[February 4, 1999]

Fidelity's newest mutual fund, Fidelity Growth and Income II Portfolio, is now available to UC 403(b) and DC Plan participants. The new fund has many features similar to Fidelity Growth and Income Portfolio, including its investment objective. Despite this, the new fund will not be identical to Fidelity Growth and Income Portfolio; it will be managed independently.

Fund Manager:
Louis Salemy

Objectives:
Seeks high total return through a combination of current income and capital appreciation by investing mainly in common stocks.

Strategy:
Fidelity Growth and Income II will attempt to reach its objective by investing a majority of its assets in common stocks, and the manager will focus on equity securities that pay dividends and show potential for capital appreciation.

Fees:
There is neither an upfront load or redemption fee on this fund.

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