SUPPLEMENT TO THE
FIDELITY UTILITIES INCOME
FUND PROSPECTUS
DATED MARCH 21, 1994
Shareholder Meeting:
On August 3, 1994,
shareholders approved
changes to the fund's
investment objective. The
revised objective reflects
changes in the utilities industry.
As a result, the fund now
focuses on investments in
utility companies that have
growth potential as well as
dividend income potential.
The fund's investment objective
as described in the prospectus
on page 9 has been modified
as follows:
"The fund seeks high total
return through a combination of
current income and capital
appreciation."
In addition, the Board of
Trustees has authorized a
change of the fund's name to
Fidelity Utilities Fund in
connection with the change to
the fund's investment objective.
SUPPLEMENT TO THE
FIDELITY UTILITIES INCOME
FUND PROSPECTUS
DATED MARCH 21, 1994
Shareholder Meeting:
On August 3, 1994,
shareholders approved
changes to the fund's
investment objective. The
revised objective reflects
changes in the utilities industry.
As a result, the fund now
focuses on investments in
utility companies that have
growth potential as well as
dividend income potential.
The fund's investment objective
as described in the prospectus
on page 9 has been modified
as follows:
"The fund seeks high total
return through a combination of
current income and capital
appreciation."
In addition, the Board of
Trustees has authorized a
change of the fund's name to
Fidelity Utilities Fund in
connection with the change to
the fund's investment objective.
UIF--94-2 August 3, 1994
UIF--94-2 August 3, 1994
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