SUPPLEMENT TO FIDELITY'S NEW YORK MUNICIPAL FUNDS' MARCH 22, 1999
PROSPECTUS
SHAREHOLDER MEETING. On or about February 16, 2000, a
meeting of the shareholders of Spartan (registered trademark)
New York Municipal Income Fund will be held to approve various
proposals. Shareholders of record on December 20, 1999 are entitled to
vote at the meeting.
For more detailed information concerning the proposals under
consideration, please contact Fidelity at 1-800-544-6666 to request a
free copy of the proxy statement.
The following information replaces the third paragraph in the
"Dividends and Capital Gains Distributions" section beginning on page
28.
However, on any day that the principal bond markets close early (as
recommended by the Bond Market Association) or the Federal Reserve
Bank of New York (New York Fed) closes early, New York Municipal Money
Market may advance the time on that day by which wire purchase orders
must be placed so that shares earn dividends on the day of purchase.
In addition, on any day that the principal bond markets do not open
(as recommended by the Bond Market Association) or the New York Fed
does not open, shares begin to earn dividends on the first business
day following the day of purchase.
The following information replaces the sixth paragraph in the
"Dividends and Capital Gains Distributions" section beginning on page
28.
However, on any day that the principal bond markets close early (as
recommended by the Bond Market Association) or the New York Fed closes
early, New York Municipal Money Market may set a time after which
shares redeemed by wire order earn dividends until, but not including,
the next business day following the day of redemption. On any day that
the principal bond markets do not open (as recommended by the Bond
Market Association) or the New York Fed does not open, shares earn
dividends until, but not including, the next business day following
the day of redemption.
