SUPPLEMENT TO THE
FIDELITY UTILITIES
INCOME FUND
PROSPECTUS
DATED MARCH 21, 1994
Shareholder Meeting:
On August 3, 1994,
shareholders will vote on
proposed changes to the fund's
investment objective. The
proposed objective would
reflect changes in the utilities
industry. Adoption of the
modification would allow the
fund to focus on investments in
utility companies that have
growth potential as well as
dividend income potential. If
shareholders approve the
proposed amendment, the
Board of Trustees has
authorized a change of the
fund's name to Fidelity Utilities
Fund.
These changes will take effect
pending shareholder approval,
and the fund's investment
objective, as described in the
prospectus on page 9, will be
modified to read as follows:
"The fund seeks high total
return through a combination of
current income and capital
appreciation."
Please contact Fidelity at
1-800-544-6666 if you wish to
receive a proxy statement.
SUPPLEMENT TO THE
FIDELITY UTILITIES
INCOME FUND
PROSPECTUS
DATED MARCH 21, 1994
Shareholder Meeting:
On August 3, 1994,
shareholders will vote on
proposed changes to the fund's
investment objective. The
proposed objective would
reflect changes in the utilities
industry. Adoption of the
modification would allow the
fund to focus on investments in
utility companies that have
growth potential as well as
dividend income potential. If
shareholders approve the
proposed amendment, the
Board of Trustees has
authorized a change of the
fund's name to Fidelity Utilities
Fund.
These changes will take effect
pending shareholder approval,
and the fund's investment
objective, as described in the
prospectus on page 9, will be
modified to read as follows:
"The fund seeks high total
return through a combination of
current income and capital
appreciation."
Please contact Fidelity at
1-800-544-6666 if you wish to
receive a proxy statement.
UIF--94-1 June,1994
UIF--94-1 June,1994
