FIDELITY FIFTY
SUPPLEMENT TO THE PROSPECTUS DATED AUGUST 31, 1993
The following information replaces the fifth paragraph under the heading
"Share Price" on page 9.
The fund's sales charge may be reduced if you invest directly with Fidelity
or through prototype or prototype-like retirement plans sponsored by FMR or
FMR Corp. Purchases made with assistance or intervention from a financial
intermediary are not eligible. The amount you invest, plus the value of
your account, must fall within the ranges shown below. Call Fidelity to see
if your purchase qualifies.
Ranges                  Sales charge   Net amount invested   
 
$0 - 249,999          3%                3.09%                
 
$250,000 - 499,999    2%                2.04%                
 
$500,000 - 999,999    1%                1.01%                
 
$1,000,000 or more    none              none                 
 
The sales charge will also be reduced by the percentage of any sales charge
you previously paid on investments in other Fidelity funds (not including
Fidelity's Foreign Currency Funds). Similarly, your shares carry credit for
any sales charge you would have paid if the reductions in the table above
had not been available. These sales charge credits only apply if you
continuously owned Fidelity fund shares or a Fidelity brokerage core
account, or participated in The CORPORATEplan for Retirement Program, and
only to purchases made in one of the following ways:  (i) by exchange from
another Fidelity fund; (ii) with proceeds of a transaction within a
Fidelity brokerage core account, including any free credit balance, core
money market fund, or margin availability, to the extent such proceeds were
derived from redemption proceeds from another Fidelity fund; (iii) with
redemption proceeds from one of Fidelity's Foreign Currency Funds, if the
Foreign Currency Fund shares were originally purchased with redemption
proceeds from a Fidelity fund; (iv) through the Directed Dividends Option
(see page 12); or (v) by participants in The CORPORATEplan for Retirement
Program when shares are purchased through plan-qualified loan repayments,
and for exchanges into and out of the Managed Income Portfolio. 
   The following language replaces the information found in item number 7
on page 10.    
   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     
   FIF-94-1 (continued) May 5, 1994    
FIDELITY FIFTY
SUPPLEMENT TO THE PROSPECTUS DATED AUGUST 31, 1993
The following information replaces the fifth paragraph under the heading
"Share Price" on page 9.
The fund's sales charge may be reduced if you invest directly with Fidelity
or through prototype or prototype-like retirement plans sponsored by FMR or
FMR Corp. Purchases made with assistance or intervention from a financial
intermediary are not eligible. The amount you invest, plus the value of
your account, must fall within the ranges shown below. Call Fidelity to see
if your purchase qualifies.
Ranges                  Sales charge   Net amount invested   
 
$0 - 249,999          3%                3.09%                
 
$250,000 - 499,999    2%                2.04%                
 
$500,000 - 999,999    1%                1.01%                
 
$1,000,000 or more    none              none                 
 
The sales charge will also be reduced by the percentage of any sales charge
you previously paid on investments in other Fidelity funds (not including
Fidelity's Foreign Currency Funds). Similarly, your shares carry credit for
any sales charge you would have paid if the reductions in the table above
had not been available. These sales charge credits only apply if you
continuously owned Fidelity fund shares or a Fidelity brokerage core
account, or participated in The CORPORATEplan for Retirement Program, and
only to purchases made in one of the following ways:  (i) by exchange from
another Fidelity fund; (ii) with proceeds of a transaction within a
Fidelity brokerage core account, including any free credit balance, core
money market fund, or margin availability, to the extent such proceeds were
derived from redemption proceeds from another Fidelity fund; (iii) with
redemption proceeds from one of Fidelity's Foreign Currency Funds, if the
Foreign Currency Fund shares were originally purchased with redemption
proceeds from a Fidelity fund; (iv) through the Directed Dividends Option
(see page 12); or (v) by participants in The CORPORATEplan for Retirement
Program when shares are purchased through plan-qualified loan repayments,
and for exchanges into and out of the Managed Income Portfolio. 
   The following language replaces the information found in item number 7
on page 10.    
   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     
   FIF-94-1 (continued) May 5, 1994    
   subsidiaries (a Fidelity trustee or employee), the spouse of 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.    
The following information supplements the eighth paragraph under the
heading "Share Price" beginning on page 10.
Effective February 1, 1994, the sales charge paid to qualified recipients
will be 2.25% of the fund's offering price.
   subsidiaries (a Fidelity trustee or employee), the spouse of 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.    
The following information supplements the eighth paragraph under the
heading "Share Price" beginning on page 10.
Effective February 1, 1994, the sales charge paid to qualified recipients
will be 2.25% of the fund's offering price.