SUPPLEMENT TO THE
SPARTAN
U.S. TREASURY MONEY
MARKET FUND
PROSPECTUS
DATED SEPTEMBER 12, 1994
SHAREHOLDER MEETING On
April 19, 1995, a meeting of
the shareholders of Spartan
U.S. Treasury Money Market
Fund will be held for the
purposes of voting on the
conversion (the Conversion)
of the fund from a
Massachusets business trust
to a Delaware business trust
(the Delaware Trust), to
approve revisions to the
fund's management contract,
and to approve other matters
related to the fund's
management.
The Conversion will become
effective at the close of
business on, or about June
16, 1995. Upon completion of
the Conversion, each current
fund shareholder will be the
owner of full and fractional
Delaware Trust series shares
equal in number and value to
his or her current fund
shares. Principal differences
between the Massachusetts
business trust and the
Delaware business trust form
of organization are discussed
in the proxy statement dated
February 21, 1995 distributed
in connection with the April
19, 1995 shareholder
meeting.
If shareholders approve a
new management contract,
the fund will adopt a revised
management fee structure
effective May 1, 1995. The
revised management fee
structure reduces the
management fee that FMR
receives from the fund
0.10%, from 0.55% to 0.45%.
Shareholders will also
consider proposals to modify
certain fundamental
investment policies and
limitations for the fund
including a proposal to
modify the fund's borrowing
limitation which would permit
the fund to engage in reverse
repurchase agreements.
However, as stated in the
proxy statement, the fund's
investment objective and
certain of the other
fundamental policies and
limitations will remain
fundamental.
A copy of the proxy
statement may be obtained
free of charge by calling
Fidelity Distributors
Corporation at
1-800-544-8888.
The following paragraph
supplements the information
found in the section entitled
"Transaction Details"
beginning on page 20.
FIDELITY RESERVES THE RIGHT
TO DEDUCT AN ANNUAL
MAINTENANCE FEE of $12.00
from accounts with a value of
less than $2,500, subject to
an annual maximum charge
of $60.00 per shareholder. It
is expected that ac-
SUPPLEMENT TO THE
SPARTAN
U.S. TREASURY MONEY
MARKET FUND
PROSPECTUS
DATED SEPTEMBER 12, 1994
SHAREHOLDER MEETING On
April 19, 1995, a meeting of
the shareholders of Spartan
U.S. Treasury Money Market
Fund will be held for the
purposes of voting on the
conversion (the Conversion)
of the fund from a
Massachusets business trust
to a Delaware business trust
(the Delaware Trust), to
approve revisions to the
fund's management contract,
and to approve other matters
related to the fund's
management.
The Conversion will become
effective at the close of
business on, or about June
16, 1995. Upon completion of
the Conversion, each current
fund shareholder will be the
owner of full and fractional
Delaware Trust series shares
equal in number and value to
his or her current fund
shares. Principal differences
between the Massachusetts
business trust and the
Delaware business trust form
of organization are discussed
in the proxy statement dated
February 21, 1995 distributed
in connection with the April
19, 1995 shareholder
meeting.
If shareholders approve a
new management contract,
the fund will adopt a revised
management fee structure
effective May 1, 1995. The
revised management fee
structure reduces the
management fee that FMR
receives from the fund
0.10%, from 0.55% to 0.45%.
Shareholders will also
consider proposals to modify
certain fundamental
investment policies and
limitations for the fund
including a proposal to
modify the fund's borrowing
limitation which would permit
the fund to engage in reverse
repurchase agreements.
However, as stated in the
proxy statement, the fund's
investment objective and
certain of the other
fundamental policies and
limitations will remain
fundamental.
A copy of the proxy
statement may be obtained
free of charge by calling
Fidelity Distributors
Corporation at
1-800-544-8888.
The following paragraph
supplements the information
found in the section entitled
"Transaction Details"
beginning on page 20.
FIDELITY RESERVES THE RIGHT
TO DEDUCT AN ANNUAL
MAINTENANCE FEE of $12.00
from accounts with a value of
less than $2,500, subject to
an annual maximum charge
of $60.00 per shareholder. It
is expected that ac-
TMM-95-3 (PAGE 1 OF 2) February 21, 1995
TMM-95-3 (PAGE 1 OF 2) February 21, 1995
counts will be valued on the
second Friday in November
of each year. Accounts
opened after September 30
will not be subject to the fee
for that year. The fee, which
is payable to the transfer
agent, is designed to offset in
part the relatively higher
costs of servicing smaller
accounts. The fee will not be
deducted from retirement
accounts, accounts using
regular investment plans, or
if total assets in Fidelity funds
exceed $50,000. Eligibility
for the $50,000 waiver is
determined by aggregating
Fidelity mutual fund accounts
maintained by FSC or FBSI
which are registered under
the same social security
number or which list the
same social security number
for the custodian of a
Uniform Gifts/Transfers to
Minors Act account.
counts will be valued on the
second Friday in November
of each year. Accounts
opened after September 30
will not be subject to the fee
for that year. The fee, which
is payable to the transfer
agent, is designed to offset in
part the relatively higher
costs of servicing smaller
accounts. The fee will not be
deducted from retirement
accounts, accounts using
regular investment plans, or if
total assets in Fidelity funds
exceed $50,000. Eligibility
for the $50,000 waiver is
determined by aggregating
Fidelity mutual fund accounts
maintained by FSC or FBSI
which are registered under
the same social security
number or which list the
same social security number
for the custodian of a Uniform
Gifts/Transfers to Minors Act
account.
(PAGE 2 OF 2)
(PAGE 2 OF 2)
