SUPPLEMENT TO THE 
DAILY MONEY FUND 
U.S. TREASURY PORTFOLIO - CLASS B PROSPECTUS
DATED DECEMBER 20, 1996
The following information replaces the similar information found in the
table under the heading "Expenses" in the "Key Facts" section, on page P-3.
Maximum CDSC (as a % of the lesser          5.00   
of original purchase price or               A      
redemption proceeds)                               
 
Maximum sales charge on reinvested distributions         Non   
                                                         e     
 
Redemption fee         Non   
                       e     
 
Exchange fee         Non   
                     e     
 
A DECLINES OVER 6 YEARS FROM 5.00% TO 0%.
The following information replaces the similar information located on page
P-4.
EXPENSE TABLE EXAMPLE: You would pay the following expenses, including the
maximum front-end sales charge or CDSC, as applicable, on a $1,000
investment, assuming a 5% annual return and either (1) full redemption or
(2) no redemption, at the end of each time period:
If you purchased Class B shares directly in connection with the Program or
by exchange from a Fidelity Advisor equity or long-term bond fund.
 


                                                             
      1 Year              3                    5                   10                   
                          Years                Years               Years                
                                                                      B                 
 
(1)   $ 64A               $    74A             $ 97A               $ 129                
 
(2)   $    14             $    44              $    77             $    129             
 

 
A REFLECTS DEDUCTION OF APPLICABLE CDSC.
B REFLECTS CONVERSION TO INITIAL CLASS SHARES AFTER SEVEN YEARS.
The following information replaces the similar information located on page
P-16.
Class B shares purchased directly in connection with the Program will be
assessed a CDSC based on the following schedule:
From Date of Purchase   Contingent     
                        Deferred       
                        Sales Charge   
 
Less than 1 year         5%   
 
1 year to less than      4%   
2 years                       
 
2 years to less than     3%   
3 years                       
 
3 years to less than     3%   
4 years                       
 
4 years to less than     2%   
5 years                       
 
5 years to less than     1%   
6 years                       
 
6 years to less than     0%   
seven years A                 
 
A AFTER A MAXIMUM HOLDING PERIOD OF SEVEN YEARS, CLASS B SHARES WILL
CONVERT AUTOMATICALLY TO INITIAL CLASS SHARES OF THE FUND.
Investment professionals with whom FDC has agreements receive as
compensation from FDC a concession equal to 4.00% of the amount of your
direct purchase of Class B shares.
 
SUPPLEMENT TO DAILY MONEY FUND 
U. S. TREASURY PORTFOLIO: CLASS B
STATEMENT OF ADDITIONAL INFORMATION
DATED DECEMBER 20, 1996
Effective January 2, 1997, Class B shares of the fund may, upon redemption,
be assessed a contingent deferred sales charge (CDSC) based on the
following schedule:
From Date of Purchase   Contingent     
                        Deferred       
                        Sales Charge   
 
Less than 1 year                      5%   
 
1 year to less than 2 years           4%   
 
2 years to less than 3 years          3%   
 
3 years to less than 4 years          3%   
 
4 years to less than 5 years          2%   
 
5 years to less than 6 years          1%   
 
6 years to less than seven years A    0%   
 
A AFTER A MAXIMUM HOLDING PERIOD OF SEVEN YEARS, CLASS B SHARES WILL
CONVERT AUTOMATICALLY TO INITIAL CLASS SHARES OF THE FUND.
Investment professionals with whom FDC has agreements receive as
compensation from FDC a concession equal to 4.00% of the amount of your
direct purchase of Class B shares.