FIDELITY MT VERNON STREET TRUST
497, 1994-05-10
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FIDELITY NEW MILLENNIUM(registered trademark) FUND
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED JANUARY 20, 1994
   The following information replaces example 8 found in the section
entitled "Additional Purchase and Redemption Information" beginning on page
13.    
   (8) if you are a current or former Trustee or officer of a Fidelity fund
or a current or retired officer, director, or regular employee of FMR Corp.
or its direct or indirect subsidiaries (a Fidelity Trustee or employee),
the spouse of a Fidelity Trustee or employee, a Fidelity Trustee or
employee acting as custodian for a minor child, or a person acting as
trustee of a trust for the sole benefit of the minor child of a Fidelity
Trustee or employee;    
   The following information supplements that found in the section entitled
"Additional Purchase and Redemption Information" beginning on page 13.    
   (10) if you are a registered investment adviser (RIA) purchasing for
your discretionary accounts, provided you execute a Fidelity RIA load
waiver agreement which specifies certain aggregate minimum and operating
provisions.  This waiver is available only for shares purchased directly
from Fidelity, without a broker, and is unavailable if the RIA is part of
an organization principally engaged in the brokerage business;    
   (11) if you are a trust institution or bank trust department purchasing
for your non-discretionary, non-retirement fiduciary accounts, provided you
execute a Fidelity Trust load waiver agreement which specifies certain
aggregate minimum and operating provisions.  This waiver is available only
for shares purchased either directly from Fidelity or through a
bank-affiliated broker, and is unavailable if the trust department or
institution is part of an organization not principally engaged in banking
or trust activities.    
NMFB - 94 - 1 May 5, 1994
       
   SUPPLEMENT TO THE     
   FIDELITY NEW MILLENNIUM     
   FUND PROSPECTUS    
   DATED JANUARY 20, 1994    
   The following information     
   replaces that found under the     
   "Waivers" heading in the "Sales     
   Charge Reductions and     
   Waivers" section beginning on     
   page 21.    
       7.    If you are a current or former     
   trustee or officer of a Fidelity     
   fund or a current or retired     
   officer, director, or regular     
   employee of FMR Corp. or its     
   direct or indirect subsidiaries (a     
   Fidelity Trustee or employee),     
   the spouse of a Fidelity trustee     
   or employee, a Fidelity trustee     
   or employee acting as     
   custodian for a minor child, or a     
   person acting as trustee of a     
   trust for the sole benefit of the     
   minor child of a Fidelity Trustee     
   or employee.    
       
NMF - 94 - 1 May 5, 1994
   SUPPLEMENT TO THE     
   FIDELITY NEW MILLENNIUM     
   FUND PROSPECTUS    
   DATED JANUARY 20, 1994    
   The following information     
   replaces that found under the     
   "Waivers" heading in the "Sales     
   Charge Reductions and     
   Waivers" section beginning on     
   page 21.    
       7.    If you are a current or former     
   trustee or officer of a Fidelity     
   fund or a current or retired     
   officer, director, or regular     
   employee of FMR Corp. or its     
   direct or indirect subsidiaries (a     
   Fidelity Trustee or employee),     
   the spouse of a Fidelity trustee     
   or employee, a Fidelity trustee     
   or employee acting as     
   custodian for a minor child, or a     
   person acting as trustee of a     
   trust for the sole benefit of the     
   minor child of a Fidelity Trustee     
   or employee.    
       
NMF - 94 - 1 May 5, 1994



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