SUPPLEMENT TO THE
FIDELITY ADVISOR FUNDS(registered trademark)
CLASS A, CLASS T,
CLASS B, AND CLASS C
FEBRUARY 26, 1999
REVISED APRIL 9,1999
PROSPECTUS
The following information replaces similar information found in the
"Fund Management" section beginning on page 50.
Margaret Eagle is vice president and manager of Advisor High Yield,
which she has managed since January 1987. Additionally, she is a
senior vice president of Fidelity Trust Company. Since joining
Fidelity in 1980, Ms. Eagle has been an analyst and portfolio manager.
Mark Notkin is manager of Advisor Strategic Income's high yield
investments, which he has managed since April 1999. Since joining
Fidelity in 1994, Mr. Notkin has worked as an analyst and manager.
SUPPLEMENT TO THE
FIDELITY ADVISOR FUNDS(registered trademark)
INSTITUTIONAL CLASS
FEBRUARY 26,1999
PROSPECTUS
The following information replaces similar information found under the
heading "Principal Investment Risks" in the "Investment Details"
section on page 37.
FOREIGN EXPOSURE. Foreign securities, foreign currencies, and
securities issued by U.S. entities with substantial foreign operations
can involve additional risks relating to political, economic or
regulatory conditions in foreign countries. These risks include
fluctuations in foreign currencies; withholding or other taxes;
trading, settlement, custodial and other operational risks; and the
less stringent investor protection and disclosure standards of some
foreign markets. For example, many foreign countries are less prepared
than the United States to properly process and calculate information
related to dates from and after January 1, 2000, which could result in
difficulty pricing foreign investments and failure by foreign issuers
to pay timely dividends, interest or principal. All of these factors
can make foreign investments, especially those in emerging markets,
more volatile and potentially less liquid than U.S. investments. In
addition, foreign markets can perform differently than the U.S.
market.
The following information replaces similar information found in the
"Fund Management" section beginning on page 46.
Margaret Eagle is vice president and manager of Advisor High Yield,
which she has managed since January 1987. Additionally, she is a
senior vice president of Fidelity Trust Company. Since joining
Fidelity in 1980, Ms. Eagle has been an analyst and portfolio manager.
Mark Notkin is manager of Advisor Strategic Income's high yield
investments, which he has managed since April 1999. Since joining
Fidelity in 1994, Mr. Notkin has worked as an analyst and manager.
The following information replaces similar information found on the
back cover.
Fidelity Advisor Funds, Fidelity Investments & (Pyramid) Design,
Fidelity, Fidelity Investments, and Directed Dividends are registered
trademarks of FMR Corp.
TechnoQuant and Portfolio Advisory Services are service marks of FMR
Corp.
