SUPPLEMENT TO THE
SPARTAN NEW YORK
MUNICIPAL FUNDS
PROSPECTUS
DATED MARCH 22, 1994
The following information
replaces similar information
found under "Expenses"
beginning on page 4.
SHAREHOLDER TRANSACTION
EXPENSES are charges you
pay when you buy, sell, or
hold shares of a fund. See
page 27 for more information
about these fees.
Maximum sales charge on
purchases and
reinvested dividends None
Deferred sales charge on
redemptions None
Redemption fee (as a % of
amount redeemed
on shares held less than 180
days):
for Spartan NY Money Market
and
Spartan NY Intermediate None
for Spartan NY High Yield .50%
Exchange and wire transaction
fees $5.00
Checkwriting fee, per check
written $2.00
(available for Spartan NY Money
Market
and Spartan NY Intermediate)
Account closeout fee $5.00
Annual account maintenance fee
$12.00
(for accounts under $2,500)
The following replaces similar
information found under
"Expenses" on page 4.
SPARTAN NY INTERMEDIATE
Management fee (after
reimbursement) .10 %
12b-1 fee None
Other expenses .00 %
Total fund operating expenses
.10 %
SPARTAN NY INTERMEDIATE
Account open Account
closed
After 1 year $1 $6
After 3 years $3 $8
After 5 years $6 $11
After 10 years $13 $18
FMR has voluntarily agreed
to temporarily limit Spartan
NY Intermediate Municipal's
operating expenses to .10%
of its average net assets. If
this agreement was not in
effect, the management fee,
other expenses, and total
operating expenses would be
.55%, .00%, and .55%,
respectively. Expenses
eligible for reimbursement do
not include interest, taxes,
brokerage commissions, or
extraordinary expenses.
SUPPLEMENT TO THE
SPARTAN NEW YORK
MUNICIPAL FUNDS
PROSPECTUS
DATED MARCH 22, 1994
The following information
replaces similar information
found under "Expenses"
beginning on page 4.
SHAREHOLDER TRANSACTION
EXPENSES are charges you
pay when you buy, sell, or
hold shares of a fund. See
page 27 for more information
about these fees.
Maximum sales charge on
purchases and
reinvested dividends None
Deferred sales charge on
redemptions None
Redemption fee (as a % of
amount redeemed
on shares held less than 180
days):
for Spartan NY Money Market
and
Spartan NY Intermediate None
for Spartan NY High Yield .50%
Exchange and wire transaction
fees $5.00
Checkwriting fee, per check
written $2.00
(available for Spartan NY Money
Market
and Spartan NY Intermediate)
Account closeout fee $5.00
Annual account maintenance fee
$12.00
(for accounts under $2,500)
The following replaces similar
information found under
"Expenses" on page 4.
SPARTAN NY INTERMEDIATE
Management fee (after
reimbursement) .10 %
12b-1 fee None
Other expenses .00 %
Total fund operating expenses
.10 %
SPARTAN NY INTERMEDIATE
Account open Account
closed
After 1 year $1 $6
After 3 years $3 $8
After 5 years $6 $11
After 10 years $13 $18
FMR has voluntarily agreed
to temporarily limit Spartan
NY Intermediate Municipal's
operating expenses to .10%
of its average net assets. If
this agreement was not in
effect, the management fee,
other expenses, and total
operating expenses would be
.55%, .00%, and .55%,
respectively. Expenses
eligible for reimbursement do
not include interest, taxes,
brokerage commissions, or
extraordinary expenses.
SNR-95-1 (PAGE 1 OF 2) January 23, 1995
SNR-95-1 (PAGE 1 OF 2) January 23, 1995
The following information
replaces similar information
found in the section entitled
"How to Buy Shares" on
page 20.
Shares are purchased at the
next share price calculated
after your investment is
received and accepted.
Share price is normally
calculated at 4 p.m. Eastern
time.
The following information
replaces similar information
found in the section entitled
"How to Sell Shares" on page
22.
You can arrange to take
money out of your fund
account at any time by selling
(redeeming) some or all of
your shares. Your shares will
be sold at the next share price
calculated after your order is
received and accepted. Share
price is normally calculated at
4 p.m. Eastern time.
The following information
supplements the information
found in the section entitled
"Transaction Details"
beginning on page 27.
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.
