VARIABLE INSURANCE PRODUCTS FUND II
497, 1995-09-05
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VARIABLE INSURANCE PRODUCTS FUND II:
INVESTMENT GRADE BOND PORTFOLIO
SUPPLEMENT TO THE PROSPECTUS DATED APRIL 30, 1995
The following information supplements that found under the section entitled
"FMR and Its Affiliates".
Michael Gray is manager of VIPII: Investment Grade Bond Portfolio, which he
has managed since August 1995. Mr. Gray also manages Advisor Limited Term
Bond, Intermediate Bond, Investment Grade Bond, and Spartan Investment
Grade Bond. Mr. Gray joined Fidelity in 1982.
N.VIPigb-STK-95-2       September 4, 1995



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