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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 16
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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008 A000401 FIDELITY MANAGEMENT & RESEARCH COMPANY
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008 D010402 LONDON
008 D050402 ENGLAND
008 A000403 FIDELITY MANAGEMENT & RESEARCH (FAR EAST)
008 B000403 S
<PAGE> PAGE 21
008 C000403 801-28774
008 D010403 TOKYO
008 D050403 JAPAN
015 A000401 BROWN BROTHERS HARRIMAN & CO.
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015 C030401 02109
015 E010401 X
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<PAGE> PAGE 22
037 000400 N
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039 000400 N
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042 D000400 0
042 E000400 0
042 F000400 0
042 G000400 0
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048 I010400 0
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050 000400 N
051 000400 N
052 000400 Y
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055 A000400 N
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<PAGE> PAGE 23
057 000400 N
062 A000400 N
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062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
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066 B000400 N
066 C000400 Y
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 Y
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 Y
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
<PAGE> PAGE 24
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 Y
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 Y
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
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071 B000400 4572793
071 C000400 4355608
071 D000400 105
072 A000400 6
072 B000400 12626
072 C000400 16524
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072 S000400 25
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<PAGE> PAGE 25
072EE000400 213466
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008 A000501 FIDELITY MANAGEMENT & RESEARCH COMPANY
008 B000501 A
008 C000501 801-7884
008 D010501 BOSTON
008 D020501 MA
008 D030501 02109
008 A000502 FIDELITY MANAGEMENT & RESEARCH (UK), INC.
008 B000502 S
008 C000502 801-28773
008 D010502 LONDON
008 D050502 ENGLAND
008 A000503 FIDELITY MANAGEMENT & RESEARCH (FAR EAST)
008 B000503 S
<PAGE> PAGE 26
008 C000503 801-28774
008 D010503 TOKYO
008 D050503 JAPAN
015 A000501 THE CHASE MANHATTAN BANK
015 B000501 C
015 C010501 NEW YORK
015 C020501 NY
015 C030501 10036
015 E010501 X
024 000500 Y
025 A000501 TAXABLE CENTRAL CASH FUND
025 B000501 04-3331103
025 C000501 D
025 D000501 17717
025 A000502 LEHMAN BROTHERS, INC.
025 B000502 13-2518466
025 C000502 E
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025 B000504 13-5659485
025 C000504 D
025 D000504 628
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025 B000505 13-5674085
025 C000505 D
025 D000505 500
025 A000506 MORGAN (J.P.) SECURITIES INC.
025 B000506 13-3224016
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025 C000507 D
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<PAGE> PAGE 27
028 C040500 8164
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<PAGE> PAGE 28
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<PAGE> PAGE 29
070 B020500 N
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070 E020500 N
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<PAGE> PAGE 30
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<PAGE> PAGE 31
074 X000500 22
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SIGNATURE JOHN H. COSTELLO
TITLE ASST. TREASURER
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<SHARES-COMMON-PRIOR>
18,340
<ACCUMULATED-NII-CURRENT>
17,566
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
10,939
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
767,951
