion of your shares on any business day by
phone, by mail, by wire, or over the Internet through Fidelity's Web
site. You may also sell shares by exchange to another Fidelity fund.
Both accounts must have the same registration, including name, address
and taxpayer ID. A signature guarantee may be required in certain
circumstances.
In addition, when you sell your shares, you will pay a 0.50%
redemption fee (short-term trading fee) if you have held your shares
for less than 180 days.
Distributions and Taxes
The fund declares dividends daily and pays them monthly. The fund
normally pays capital gains distributions in October and December.
You may elect to have your dividends and/or capital gain distributions
automatically reinvested in additional shares of the fund, paid in
cash, or automatically invested in shares of another identically
registered Fidelity fund. If you do not indicate a choice on your
application, your distributions will be automatically reinvested. Not
all distribution options are available for every account.
The fund seeks to earn income and pay dividends exempt from federal
income tax and Maryland state and county income taxes.
A portion of the fund's income, and the dividends you receive, may be
subject to federal and state income taxes. The fund's income may be
subject to the federal alternative minimum tax. The fund may also
realize taxable income or gains on the sale of municipal bonds and may
make taxable distributions.
Summary of Available Services
Fidelity provides a number of services to its shareholders. Among them
are:
(small solid bullet) 24 hour telephone assistance, 1-800-544-6666;
(small solid bullet) TDD - Service for the Deaf and Hearing-Impaired
(9:00 a.m. - 9:00 p.m. Eastern time), 1-800-544-0118;
(small solid bullet) Fidelity's Web site, www.fidelity.com;
(small solid bullet) Fidelity Automated Service Telephone (an
automated service for obtaining account information by phone),
1-800-544-5555;
(small solid bullet) Over 75 walk-in Investor Centers nationwide;
(small solid bullet) Exchange privileges among Fidelity funds; and
(small solid bullet) Regular investment and withdrawal plans.
Spartan, Fidelity, and Fidelity Investments & (Pyramid) Design are
registered trademarks of FMR Corp.
The third party marks appearing above are the marks of their
respective owners.
F U N D P R O F I L E
EDGAR Submission type: 497K1
Filed pursuant to Rule 497(k)(1)(i)
EXPORT AND MULTINATIONAL
FUND
FIDELITY EXPORT AND MULTINATIONAL FUND
EFFECTIVE DATE_________
This profile summarizes key information about the fund that is
included in the fund's prospectus. The fund's prospectus includes
additional information about the fund, including a more detailed
description of the risks associated with investing in a fund that you
may want to consider before you invest. You may obtain the prospectus
and other information about the fund at no cost by calling
Fidelity(registered trademark) at 1-800-544-8888 or visiting
Fidelity's Web site at www.fidelity.com.
(fidelity_logo_graphic)(registered trademark)
82 Devonshire Street, Boston, MA 02109
_______ EXF-profile-1099
INVESTMENT SUMMARY
INVESTMENT OBJECTIVE. Export and Multinational Fund seeks long-term
growth of capital.
PRINCIPAL INVESTMENT STRATEGIES. Fidelity Management & Research
Company (FMR)'s principal investment strategies include:
(small solid bullet) Normally investing primarily in common stocks.
(small solid bullet) Normally investing at least 65% of total assets
in securities of U.S. companies that are expected to benefit from
exporting or selling their goods or services outside the United
States.
(small solid bullet) Potentially investing in securities of foreign
issuers and companies that are not export or multinational companies.
(small solid bullet) Investing in either "growth" stocks or "value"
stocks or both.
(small solid bullet) Using fundamental analysis of each issuer's
financial condition and industry position and market and economic
conditions to select investments.
PRINCIPAL INVESTMENT RISKS. The fund is subject to the following
principal investment risks:
(small solid bullet) STOCK MARKET VOLATILITY. Stock markets are
volatile and can decline significantly in response to adverse issuer,
political, regulatory, market or economic developments. Different
parts of the market can react differently to these developments.
(small solid bullet) FOREIGN EXPOSURE. Foreign markets can be more
volatile than the U.S. market due to increased risks of adverse
issuer, political, regulatory, market or economic developments and can
perform differently than the U.S. market.
(small solid bullet) ISSUER-SPECIFIC CHANGES. The value of an
individual security or particular type of security can be more
volatile than the market as a whole and can perform differently than
the value of the market as a whole.
(small solid bullet) EXPORT AND MULTINATIONAL COMPANY EXPOSURE. Export
and multinational companies can be significantly affected by
political, economic and regulatory developments in foreign markets.
An investment in the fund is not a deposit of a bank and is not
insured or guaranteed by the Federal Deposit Insurance Corporation or
any other government agency.
When you sell your shares of the fund, they could be worth more or
less than what you paid for them.
Additional information about the fund's investments is available in
the fund's annual and semi-annual reports to shareholders. In the
fund's annual and semi-annual reports, you will find a discussion of
the market conditions and investment strategies that significantly
affected the fund's performance during the period covered by the
report. You may obtain a free copy of the fund's annual or
semi-annual report by calling 1-800-544-8888.
Performance
The following information illustrates the changes in the fund's
performance from year to year and compares the fund's performance to
the performance of a market index and an average of the performance of
similar funds over various periods of time. Returns are based on past
results and are not an indication of future performance.
YEAR-BY-YEAR RETURNS
The returns in the chart do not include the effect of Export and
Multinational's front-end sales charge If the effect of the sales
charge were reflected, returns would be lower than those shown.
