SUPPLEMENT TO THE
FIDELITY TREND FUND AND FIDELITY VALUE FUND
PROSPECTUS
DATED FEBRUARY 20, 1996
Effective June 1996, the following information replaces the similar
information found in "The Funds in Detail" section on page 11.
Abigail Johnson is manager and vice president of Trend, which she has
managed since June 1996. She is also a director of FMR Corp. Previously,
she managed other Fidelity funds. Ms. Johnson joined Fidelity in 1988.
Richard Fentin is manager and vice president of Value, which he has managed
since March 1996. Previously, he managed Puritan. Mr. Fentin joined
Fidelity in 1979.
