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SUPPLEMENT TO THE FIDELITY MAGELLAN FUND PROSPECTUS DATED MAY 22, 1996 Effective June 1996, the following information replaces the similar information found in the "FMR and Its Affiliates" section on page 8. Robert Stansky is manager and vice president of Magellan, which he has managed since June 1996. Previously, he managed other Fidelity funds. Mr. Stansky joined Fidelity in 1983.
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