SUPPLEMENT TO THE FIDELITY MASSACHUSETS MUNICIPAL FUNDS'
MARCH 23, 1998
PROSPECTUS
The following information replaces similar information found in the
"FMR and Its Affiliates" section on page 14.
Christine Thompson is Vice President and manager of Spartan
Massachusetts 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 similar information found in the
"Who May Want to Invest" section beginning on page 4.
These funds may be appropriate for investors in higher tax brackets
who seek high current income that is free from federal and
Massachusetts income taxes. Each fund's level of risk and potential
reward depend on the quality and maturity of its investments. The
money market funds are managed to keep their 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.
The following information replaces similar information found in the
"Who May Want to Invest" section beginning on page 4.
Spartan Massachusetts 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 beginning on page 14.
EACH FUND IS A MUTUAL FUND: an investment that pools shareholders'
money and invests it toward a specified goal. Spartan Massachusetts
Municipal Income Fund is a non-diversified fund of Fidelity
Massachusetts Municipal Trust. Spartan Massachusetts Municipal Money
Market Fund and Fidelity Massachusetts Municipal Money Market Fund are
diversified funds of Fidelity Massachusetts Municipal Trust, an
open-end management investment company organized as a Massachusetts
business trust on December 14, 1981.
The following information replaces similar information found in the
"Securities and Investment Practices" section on page 21.
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: Spartan Massachusetts 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 any one issuer and, with respect to 50% of total
assets, does not invest more than 5% of its total assets in any
issuer. These limitations do not apply to U.S. Government securities
or to securities of other investment companies.
With respect to 75% of its total assets, each money market fund 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.
Each fund may invest more than 25% of its total assets in tax-free
securities that finance similar types of projects.
