SUPPLEMENT TO THE SPARTAN(registered trademark) PENNSYLVANIA MUNICIPAL
FUNDS
FEBRUARY 26, 1998
PROSPECTUS
The following information replaces the similar information found in
the "FMR and Its Affiliates" section on page 13.
Christine Thompson is Vice President and manager of Spartan
Pennsylvania Municipal Income, which she has managed since July 1998.
She also manages several other Fidelity funds. Since joining Fidelity
in 1985, Ms. Thompson has worked as a senior analyst and portfolio
manager.
The following information replaces the first and fourth paragraphs,
respectively, found in the "Who May Want to Invest" section on page 4.
These funds may be appropriate for investors in higher tax brackets
who seek high current income that is free from federal income tax and
Pennsylvania personal income tax. Each fund's level of risk and
potential reward depend on the quality and maturity of its
investments. The money market fund is managed to keep its share price
stable at $1.00. The bond fund, with its broader range of investments,
has the potential for higher yields, but also carries a higher degree
of risk.
Spartan Pennsylvania Municipal Income is a non-diversified fund.
Non-diversified funds may invest a greater portion of their assets in
securities of individual issuers than diversified funds. As a result,
changes in the market value of a single issuer could cause greater
fluctuations in share value than would occur in a more diversified
fund.
The following information replaces similar information found in the
"Charter" section on page 13.
EACH FUND IS A MUTUAL FUND: an investment that pools shareholders'
money and invests it toward a specified goal. Spartan Pennsylvania
Municipal Money Market is a diversified fund of Fidelity Municipal
Trust II, and Spartan Pennsylvania Municipal Income is a
non-diversified fund of Fidelity Municipal Trust. Both trusts are
open-end management investment companies. Fidelity Municipal Trust II
was organized as a Delaware business trust on June 20, 1991. Fidelity
Municipal Trust was organized as a Massachusetts business trust on
June 22, 1984. There is a remote possibility that one fund might
become liable for a misstatement in the prospectus about another fund.
The following information replaces similar information found in the
"Securities and Investment Practices" section on page 20.
DIVERSIFICATION. Diversifying a fund's investment portfolio can reduce
the risks of investing. This may include limiting the amount of money
invested in any one issuer or, on a broader scale, in any one industry
or type of project. Economic, business, or political changes can
affect all securities of a similar type. A fund that is not
diversified may be more sensitive to changes in the market value of a
single issuer or industry.
RESTRICTIONS: With respect to 75% of its total assets Spartan
Pennsylvania Municipal Money Market may not invest more than 5% in the
securities of any one issuer. This limitation does not apply to U.S.
Government securities or to securities of other money market funds.
Spartan Pennsylvania Municipal Income is considered non-diversified.
Generally, to meet federal tax requirements at the close of each
quarter, the fund does not invest more than 25% of its total assets in
the securities of any one issuer and, with respect to 50% of total
assets, does not invest more than 5% of its total assets in the
securities of any one issuer. These limitations do not apply to U.S.
Government securities or to securities of other investment companies.
Each fund may invest more than 25% of its total assets in tax-free
securities that finance similar types of projects.
SUPPLEMENT TO THE SPARTAN(registered trademark) MINNESOTA MUNICIPAL
INCOME FUND
FEBRUARY 26, 1998
PROSPECTUS
The following information replaces the similar information found in
the "FMR and Its Affiliates" section on page 9.
Christine Thompson is Vice President and manager of Spartan Minnesota
Municipal Income, which she has managed since July 1998. She also
manages several other Fidelity funds. Since joining Fidelity in 1985,
Ms. Thompson has worked as a senior analyst and portfolio manager.
