The North Carolina Capital Management Trust
Term Portfolio
Supplement to the Prospectus
and Statement of Additional Information
dated August 19, 1994
Effective October 1, 1995, the following information updates the discussion
of the portfolio manager found in the "FMR" section on page 33.
Curtis Hollingsworth is manager of The North Carolina Capital Management
Trust: Term Portfolio, which he has managed since October 1995. He also
manages Fidelity Short-Intermediate Government, Fidelity Institutional
Short-Intermediate Government, Spartan Limited Maturity Government, and
Spartan Short-Intermediate Government. Previously, he managed Spartan-Long
Term Government Bond, Fidelity Government Securities and Fidelity Advisor
Government Investment. Mr. Hollingsworth joined Fidelity in 1983.
