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1988 Fleer Update is a 132 card update set to include players traded during the season and rookies that were not included in the Regular set. These cards are identical to the 1988 Regular issued set.

These cards are numbered with a preceding "U" (U-1 through U-132). This set was issued with team logo stickers in a specially marked box and was available only through hobby dealers. For the first time in the Update series, Fleer put the player cards in order by team.