SUPPLEMENT TO THE
FIDELITY MAGELLAN FUND
PROSPECTUS
DATED MAY 20, 1994
The following information replaces
the similar information found in the
Expenses section beginning on
page 5.
EXPENSES
SHAREHOLDER TRANSACTION
EXPENSES are charges you pay
when you buy, sell, or hold
shares of a fund. See pages 18
and 24-30 for an explanation of
how and when these charges
apply. Lower sales charges
may be available for accounts
over $250,000.
Maximum sales charge on
purchases
(as a % of offering price) 3.00%
Maximum sales charge on
reinvested distributions None
Deferred sales charge on
redemptions None
Exchange fee None
Annual account maintenance fee
(for accounts under $2,500) $12.00
The following paragraph
supplements the information found
in the section entitled Transaction
Details begi nning on page 25.
Fidelity reserves the right to
deduct an annual maintenance
fee of $12.00 from accounts
with a value of less than $2,500
(including any amount paid as
a sales charge), subject to an
annual maximum charge of
$60.00 per shareholder. It is
expected that accounts will be
valued on the second Friday in
November of each year.
Accounts opened after
September 30 will not be
subject to the fee for that year.
The fee, which is payable to
the transfer agent, is designed
to offset in part the relatively
higher costs of servicing
smaller accounts. The fee will
not be deducted from
retirement accounts, accounts
using regular investment plans,
or if total assets in Fidelity
funds exceed $50,000.
Eligibility for the $50,000 waiver
is determined by aggregating
Fidelity mutual fund accounts
maintained by FSC or FBSI
which are registered under the
same social security number or
which list the same social
security number for the
custodian of a Uniform
Gifts/Transfers to Minors Act
account.
SUPPLEMENT TO THE
FIDELITY MAGELLAN FUND
PROSPECTUS
DATED MAY 20, 1994
The following information replaces
the similar information found in the
Expenses section beginning on
page 5.
EXPENSES
SHAREHOLDER TRANSACTION
EXPENSES are charges you pay
when you buy, sell, or hold
shares of a fund. See pages 18
and 24-30 for an explanation of
how and when these charges
apply. Lower sales charges
may be available for accounts
over $250,000.
Maximum sales charge on
purchases
(as a % of offering price) 3.00%
Maximum sales charge on
reinvested distributions None
Deferred sales charge on
redemptions None
Exchange fee None
Annual account maintenance fee
(for accounts under $2,500) $12.00
The following paragraph
supplements the information found
in the section entitled Transaction
Details begi nning on page 25.
Fidelity reserves the right to
deduct an annual maintenance
fee of $12.00 from accounts
with a value of less than $2,500
(including any amount paid as
a sales charge), subject to an
annual maximum charge of
$60.00 per shareholder. It is
expected that accounts will be
valued on the second Friday in
November of each year.
Accounts opened after
September 30 will not be
subject to the fee for that year.
The fee, which is payable to
the transfer agent, is designed
to offset in part the relatively
higher costs of servicing
smaller accounts. The fee will
not be deducted from
retirement accounts, accounts
using regular investment plans,
or if total assets in Fidelity
funds exceed $50,000.
Eligibility for the $50,000 waiver
is determined by aggregating
Fidelity mutual fund accounts
maintained by FSC or FBSI
which are registered under the
same social security number or
which list the same social
security number for the
custodian of a Uniform
Gifts/Transfers to Minors Act
account.
MAG-95-1 January 23, 1995
MAG-95-1 January 23, 1995
