SUPPLEMENT TO FIDELITY'S
INTERNATIONAL BOND FUNDS PROSPECTUS
DATED FEBRUARY 26, 1996
PROPOSED REORGANIZATION. The Board of Trustees of Fidelity Short-Term
World Bond Fund has unanimously approved an Agreement and Plan of
Reorganization ("Agreement") between Fidelity Short-Term World Bond Fund
(Short-Term World) and Fidelity Short-Term Bond Fund (Short-Term Bond), a
fund of Fidelity Fixed-Income Trust.
The Agreement provides for transfer of substantially all of the assets and
the assumption of all of the liabilities of Short-Term World solely in
exchange for the number of shares of Short-Term Bond equal in value to the
relative net asset value of the outstanding shares of Short-Term World.
Following such exchange, Short-Term World will distribute the Short-Term
Bond shares to its shareholders pro rata, in liquidation of Short-Term
World as provided in the Agreement (the transactions contemplated by the
Agreement referred to as the "Reorganization").
The Reorganization can be consummated only if, among other things, it is
approved by a majority vote of shareholders. A Special Meeting (the
"Meeting") of the Shareholders of Short-Term World will be held on October
11, 1996, and approval of the Agreement will be voted on at that time. In
connection with the Meeting, Short-Term World will be filing with the
Securities and Exchange Commission and delivering to its shareholders of
record a Proxy Statement describing the Reorganization and a Prospectus for
Short-Term Bond.
If the Agreement is approved at the Meeting and certain conditions required
by the Agreement are satisfied, the Reorganization is expected to become
effective on or about October 31, 1996. If shareholder approval of the
Agreement is delayed due to failure to meet a quorum or otherwise, the
Reorganization will become effective, if approved, as soon as practicable
thereafter.
In the event Short-Term World shareholders fail to approve the Agreement,
Short-Term World will continue to engage in business as a registered
investment company and the Board of Trustees will consider other proposals
for the reorganization or liquidation of Short-Term World.
Effective on or about July 15, 1996, except for investors participating in
an employer-sponsored retirement plan record-kept by an affiliate of FMR
which offered the fund prior to that date, Short-Term World will no longer
be available for new accounts pending the Reorganization.