EXPORT AND MULTINATIONAL
Calendar Years 1995 1996 1997 1998
% % % %
Percentage (%)
Row: 1, Col: 1, Value: nil
Row: 2, Col: 1, Value: nil
Row: 3, Col: 1, Value: nil
Row: 4, Col: 1, Value: nil
Row: 5, Col: 1, Value: nil
Row: 6, Col: 1, Value: nil
Row: 7, Col: 1, Value: nil
Row: 8, Col: 1, Value: nil
Row: 9, Col: 1, Value: nil
Row: 10, Col: 1, Value: nil
DURING THE PERIODS SHOWN IN THE CHART FOR EXPORT AND MULTINATIONAL,
THE HIGHEST RETURN FOR A QUARTER WAS __% (QUARTER ENDING _____, 19__)
AND THE LOWEST RETURN FOR A QUARTER WAS __% (QUARTER ENDING ______,
19__).
AVERAGE ANNUAL RETURNS
The returns in the following table include the effect of the fund's
3.00% maximum applicable front-end sales charge.
For the periods ended Past 1 year Life of fundX
September 30, 1999
Export and Multinational % %
S&P 500(registered trademark) % %
Lipper Growth Funds Average % %
X FROM OCTOBER 4, 1994 (COMMENCEMENT OF OPERATIONS).
[If FMR had not reimbursed certain fund expenses during these periods,
the fund's returns would have been lower.]
Standard & Poor's 500 Index (S&P 500) is a market
capitalization-weighted index of common stocks.
Lipper Growth Funds Average reflects the performance (excluding sales
charges) of mutual funds with similar objectives.
Fee Table
The following table describes the fees and expenses that are incurred
when you buy, hold, or sell shares of the fund. [The annual fund
operating expenses provided below for the fund are based on historical
expenses, adjusted to reflect current fees.] [The annual fund
operating expenses provided below for the fund do not reflect the
effect of any [expense reimbursements] [or] reduction of certain
expenses] during the period.] The annual fund operating expenses
provided below for the fund are based on historical expenses.]
SHAREHOLDER FEES (PAID BY THE INVESTOR DIRECTLY)
Maximum sales charge (load) 3.00%
on purchases (as a % of
offering price)X
Sales charge (load) on None
reinvested distributions
Deferred sales charge (load) None
on redemptions
Redemption fee on shares 0.75%
held less than less than 90
days (as a % of amount
redeemed)
Annual account maintenance $12.00
fee (for accounts under
$2,500)
XLOWER SALES CHARGES MAY BE AVAILABLE FOR ACCOUNTS OVER $250,000.
ANNUAL FUND OPERATING EXPENSES (PAID FROM FUND ASSETS)
Management fee %
Distribution and Service None
(12b-1) fee
Other expenses %
Total annual fund operating %
expenses A
A EFFECTIVE March 28, 1995, FMR HAS VOLUNTARILY AGREED TO REIMBURSE
THE FUND TO THE EXTENT THAT TOTAL OPERATING EXPENSES (EXCLUDING
INTEREST, TAXES, SECURITIES LENDING FEES, BROKERAGE COMMISSIONS, AND
EXTRAORDINARY EXPENSES), AS A PERCENTAGE OF ITS AVERAGE NET ASSETS,
EXCEED 2.00%. THIS ARRANGEMENT CAN BE TERMINATED BY FMR AT ANY TIME.
[A portion of the brokerage commissions that the fund pays is used to
reduce the fund's expenses. In addition, the fund has entered into
arrangements with its custodian and transfer agent whereby credits
realized as a result of uninvested cash balances are used to reduce
custodian and transfer agent expenses. [Including [this/these]
reduction[s], the total fund operating expenses would have been __%.]]
This EXAMPLE helps you compare the cost of investing in the fund with
the cost of investing in other mutual funds.
Let's say, hypothetically, that the fund's annual return is 5% and
that your shareholder fees and the fund's annual operating expenses
are exactly as described in the fee table. This example illustrates
the effect of fees and expenses, but is not meant to suggest actual or
expected fees and expenses or returns, all of which may vary. For
every $10,000 you invested, here's how much you would pay in total
expenses if you close your account after the number of years
indicated:
1 year $
3 years $
5 years $
10 years $
Fund Management
FMR is the fund's manager.
As the manager, FMR is responsible for choosing the fund's investments
and handling its business affairs.
Affiliates assist FMR with foreign investments:
(small solid bullet) Fidelity Management & Research (U.K.) Inc. (FMR
U.K.) serves as a sub-adviser for the fund. Currently, FMR U.K.
provides investment research and advice on issuers based outside the
United States and may also provide investment advisory services for
the fund.
(small solid bullet) Fidelity Management & Research Far East Inc. (FMR
Far East) serves as a sub-adviser for the fund. Currently, FMR Far
East provides investment research and advice on issuers based outside
the United States and may also provide investment advisory services
for the fund.
[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.]
Buying Shares
The fund's shares are sold with a maximum 3.00% sales charge.
The fund's sales charge may be reduced according to the following
schedule. Additionally, the sales charge may be waived for certain
individual or institutional investors, including investors through
retirement plans.
Sales Charge
Ranges As a % of Offering Price
$0 - 249,999 3.00%
$250,000 - 499,999 2.00%
$500,000 - 999,999 1.00%
$1,000,000 or more none
To qualify for a sales charge reduction or waiver, you must notify
Fidelity in advance of your purchase.
You may buy shares of the fund after reading this profile or you may
request a prospectus to review before investing. If you buy shares
after reviewing this profile, Fidelity will send you a prospectus with
your confirmation.
The minimum initial purchase amount is $2,500 ($500 for certain
retirement accounts), the minimum additional purchase amount is $250,
and the minimum balance amount is $2,000 ($500 for certain retirement
accounts).
If you buy through an investment professional or through a retirement
account, certain account features and policies may differ.
Selling Shares
You may sell all or a portion of your shares on any business day by
phone, by mail, by wire, or over the Internet through Fidelity's Web
site. You may also sell shares by exchange to another Fidelity fund.
