-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Gdw5P1hQWOYi0m//Dx+TNr2DRqV0tIvM+0nLdkvprKJm/2knBgBiS9Sy/diUb78j 57OZoH5iVpBmFbpAlvB7IQ== 0000205323-08-000017.txt : 20080513 0000205323-08-000017.hdr.sgml : 20080513 20080513143948 ACCESSION NUMBER: 0000205323-08-000017 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080513 DATE AS OF CHANGE: 20080513 EFFECTIVENESS DATE: 20080513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Variable Insurance Products Fund V CENTRAL INDEX KEY: 0000823535 IRS NUMBER: 000000000 FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-17704 FILM NUMBER: 08827069 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE ST CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 2142816361 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE ST STREET 2: MAILZONE F7A CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY BOSTON STREET TRUST DATE OF NAME CHANGE: 19951101 FORMER COMPANY: FORMER CONFORMED NAME: SPARTAN U S TREASURY MONEY MARKET FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY U S TREASURY MONEY MARKET FUND L P DATE OF NAME CHANGE: 19900828

0000823535 S000017648 Money Market Portfolio

C000048773 Initial Class

0000823535 S000017659 Asset Manager Portfolio

C000048799 Initial Class

0000823535 S000017666 Strategic Income Portfolio

C000048809 Initial Class

0000823535 S000017667 Asset Manager Growth Portfolio

C000048816 Initial Class

0000823535 S000017668 Investment Grade Bond Portfolio

C000048817 Initial Class

C000048819 Service Class

C000048820 Service Class 2

497 1 main.htm

Supplement to the
Fidelity^® Variable Insurance Products
Initial Class
Asset Manager^SM Portfolio
Asset Manager: Growth^® Portfolio
Investment Grade Bond Portfolio
Money Market Portfolio
Strategic Income Portfolio
Prospectus
April 30, 2008

The following information replaces similar information found under the "Fee Table" heading in the "Fund Summary" section on page 9.

	Initial Class	Effective Date
VIP Asset Manager	0.80%	2/1/05
VIP Asset Manager: Growth	0.85%	2/1/05
VIP Investment Grade Bond	0.45%	4/1/08
VIP Money Market	0.40%	2/1/05
VIP Strategic Income	0.75%	2/1/05

These arrangements may be discontinued by FMR at any time.

VINC-08-01 May 13, 2008
1.868337.100

Supplement to the
Fidelity^® Variable Insurance Products
Initial Class, Service Class, and
Service Class 2
Investment Grade Bond Portfolio
April 30, 2008
Prospectus

The following information replaces similar information found under the "Fee Table" heading in the "Fund Summary" section on page 4.

Annual operating expenses (paid from class assets)

	Initial Class	Service Class	Service Class 2
Management fee	0.32%	0.32%	0.32%
Distribution and/or Service (12b-1) fees	None	0.10%	0.25%
Other expenses	0.11%	0.11%	0.11%
Total annual class operating expenses^A	0.43%	0.53%	0.68%

^AFMR has voluntarily agreed to reimburse Initial Class, Service Class, and Service Class 2 of the fund to the extent that total operating expenses (excluding interest, taxes, certain securities lending costs, brokerage commissions, extraordinary expenses, and acquired fund fees and expenses, if any), as a percentage of their respective average net assets, exceed the following rates:

	Initial Class	Effective Date	Service Class	Effective Date	Service Class 2	Effective Date
VIP Investment Grade Bond	0.45%	4/1/08	0.55%	4/1/08	0.70%	4/1/08

These arrangements may be discontinued by FMR at any time.

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