SUPPLEMENT TO THE FIDELITY ADVISOR MUNICIPAL BOND FUND CLASS A AND CLASS B
PROSPECTUS
DATED JUNE 30, 1996
Effective August 30, 1996, Class A of the fund has been renamed "Class T."
Effective September 30, 1996, the following information replaces the
similar information in the "Selling Shares in Writing" discussion in the
"How to Sell Shares" section on page 18.
(small solid bullet) If you purchased your shares through a bank
representative:
Fidelity Investments
P.O. Box 770002
Cincinnati, OH 45277-0081
The following information replaces the "Quantity Discounts" and "Rights of
Accumulation" discussion in the "Sales Charge Reductions and Waivers"
section on page 27.
QUANTITY DISCOUNTS apply to purchases of Class T shares of a single
Fidelity Advisor fund or to combined purchases of (i) Class T and Class B
shares of any Fidelity Advisor fund, (ii) Class B shares of Daily Money
Fund: U.S. Treasury Portfolio, and (iii) Initial Class shares of Daily
Money Fund: U.S. Treasury Portfolio, Initial Class shares of Daily Money
Fund: Money Market Portfolio, and shares of Daily Tax-Exempt Money Fund
acquired by exchange from any Fidelity Advisor fund. The minimum investment
eligible for a quantity discount is $50,000, except that the minimum
investment for Fidelity Advisor Short Fixed-Income Fund and Fidelity
Advisor Short-Intermediate Municipal Income Fund is $500,000.
To qualify for a quantity discount, investing in the fund's Class T shares
for several accounts at the same time will be considered a single
transaction (Combined Purchase), as long as shares are purchased through
one investment professional and the total is at least $50,000 (or at least
$500,000 for Fidelity Advisor Short Fixed-Income Fund and Fidelity Advisor
Short-Intermediate Municipal Income Fund).
RIGHTS OF ACCUMULATION let you determine your front-end sales charge on
Class T shares by adding to your new purchase of Class T shares the value
of all of the Fidelity Advisor fund Class T and Class B shares held by you,
your spouse, and your children under age 21. You can also add the value of
Class B shares of Daily Money Fund: U.S. Treasury Portfolio as well as
Initial Class shares of Daily Money Fund: U.S. Treasury Portfolio, Initial
Class shares of Daily Money Fund: Money Market Portfolio, and shares of
Daily Tax-Exempt Money Fund acquired by exchange from any Fidelity Advisor
fund.
The following information replaces the similar information found
in the "Sales Charge Reductions and Waivers" section beginning on page
27.
A FRONT-END SALES CHARGE WILL NOT APPLY TO THE FOLLOWING CLASS T SHARES:
5. Purchased for a Fidelity or Fidelity Advisor account with the
proceeds of a distribution (i) from an employee benefit plan that qualified
for waiver (11) or had a minimum of $3 million in plan assets invested in
Fidelity funds; or (ii) from an insurance company separate account
qualifying under (6) below, or used to fund annuity contracts purchased by
employee benefit plans having in the aggregate at least $3 million in plan
assets invested in Fidelity funds. (Distributions other than those
transferred to an IRA account must be transferred directly into a Fidelity
account.)
SUPPLEMENT TO THE FIDELITY ADVISOR MUNICIPAL BOND FUND: CLASS A AND CLASS B
STATEMENT OF ADDITIONAL INFORMATION
DATED JUNE 30, 1996
Effective August 30, 1996, Class A of the fund has been renamed "Class T."
The following information replaces the similar information
found in the "Additional Purchase, Exchange, and Redemption
Information" section beginning on page 15.
The sales charge will not apply:
5. to shares in a Fidelity or Fidelity Advisor account purchased (including
purchases by exchange) with the proceeds of a distribution (i) from an
employee benefit plan that qualified for waiver (11) or had a minimum of $3
million in plan assets invested in Fidelity funds; or (ii) from an
insurance company separate account qualifying under (6) below or used to
fund annuity contracts purchased by employee benefit plans having in the
aggregate at least $3 million in plan assets invested in Fidelity funds.
(Distributions other than those transferred to an IRA account must be
transferred directly into a Fidelity account.)
The following information replaces the "Rights of Accumulation" discussion
in the "Additional Purchase, Exchange, and Redemption Information" section
on page 16.
RIGHTS OF ACCUMULATION permit reduced front-end sales charges on any future
purchases of Class T shares after you have reached a new breakpoint in the
fund's sales charge schedule. The value of (i) currently held Fidelity
Advisor fund Class T and Class B shares, (ii) Class B shares of Daily Money
Fund: U.S. Treasury Portfolio, and (iii) Initial Class shares of Daily
Money Fund: U.S. Treasury Portfolio, Initial Class shares of Daily Money
Fund: Money Market Portfolio, and shares of Daily Tax-Exempt Money Fund
acquired by exchange from any Fidelity Advisor fund, is determined at the
current day's NAV at the close of business, and is added to the amount of
your new purchase valued at the current offering price to determine your
reduced front-end sales charge.