Both accounts must have the same registration, including name, address
and taxpayer ID. A signature guarantee may be required in certain
circumstances.
In addition, when you sell your shares, you will pay a 0.75%
redemption fee (short-term trading fee) if you have held your shares
for less than 90 days.
Distributions and Taxes
The fund normally pays dividends and capital gain distributions in
October and December.
You may elect to have your dividends and/or capital gain distributions
automatically reinvested in additional shares of the fund, paid in
cash, or automatically invested in shares of another identically
registered Fidelity fund. If you do not indicate a choice on your
application, your distributions will be automatically reinvested. Not
all distribution options are available for every account.
Distributions you receive from the fund are subject to federal income
tax, and may also be subject to state or local taxes.
For federal tax purposes, the fund's dividends and distributions of
short-term capital gains are taxable to you as ordinary income. The
fund's distributions of long-term capital gains are taxable to you
generally as capital gains.
Summary of Available Services
Fidelity provides a number of services to its shareholders. Among them
are:
(small solid bullet) 24 hour telephone assistance, 1-800-544-6666;
(small solid bullet) TDD - Service for the Deaf and Hearing-Impaired
(9:00 a.m. - 9:00 p.m. Eastern time), 1-800-544-0118;
(small solid bullet) Fidelity's Web site, www.fidelity.com;
(small solid bullet) Fidelity Automated Service Telephone (an
automated service for obtaining account information by phone),
1-800-544-5555;
(small solid bullet) Over 75 walk-in Investor Centers nationwide;
(small solid bullet) Exchange privileges among Fidelity funds; and
(small solid bullet) Regular investment and withdrawal plans.
Fidelity, Fidelity Investments & (Pyramid) Design, and TouchTone
Xpress are registered trademarks of FMR Corp.
The third party marks appearing above are the marks of their
respective owners.
F U N D P R O F I L E
EDGAR Submission type: 497K1
Filed pursuant to Rule 497(k)(1)(i)
SPARTAN(REGISTERED TRADEMARK)
ARIZONA
MUNICIPAL
INCOME
FUND
[EFFECTIVE DATE]
This profile summarizes key information about the fund that is
included in the fund's prospectus. The fund's prospectus includes
additional information about the fund, including a more detailed
description of the risks associated with investing in the fund that
you may want to consider before you invest. You may obtain the
prospectus and other information about the fund at no cost by calling
Fidelity(registered trademark) at 1-800-544-8888 or visiting
Fidelity's Web site at www.fidelity.com.
(fidelity_logo_graphic)(registered trademark)
82 Devonshire Street, Boston, MA 02109
[Item Code number] AZI-profile
Investment Summary
INVESTMENT OBJECTIVE
SPARTAN ARIZONA MUNICIPAL INCOME FUND seeks a high a level of current
income, exempt from federal income tax and Arizona personal income
tax.
PRINCIPAL INVESTMENT STRATEGIES
Fidelity Management & Research Company (FMR)'s principal investment
strategies include:
(small solid bullet) Normally investing in investment-grade municipal
debt securities (those of medium and high quality).
(small solid bullet) Normally investing at least 65% of total assets
in municipal securities whose interest is exempt from Arizona personal
income tax.
(small solid bullet) Normally investing at least 80% of assets in
municipal securities whose interest is exempt from federal income tax.
(small solid bullet) Potentially investing more than 25% of total
assets in municipal securities that finance similar types of projects.
(small solid bullet) Managing the fund to have similar overall
interest rate risk to the Lehman Brothers Arizona Enhanced Municipal
Bond Index.
(small solid bullet) Allocating assets across different market sectors
and maturities.
(small solid bullet) Analyzing a security's structural features,
current pricing and trading opportunities, and the credit quality of
its issuer to select investments.
PRINCIPAL INVESTMENT RISKS
The fund is subject to the following principal investment risks:
(small solid bullet) MUNICIPAL MARKET VOLATILITY. The municipal market
is volatile and can be significantly affected by adverse tax,
legislative or political changes and the financial condition of the
issuers of municipal securities.
(small solid bullet) INTEREST RATE CHANGES. Interest rate increases
can cause the price of a debt security to decrease.
(small solid bullet) GEOGRAPHIC CONCENTRATION. Unfavorable political
or economic conditions within Arizona can affect the credit quality of
issuers located in that state.
(small solid bullet) ISSUER-SPECIFIC CHANGES. The value of an
individual security or particular type of security can be more
volatile than the market as a whole and can perform differently than
the value of the market as a whole.
In addition, the fund is considered non-diversified and can invest a
greater portion of assets in securities of individual issuers than a
diversified fund. As a result, changes in the market value of a single
issuer could cause greater fluctuations in share price than would
occur in a more diversified fund.
An investment in the fund is not a deposit of a bank and is not
insured or guaranteed by the Federal Deposit Insurance Corporation or
any other government agency.
When you sell your shares of the fund, they could be worth more or
less than what you paid for them.
Additional information about the fund's investments is available in
the fund's annual and semi-annual reports to shareholders. In the
fund's annual and semi-annual reports, you will find a discussion of
the market conditions and investment strategies that significantly
affected the fund's performance during the period covered by the
report. You may obtain a free copy of the fund's annual or semi-annual
report by calling 1-800-544-8888.
Performance
The following information illustrates the changes in the fund's
performance from year to year and compares the fund's performance to
the performance of a market index and an average of the performance of
similar funds over various periods of time. The fund also compares its
performance to the performance of an additional index over various
periods of time. Returns are based on past results and are not an
indication of future performance.
