FIDELITY LOW-PRICED STOCK FUND
A FUND OF FIDELITY PURITAN TRUST
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED SEPTEMBER 29, 1995
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 r eplaces the "Group Fee Rate" and "Effective
Annual Fee Rate" schedules found on pages 20 and 21.
GROUP FEE RATE SCHEDULE
EFFECTIVE ANNUAL FEE RATES
Average Group Annualized Group Net Effective Annual Fee
Assets Rate Assets Rate
0 - $ 3 billion .5200% $ 0.5 billion .5200%
3 - 6 .4900 25 .4238
6 - 9 .4600 50 .3823
9 - 12 .4300 75 .3626
12 - 15 .4000 100 .3512
15 - 18 .3850 125 .3430
18 - 21 .3700 150 .3371
21 - 24 .3600 175 .3325
24 - 30 .3500 200 .3284
30 - 36 .3450 225 .3249
36 - 42 .3400 250 .3219
42 - 48 .3350 275 .3190
48 - 66 .3250 300 .3163
66 - 84 .3200 325 .3137
84 - 102 .3150 350 .3113
102 - 138 .3100 375 .3090
138 - 174 .3050 400 .3067
174 - 210 .3000 425 .3046
210 - 246 .2950 450 .3024
246 - 282 .2900 475 .3003
282 - 318 .2850 500 .2982
318 - 354 .2800 525 .2962
354 - 390 .2750 550 .2942
390 - 426 .2700
426 - 462 .2650
462 - 498 .2600
498 - 534 .2550
Over 534 .2500
The following information replaces the similar information found in the
"Additional Purchase and Redemption Information" section on page 15.
7. to shares purchased through Portfolio Advisory Services or Fidelity
Charitable Advisory Services;
LPSB-96-1
page 1 of 2
January 1, 1996
The following information replaces the similar information on page 3 under
the section entitled "INVESTMENT POLICIES AND LIMITATIONS."
(vi) The fund does not currently intend to lend assets other than
securities to other parties, except by (a) lending money (up to 5% of the
fund's net assets) to a registered investment company or portfolio for
which FMR or an affiliate serves as investment adviser or (b) acquiring
loans, loan participations, or other forms of direct debt instruments and,
in connection therewith, assuming any associated unfunded commitments of
the sellers. (This limitation does not apply to purchases of debt
securities or to repurchase agreements.)
(xi) The fund does not currently intend to invest all of its assets in the
securities of a single open-end management investment company with
substantially the same fundamental investment objective, policies, and
limitations as the fund.
LPSB-96-1
page 2 of 2
January 1, 1996
SUPPLEMENT TO THE
FIDELITY LOW-PRICED STOCK
FUND
PROSPECTUS
DATED SEPTEMBER 29, 1995
The following information
replaces the similar information
found in the "Transaction
Details" section on page 26.
FDC collects the proceeds from
the fund's 3 % sales charge and
may pay a portion of them to
securities dealers who have
sold the fund's shares, or to
others, including banks and
other financial institutions
(qualified recipients), under
special arrangements in
connection with FDC's sales
activities. The sales charge paid
to qualified recipients is 1.50%
of the fund's offering price.
The following information
replaces the similar information
found in the "Waivers" section
on page 28.
6. To shares purchased through
Portfolio Advisory Services or
Fidelity Charitable Advisory
Services.
SUPPLEMENT TO THE
FIDELITY LOW-PRICED STOCK
FUND
PROSPECTUS
DATED SEPTEMBER 29, 1995
The following information
replaces the similar information
found in the "Transaction
Details" section on page 26.
FDC collects the proceeds from
the fund's 3 % sales charge and
may pay a portion of them to
securities dealers who have
sold the fund's shares, or to
others, including banks and
other financial institutions
(qualified recipients), under
special arrangements in
connection with FDC's sales
activities. The sales charge
paid to qualified recipients is
1.50% of the fund's offering
price.
The following information
replaces the similar information
found in the "Waivers" section
on page 28.
6. To shares purchased through
Portfolio Advisory Services or
Fidelity Charitable Advisory
Services.
LPS-96-1 January 1, 1996
LPS-96-1 January 1, 1996
