UNITED SERVICES FUNDS
497, 1996-12-20
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[FRONT OF POSTCARD]
                                      REITs

Searching  for a fund  that  applies  a  sophisticated  investment  strategy  to
capitalize  on  opportunities  in the real estate  market?  The U.S. Real Estate
Fund* outperforms the competition. Compare.

                       ----------------------------------
                       A $10,000 investment in The U.S.
                        Real Estate Fund is worth $14,215
                                     Today.

                       United Serv:Real Estate    $14,215
                       Fidelity Real Estate Inv   $13,700
                        Cohen & Steers Realty Shs $13,664
                       ----------------------------------

               [MOUNTAIN GRAPH PLOTTED FROM DATA IN TABLE BELOW]

<TABLE>
<CAPTION>
                                                                        Cohen &
                                   United Serv:       Fidelity Real     Steers 
                                   Real Estate        Estate Inv        Realty Shs
                                   -----------        ----------        ----------
<S>                                 <C>               <C>               <C>  
 12/30/94 ................             10000             10000             10000
 1/31/95 .................          9665.587          9601.823          9560.606
 2/28/95 .................          10043.15          9699.088          9712.121
 3/31/95 .................          9924.487          9759.878          9750.575
 4/28/95 .................          9989.212          9572.129          9597.144
 5/31/95 .................         10431.499          9969.172          9950.036
 6/30/95 .................         10614.886          10196.49         10157.924
 7/31/95 .................         10809.853         10399.172         10336.542
 8/31/95 .................         11113.136         10548.846         10546.224
 9/29/95 .................         11308.103         10745.331         10733.709
10/31/95 .................         11058.978         10407.467         10435.114
11/30/95 .................         11199.788         10439.044         10490.119
12/29/95 .................         11893.005         11112.869         11091.574
 1/31/96 .................         11948.167         11058.301          11291.35
 2/29/96 .................         11937.135         11234.848         11331.305
 3/29/96 .................         12069.524         11310.938         11339.937
 4/30/96 .................         12179.849         11297.926         11323.772
 5/31/96 .................         12411.531         11681.789         11558.168
 6/28/96 .................         12455.662         11988.508         11746.649
 7/31/96 .................         12410.244         12034.643         11787.577
 8/30/96 .................         12932.542         12594.854         12303.284
 9/30/96 .................         13307.234          12860.27         12698.349
10/31/96 .................         13659.216         13083.783         13087.665
11/29/96 .................         14215.577         13664.245         13700.633
</TABLE>


[BACK OF POSTCARD]

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

*Call (800) 873-3639 for a free prospectus containing fees and expenses.  Please
read the prospectus carefully before investing. Past performance is no guarantee
of future results.  Investment returns and principal value may fluctuate and you
may have a gain or loss when you sell  your  shares.  U. S.  stands  for  United
Services.  Average  annual  total  returns  for the U.S.  Real Estate Fund as of
11/29/96 for 1 year:  26.93%,  for 5 years:  9.58%,  since  inception  (7/2/87):
5.93%. Chart source: Micropal, 11/29/96.

For more information on the 
U.S. Real Estate Fund contact a 
Financial  Advisor Service Team (F.A.S.T.) 
member today. You can also download 
an investment kit on our web site at    
http://www.usfunds.com.    
1-800-873-3639    
email at [email protected].



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