YEAR-BY-YEAR RETURNS
SPARTAN ARIZONA MUNICIPAL
INCOME
Calendar Years 1995 1996 1997 1998
% % % %
Percentage (%)
Row: 1, Col: 1, Value: nil
Row: 2, Col: 1, Value: nil
Row: 3, Col: 1, Value: nil
Row: 4, Col: 1, Value: nil
Row: 5, Col: 1, Value: nil
Row: 6, Col: 1, Value: nil
Row: 7, Col: 1, Value: nil
Row: 8, Col: 1, Value: nil
Row: 9, Col: 1, Value: nil
Row: 10, Col: 1, Value: nil
DURING THE PERIODS SHOWN IN THE CHART FOR SPARTAN ARIZONA MUNICIPAL
INCOME, THE HIGHEST RETURN FOR A QUARTER WAS __% (QUARTER ENDING
______, 199_) AND THE LOWEST RETURN FOR A QUARTER WAS __% (QUARTER
ENDING ______, 199_).
AVERAGE ANNUAL RETURNS
For the periods ended ______, Past 1 year Life of fund
199_
Spartan Arizona Municipal % %A
Income
Lehman Brothers Municipal % %
Bond Index
Lehman Brothers Arizona % %
Enhanced Municipal Bond Index
Lipper Arizona Municipal Debt % %
Funds Average
A FROM OCTOBER 11, 1994.
[If FMR had not reimbursed certain fund expenses during these periods,
the fund's returns would have been lower.]
The Lehman Brothers Municipal Bond Index is a market value-weighted
index of investment-grade municipal bonds with maturities of one year
or more.
The Lehman Brothers Arizona Enhanced Municipal Bond Index is a market
value-weighted index of Arizona investment-grade municipal bonds with
maturities of one year or more.
Lipper Arizona Municipal Debt Funds Average reflects the performance
(excluding sales charges) of mutual funds with similar objectives.
Fee Table
The following table describes the fees and expenses that are incurred
when you buy, hold, or sell shares of the fund. [The annual fund
operating expenses provided below for the fund do not reflect the
effect of any reduction of certain expenses during the period.] [The
annual fund operating expenses provided below for the fund are based
on historical expenses.]
SHAREHOLDER FEES (PAID BY THE INVESTOR DIRECTLY)
Sales charge (load) on None
purchases and reinvested
distributions
Deferred sales charge (load) None
on redemptions
Redemption fee on shares 0.50%
held less than 180 days (as
a % of amount redeemed)
Annual account maintenance $12.00
fee (for accounts under
$2,500)
ANNUAL FUND OPERATING EXPENSES (PAID FROM FUND ASSETS)
Management fee %
Distribution and Service None
(12b-1) fee
Other expenses %
Total annual fund operating %
expenses
[FMR has entered into arrangements on behalf of the fund with the
fund's custodian and transfer agent whereby credits realized as a
result of uninvested cash balances are used to reduce fund expenses.]
[Including these reductions, the total fund operating expenses would
have been __%.]
This EXAMPLE helps you compare the cost of investing in the fund with
the cost of investing in other mutual funds.
Let's say, hypothetically, that the fund's annual return is 5% and
that your shareholder fees and the fund's annual operating expenses
are exactly as described in the fee table. This example illustrates
the effect of fees and expenses, but is not meant to suggest actual or
expected fees and expenses or returns, all of which may vary. For
every $10,000 you invested, here's how much you would pay in total
expenses if you close your account after the number of years
indicated:
1 year $
3 years $
5 years $
10 years $
Fund Management
FMR is the fund's manager.
As the manager, FMR is responsible for choosing the fund's investments
and handling its business affairs.
Fidelity Investments Money Management, Inc. (FIMM) serves as
sub-adviser for the fund. FIMM is primarily responsible for choosing
investments for the fund. FIMM is an affiliate of FMR.
Christine Thompson is vice president and manager of Spartan Arizona
Municipal Income, which she has managed since July 1998. She also
manages other Fidelity funds. Since joining Fidelity in 1985, Ms.
Thompson has worked as a senior analyst and portfolio manager.
Buying Shares
The fund's shares are sold without a sales charge.
You may buy shares of the fund after reading this profile or you may
request a prospectus to review before investing. If you buy shares
after reviewing this profile, Fidelity will send you a prospectus with
your confirmation.
The minimum initial purchase amount is $10,000, the minimum additional
purchase amount is $1,000, and the minimum balance amount is $5,000.
If you buy through an investment professional, certain account
features and policies may differ.
Selling Shares
You may sell all or a portion of your shares on any business day by
phone, by mail, by wire, or over the Internet through Fidelity's Web
site. You may also sell shares by exchange to another Fidelity fund.
Both accounts must have the same registration, including name, address
and taxpayer ID. A signature guarantee may be required in certain
circumstances.
When you sell your shares, you will pay a 0.50% redemption fee
(short-term trading fee) if you have held your shares for less than
180 days.
Distributions and Taxes
The fund declares dividends daily and pays them monthly. The fund
normally pays capital gain distributions in October and December.
You may elect to have your dividends and/or capital gain distributions
automatically reinvested in additional shares of the fund, paid in
cash, or automatically invested in shares of another identically
registered Fidelity fund. If you do not indicate a choice on your
application, your distributions will be automatically reinvested. Not
all distribution options are available for every account.
The fund seeks to earn income and pay dividends exempt from federal
income tax and Arizona personal income tax.
A portion of the fund's income, and the dividends you receive, may be
subject to federal and state income taxes. The fund's income may be
subject to the federal alternative minimum tax. The fund may also
realize taxable income or gains on the sale of municipal bonds and may
make taxable distributions.
