SUPPLEMENT
TO THE FIDELITY
GLOBAL BALANCED
SEPTEMBER 29, 1998
PROSPECTUS
The following information replaces similar information found under the
heading "Exposure to Foreign Markets" in the"Investment Principles and
Risks" section on page 13.
EXPOSURE TO FOREIGN MARKETS. Foreign securities, foreign currencies,
and securities issued by U.S. entities with substantial foreign
operations may involve additional risks and considerations. These
include risks relating to political, economic, or regulatory
conditions in foreign countries; fluctuations in foreign currencies;
withholding or other taxes; trading, settlement, custodial, and other
operational risks; and the potentially less stringent investor
protection and disclosure standards of 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. Additionally, governmental issuers
of foreign debt securities may be unwilling to pay interest and repay
principal when due and may require that the conditions for payment be
renegotiated. All of these factors can make foreign investments,
especially those in emerging markets, more volatile and potentially
less liquid than U.S. investments.
