SUPPLEMENT TO THE
FIDELITY MASSACHUSETTS TAX-FREE FUNDS
PROSPECTUS
DATED MARCH 17, 1995
On February 20, 1996 the funds' names changed from Fidelity
Massachusetts Tax-Free Money Market Portfolio and Fidelity Massachusetts
Tax-Free High Yield Portfolio to Fidelity Massachusetts Municipal Money
Market Fund and Fidelity Massachusetts Municipal Income Fund,
respectively.
The following information replaces the similar information found in the
Charter section beginning on page 10.
Steve Harvey is manager of Massachusetts Tax-Free High Yield Portfolio,
which he has managed since August, 1995. Mr. Harvey also manages Minnesota
Tax-Free, Ohio Tax-Free High Yield, Spartan Maryland Municipal Income, and
Spartan Pennsylvania Municipal High Yield. Previously, he was an analyst
following tax-free bonds. Mr. Harvey joined Fidelity in 1986.
The following replaces the similar information regarding Fidelity
Massachusetts Income Fund (formerly Fidelity Massachusetts Tax-Free High
Yield Portfolio) found in the "Investment Principals and Risks" section
beginning on page 11.
Although the fund can invest in securities of any maturity, FMR seeks to
manage the fund so that it generally reacts to changes in interest rates
similarly to municipal bonds with maturities between 8 and 18 years.
If you are subject to the federal alternative minimum tax, you should note
that the fund may invest all of its assets in municipal securities issued
to finance private activities. The interest from these investments is a
tax-preference item for purposes of the tax.
The following replaces the wire instructions found in the "How to Buy
Shares" table on page 23.
(small solid bullet) Wire to:
Bankers Trust Company*,
Bank Routing #021001033,
Account #00163053.
Specify the complete name of the fund and include your account number and
your name.
* Money market shareholders must call 1-800-343-6310 for that fund's wiring
instructions.
The following replaces the similar information found in the "Taxes"
section on page 27.
The interest from some municipal securities is subject to the federal
alternative minimum tax. The funds may invest up to 100% of their assets in
these securities. Individuals who are subject to the tax must report this
interest on their tax returns.
The following supplements the information found in the paragraph that
begins "When you place an order to buy shares" on page 28.
(small solid bullet) Purchases to the money market fund processed at 10:00
a.m. Eastern time will earn the dividend for that day; purchases processed
at 4:00 p.m. Eastern time will earn dividends the following business day.
The following supplements the information found in the paragraph that
begins "When you place an order to sell shares" on page 29.
(small solid bullet) If your money market fund wire redemption request is
processed at the 10:00 a.m. Eastern time NAV, federal funds will be wired
to your bank that day and you will not earn that day's dividends.
FIDELITY MASSACHUSETTS TAX-FREE MONEY MARKET PORTFOLIO
FIDELITY MASSACHUSETTS TAX-FREE MONEY HIGH YIELD PORTFOLIO
FUNDS OF FIDELITY MASSCHUSETTS MUNICIPAL TRUST
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED MARCH 17, 1995
ON FEBRUARY 20, 1996 THE FUNDS' NAMES CHANGED FROM FIDELITY
MASSACHUSETTS TAX-FREE MONEY MARKET PORTFOLIO AND FIDELITY MASSACHUSETTS
TAX-FREE HIGH YIELD PORTFOLIO TO FIDELITY MASSACHUSETTS MUNICIPAL MONEY
MARKET FUND AND FIDELITY MASSACHUSETTS MUNICIPAL INCOME FUND,
RESPECTIVELY.
MANAGEMENT CONTRACT. Effective January 1, 1996, FMR agreed to voluntarily
adopt the revised group fee rate schedule shown below for purposes of
calculating the group fee component of the management fee. The revised
schedule provides for lower management fees as total assets under
management increase, and it will be presented to shareholders for approval
at the next shareholder meeting.
The following information replaces the "Group Fee Rate" and "Effective
Annual Fee Rate" schedules found on page 25.
GROUP FEE RATE SCHEDULE
EFFECTIVE ANNUAL FEE RATES
Average Group Annualized Group Net Effective Annual Fee
Assets Rate Assets Rate
0 - $ 3 billion .3700% $ 0.5 billion .5200%
3 - 6 .3400 25 .4238
6 - 9 .3100 50 .3823
9 - 12 .2800 75 .3626
12 - 15 .2500 100 .3512
15 - 18 .2200 125 .3430
18 - 21 .2000 150 .3371
21 - 24 .1900 175 .3325
24 - 30 .1800 200 .3284
30 - 36 .1750 225 .3249
36 - 42 .1700 250 .3219
42 - 48 .1650 275 .3190
48 - 66 .1600 300 .3163
66 - 84 .1550 325 .3137
84 - 120 .1500 350 .3113
120 - 156 .1450 375 .3090
156 - 192 .1400 400 .3067
192 - 228 .1350 425 .1443
228 - 264 .1300 450 .1427
264 - 300 .1275 475 .1413
300 - 336 .1250 500 .1399
336 - 372 .1225 525 .1385
372 - 408 .1200 550 .1372
408 - 444 .1175
444 - 480 .1150
480 - 516 .1125
Over 516 .1100
SUPPLEMENT TO THE
SPARTAN MASSACHUSETTS MUNICIPAL MONEY MARKET PORTFOLIO
PROSPECTUS
DATED MARCH 17, 1995
On February 20, 1996 the fund's name changed from Spartan Massachusetts
Municipal Money Market Portfolio to Spartan Massachusetts Municipal Money
Market Fund.
SUPPLEMENT TO THE SPARTAN MASSACHUSETTS MUNICIIPAL MONEY MARKET PORTFOLIO
FUND OF FIDELITY MASSACHUSETTS MUNICIPAL TRUST
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED MARCH 17, 1995
ON FEBRUARY 20, 1996 THE FUND'S NAME CHANGED FROM SPARTAN MASSACHUSETTS
MUNICIPAL MONEY MARKET PORTFOLIO TO SPARTAN MASSACHUSETTS MUNICIPAL MONEY
MARKET FUND.