Summary of Available Services
Fidelity provides a number of services to its shareholders. Among them
are:
(small solid bullet) 24 hour telephone assistance, 1-800-544-6666;
(small solid bullet) TDD - Service for the Deaf and Hearing-Impaired
(9:00 a.m. - 9:00 p.m. Eastern time), 1-800-544-0118;
(small solid bullet) Fidelity's Web site, www.fidelity.com;
(small solid bullet) Fidelity Automated Service Telephone (an
automated service for obtaining account information by phone),
1-800-544-5555;
(small solid bullet) Over 75 walk-in Investor Centers nationwide;
(small solid bullet) Exchange privileges among Fidelity funds; and
(small solid bullet) Regular investment and withdrawal plans.
Spartan, Fidelity and Fidelity Investments & (Pyramid) Design are
registered trademarks of FMR Corp.
The third party marks appearing above are the marks of their
respective owners.
F U N D P R O F I L E
EDGAR Submission type: 497K1
Filed pursuant to Rule 497(k)(1)(i)
SPARTAN
SHORT-INTERMEDIATE MUNICIPAL INCOME
FUND
SPARTAN(registered trademark) SHORT-INTERMEDIATE MUNICIPAL INCOME
FUND
[EFFECTIVE DATE]
This profile summarizes key information about the fund that is
included in the fund's prospectus. The fund's prospectus includes
additional information about the fund, including a more detailed
description of the risks associated with investing in the fund that
you may want to consider before you invest. You may obtain the
prospectus and other information about the fund at no cost by calling
Fidelity(registered trademark) at 1-800-544-8888 or visiting
Fidelity's Web site at www.fidelity.com.
(fidelity_logo_graphic)(registered trademark)
82 Devonshire Street, Boston, MA 02109
[Item Code] STM-profile-0899
Investment Summary
INVESTMENT OBJECTIVE. Spartan Short-Intermediate Municipal Income Fund
seeks as high a level of current income, exempt from federal income
tax, as is consistent with preservation of capital.
PRINCIPAL INVESTMENT STRATEGIES. Fidelity Management & Research
Company (FMR)'s principal investment strategies include:
(small solid bullet) Normally investing in investment-grade municipal
debt securities (those of medium and high quality).
(small solid bullet) Normally investing so that at least 80% of fund's
income is exempt from federal income tax.
(small solid bullet) Potentially investing more than 25% of total
assets in municipal securities that finance similar types of projects.
(small solid bullet) Managing the fund to have similar overall
interest rate risk to the Lehman Brothers 1 - 5 Year Municipal Bond
Index.
(small solid bullet) Normally maintaining a dollar-weighted average
maturity between two and five years.
(small solid bullet) Allocating assets across different market sectors
and maturities.
(small solid bullet) Analyzing a security's structural features,
current pricing and trading opportunities, and the credit quality of
its issuer to select investments.
PRINCIPAL INVESTMENT RISKS. The fund is subject to the following
principal investment risks:
(small solid bullet) MUNICIPAL MARKET VOLATILITY. The municipal
market is volatile and can be significantly affected by adverse tax,
legislative or political changes and the financial condition of the
issuers of municipal securities.
(small solid bullet) INTEREST RATE CHANGES. Interest rate increases
can cause the price of a debt security to decrease.
(small solid bullet) ISSUER-SPECIFIC CHANGES. The value of an
individual security or particular type of security can be more
volatile than the market as a whole and can perform differently than
the value of the market as a whole.
In addition, the fund is considered non-diversified and can invest a
greater portion of assets in securities of individual issuers than a
diversified fund. As a result, changes in the market value of a single
issuer could cause greater fluctuations in share price than would
occur in a more diversified fund.
An investment in the fund is not a deposit of a bank and is not
insured or guaranteed by the Federal Deposit Insurance Corporation or
any other government agency.
When you sell your shares of the fund, they could be worth more or
less than what you paid for them.
Additional information about the fund's investments is available in
the fund's annual and semi-annual reports to shareholders. In the
fund's annual and semi-annual reports, you will find a discussion of
the market conditions and investment strategies that significantly
affected the fund's performance during the period covered by the
report. You may obtain a free copy of the fund's annual or
semi-annual report by calling 1-800-544-8888.
Performance
The following information illustrates the changes in the fund's
performance from year to year and compares the fund's performance to
the performance of a market index and an average of the performance of
similar funds over various periods of time. The fund also compares its
performance to the performance of an additional index over various
periods of time. Data for the additional index is available from June
30, 1993 to the present. Returns are based on past results and are not
an indication of future performance.
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
YEAR-BY-YEAR RETURN
SPARTAN SHORT-INTERMEDIATE
MUNICIPAL INCOME
Calendar Years 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998
% % % % % % % % % %
</TABLE>
Percentage (%)
Row: 1, Col: 1, Value: nil
Row: 2, Col: 1, Value: nil
Row: 3, Col: 1, Value: nil
Row: 4, Col: 1, Value: nil
Row: 5, Col: 1, Value: nil
Row: 6, Col: 1, Value: nil
Row: 7, Col: 1, Value: nil
Row: 8, Col: 1, Value: nil
Row: 9, Col: 1, Value: nil
Row: 10, Col: 1, Value: nil
DURING THE PERIODS SHOWN IN THE CHART FOR SPARTAN SHORT-INTERMEDIATE
MUNICIPAL INCOME FUND, THE HIGHEST RETURN FOR A QUARTER WAS __%
(QUARTER ENDING: [MONTH][DATE]], [YEAR]) AND THE LOWEST RETURN FOR A
QUARTER WAS __% (QUARTER ENDING: [MONTH][DATE]], [YEAR]).
AVERAGE ANNUAL RETURNS
For the periods ended Past 1 year Past 5 years Past 10 years
September 30,1999
Spartan Short-Intermediate % % %
Municipal Income Fund
Lehman Brothers Municipal % % %
Bond Index
Lehman Brothers 1-5 Year % % %
Municipal Bond Index
Lipper Short-Inter. Muni. % % %
Debt Funds Average
[If FMR had not reimbursed certain fund expenses during these periods,
the fund's returns would have been lower.]
