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AMERICAN INDEPENDENCE FUNDS TRUST
SUPPLEMENT DATED AUGUST 30, 2000
TO PROSPECTUS DATED MARCH 1, 2000
On August 29, 2000, the Board of Trustees of American Independence
Funds Trust. ("Trust ") approved on behalf of the Kansas Tax-Exempt Bond Fund
(the "Fund"), and recommended for shareholder approval, new sub-advisory
arrangements between Galliard Capital Management Inc.("Galliard") and INTRUST
Financial Services, Inc.("INTRUST"), the investment adviser to the Fund (the
("Sub-Advisory Agreement"). Galliard currently serves as Sub-Adviser for the
American Independence Short Term Bond Fund and Intermediate Bond Fund. A
description of Galliard is contained in the Prospectus. THE PROPOSED
SUB-ADVISORY RELATIONSHIP WILL NOT RESULT IN ANY CHANGE IN ADVISORY FEES
CURRENTLY PAID BY THE FUND TO INTRUST.
Shareholders of the Fund as of the record date September 15, 2000 will
receive proxy materials covering the proposals for the Sub-Advisory Agreement in
connection with the Fund's Shareholder Meeting to be held October 27, 2000.
