SUPPLEMENT TO THE
SPARTAN(registered trademark) U.S. TREASURY MONEY MARKET FUND,
SPARTAN(registered trademark) U.S. GOVERNMENT MONEY MARKET FUND, AND
SPARTAN(registered trademark) MONEY MARKET FUND JUNE 18, 1998
PROSPECTUS
The following information replaces the similar information found in
the fifth paragraph under "Investment Principles and Risks" on page
12.
THE FUNDS comply with industry- standard requirements for the quality,
maturity, and diversification of their investments, which are designed
to help maintain a stable $1.00 share price. Of course, there is no
guarantee that the funds will maintain a stable $1.00 share price.
While the funds will be charged premiums by a mutual insurance company
for coverage of specified types of losses related to default or
bankruptcy on certain securities, a fund may incur losses regardless
of the insurance. The funds will purchase only high-quality securities
that FMR believes present minimal credit risks and will observe
maturity restrictions on securities they buy. In general, securities
with longer maturities are more vulnerable to price changes, although
they may provide higher yields. It is possible that a major change in
interest rates or a default on the funds' investments could cause
their share prices (and the value of your investment) to change.
SUPPLEMENT TO THE SPARTAN(registered trademark) U.S. TREASURY MONEY
MARKET FUND, SPARTAN(registered trademark) U.S. GOVERNMENT MONEY
MARKET FUND, AND SPARTAN(registered trademark) MONEY MARKET FUND
JUNE 18, 1998
STATEMENT OF ADDITIONAL INFORMATION
THE FOLLOWING FUNDAMENTAL LIMITATION REPLACES LIMITATION (2) FOR EACH
FUND FOUND IN THE "INVESTMENT POLICIES AND LIMITATIONS" SECTION
BEGINNING ON PAGE 2.
(2) issue senior securities, except in connection with the insurance
program established by the fund pursuant to an exemptive order issued
by the Securities and Exchange Commission or as otherwise permitted
under the Investment Company Act of 1940;
THE FOLLOWING INFORMATION SUPPLEMENTS THE INFORMATION FOUND IN THE
"INVESTMENT POLICIES AND LIMITATIONS" SECTION BEGINNING ON PAGE 2.
MONEY MARKET INSURANCE. Each fund participates in a mutual insurance
company solely with other funds advised by FMR or its affiliates. This
company provides insurance coverage for losses on certain money market
instruments held by a participating fund (eligible instruments),
including losses from nonpayment of principal or interest or a
bankruptcy or insolvency of the issuer or credit support provider, if
any. The insurance does not cover losses resulting from changes in
interest rates or other market developments. Each fund is charged an
annual premium for the insurance coverage and may be subject to a
special assessment of up to approximately two and one-half times the
fund's annual gross premium if covered losses exceed certain levels. A
participating fund may recover no more than $100 million annually,
including all other claims of insured funds, and may only recover if
the amount of the loss exceeds 0.30% of its eligible instruments. Each
fund may incur losses regardless of the insurance.
