SUPPLEMENT TO THE SPARTAN(registered trademark) CALIFORNIA MUNICIPAL FUNDS'
APRIL 19, 1997 PROSPECTUS
As of August 14, 1997, Spartan California Municipal Income Fund was
merged into Fidelity California Municipal Income Fund and shareholders of
Spartan California Municipal Income Fund became shareholders of Fidelity
California Municipal Income Fund. The merger was voted on and approved at a
shareholder meeting on August 4, 1997. Spartan California Municipal Income
Fund ceased to exist and is not offered.
The following information replaces similar information found in the
"Expenses" section beginning on page 5.
The following figures are based on historical expenses, adjusted to reflect
current fees, and are calculated as a percentage of average net assets. FMR
has entered into arrangements on behalf of each fund with the fund's
custodian and transfer agent whereby credits realized as a result of
uninvested cash balances are used to reduce fund expenses. Including these
reductions, the total operating expenses presented in the table would have
been 0.49% for Spartan California Money Market, 0.54% for Spartan
California Intermediate and 0.54% for Spartan California Income.
SPARTAN CA MONEY MARKET
Management fee 0.50
%
12b-1 fee None
Other expenses 0.00
%
Total fund operating expenses 0.50
%
SPARTAN CA MONEY MARKET
Account Account
open closed
After 1 year $ 5 $ 10
After 3 years $ 16 $ 21
After 5 years $ 28 $ 33
After 10 years $ 63 $ 68
The following information found in the "Expenses" section beginning on page
5 has been removed.
FMR has voluntarily agreed to reimburse Spartan California Money Market to
the extent that total operating expenses exceed 0.35% of its average net
assets. If this agreement were not in effect, the management fee, other
expenses, and total operating expenses would have been 0.50%, 0.00%, and
0.50%, respectively. Expenses eligible for reimbursement do not include
interest, taxes, brokerage commissions, or extraordinary expenses.
SUPPLEMENT TO THE FIDELITY CALIFORNIA MUNICIPAL FUNDS' APRIL 19, 1997
PROSPECTUS
The following information replaces similar information found in "Expenses"
on page 6:
CA INCOME
Management fee (after reimbursement) 0.36
%
12b-1 fee None
Other expenses (after reimbursement) 0.17
%
Total fund operating expenses 0.53
(after reimbursement) %
CA INCOME
After 1 year $ 5
After 3 years $ 17
After 5 years $ 30
After 10 years $ 66
Effective August 15, 1997, FMR agreed to implement an expense cap for
California Income through December 31, 1999. FMR has agreed to reimburse
the fund to the extent that total operating expenses exceed 0.53% of its
average net assets. After December 31, 1999, the fund's expenses could
increase. If this agreement was not in effect, the management fee and total
operating expenses would be 0.39% and 0.57%, respectively, for California
Income. Expenses eligible for reimbursement do not include interest, taxes,
brokerage commissions, or extraordinary expenses.
Effective April 1, 1997, FMR voluntarily agreed to implement an expense cap
for California Insured. FMR has voluntarily agreed to reimburse the fund to
the extent that total operating expenses exceed 0.55% of its average net
assets. If this agreement was not in effect, the management fee and total
operating expenses would have been 0.39%, and 0.60%, respectively, for
California Insured. Expenses eligible for reimbursement do not include
interest, taxes, brokerage commissions, or extraordinary expenses.
