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<PAGE> PAGE 3
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<PAGE> PAGE 9
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 14
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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SIGNATURE JOHN H. COSTELLO
TITLE ASST. TREASURER
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80,247
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
3,901,122
<PAYABLE-FOR-SECURITIES>
45,463
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
83,591
<TOTAL-LIABILITIES>
129,054
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
2,662,045
<SHARES-COMMON-STOCK>
26,706
<SHARES-COMMON-PRIOR>
18,340
<ACCUMULATED-NII-CURRENT>
38,273
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
15,000
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
1,056,750
<NET-ASSETS>
3,772,068
<DIVIDEND-INCOME>
41,091
<INTEREST-INCOME>
5,249
<OTHER-INCOME>
0
<EXPENSES-NET>
8,005
<NET-INVESTMENT-INCOME>
38,335
<REALIZED-GAINS-CURRENT>
16,171
<APPREC-INCREASE-CURRENT>
661,278
<NET-CHANGE-FROM-OPS>
715,784
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
26,060
<DISTRIBUTIONS-OF-GAINS>
60,360
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
13,244
<NUMBER-OF-SHARES-REDEEMED>
5,630
<SHARES-REINVESTED>
752
<NET-CHANGE-IN-ASSETS>
1,674,026
<ACCUMULATED-NII-PRIOR>
25,920
<ACCUMULATED-GAINS-PRIOR>
59,268
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
6,920
<INTEREST-EXPENSE>
1
<GROSS-EXPENSE>
10,015
<AVERAGE-NET-ASSETS>
2,874,602
<PER-SHARE-NAV-BEGIN>
114.400
<PER-SHARE-NII>
1.650
<PER-SHARE-GAIN-APPREC>
29.700
<PER-SHARE-DIVIDEND>
1.360
<PER-SHARE-DISTRIBUTIONS>
3.150
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
141.240
<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 Initial Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
YEAR
<FISCAL-YEAR-END>
DEC-31-1998
<PERIOD-END>
DEC-31-1998
<INVESTMENTS-AT-COST>
4,612,908
<INVESTMENTS-AT-VALUE>
6,544,835
<RECEIVABLES>
25,918
<ASSETS-OTHER>
717
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
6,571,470
<PAYABLE-FOR-SECURITIES>
17,014
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
13,310
<TOTAL-LIABILITIES>
30,324
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
4,419,510
<SHARES-COMMON-STOCK>
261,431
<SHARES-COMMON-PRIOR>
206,037
<ACCUMULATED-NII-CURRENT>
30,791
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
158,841
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
1,932,004
<NET-ASSETS>
6,541,146
<DIVIDEND-INCOME>
28,608
<INTEREST-INCOME>
35,661
<OTHER-INCOME>
0
<EXPENSES-NET>
33,190
<NET-INVESTMENT-INCOME>
31,079
<REALIZED-GAINS-CURRENT>
176,892
<APPREC-INCREASE-CURRENT>
1,158,423
<NET-CHANGE-FROM-OPS>
1,366,394
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
28,958
<DISTRIBUTIONS-OF-GAINS>
213,047
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
78,130
<NUMBER-OF-SHARES-REDEEMED>
35,243
<SHARES-REINVESTED>
12,507
<NET-CHANGE-IN-ASSETS>
2,429,555
<ACCUMULATED-NII-PRIOR>
28,707
<ACCUMULATED-GAINS-PRIOR>
195,427
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
29,604
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
35,063
<AVERAGE-NET-ASSETS>
4,974,162
<PER-SHARE-NAV-BEGIN>
19.940
<PER-SHARE-NII>
.130
<PER-SHARE-GAIN-APPREC>
5.540
<PER-SHARE-DIVIDEND>
.140
<PER-SHARE-DISTRIBUTIONS>
1.030
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
24.440
<EXPENSE-RATIO>
70
<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>
YEAR
<FISCAL-YEAR-END>
DEC-31-1998
<PERIOD-END>
DEC-31-1998
<INVESTMENTS-AT-COST>
4,612,908
<INVESTMENTS-AT-VALUE>
6,544,835
<RECEIVABLES>
25,918
<ASSETS-OTHER>
717
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
6,571,470
<PAYABLE-FOR-SECURITIES>
17,014
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
13,310
<TOTAL-LIABILITIES>
30,324
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
4,419,510
<SHARES-COMMON-STOCK>
6,248
<SHARES-COMMON-PRIOR>
187
<ACCUMULATED-NII-CURRENT>
30,791
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
158,841
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
1,932,004
<NET-ASSETS>
6,541,146
<DIVIDEND-INCOME>
28,608
<INTEREST-INCOME>
35,661
<OTHER-INCOME>
0
<EXPENSES-NET>
