UNITED SERVICES FUNDS
497, 1996-07-31
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[GRAPHIC: Watermark: "Q." BEHIND AD]

                       HOW CAN I EARN MORE FOR MY MONEY?
                  THE U.S. GOVERNMENT SECURITIES SAVINGS FUND
                                                                    ------------
[GRAPHIC:  United Services Funds Logo]                              Turn to page
                                                                     11 for more
                                                                    information.
                                                                        308-1222
                                                                    ------------
 ................................................................................
[GRAPHIC: Watermark: "Q." BEHIND AD]

       WHERE CAN I EARN A HIGHER YIELD WITH THE SAFETY OF U.S. GOVERNMENT
                                  SECURITIES?
                  THE U.S. GOVERNMENT SECURITIES SAVINGS FUND
                                                                    ------------
[GRAPHIC:  United Services Funds Logo]                              Turn to page
                                                                     11 for more
                                                                    information.
                                                                        308-1222
                                                                    ------------
 ................................................................................
[PAGE 11...GRAPHIC: Watermark: "A." BEHIND AD]

                                 EARN MORE NOW
                              The U.S. Government
                            Securities Savings Fund
- ---------------------
       5.16%
7-Day Effective Yield
- ---------------------
- ---------------------
       5.03%
 7-Day Current Yield
- ---------------------
            [CHART CREATED USING THE FIGURES IN THE FOLLOWING TABLE]
<TABLE>
<CAPTION>

                                      U.S.
                                   GOVERNMENT       AVERAGE                     AVERAGE BANK
                                   SECURITIES        MONEY        AVERAGE          MONEY
                                  SAVINGS FUND    MARKET FUND    6-MONTH CD        MARKET
                                  ------------    -----------    ----------     ------------
<S>                               <C>             <C>            <C>            <C>  
                 YIELD/RATE*      5.16%           4.77%          4.63%          2.62%

    PENALTY-FREE WITHDRAWALS      YES             YES            NO             LIMITED

FREE CHECKWRITING PRIVILEGES      YES             MAYBE          NO             LIMITED

             INVESTS 100% IN      YES             NO             NO             NO
  U.S. GOVERNMENT SECURITIES        
</TABLE>

                 * HIGHER YIELD * FREE CHECKWRITING PRIVILEGES
                  * $1,000 INITIAL INVESTMENT * $50 SUBSEQUENT
                        INVESTMENT * NO MINIMUM FOR IRAs

[GRAPHIC:  UNITED SERVICES FUNDS LOGO]
[GRAPHIC:  U.S. GLOBAL INVESTORS, INC. LOGO]

                           --------------------------
                           FOR A FREE INVESTMENT KIT
                                 CALL 308-1222
                           7900 Callaghan Road @ I-10
                           --------------------------

The U.S. Government Securities Savings Fund, like all money market funds, is:
*  not sponsored nor guaranteed by the U.S. Government
*  not a deposit of nor endorsed by any bank
*  not insured by the FDIC nor any other agency
                                   ----------
*As of 6/20/96. Sources: USA Today, IBC's Money Fund Report. Past performance is
no  guarantee  of future  results.  Money market  yields may change  daily.  CDs
generally have a fixed rate of return.  The U.S.  Government  Securities Savings
Fund is managed to maintain a stable $1 per share  value;  however,  there is no
guarantee it will be able to do so. The Advisor of the Fund has guaranteed total
fund  operating  expenses (as a percentage  of net assets) will not exceed 0.40%
until 6/30/97, or until such later date as the Advisor determines. In accordance
with  SEC   guidelines,   capital  gains  or  losses  are  excluded  from  yield
calculations. A monthly small account fee will apply if your balance falls below
the $1,000 minimum. For more information,  including charges and expenses,  call
1-800-US-FUNDS. Please read the prospectus carefully before investing. MG355


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