FIDELITY CONTRAFUND
SUPPLEMENT TO THE PROSPECTUS 
DATED FEBRUARY 19, 1994
   The following information     
   replaces similar information     
   contained in the table found on     
   page 5.    
   SELECTED PER-SHARE DATA    
   Year ended December 31, 1993    
   Income from Investment 
    
   Operations
    
      Net investment income      
       .14
    
      Net realized and unrealized
    
        gain (loss) on investments       
   5.66
    
   Total from investment        
          
    
     operations         
   5.80    
The following information 
supplements that found in the 
"Minimum Investments" table on 
page 10.
These minimums may vary for a 
Fidelity Payroll Deduction 
Program account in the fund. 
Refer to the program's materials 
for details.
The following information replaces 
the similar language found on 
page 20.
FDC collects the proceeds from 
each fund's 3% sales charge and 
may pay a portion of them to 
securities dealers who have sold 
fund shares, or to others, 
including banks and other 
financial institutions (qualified 
recipients), under special 
arrangements in connection with 
FDC's sales activities. The sales 
charge paid to qualified 
recipients is 2.25% of a funds 
offering price.
The following information 
replaces similar language found 
in the following items in the 
"Sales Charge Reductions and 
Waivers" section beginning on 
page 21.
(7) If you are a current or former 
trustee or officer of a Fidelity 
fund or a current or retired 
officer, director, or regular 
employee of FMR Corp. or its 
direct or indirect subsidiaries (a 
Fidelity Trustee or employee), 
the spouse of a Fidelity Trustee 
or employee, a Fidelity Trustee 
or employee acting as custodian 
for a minor child, or a person 
acting as Trustee of a trust for the 
sole benefit of the minor child of 
a Fidelity Trustee or employee.
(10) If you are a registered 
investment adviser (RIA) 
purchasing for your discretionary 
accounts, provided you execute 
a Fidelity RIA load waiver 
agreement which specifies 
certain aggregate minimum and 
operating provisions. Except for 
correspondents of National 
Financial Services Corporation, 
this waiver is available only for 
shares purchased directly from 
Fidelity, and is unavailable if the 
RIA is part of an organization 
principally engaged in the 
brokerage business.
(11) If you are a trust institution or 
bank trust department 
purchasing for your 
non-discretionary, 
non-retirement fiduciary 
accounts, provided you execute 
a Fidelity Trust load waiver 
agreement which specifies 
certain aggregate minimum and 
operating provisions. This 
waiver is available only for 
shares purchased either directly 
from Fidelity or through a 
bank-affiliated broker and is 
unavailable, if the trust 
department or institution is part 
of an organization not principally 
engaged in banking or trust 
activities.
FIDELITY 
CONTRAFUND
SUPPLEMENT TO THE PROSPECTUS 
DATED FEBRUARY 19, 1994
   The following information     
   replaces similar information     
   contained in the table found on     
   page 5.    
   SELECTED PER-SHARE DATA    
   Year ended December 31,     
   1993    
   Income from Investment 
    
   Operations
    
      Net investment income      
       .14
    
      Net realized and unrealized
    
        gain (loss) on investments       
   5.66
    
   Total from investment        
          
    
     operations         
   5.80    
The following information 
supplements that found in the 
"Minimum Investments" table on 
page 10.
These minimums may vary for a 
Fidelity Payroll Deduction 
Program account in the fund. 
Refer to the program's materials 
for details.
The following information 
replaces the similar language 
found on page 20.
FDC collects the proceeds from 
each fund's 3% sales charge and 
may pay a portion of them to 
securities dealers who have sold 
fund shares, or to others, 
including banks and other 
financial institutions (qualified 
recipients), under special 
arrangements in connection with 
FDC's sales activities. The sales 
charge paid to qualified 
recipients is 2.25% of a funds 
offering price.
The following information 
replaces similar language found 
in the following items in the 
"Sales Charge Reductions and 
Waivers" section beginning on 
page 21.
(7) If you are a current or former 
trustee or officer of a Fidelity 
fund or a current or retired 
officer, director, or regular 
employee of FMR Corp. or its 
direct or indirect subsidiaries (a 
Fidelity Trustee or employee), 
the spouse of a Fidelity Trustee 
or employee, a Fidelity Trustee 
or employee acting as custodian 
for a minor child, or a person 
acting as Trustee of a trust for 
the sole benefit of the minor child 
of a Fidelity Trustee or 
employee.
(10) If you are a registered 
investment adviser (RIA) 
purchasing for your 
discretionary accounts, provided 
you execute a Fidelity RIA load 
waiver agreement which 
specifies certain aggregate 
minimum and operating 
provisions. Except for 
correspondents of National 
Financial Services Corporation, 
this waiver is available only for 
shares purchased directly from 
Fidelity, and is unavailable if the 
RIA is part of an organization 
principally engaged in the 
brokerage business.
(11) If you are a trust institution or 
bank trust department 
purchasing for your 
non-discretionary, 
non-retirement fiduciary 
accounts, provided you execute 
a Fidelity Trust load waiver 
agreement which specifies 
certain aggregate minimum and 
operating provisions. This 
waiver is available only for 
shares purchased either directly 
from Fidelity or through a 
bank-affiliated broker and is 
unavailable, if the trust 
department or institution is part 
of an organization not principally 
engaged in banking or trust 
activities.
CON-94-3 (continued) August 17, 1994 CON-94-3 (continued)     August
17,1994
 
The following information 
supplements that found in the 
"Sales Charge Reductions and 
Waivers" section beginning on 
page 21.
(12) If you invest through a 
non-prototype pension or 
profit-sharing plan that 
maintains all of its mutual fund 
assets in Fidelity mutual funds, 
provided the plan executes a 
Fidelity non-prototype sales 
charge waiver request form 
confirming its qualification.(13) If 
you invest as part of a payroll 
deduction program through an 
employer who is a member of the 
Fidelity Retirement Client 
Advisory Group or the Fidelity 
Retail Advisory Group, provided 
the employer enters into a 
Fidelity payroll deduction load 
waiver agreement which 
specifies certain qualifying 
restrictions and operating 
provisions.
The following language replaces 
the similar language found at the 
end of the "Sales Charge 
Reductions and Waivers" 
section beginning on page 21.
These waivers must be qualified 
through FDC in advance. More 
detailed information about 
waivers (1), (2), (5), (9), (10), 
and (13) is contained in the 
Statement of Additional 
Information. A representative  of 
your plan or organization should 
call Fidelity for more information.
   
The following information 
supplements that found in the 
"Sales Charge Reductions and 
Waivers" section beginning on 
page 21.
(12) If you invest through a 
non-prototype pension or 
profit-sharing plan that 
maintains all of its mutual fund 
assets in Fidelity mutual funds, 
provided the plan executes a 
Fidelity non-prototype sales 
charge waiver request form 
confirming its qualification.(13) If 
you invest as part of a payroll 
deduction program through an 
employer who is a member of the 
Fidelity Retirement Client 
Advisory Group or the Fidelity 
Retail Advisory Group, provided 
the employer enters into a 
Fidelity payroll deduction load 
waiver agreement which 
specifies certain qualifying 
restrictions and operating 
provisions.
The following language replaces 
the similar language found at the 
end of the "Sales Charge 
Reductions and Waivers" 
section beginning on page 21.
These waivers must be qualified 
through FDC in advance. More 
detailed information about 
waivers (1), (2), (5), (9), (10), 
and (13) is contained in the 
Statement of Additional 
Information. A representative  of 
your plan or organization should 
call Fidelity for more information.