33,190
<NET-INVESTMENT-INCOME>
31,079
<REALIZED-GAINS-CURRENT>
176,892
<APPREC-INCREASE-CURRENT>
1,158,423
<NET-CHANGE-FROM-OPS>
1,366,394
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
57
<DISTRIBUTIONS-OF-GAINS>
419
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
6,110
<NUMBER-OF-SHARES-REDEEMED>
74
<SHARES-REINVESTED>
25
<NET-CHANGE-IN-ASSETS>
2,429,555
<ACCUMULATED-NII-PRIOR>
28,707
<ACCUMULATED-GAINS-PRIOR>
195,427
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
29,604
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
35,063
<AVERAGE-NET-ASSETS>
61,313
<PER-SHARE-NAV-BEGIN>
19.930
<PER-SHARE-NII>
.110
<PER-SHARE-GAIN-APPREC>
5.550
<PER-SHARE-DIVIDEND>
.140
<PER-SHARE-DISTRIBUTIONS>
1.030
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
24.420
<EXPENSE-RATIO>
80
<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 PortfolioIntial Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
YEAR
<FISCAL-YEAR-END>
DEC-31-1998
<PERIOD-END>
DEC-31-1998
<INVESTMENTS-AT-COST>
437,408
<INVESTMENTS-AT-VALUE>
530,959
<RECEIVABLES>
2,419
<ASSETS-OTHER>
6
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
533,384
<PAYABLE-FOR-SECURITIES>
720
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
625
<TOTAL-LIABILITIES>
1,345
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
405,733
<SHARES-COMMON-STOCK>
31,056
<SHARES-COMMON-PRIOR>
29,540
<ACCUMULATED-NII-CURRENT>
12,652
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
19,614
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
94,040
<NET-ASSETS>
532,039
<DIVIDEND-INCOME>
6,347
<INTEREST-INCOME>
10,090
<OTHER-INCOME>
0
<EXPENSES-NET>
3,550
<NET-INVESTMENT-INCOME>
12,887
<REALIZED-GAINS-CURRENT>
19,750
<APPREC-INCREASE-CURRENT>
46,973
<NET-CHANGE-FROM-OPS>
79,610
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
9,747
<DISTRIBUTIONS-OF-GAINS>
45,581
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
5,167
<NUMBER-OF-SHARES-REDEEMED>
7,362
<SHARES-REINVESTED>
3,711
<NET-CHANGE-IN-ASSETS>
48,798
<ACCUMULATED-NII-PRIOR>
9,446
<ACCUMULATED-GAINS-PRIOR>
45,512
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
2,924
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
3,638
<AVERAGE-NET-ASSETS>
495,198
<PER-SHARE-NAV-BEGIN>
16.360
<PER-SHARE-NII>
.410
<PER-SHARE-GAIN-APPREC>
2.190
<PER-SHARE-DIVIDEND>
.340
<PER-SHARE-DISTRIBUTIONS>
1.590
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
17.030
<EXPENSE-RATIO>
73
<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> 52
<NAME> Asset Manager: Growth PortfolioService Class
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
YEAR
<FISCAL-YEAR-END>
DEC-31-1998
<PERIOD-END>
DEC-31-1998
<INVESTMENTS-AT-COST>
437,408
<INVESTMENTS-AT-VALUE>
530,959
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2,419
<ASSETS-OTHER>
6
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
533,384
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720
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
625
<TOTAL-LIABILITIES>
1,345
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
405,733
<SHARES-COMMON-STOCK>
187
<SHARES-COMMON-PRIOR>
1
<ACCUMULATED-NII-CURRENT>
12,652
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
19,614
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
94,040
<NET-ASSETS>
532,039
<DIVIDEND-INCOME>
6,347
<INTEREST-INCOME>
10,090
<OTHER-INCOME>
0
<EXPENSES-NET>
3,550
<NET-INVESTMENT-INCOME>
12,887
<REALIZED-GAINS-CURRENT>
19,750
<APPREC-INCREASE-CURRENT>
46,973
<NET-CHANGE-FROM-OPS>
79,610
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
0
<DISTRIBUTIONS-OF-GAINS>
1
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
203
<NUMBER-OF-SHARES-REDEEMED>
17
<SHARES-REINVESTED>
0
<NET-CHANGE-IN-ASSETS>
48,798
<ACCUMULATED-NII-PRIOR>
9,446
<ACCUMULATED-GAINS-PRIOR>
45,512
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
2,924
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
3,638
<AVERAGE-NET-ASSETS>
1,111
<PER-SHARE-NAV-BEGIN>
16.350
<PER-SHARE-NII>
.400
<PER-SHARE-GAIN-APPREC>
2.140
<PER-SHARE-DIVIDEND>
.340
<PER-SHARE-DISTRIBUTIONS>
1.590
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
16.960
<EXPENSE-RATIO>
89
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
