VARIABLE INSURANCE PRODUCTS FUND II:
ASSET MANAGER PORTFOLIO
SUPPLEMENT TO THE PROSPECTUS
DATED APRIL 30, 1993
Asset Manager Portfolio may not invest more than 35% of its assets in lower
quality debt securities (those rated below Baa by Moody's or BBB by
S&P, and unrated securities judged by FMR to be of equivalent quality).
However, the fund does not currently intend to invest more than 20% of its
total assets in securities judged by FMR to be below investment-grade
quality.
VIPII-94-1 January 3, 1994
