SUPPLEMENT TO THE
FIDELITY MUNICIPAL
BOND FUND
PROSPECTUS
DATED JUNE 30, 1996
Effective August 30, 1996, Class A of the fund has been renamed "Class T."
The following information supplements the first paragraph under the
heading "Transaction Services" in the "Investors Services" section on page
20 and the first paragraph in the "Exchange Restrictions" section on page
26.
Accounts managed by a bank trust department and other trust institutions,
accounts managed by a broker-dealer, and accounts managed on a
discretionary basis by a registered investment advisor may exchange their
Fidelity Municipal Bond Fund ("Initial Class") shares for Institutional
Class shares of the fund.
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.
SUPPLEMENT TO THE FIDELITY
ADVISOR MUNICIPAL BOND FUND:
INSTITUTIONAL CLASS
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 14.
Deliver your letter to your investment professional, or mail it to the
following address:
Fidelity Investments
P.O. Box 770002
Cincinnati, OH 45277-0081
SUPPLEMENT TO THE FIDELITY 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 "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
purcha ses 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
acq uired 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.
SUPPLEMENT TO THE FIDELITY ADVISOR MUNICIPAL BOND FUND: INSTITUTIONAL CLASS
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 "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.
