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FIDELITY'S SPARTAN FUNDS ADD NEW SHAREHOLDER SERVICES AND WAIVE FEES

 BOSTON, Dec. 29 /PRNewswire/ -- Fidelity Investments, a leading low- cost provider of mutual funds, today announced that beginning Jan. 1, 1993 it will offer several new automatic shareholder services for its popular Spartan mutual funds and waive transaction fees for some Spartan shareholders.
 "Since 1988, Fidelity has offered the Spartan group of money market and bond funds, designed to keep expenses low so that yields will be as high as possible," said Roger T. Servison, president of Fidelity's retail marketing arm. "Since then, the Spartan Funds have built an impressive history of offering the potential for higher yields through reduced fund expenses. Today we're continuing to build on that success by offering new enhancements, giving investors more of what they've come to expect from Spartan -- more service and better performance at a lower cost."
 In response to investors' desire to establish a regular and disciplined savings plan, Fidelity has added a full range of no-fee automated services. Money Line allows investors to transfer money from a bank account to a Spartan account by telephone. Automatic Account Builder lets investors use Money Line to invest on a regular schedule. Direct Dividends allow investors to automatically direct distributions from one Fidelity fund into another Fidelity fund.
 Also in response to customer demand, checkwriting will be added to many of Spartan bond funds.
 Servison pointed out that the news service would not affect the Spartan funds' overall operating expenses. "These automated services are efficient and economical way for our customers and Fidelity to do business," he said.
 Fidelity also announced that for Spartan mutual fund accounts with balances over $50,000 Fidelity transaction fees will be waived. These include fees for wire transfers, exchange redemptions, and non- retirement account closeouts.
 Fidelity currently manages nearly $20 billion in 27 Spartan taxable and tax-free money market and bond funds. With over $188 billion in assets under management, Fidelity is the nation's largest privately held mutual fund and discount brokerage company in the U.S.
 -0- 12/29/92
 /CONTACT: Fidelity Public Relations, 617-570-5970/


CO: Fidelity ST: Massachusetts IN: FIN SU:

TM -- NE002 -- 0284 12/29/92 10:32 EST
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Publication:PR Newswire
Date:Dec 29, 1992
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