The following information
replaces similar information
found in the section entitled
"How to Buy Shares" on page
20.
Shares are purchased at the
next share price calculated
after your investment is
received and accepted.
Share price is normally
calculated at 4 p.m. Eastern
time.
The following information
replaces similar information
found in the section entitled
"How to Sell Shares" on page
22.
You can arrange to take
money out of your fund
account at any time by selling
(redeeming) some or all of
your shares. Your shares will
be sold at the next share price
calculated after your order is
received and accepted. Share
price is normally calculated at
4 p.m. Eastern time.
The following information
supplements the information
found in the section entitled
"Transaction Details"
beginning on page 27.
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.
(PAGE 2 OF 2)
(PAGE 2 OF 2)
SUPPLEMENT TO THE
SPARTAN NEW YORK
MUNICIPAL FUNDS
PROSPECTUS
DATED MARCH 22, 1994
The following information
replaces similar information
found under "Expenses"
beginning on page 4.
SHAREHOLDER TRANSACTION
EXPENSES are charges you pay
when you buy, sell, or hold
shares of a fund. See page 27
for more information about
these fees.
Maximum sales charge on
purchases and
reinvested dividends None
Deferred sales charge on
redemptions None
Redemption fee (as a % of amount
redeemed
on shares held less than 180
days):
for Spartan NY Money Market and
Spartan NY Intermediate None
for Spartan NY High Yield .50%
Exchange and wire transaction
fees $5.00
Checkwriting fee, per check written
$2.00
(available for Spartan NY Money
Market
and Spartan NY Intermediate)
Account closeout fee $5.00
Annual account maintenance fee $
12.00
(for accounts under $2,500)
The following replaces similar
information found under
"Expenses" on page 4.
SPARTAN NY INTERMEDIATE
Management fee (after
reimbursement) .10 %
12b-1 fee None
Other expenses .00 %
Total fund operating expenses
.10 %
SPARTAN NY INTERMEDIATE
Account open Account
closed
After 1 year $1 $6
After 3 years $3 $8
After 5 years $6 $11
After 10 years $13 $18
FMR has voluntarily agreed to
temporarily limit Spartan NY
Intermediate Municipal's
operating expenses to .10% of
its average net assets. If this
agreement was not in effect,
the management fee, other
expenses, and total operating
expenses would be .55%,
.00%, and .55%, respectively.
Expenses eligible for
reimbursement do not include
interest, taxes, brokerage
commissions, or extraordinary
expenses.
SUPPLEMENT TO THE
SPARTAN NEW YORK
MUNICIPAL FUNDS
PROSPECTUS
DATED MARCH 22, 1994
The following information
replaces similar information
found under "Expenses"
beginning on page 4.
SHAREHOLDER TRANSACTION
EXPENSES are charges you pay
when you buy, sell, or hold
shares of a fund. See page 27
for more information about
these fees.
Maximum sales charge on
purchases and
reinvested dividends None
Deferred sales charge on
redemptions None
Redemption fee (as a % of amount
redeemed
on shares held less than 180
days):
for Spartan NY Money Market and
Spartan NY Intermediate None
for Spartan NY High Yield .50%
Exchange and wire transaction
fees $5.00
Checkwriting fee, per check written
$2.00
(available for Spartan NY Money
Market
and Spartan NY Intermediate)
Account closeout fee $5.00
Annual account maintenance fee $
12.00
(for accounts under $2,500)
The following replaces similar
information found under
"Expenses" on page 4.
SPARTAN NY INTERMEDIATE
Management fee (after
reimbursement) .10 %
12b-1 fee None
Other expenses .00 %
Total fund operating expenses
.10 %
SPARTAN NY INTERMEDIATE
Account open Account
closed
After 1 year $1 $6
After 3 years $3 $8
After 5 years $6 $11
After 10 years $13 $18
FMR has voluntarily agreed to
temporarily limit Spartan NY
Intermediate Municipal's
operating expenses to .10% of
its average net assets. If this
agreement was not in effect,
the management fee, other
expenses, and total operating
expenses would be .55%,
.00%, and .55%, respectively.
Expenses eligible for
reimbursement do not include
interest, taxes, brokerage
commissions, or extraordinary
expenses.
SNR-95-1 (PAGE 1 OF 2) January 23, 1995
SNR-95-1 (PAGE 1 OF 2) January 23, 1995
