SUPPLEMENT TO THE FIDELITY GROWTH & INCOME PORTFOLIO SEPTEMBER 29,
1999 PROSPECTUS
The following information replaces similar information found under the
heading "Buying Shares" in the "Shareholder Information" section on
page 10.
Effective the close of business on April 3, 1998, the fund's shares
are no longer available to new accounts. Shareholders of the fund on
that date may continue to buy shares in accounts existing on that
date. Investors who did not own shares of the fund on April 3, 1998,
generally will not be allowed to buy shares of the fund except that
new accounts may be established: 1) by participants in most group
employer retirement plans (and their successor plans) if the fund had
been established as an investment option under the plans (or under
another plan sponsored by the same employer) by April 3, 1998, and 2)
for accounts managed on a discretionary basis by certain registered
investment advisers that have discretionary assets of at least $500
million invested in mutual funds and have included the fund in their
discretionary account program since April 3, 1998. These restrictions
generally will apply to investments made directly with Fidelity and
investments made through intermediaries. Investors may be required to
demonstrate eligibility to buy shares of the fund before an investment
is accepted.
