Investment Company Administration Corporation
4455 E. Camelback Rd., Suite 261E
Phoenix, Arizona 85018
(602) 952-1100
February 5, 1999
Securities and Exchange Commission
Attn: Filing Desk, Stop 1-4
450 Fifth Street, N.W.
Washington, DC 20549
Re: Advisors Series Trust
File No. 333-17391 and 811-07959
Dear Sir or Madam:
On behalf of the above Registrant and pursuant to Rule 497(e) under the
Securities Act of 1933, I enclose for filing via EDGAR for the Howard Equity
Fund series of the Registrant, a Supplement dated February 8, 1999.
Sincerely yours,
/s/Thomas Marschel
Thomas Marschel
cc: Chris Kissack
Howard Equity Fund
Supplement dated February 8, 1999 to
Prospectus dated December 6, 1998
Prospectus: Replace the language under "You may purchase shares through an
investment dealer" with the following language:
You may buy and sell shares of the Fund through certain brokers (and their
agents) that have made arrangements with the Fund. When you place your order
with such a broker or its authorized agent, your order is treated as if you had
placed it directly with the Fund's transfer agent, and you will pay or receive
the next price calculated by the Fund. The broker (or agent) holds your shares
in an omnibus account in the broker's (or agent's) name, and the broker (or
agent) maintains your individual ownership records. The Fund may pay the broker
(or its agent) for maintaining these records as well as providing other
shareholder services. The broker (or its agent) may charge you a fee for
handling your (purchase and sale) order. The broker (or agent) is responsible
for processing your order correctly and promptly, keeping you advised regarding
the status of your individual account, confirming your transactions and ensuring
that you receive copies of the Fund's prospectus.
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