The Lehman Brothers Municipal Bond Index is a market value-weighted
index of investment-grade municipal bonds with maturities of one year
or more.
The Lehman Brothers 1-5 Year Municipal Bond Index is a market
value-weighted index of investment-grade municipal bonds with
maturities between one and five years.
The Lipper Short-Intemediate Municipal Debt Funds Average reflects the
performance (excluding sales charges) of mutual funds with similar
objectives.
Fee Table
The following table describes the fees and expenses that are incurred
when you buy, hold, or sell shares of the fund. [The annual fund
operating expenses provided below for the fund are based on historical
expenses, adjusted to reflect current fees.] [The annual fund
operating expenses provided below for the fund does not reflect the
effect of any reduction of certain expenses during the period.][The
annual fund operating expenses provided below for the fund are based
on historical expenses.]
SHAREHOLDER FEES (PAID BY THE INVESTOR DIRECTLY)
Sales charge (load) on None
purchases and reinvested
distributions
Deferred sales charge (load) None
on redemptions
Annual account maintenance $12.00
fee (for accounts under
$2,500)
ANNUAL FUND OPERATING EXPENSES (PAID FROM FUND ASSETS)
Management fee %
Distribution and Service None
(12b-1) fee
Other expenses %
Total annual fund operating %
expenses
[FMR has entered into arrangements on behalf of the fund with the
fund's custodian and transfer agent whereby credits realized as a
result of uninvested cash balances are used to reduce fund expenses.
[Including [this/these] reduction[s], the total [fund]operating
expenses would have been __%.]
This EXAMPLE helps you compare the cost of investing in the fund with
the cost of investing in other mutual funds.
Let's say, hypothetically, that the fund's annual return is 5% and
that your shareholder fees and the fund's annual operating expenses
are exactly as described in the fee table. This example illustrates
the effect of fees and expenses, but is not meant to suggest actual or
expected fees and expenses or returns, all of which may vary. For
every $10,000 you invested, here's how much you would pay in total
expenses if you close your account after the number of years
indicated:
1 year $
3 years $
5 years $
10 years $
Fund Management
FMR is the fund's manager.
As the manager, FMR is responsible for choosing the fund's investments
and handling its business affairs.
Fidelity Investments Money Management, Inc. (FIMM) serves as
sub-adviser for the fund. FIMM is primarily responsible for choosing
investments for the fund. FIMM is an affiliate of FMR.
Norm Lind is Vice President and manager of Spartan Short-Intermediate
Municipal Income, which he has managed since October 1995. He also
manages several other Fidelity funds. Since joining Fidelity in 1986,
Mr. Lind has worked as an analyst and manager.
Buying Shares
The fund's shares are sold without a sales charge.
You may buy shares of the fund after reading this profile or you may
request a prospectus to review before investing. If you buy shares
after reviewing this profile, Fidelity will send you a prospectus with
your confirmation.
The minimum initial purchase amount is $10,000, the minimum additional
purchase amount is $1,000, and the minimum balance amount is $5,000.
If you buy through an investment professional, certain account
features and policies may differ.
Selling Shares
You may sell all or a portion of your shares on any business day by
phone, by mail, by wire, or over the Internet through Fidelity's Web
site. You may also sell shares by exchange to another Fidelity fund.
Both accounts must have the same registration, including name, address
and taxpayer ID. A signature guarantee may be required in certain
circumstances.
Distributions and Taxes
The fund declares dividends daily and pays them monthly. The fund
normally pays capital gain distributions in October and December.
You may elect to have your dividends and/or capital gain distributions
automatically reinvested in additional shares of the fund, paid in
cash, or automatically invested in shares of another identically
registered Fidelity fund. If you do not indicate a choice on your
application, your distributions will be automatically reinvested. Not
all distribution options are available for every account.
The fund seeks to earn income and pay dividends exempt from federal
income tax.
A portion of the fund's income, and the dividends you receive, may be
subject to federal and state income taxes. The fund's income may be
subject to the federal alternative minimum tax. The fund may also
realize taxable income or gains on the sale of municipal bonds and may
make taxable distributions.
Summary of Available Services
Fidelity provides a number of services to its shareholders. Among them
are:
(small solid bullet) 24 hour telephone assistance, 1-800-544-6666;
(small solid bullet) TDD - Service for the Deaf and Hearing-Impaired
(9:00 a.m. - 9:00 p.m. Eastern time), 1-800-544-0118;
(small solid bullet) Fidelity's Web site, www.fidelity.com;
(small solid bullet) Fidelity Automated Service Telephone (an
automated service for obtaining account information by phone),
1-800-544-5555;
(small solid bullet) Over 75 walk-in Investor Centers nationwide;
(small solid bullet) Exchange privileges among Fidelity funds;
(small solid bullet) Regular investment and withdrawal plans; and
(small solid bullet) Checkwriting.
Spartan, Fidelity, and Fidelity Investments & (Pyramid) Design are
registered trademarks of FMR Corp.
The third party marks appearing above are the marks of their
respective owners.
====================Front of Application======================
FIDELITY MUTUAL FUND (Fidelity Logo Graphic)
NEW ACCOUNT APPLICATION (registered trademark)
P.O. Box 5000
Cincinnati, OH 45273-8698
You may invest in the fund after reviewing the profile(s)
or the prospectus(es) for the fund(s).
For help with this application, or for an IRA, Keogh or
Business Account application, call us anytime at 1-800-544-8888.
If you are opening your account by an exchange from an
existing Fidelity account, call us at 1-800-544-7777.