<NET-ASSETS>
3,084,171
<DIVIDEND-INCOME>
18,331
<INTEREST-INCOME>
2,880
<OTHER-INCOME>
0
<EXPENSES-NET>
3,582
<NET-INVESTMENT-INCOME>
17,629
<REALIZED-GAINS-CURRENT>
12,108
<APPREC-INCREASE-CURRENT>
372,480
<NET-CHANGE-FROM-OPS>
402,217
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
26,060
<DISTRIBUTIONS-OF-GAINS>
60,360
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
6,839
<NUMBER-OF-SHARES-REDEEMED>
2,072
<SHARES-REINVESTED>
752
<NET-CHANGE-IN-ASSETS>
986,129
<ACCUMULATED-NII-PRIOR>
25,920
<ACCUMULATED-GAINS-PRIOR>
59,268
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
3,109
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
4,515
<AVERAGE-NET-ASSETS>
2,597,025
<PER-SHARE-NAV-BEGIN>
114.400
<PER-SHARE-NII>
.830
<PER-SHARE-GAIN-APPREC>
18.540
<PER-SHARE-DIVIDEND>
1.360
<PER-SHARE-DISTRIBUTIONS>
3.150
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
129.260
<EXPENSE-RATIO>
28
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831016
<NAME> Variable Insurance Products Fund II
<SERIES>
<NUMBER> 41
<NAME> Contrafund Portfolio
Intital Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
6-MOS
<FISCAL-YEAR-END>
DEC-31-1998
<PERIOD-END>
JUN-30-1998
<INVESTMENTS-AT-COST>
4,181,912
<INVESTMENTS-AT-VALUE>
5,289,123
<RECEIVABLES>
95,895
<ASSETS-OTHER>
6,415
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
5,391,433
<PAYABLE-FOR-SECURITIES>
205,147
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
3,953
<TOTAL-LIABILITIES>
209,100
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
3,719,883
<SHARES-COMMON-STOCK>
233,217
<SHARES-COMMON-PRIOR>
206,036
<ACCUMULATED-NII-CURRENT>
13,399
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
341,802
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
1,107,249
<NET-ASSETS>
5,182,333
<DIVIDEND-INCOME>
16,524
<INTEREST-INCOME>
12,627
<OTHER-INCOME>
0
<EXPENSES-NET>
15,197
<NET-INVESTMENT-INCOME>
13,954
<REALIZED-GAINS-CURRENT>
359,592
<APPREC-INCREASE-CURRENT>
333,668
<NET-CHANGE-FROM-OPS>
707,214
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
28,958
<DISTRIBUTIONS-OF-GAINS>
57
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
30,172
<NUMBER-OF-SHARES-REDEEMED>
15,498
<SHARES-REINVESTED>
12,507
<NET-CHANGE-IN-ASSETS>
1,070,742
<ACCUMULATED-NII-PRIOR>
28,707
<ACCUMULATED-GAINS-PRIOR>
195,427
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
13,540
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
16,048
<AVERAGE-NET-ASSETS>
223,242
<PER-SHARE-NAV-BEGIN>
19.940
<PER-SHARE-NII>
.060
<PER-SHARE-GAIN-APPREC>
3.120
<PER-SHARE-DIVIDEND>
.140
<PER-SHARE-DISTRIBUTIONS>
1.030
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
21.950
<EXPENSE-RATIO>
71
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831016
<NAME> Variable Insurance Products Fund II
<SERIES>
<NUMBER> 42
<NAME> Contrafund Portfolio
Service Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
6-MOS
<FISCAL-YEAR-END>
DEC-31-1998
<PERIOD-END>
JUN-30-1998
<INVESTMENTS-AT-COST>
4,181,912
<INVESTMENTS-AT-VALUE>
5,289,123
<RECEIVABLES>
95,895
<ASSETS-OTHER>
6,415
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
5,391,433
<PAYABLE-FOR-SECURITIES>
205,147
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
3,953
<TOTAL-LIABILITIES>
209,100
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
3,719,883
<SHARES-COMMON-STOCK>
2,832
<SHARES-COMMON-PRIOR>
187
<ACCUMULATED-NII-CURRENT>
13,399
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
341,802
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
1,107,249
<NET-ASSETS>
5,182,333
<DIVIDEND-INCOME>
16,524
<INTEREST-INCOME>
12,627
<OTHER-INCOME>
0
<EXPENSES-NET>
15,197
<NET-INVESTMENT-INCOME>
13,954
<REALIZED-GAINS-CURRENT>
359,592
<APPREC-INCREASE-CURRENT>
333,668
<NET-CHANGE-FROM-OPS>
707,214
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
57
<DISTRIBUTIONS-OF-GAINS>
418
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
2,622
<NUMBER-OF-SHARES-REDEEMED>
2
