SUPPLEMENT TO THE FIDELITY
CASH RESERVES AND FIDELITY
U.S. GOVERNMENT RESERVES
PROSPECTUS
DATED JANUARY 11, 1994
SHAREHOLDER MEETING. On
September 21, 1994, a meeting
of the shareholders of Fidelity
U.S. Government Reserves will
be held for the purposes of
voting on the conversion (the
Conversion) of the fund from a
Massachusetts business trust
to a Delaware business trust
(the Delaware Trust), to
approve a revision to the fund's
management contract, and to
approve other matters related
to the fund's management.
The Conversion will become
effective at the close of
business on, or about January
19, 1995. Upon completion of
the Conversion, each current
fund shareholder will be the
owner of full and fractional
Delaware Trust series shares
equal in number and value to
his or her current fund shares.
Principal differences between
the Massachusetts business
trust and the Delaware
business trust form or
organization are discussed in
the proxy statement dated July
25, 1994 distributed in
connection with the September
21, 1994 shareholder meeting.
If shareholders approve a new
management contract, the
revised management fee
structure will become effective
October 1, 1994. The revised
structure, which was voluntarily
adopted by FMR on September
1, 1993, provides for a lower
individual fund fee rate (from
.28% to .03%) and the addition
of an income component that
depends on the fund's yield.
These changes provide for
lower management fees at all
yield levels.
A copy of the proxy statement
may be obtained free of charge
by calling Fidelity Distributors
Corporation at 1-800-544-8888.
SUPPLEMENT TO THE FIDELITY
CASH RESERVES AND FIDELITY
U.S. GOVERNMENT RESERVES
PROSPECTUS
DATED JANUARY 11, 1994
SHAREHOLDER MEETING. On
September 21, 1994, a meeting
of the shareholders of Fidelity
U.S. Government Reserves will
be held for the purposes of
voting on the conversion (the
Conversion) of the fund from a
Massachusetts business trust
to a Delaware business trust
(the Delaware Trust), to
approve a revision to the fund's
management contract, and to
approve other matters related
to the fund's management.
The Conversion will become
effective at the close of
business on, or about January
19, 1995. Upon completion of
the Conversion, each current
fund shareholder will be the
owner of full and fractional
Delaware Trust series shares
equal in number and value to
his or her current fund shares.
Principal differences between
the Massachusetts business
trust and the Delaware
business trust form or
organization are discussed in
the proxy statement dated July
25, 1994 distributed in
connection with the September
21, 1994 shareholder meeting.
If shareholders approve a new
management contract, the
revised management fee
structure will become effective
October 1, 1994. The revised
structure, which was voluntarily
adopted by FMR on September
1, 1993, provides for a lower
individual fund fee rate (from
.28% to .03%) and the addition
of an income component that
depends on the fund's yield.
These changes provide for
lower management fees at all
yield levels.
A copy of the proxy statement
may be obtained free of charge
by calling Fidelity Distributors
Corporation at 1-800-544-8888.
CAS-94-3 page 1
of 2 July 25,
1994
CAS-94-3 page 1
of 2 July 25,
1994
SUPPLEMENT TO THE FIDELITY
CASH RESERVES AND FIDELITY
U.S. GOVERNMENT RESERVES
PROSPECTUS
DATED JANUARY 11, 1994
SHAREHOLDER MEETING. On
September 21, 1994, a meeting
of the shareholders of Fidelity
U.S. Government Reserves will
be held for the purposes of
voting on the conversion (the
Conversion) of the fund from a
Massachusetts business trust
to a Delaware business trust
(the Delaware Trust), to
approve a revision to the fund's
management contract, and to
approve other matters related
to the fund's management.
The Conversion will become
effective at the close of
business on, or about January
19, 1995. Upon completion of
the Conversion, each current
fund shareholder will be the
owner of full and fractional
Delaware Trust series shares
equal in number and value to
his or her current fund shares.
Principal differences between
the Massachusetts business
trust and the Delaware
business trust form or
organization are discussed in
the proxy statement dated July
25, 1994 distributed in
connection with the September
21, 1994 shareholder meeting.
If shareholders approve a new
management contract, the
revised management fee
structure will become effective
October 1, 1994. The revised
structure, which was voluntarily
adopted by FMR on September
1, 1993, provides for a lower
individual fund fee rate (from
.28% to .03%) and the addition
of an income component that
depends on the fund's yield.
These changes provide for
lower management fees at all
yield levels.
A copy of the proxy statement
may be obtained free of charge
by calling Fidelity Distributors
Corporation at 1-800-544-8888.
SUPPLEMENT TO THE FIDELITY
CASH RESERVES AND FIDELITY
U.S. GOVERNMENT RESERVES
PROSPECTUS
DATED JANUARY 11, 1994
SHAREHOLDER MEETING. On
September 21, 1994, a meeting
of the shareholders of Fidelity
U.S. Government Reserves will
be held for the purposes of
voting on the conversion (the
Conversion) of the fund from a
Massachusetts business trust
to a Delaware business trust
(the Delaware Trust), to
approve a revision to the fund's
management contract, and to
approve other matters related
to the fund's management.
The Conversion will become
effective at the close of
business on, or about January
19, 1995. Upon completion of
the Conversion, each current
fund shareholder will be the
owner of full and fractional
Delaware Trust series shares
equal in number and value to
his or her current fund shares.
Principal differences between
the Massachusetts business
trust and the Delaware
business trust form or
organization are discussed in
the proxy statement dated July
25, 1994 distributed in
connection with the September
21, 1994 shareholder meeting.
If shareholders approve a new
management contract, the
revised management fee
structure will become effective
October 1, 1994. The revised
structure, which was voluntarily
adopted by FMR on September
1, 1993, provides for a lower
individual fund fee rate (from
.28% to .03%) and the addition
of an income component that
depends on the fund's yield.
These changes provide for
lower management fees at all
yield levels.
A copy of the proxy statement
may be obtained free of charge
by calling Fidelity Distributors
Corporation at 1-800-544-8888.
CAS-94-3 page 1
of 2 July
25, 1994
CAS-94-3 page 1
of 2 July
25, 1994
