SUPPLEMENT TO THE
FIDELITY REAL ESTATE
INVESTMENT PORTFOLIO
PROSPECTUS
DATED MARCH 21, 1994
The following information
replaces the second paragraph
found under the section entitled
"Fundamental Investment
Policies and Restrictions,"
beginning on page 13.
The fund seeks above-average
income and long-term capital
growth, consistent with
reasonable investment risk, by
investing primarily in the equity
securities of companies in the
real estate industry. The fund
seeks to provide a yield that
exceeds the composite yield of
the S&P 500. Under normal
conditions, at least 65% of the
fund's total assets will be
invested in the equity securities
of companies principally
engaged in the real estate
industry. The fund may borrow
only for temporary or
emergency purposes, but not in
an amount exceeding 33 1/3%
of its total assets. Loans, in the
aggregate, may not exceed 33
1/3% of the fund's total assets.
SUPPLEMENT TO THE
FIDELITY REAL ESTATE
INVESTMENT PORTFOLIO
PROSPECTUS
DATED MARCH 21, 1994
The following information
replaces the second paragraph
found under the section entitled
"Fundamental Investment
Policies and Restrictions,"
beginning on page 13.
The fund seeks above-average
income and long-term capital
growth, consistent with
reasonable investment risk, by
investing primarily in the equity
securities of companies in the
real estate industry. The fund
seeks to provide a yield that
exceeds the composite yield of
the S&P 500. Under normal
conditions, at least 65% of the
fund's total assets will be
invested in the equity securities
of companies principally
engaged in the real estate
industry. The fund may borrow
only for temporary or
emergency purposes, but not in
an amount exceeding 33 1/3%
of its total assets. Loans, in the
aggregate, may not exceed 33
1/3% of the fund's total assets.
REA-94-1 November 2, 1994
REA-94-1 November 2, 1994
