IMPORTANT PROXY MATERIALS
ARE ON THE WAY TO YOUR CLIENTS RIGHT NOW!
Dear Investment Professional:
On September 17, 1997, there will be a Special Meeting of Shareholders of
the following Capital Reserves Portfolios:
(solid bullet) (solid bullet)Money Market Portfolio
(solid bullet) U.S. Government Portfolio
(solid bullet) Municipal Money Market Portfolio
The enclosed Proxy Statements detail the proposals pertaining to each
portfolio. A copy of the shareholder letter being mailed to all of your
clients who hold shares in these portfolios is also enclosed.
We have also enclosed a Q&A to assist you in understanding the proposals
that will require voting. If you have any questions about this proxy after
reading the letter, Proxy Statements, and Q&A, please call your Fidelity
representative at 800-843-3001.
We appreciate your support, and look forward to serving you in any way we
can.
Sincerely,
Edward C. Johnson 3d
Chairman and Chief Executive Officer
This letter is intended for investment professional use only, and may not
be reproduced or shown to
the public in oral or written form as sales material.
