FIDELITY MICHIGAN MUNICIPAL MONEY MARKET FUND
FIDELITY OHIO MUNICIPAL MONEY MARKET FUND
FUNDS OF FIDELITY MUNICIPAL TRUST II
FIDELITY MICHIGAN MUNICIPAL INCOME FUND
FIDELITY MINNESOTA MUNICIPAL INCOME FUND
FIDELITY OHIO MUNICIPAL INCOME FUND
FUNDS OF FIDELITY MUNICIPAL TRUST
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED FEBRUARY 20, 1996
The following replaces similar information found in the "Performance"
section found on page 24:
1996 TAX RATES FOR OHIO
Combined
Federal State Ohio and
Taxable Income* Income Tax Marginal Federal Effective
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
Single Return Joint Return Bracket Rate Tax Bracket**
$ 24,001 - 40,000 -- 28.0% 4.162% 31.00%
$ 40,001 - 58,150 $ 40,101 - 80,000 28.0% 4.857% 31.50%
- -- $ 80,001 - 96,900 28.0% 5.550% 32.00%
$ 58,151 - 80,000 -- 31.0% 4.857% 34.35%
$ 80,001 - 100,000 $ 96,901 - 100,000 31.0% 5.550% 34.83%
$ 100,001 - 121,300 $ 100,001 - 147,700 31.0% 6.444% 35.45%
$ 121,301 - 200,000 $ 147,701 - 200,000 36.0% 6.444% 40.12%
$ 200,001 - 2 63 , 75 0 $ 200,001 - 263,750 36.0% 7.004% 40.48%
$ 263,751 + Above $ 263,751 + Above 39.6% 7.004% 43.83%
</TABLE>
* Net amount subject to federal income tax after deductions and exemptions.
Assumes ordinary income only.
** Excludes the impact of the phaseout of personal exemptions, limitations
on itemized deductions, and other credits, exclusions, and adjustments
which may increase a taxpayer's marginal tax rate. An increase in a
shareholder's marginal tax rate would increase that shareholder's
tax-equivalent yield.
Having determined your effective tax bracket, use the following table to
determine the tax-equivalent yield for a given tax-free yield.
If your effective combined federal and state personal tax rate in 1996 is:
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
To match these 31.00% 31.50% 32.00% 34.35% 34.83% 35.45% 40.12% 40.48% 43.83%
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
tax-free yields: Your taxable investment would have to earn the following yield:
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
3% 4.35% 4.38% 4.41% 4.57% 4.60% 4.65% 5.01% 5.04% 5.34%
4% 5.80% 5.84% 5.88% 6.09% 6.14% 6.20% 6.68% 6.72% 7.12%
5% 7.25% 7.30% 7.35% 7.62% 7.67% 7.75% 8.35% 8.40% 8.90%
6% 8.70% 8.76% 8.82% 9.14% 9.21% 9.30% 10.02% 10.08% 10.68%
7% 10.14% 10.22% 10.29% 10.66% 10.74% 10.84% 11.69% 11.76% 12.46%
</TABLE>
