SUPPLEMENT TO THE FIDELITY SELECT
PORTFOLIOS(registered trademark) PROSPECTUS
DATED APRIL 29, 1996
   Effective July 18, 1996, Fidelity Select Consumer Products Portfolio
changed its name to Fidelity Select Consumer Industries Portfolio.    
The following information replaces that found in the section entitled "FMR
and Its Affiliates," beginning on page P-34.
Douglas Chase is manager of Automotive and Industrial Materials, which he
has managed since May 1996 and November 1994, respectively. Previously, he
was an equity analyst. Prior to joining Fidelity in 1993, Mr. Chase was a
consultant for Stanford Resources from 1988 to 1991. He received his MBA
from the University of Michigan in 1993.
Lawrence Rakers is manager of Precious Metals and Minerals, Paper and
Forest Products, and American Gold, which he has managed since July 1996,
February 1996, and July 1995, respectively. Mr. Rakers joined Fidelity in
1993. Prior to that, he was a project engineer for Loral Corporation from
1986 to 1993.
Kevin Richardson is manager of Air Transportation, which he has managed
since May 1996. He joined Fidelity in 1994 as an equity analyst, after
receiving his MBA from the University of North Carolina at Chapel Hill.
Previously, he was an equity analyst with Kidder, Peabody & Company.
   Peter Saperstone is manager of Construction and Housing, which he has
managed since August 1996. Previously, he was an equity analyst. Prior to
joining Fidelity in August 1995, Mr. Saperstone was an equity research
analyst at Gabelli & Company, Inc., from 1993 to 1995, and a credit analyst
at National Westminster Bank USA from 1991 to 1993.    
Nick Thakore is manager of Telecommunications, which he has managed since
July 1996. Previously, he was an equity analyst. Mr. Thakore joined
Fidelity in 1993 after receiving an MBA from The Wharton School at the
University of Pennsylvania. Prior to that, he was a real estate analyst for
Prudential Properties Company from 1989 to 1991.
Jason Weiner is manager of Computers, which he has managed since March
1996. Previously, he managed several other Fidelity funds. Mr. Weiner
joined Fidelity in 1991.