SUPPLEMENT TO THE
FIDELITY MUNICIPAL BOND PORTFOLIO
PROSPECTUS
DATED FEBRUARY 20, 1996
At a recent meeting, the Board of Trustees voted to allow Fidelity
Municipal Bond Fund to create additional classes of shares that will be
sold primarily through financial intermediary distribution channels. The
current single existing class of shares of the fund, which will become
known as the "Initial Class," will be closed to new shareholder accounts
effective on or about June 28, 1996. Initial Class shareholders may make
additional purchases of Initial Class shares after June 28, 1996.
The following information replaces the section entitled "Strategy" on page
4:
STRATEGY: Invests mainly in investment-grade quality municipal securities.
