SUPPLEMENT TO THE
SPARTAN(registered trademark) U.S. TREASURY
MONEY MARKET FUND
PROSPECTUS
DATED SEPTEMBER 12, 1994
. SHAREHOLDER MEETING. On
April 19, 1995, shareholders
voted to approve the
conversion (the Conversion) of
the fund from a Massachusetts
business trust to a Delaware
business trust (the Delaware
Trust), revision to the fund's
management contract, and
proposals to modify certain
fundamental investment
policies and limitations for the
fund including a proposal which
modified the fund's borrowing
limitation permitting the fund to
engage in reverse repurchase
agreements.
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.
The fund's amended
management contract
containing a revised
management fee will become
effective May 1, 1995. The
revised management fee
reduces the management fee
that FMR receives from the
fund 0.10%, from 0.55% to
0.45%.
The following information
replaces similar information
found in the "Expenses" section
on page 4.
SPARTAN U.S. TREASURY
Management fee 0.45
%
12b-1 fee None
Other expenses 0.00
%
Total fund operating expenses
0.45%
The following information
replaces that found under the
heading "Management Fee" on
page 10.
The management fee is
calculated and paid to FMR
every month. The fund pays
the fee at the annual rate of
0.45% of its average net
assets.
The following information
supplements the information
found in the section entitled
"Securities and Investment
Practices" beginning on page 9.
SUPPLEMENT TO THE
SPARTAN(registered trademark) U.S. TREASURY
MONEY MARKET FUND
PROSPECTUS
DATED SEPTEMBER 12, 1994
. SHAREHOLDER MEETING. On
April 19, 1995, shareholders
voted to approve the
conversion (the Conversion) of
the fund from a Massachusetts
business trust to a Delaware
business trust (the Delaware
Trust), revision to the fund's
management contract, and
proposals to modify certain
fundamental investment
policies and limitations for the
fund including a proposal which
modified the fund's borrowing
limitation permitting the fund to
engage in reverse repurchase
agreements.
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.
The fund's amended
management contract
containing a revised
management fee will become
effective May 1, 1995. The
revised management fee
reduces the management fee
that FMR receives from the
fund 0.10%, from 0.55% to
0.45%.
The following information
replaces similar information
found in the "Expenses" section
on page 4.
SPARTAN U.S. TREASURY
Management fee 0.45
%
12b-1 fee None
Other expenses 0.00
%
Total fund operating expenses
0.45%
The following information
replaces that found under the
heading "Management Fee" on
page 10.
The management fee is
calculated and paid to FMR
every month. The fund pays
the fee at the annual rate of
0.45% of its average net
assets.
The following information
supplements the information
found in the section entitled
"Securities and Investment
Practices" beginning on page 9.
TMM-95--4 (Page 1 of 2) April 19, 1995
TMM-95--4 (Page 1 of 2) April 19, 1995
REVERSE REPURCHASE
AGREEMENTS. In a reverse
repurchase agreement, the
fund temporarily transfers
possession of a portfolio
instrument to another party in
return for cash. This could
increase the risk of
fluctuation in the fund's yield
or in the market value of its
assets.
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 accounts 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.
REVERSE REPURCHASE
AGREEMENTS. In a reverse
repurchase agreement, the
fund temporarily transfers
possession of a portfolio
instrument to another party in
return for cash. This could
increase the risk of
fluctuation in the fund's yield
or in the market value of its
assets.
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 accounts 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.
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