SPARTAN(registered trademark) CALIFORNIA MUNICIPAL MONEY MARKET PORTFOLIO
A FUND OF FIDELITY CALIFORNIA MUNICIPAL TRUST II
SPARTAN(registered trademark) CALIFORNIA INTERMEDIATE MUNICIPAL PORTFOLIO
SPARTAN(registered trademark) CALIFORNIA MUNICIPAL HIGH YIELD PORTFOLIO
FUNDS OF FIDELITY CALIFORNIA MUNICIPAL TRUST
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED APRIL 17, 1995
On February 20, 1996 the funds' names changed from Spartan California
Municipal Money Market Portfolio, Spartan California Intermediate Municipal
Portfolio, and Spartan California Municipal High Yield Portfolio to Spartan
California Municipal Money Market Fund, Spartan California Intermediate
Municipal Income Fund, and Spartan California Municipal Income Fund,
respectively.
SCRB-96-1 February 20, 1996
SUPPLEMENT TO THE SPARTAN(registered trademark) CALIFORNIA
MUNICIPAL FUNDS
PROSPECTUS
DATED APRIL 17, 1995
On February 20, 1996 the funds' names changed from Spartan California
Municipal Money Market Portfolio, Spartan California Intermediate Municipal
Portfolio, and Spartan California Municipal High Yield Portfolio to Spartan
California Municipal Money Market Fund, Spartan California Intermediate
Municipal Income Fund, and Spartan California Municipal Income Fund,
respectively.
Effective February 1, 1996, the following information replaces similar
information found under "Expenses" beginning on page 5.
SPARTAN CA MONEY MARKET
Management fee (after reimbursement) .35%
12b-1 fee None
Other expenses .00%
Total fund operating expenses .35%
SPARTAN CA INTERMEDIATE
Management fee (after reimbursement) .40%
12b-1 fee None
Other expenses .00%
Total fund operating expenses .40%
SPARTAN CA MONEY MARKET
Account open Account closed
After 1 year $4 $9
After 3 years $11 $16
After 5 years $20 $25
After 10 years $44 $49
SPARTAN CA INTERMEDIATE
Account open Account closed
After 1 year $4 $9
After 3 years $13 $18
After 5 years $22 $27
After 10 years $51 $56
FMR has voluntarily agreed to temporarily limit Spartan California
Municipal Money Market Portfolio's operating expenses to .35% of its
average net assets, and Spartan California Intermediate Municipal
Portfolio's operating expenses to .40% of its average net assets. If these
agreements were not in effect, the management fee, other expenses, and
total operating expenses would be .50%, .00%, and .50%, respectively, for
Spartan California Municipal Money Market and .55%, .00%, and .55%,
respectively, for Spartan California Intermediate Municipal. Expenses
eligible for reimbursement do not include interest, taxes, brokerage
commissions, or extraordinary expenses.
The following replaces the similar information found in the "Investment
Principles and Risks" section on page 13 with regard to Spartan California
Intermediate Municipal Income Fund.
Although the fund can invest in securities of any maturity, the fund
maintains a dollar-weighted average maturity of between three to 10 years
under normal conditions. FMR seeks to manage the fund so that it generally
reacts to changes in interest rates similarly to municipal bonds with
maturities between seven and 10 years.
The following replaces the similar information found in the "Investment
Principles and Risks" section on page 13 with regard to Spartan California
Municipal Income Fund.
Although the fund can invest in securities of any maturity, FMR seeks to
manage the fund so that it generally reacts to changes in interest rates
similarly to municipal bonds with maturities between eight and 18
years.