1: PLEASE TELL US HOW WE SHOULD ESTABLISH YOUR ACCOUNT
______________________________________________________________
Account registration:
______________________________________________________________
__ Individual __ Joint Tenants - __ Custodial
Rights of (UGMA/UTMA)
Survivorship 1 Under the (state)
__ Tenants in Common 1 ____ Uniform
__ Community Property 1 Gifts/Transfer
to Minors Act
______________________________________________________________
/_/ Trust Accounts:
______________________________________________________________
Trustee(s) Name Trust Taxpayer
(first, MI, last): Identification Number:
______________________________________________________________
Name of Trust: for the benefit of: Date of Trust
(Month, day, year):
______________________________________________________________
Name:
______________________________________________________________
Account Owner/ Joint Owner/Custodian Name
Minor Name (first, MI, last): (first, MI, last):
______________________________________________________________
Address and Phone: /_/ Check here if this is
a new address.
______________________________________________________________
Street Address and City State Zip
Apartment or Box Number: 2
______________________________________________________________
Evening Phone (Home): Daytime Phone (Work):
( ) ( )
______________________________________________________________
1 If you are establishing a joint account and do not check a box,
the account will be registered as joint tenants with rights of
survivorship. Types of joint ownership are governed by the laws
of your state of residence. If you need more information about
which are appropriate in your state, please ask your state tax
officials or financial advisor.
2 If you have provided a P.O. Box, please include your
residential address with this application.
2: WE ARE REQUIRED TO REQUEST THE FOLLOWING INFORMATION
______________________________________________________________
Account Owner/Minor Joint Account Owner/
Custodian 1
______________________________________________________________
Social Security ___________________ ___________________
or taxpayer
identification number 1:
Date of Birth
(month/day/year) ______ _____ ______ _______ ____ ______
______________________________________________________________
Citizenship
Country of
citizenship: _U.S. _Other________ _U.S. _Other_______
Country of
tax residence: _U.S. _Other________ _U.S. _Other_______
______________________________________________________________
Occupation: We
are required by the
National Association
of Securities
Dealers (NASD) to
ask for this
information.
______________________________________________________________
Employer's Name
and Address:
______________________________________________________________
Affiliations: _I am affiliated _I am affiliated
with, or work for, with, or work for,
a member firm of a member firm of
the NASD the NASD
______________________________________________________________
1 The Social Security Number or taxpayer identification number
for account owner/minor is used for tax reporting purposes.
(The custodian's Social Security Number will be used to
determine eligibility for maintenance fee waivers.)
3: INVESTMENT INFORMATION
______________________________________________________________
Please make your check payable to the full name of the Fidelity
fund in which you are investing. Note that Fidelity cannot accept
foreign checks or Traveler's checks. Be sure to read the profile(s)
or the prospectus(es) for the fund(s) you choose before your initial
investment and, if you invest based on the profile, be sure to read
the prospectus(es) when [it/they] [is/are] sent to you.
Fund Name: Initial Investment Amount - Fund
minimums vary, see the profile or the
prospectus for additional details.
A.______________________ $____,________,________._______
B.______________________ $____,________,________._______
C.______________________ $____,________,________._______
Dividend & Capital Gain Distributions Check one box: (If no box is
checked, we will reinvest all distributions.)
_ Reinvest all dividends _ Pay all dividends _ Pay all
and capital gains in and capital gains dividends and
my account. directly to my capital gains
bank account via to me by check.
MoneyLine
(registered
trademark). Please
attach a voided
check.
______________________________________________________________
* Note that some funds may charge a sales load and/or a short-term
trading fee. In addition an annual Fidelity mutual fund maintenance
fee of $12 may be deducted from accounts with a balance of less
than $2,500. Minimum initial investments vary by fund. See your
profile or your prospectus for additional details.
====================Back of Application=======================
4: OPTIONAL ACCOUNT FEATURES
______________________________________________________________
Fidelity Automatic Account Builder (registered trademark)
This service lets you invest automatically (monthly or quarterly)
from your bank account to your Fidelity account. Change or cancel
your plan anytime with a phone call at least one business day
before your scheduled investment. (Automatic Account Builder
normally becomes active 20 days after your application
is processed.)
To establish this feature, complete the information below and
staple to the left a voided check from your bank account. One
common name must appear on your Fidelity and bank accounts.
Assign Investment Amount Investment Frequency (month,
to Fund (Spartan minimum: (check one) day,
(from $500; Non-Spartan year)
Section minimum: $100)
3)
__A. $____,______.____ _Monthly _Quarterly beginning _____
__B. $____,______.____ _Monthly _Quarterly beginning _____
__C. $____,______.____ _Monthly _Quarterly beginning _____
Direct Deposit
This service lets you invest directly from your paycheck or your
Social Security check. The minimum investment is $100 per
pay period. To establish this feature, check the appropriate box
below. We will send you an authorization form to complete
and give to your employer.
_My check is from the _My check is from someone other than
federal government. the federal government.
Transfers Between Your Bank & Fidelity
This electronic link with your bank account offers flexible
access to your money. Transfers occur only when you initiate
them and may be made through either Bank Wire or Fidelity
MoneyLine (Registered trademark). (See the prospectus for
details and minimum amounts. MoneyLine normally becomes active
20 days after your application is processed.) Your bank may
charge a fee. This feature is not available with
passbook savings accounts.
_ To establish this feature, check the box at left and staple
a voided check from your bank account. One common name must
appear on your Fidelity and bank accounts. [F3]
Telephone Redemptions & Exchanges
You automatically have the ability to make redemptions or
exchanges by telephone. Exchanges can be made only between
Fidelity funds that have the same account ownership. Each
fund has rules on the number of exchanges allowed each year.
Some funds have administrative fees (of up to $7.50) and
trading fees (of up to 3.0% on exchanges. (See the
appropriate fund's prospectus for details.) The exchange
privilege may be terminated or modified by Fidelity
in the future.
