SUPPLEMENT TO PROSPECTUS DATED NOVEMBER 25, 1998
Effective July 1, 1999, the Investment Advisory and Administration
Agreement (the "Advisory Agreement") between Prasad Series Trust and Mutual
Funds Leader, Inc. ("MFL") has been amended as follows:
(1) The fee payable to MFL has been increased from the annual rate of
one percent (1%) of the average value of the Fund's daily net assets to the
annual rate of one and one-half percent (1.5%) of the average value of the
Fund's daily net assets.
(2) MFL will pay all of the operating expenses of the Fund with the
exception of brokerage, taxes, interest and extraordinary expenses (including,
without limitation, litigation and indemnification costs and obligations).
The date of this Supplement is July 1, 1999.