<SHARES-REINVESTED>
25
<NET-CHANGE-IN-ASSETS>
1,070,742
<ACCUMULATED-NII-PRIOR>
28,707
<ACCUMULATED-GAINS-PRIOR>
195,427
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
13,540
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
16,048
<AVERAGE-NET-ASSETS>
1,252
<PER-SHARE-NAV-BEGIN>
19.930
<PER-SHARE-NII>
060
<PER-SHARE-GAIN-APPREC>
3.130
<PER-SHARE-DIVIDEND>
.140
<PER-SHARE-DISTRIBUTIONS>
1.030
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
21.950
<EXPENSE-RATIO>
81
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831016
<NAME> Variable Insurance Products Fund II
<SERIES>
<NUMBER> 51
<NAME> Asset Manager: Growth Portfolio
Initial Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
6-MOS
<FISCAL-YEAR-END>
DEC-31-1998
<PERIOD-END>
JUN-30-1998
<INVESTMENTS-AT-COST>
460,667
<INVESTMENTS-AT-VALUE>
530,383
<RECEIVABLES>
5,057
<ASSETS-OTHER>
0
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
535,440
<PAYABLE-FOR-SECURITIES>
11,662
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
1,236
<TOTAL-LIABILITIES>
12,898
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
423,364
<SHARES-COMMON-STOCK>
32,394
<SHARES-COMMON-PRIOR>
29,540
<ACCUMULATED-NII-CURRENT>
5,955
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
23,507
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
69,716
<NET-ASSETS>
522,542
<DIVIDEND-INCOME>
3,067
<INTEREST-INCOME>
4,793
<OTHER-INCOME>
0
<EXPENSES-NET>
1,755
<NET-INVESTMENT-INCOME>
6,105
<REALIZED-GAINS-CURRENT>
23,730
<APPREC-INCREASE-CURRENT>
22,648
<NET-CHANGE-FROM-OPS>
52,483
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
9,747
<DISTRIBUTIONS-OF-GAINS>
45,581
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
3,232
<NUMBER-OF-SHARES-REDEEMED>
4,089
<SHARES-REINVESTED>
3,711
<NET-CHANGE-IN-ASSETS>
39,301
<ACCUMULATED-NII-PRIOR>
9,446
<ACCUMULATED-GAINS-PRIOR>
45,512
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
1,486
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
1,805
<AVERAGE-NET-ASSETS>
503,644
<PER-SHARE-NAV-BEGIN>
16.360
<PER-SHARE-NII>
.190
<PER-SHARE-GAIN-APPREC>
1.480
<PER-SHARE-DIVIDEND>
.340
<PER-SHARE-DISTRIBUTIONS>
1.590
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
16.100
<EXPENSE-RATIO>
73
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
[ARTICLE] 6
[CIK] 0000831016
[NAME] Variable Insurance Products Fund II
[SERIES]
[NUMBER] 52
[NAME] Asset Manager: Growth Portfolio
Service Class
[MULTIPLIER] 1,000
<TABLE>
<S>
<C>
[PERIOD-TYPE]
6-MOS
[FISCAL-YEAR-END]
DEC-31-1998
[PERIOD-END]
JUN-30-1998
[INVESTMENTS-AT-COST]
460,667
[INVESTMENTS-AT-VALUE]
530,383
[RECEIVABLES]
5,057
[ASSETS-OTHER]
0
[OTHER-ITEMS-ASSETS]
0
[TOTAL-ASSETS]
535,440
[PAYABLE-FOR-SECURITIES]
11,662
[SENIOR-LONG-TERM-DEBT]
0
[OTHER-ITEMS-LIABILITIES]
1,236
[TOTAL-LIABILITIES]
12,898
[SENIOR-EQUITY]
0
[PAID-IN-CAPITAL-COMMON]
423,364
[SHARES-COMMON-STOCK]
67
[SHARES-COMMON-PRIOR]
1
[ACCUMULATED-NII-CURRENT]
5,955
[OVERDISTRIBUTION-NII]
0
[ACCUMULATED-NET-GAINS]
23,507
[OVERDISTRIBUTION-GAINS]
0
[ACCUM-APPREC-OR-DEPREC]
69,716
[NET-ASSETS]
522,542
[DIVIDEND-INCOME]
3,067
[INTEREST-INCOME]
4,793
[OTHER-INCOME]
0
[EXPENSES-NET]
1,755
[NET-INVESTMENT-INCOME]
6,105
[REALIZED-GAINS-CURRENT]
23,730
[APPREC-INCREASE-CURRENT]
22,648
[NET-CHANGE-FROM-OPS]
52,483
[EQUALIZATION]
0
[DISTRIBUTIONS-OF-INCOME]
0
[DISTRIBUTIONS-OF-GAINS]
1
[DISTRIBUTIONS-OTHER]
0
[NUMBER-OF-SHARES-SOLD]
66
[NUMBER-OF-SHARES-REDEEMED]
0
[SHARES-REINVESTED]
0
[NET-CHANGE-IN-ASSETS]
39,301
[ACCUMULATED-NII-PRIOR]
9,446
[ACCUMULATED-GAINS-PRIOR]
45,512
[OVERDISTRIB-NII-PRIOR]
0
[OVERDIST-NET-GAINS-PRIOR]
0
[GROSS-ADVISORY-FEES]
1,486
[INTEREST-EXPENSE]
0
[GROSS-EXPENSE]
1,805
[AVERAGE-NET-ASSETS]
259
[PER-SHARE-NAV-BEGIN]
16.350
[PER-SHARE-NII]
.190
[PER-SHARE-GAIN-APPREC]
1.430
[PER-SHARE-DIVIDEND]
.340
[PER-SHARE-DISTRIBUTIONS]
1.590
[RETURNS-OF-CAPITAL]
0
[PER-SHARE-NAV-END]
16.040
[EXPENSE-RATIO]
83
[AVG-DEBT-OUTSTANDING]
0
[AVG-DEBT-PER-SHARE]
0
</TABLE>