Checkwriting
_Please add this feature to my account. All owners must sign
the Signature Card for checkwriting and the section below at
the end of this application. For custodial accounts, only the
custodian may sign the Signature Card.
Checkwriting is an optional feature and is not available
on all funds. In addition there may be a charge for
checkwriting. See prospectus for details.
______________________________________________________________
STAPLE VOIDED CHECK HERE.
______________________________________________________________
5: SIGNATURE
Each owner must sign this section.
By signing this application, I certify that:
(bullet) I have received and read the profile or the prospectus
for the fund in which I am investing. [I understand that if
I am investing based on the profile, I will be sent a prospectus
with my confirmation.] I agree to the terms of the profile and
the prospectus. I have the authority and legal capacity to
purchase mutual fund shares, am of legal age and believe each
investment is suitable for me. It is my responsibility to read
the prospectus of any fund into which I exchange.
(bullet) I understand that all information provided in
sections 1, 2, 4 and 5 will apply to any new fund into which
my shares may be exchanged.
(bullet) I understand that neither this fund nor Fidelity
Distributors Corporation is a bank, and fund shares are not
backed or guaranteed by any bank or insured by the FDIC.
(bullet) I ratify any instructions, including telephone
instructions, given on this account. I agree that neither
the fund nor Fidelity Service Company, Inc. will be liable
for any loss, cost or expense for acting upon any instructions
if it follows reasonable procedures designed to prevent
unauthorized transactions. (If you do not want the ability to
redeem and exchange by telephone, call Fidelity for
instructions.) I consent to the use of recorded telephone
conversations.
(bullet) I understand that for joint tenant accounts "I" refers
to all account owners, and each of the account owners agrees
that any account owner has authority to act on the account
without notice to the other account owners. Fidelity Service
Company, Inc. in its sole discretion, and for its protection,
may require the written consent of all account owners prior
to acting upon the instructions of any account owner.
(bullet) If I am a U.S. Citizen or Resident Alien, as I have
indicated above, I certify under penalties of perjury that
(1) the Social Security or taxpayer identification number
provided above is correct (or I am waiting for a number to be
issued to me), and (2) I am not subject to backup withholding
because (a) I am exempt from backup withholding, or (b) I have
not been notified by the Internal Revenue Service (IRS) that I
am subject to backup withholding for failure to report all
dividend and interest income, or (c) I have been notified by
the IRS that I am no longer subject to backup withholding.
(Please cross out item 2 if it does not apply to you.)
(bullet) If I am a Non-Resident Alien, as I have indicated
above, I certify under penalties of perjury that I am not a
U.S. Citizen or Resident Alien, that the information entered
above is correct, that if a reduced rate of tax or exemption
from tax applies, I have complied with all requirements to
qualify for the reduced tax, and I am an exempt foreign person
under IRS regulations.
The Internal Revenue Service does not require your consent to
any provision of this document other than the certifications
required to avoid backup withholding.
Signature of Owner Signature of Joint Owner
Date (month,day,year) Date (month,day,year)
X____________________________ X______________________________
For trusts, all trustees must sign. Only the custodian should
sign the application for custodial accounts.
Not authorized for distribution unless preceded or accompanied
by a current profile or prospectus.
61605.001 Fidelity distributors Corporation MFFK-APP-0998
1.706324.101
===================Front of Signature Card====================
SIGNATURE CARD FOR CHECKWRITING ________________________
Please do not detach this card.
Checkwriting is available only for money market funds and
certain bond funds. Checkwriting minimums vary and fees
may apply. See prospectus for more information.
Please sign within the boxes
below using BLACK BALLPOINT INK.
Please use a pen and print
clearly in CAPITAL LETTERS.
Owner's Name
(first,MI,last):
____________________________ X________________________________
Joint Owner's Name
(first,MI,last):
____________________________ X________________________________
__Check here if more than one
signature will be required
on checks. If this box is
not checked, only one
signature will be required
on checks. 8324100
==================Back of Signature Card======================
By signing this signature card on the reverse side, the signatory(ies)
agree(s) to be subject to the terms and conditions, guidelines,
and rules applicable to your account as now in effect and as
amended from time to time, of the fund(s) and of
UMB Bank, n.a.. ("the Bank"), as they pertain to the use of
redemption checks; therefore, all registered owners must
sign this signature card. All checks will require only one
signature unless otherwise indicated on the face of this card.
Each signatory guarantees the genuineness of the other's
signature on this card.
The Bank is hereby appointed agent by the shareholders signing
this card and, as such agent, is directed to request redemption
of shares of such Fidelity fund(s) as designated by the shareholders
from time to time, and as recorded on Fidelity's records, upon
receipt of, and to the amount of, checks drawn upon this account(s).
In so acting, the Bank shall be liable only for its own negligence.
Shareholders will be subject the the Bank's rules, regulations and
associated laws governing check collection, including the Uniform
Commercial Code as enacted in the State of Missouri.
It is further agreed as follows:
1. All items, with exception of those drawn on
Spartan (registered trademark) money market funds, Fidelity Daily
Income Trust ("FDIT"), and Fidelity Municipal Money Market Fund,
must be for a minimum of $500 (or such other minimum amounts
as may from time to time be established upon prior written notice
to the shareholders, including the accounts of Spartan money market
funds, FDIT and Fidelity Municipal Money Market Fund), or they may
be returned to shareholders marked "Refer to Maker."
2 This card supersedes any card already on file for the same
T Master Account or fund or account number.
3. Refer to the fund prospectus for minimum check amounts and
any applicable fees.
4. You may obtain a copy of the "Statement of Terms and Conditions"
applicable to your account by calling Fidelity.