FIDELITY CALIFORNIA TAX-FREE MONEY MARKET PORTFOLIO
A FUND OF FIDELITY CALIFORNIA MUNICIPAL TRUST II
FIDELITY CALIFORNIA TAX-FREE INSURED PORTFOLIO
FIDELITY CALIFORNIA TAX-FREE HIGH YIELD PORTFOLIO
FUNDS OF FIDELITY CALIFORNIA MUNICIPAL TRUST
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
APRIL 17, 1995
On February 20, 1996 the funds' names changed from Fidelity California
Tax-Free Money Market Portfolio, Fidelity California Tax-Free Insured
Portfolio, and Fidelity California Tax-Free High Yield Portfolio to
Fidelity California Municipal Money Market Fund, Fidelity California
Insured Municipal Income Fund, and Fidelity California Municipal Income
Fund, respectively.
MANAGEMENT CONTRACT. Effective January 1, 1996, FMR agreed to voluntarily
adopt the revised group fee rate schedule shown below for purposes of
calculating the group fee component of the management fee. The revised
schedule provides for lower management fees as total assets under
management increase, and it will be presented to shareholders for approval
at the next shareholder meeting.
The following information replaces the "Group Fee Rate" and "Effective
Annual Fee Rate" schedules found on page 31.
GROUP FEE RATE SCHEDULE EFFECTIVE ANNUAL FEE RATES
Average Group Annualized Group Net Effective Annual Fee
Assets Rate Assets Rate
0 - $ 3 billion .3700% $ 0.5 billion .5200%
3 - 6 .3400 25 .4238
6 - 9 .3100 50 .3823
9 - 12 .2800 75 .3626
12 - 15 .2500 100 .3512
15 - 18 .2200 125 .3430
18 - 21 .2000 150 .3371
21 - 24 .1900 175 .3325
24 - 30 .1800 200 .3284
30 - 36 .1750 225 .3249
36 - 42 .1700 250 .3219
42 - 48 .1650 275 .3190
48 - 66 .1600 300 .3163
66 - 84 .1550 325 .3137
84 - 120 .1500 350 .3113
120 - 156 .1450 375 .3090
156 - 192 .1400 400 .3067
192 - 228 .1350 425 .1443
228 - 264 .1300 450 .1427
264 - 300 .1275 475 .1413
300 - 336 .1250 500 .1399
336 - 372 .1225 525 .1385
372 - 408 .1200 550 .1372
408 - 444 .1175
444 - 480 .1150
480 - 516 .1125
Over 516 .1100
SUPPLEMENT TO THE
FIDELITY CALIFORNIA
TAX-FREE FUNDS
PROSPECTUS
DATED APRIL 17, 1995
On February 20, 1996 the funds' names changed from Fidelity California
Tax-Free Money Market Portfolio, Fidelity California Tax-Free Insured
Portfolio, and Fidelity California Tax-Free High Yield Portfolio to
Fidelity California Municipal Money Market Fund, Fidelity California
Insured Municipal Income Fund, and Fidelity California Municipal Income
Fund, respectively.
The following replaces the similar information found in the "Investment
Principles and Risks" section on page 13 with regard to Fidelity California
Insured Municipal Income Fund.
Although the fund can invest in securities of any maturity, FMR seeks to
manage the fund so that it generally reacts to changes in interest rates
similarly to municipal bonds with maturities between eight and 18 years.
The following replaces the similar information found in the "Investment
Principles and Risks" section on page 13 with regard to Fidelity California
Municipal Income Fund.
Although the fund can invest in securities of any maturity, FMR seeks to
manage the fund so that it generally reacts to changes in interest rates
similarly to municipal bonds with maturities between eight and 18 years.
The following replaces the similar information found in the "Investment
Principles and Risks" section on page 14.
If you are subject to the federal alternative minimum tax, you should note
that each fund may invest all of its assets in municipal securities issued
to finance private activities. The interest from these investments is a
tax-preference item for purposes of the tax.
The following replaces the similar information found in the "Taxes" section
on page 29.
The interest from some municipal securities is subject to the federal
alternative minimum tax. Each fund may invest up to 100% of its assets in
these securities. Individuals who are subject to the tax must report this
interest on their tax returns.
