Supplement to the
Fidelity^® Capital & Income Fund
and Fidelity High
Income Fund
June 29, 2002 Prospectus

The third bullet found under the heading "Principal Investment Strategies" for Capital & Income in the "Investment Summary" section on page 3 has been removed.

The following information supplements the information found under the heading "Principal Investment Strategies" for High Income in the "Investment Summary" section on page 3.

• Managing the fund to have similar credit quality distribution to an index, which, as of June 29, 2002, was the Merrill Lynch High Yield Master II Index.

CAI/SPH-02-01	June 29, 2002
1.710962.108