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JOHN HANCOCK TAX-EXEMPT INCOME FUND
SUPPLEMENT TO PROSPECTUS DATED MAY 1, 1995
On December 11, 1995, the Trustees of the John Hancock Tax-Exempt Income
Fund (the "Fund") voted to recommend that the shareholders approve a tax-free
reorganization of the Fund, as described below.
Under the terms of the reorganization, subject to shareholder approval at a
shareholder meeting scheduled to be held in April, 1996, the Fund would
transfer all of its assets and liabilities to John Hancock Tax-Free Bond Fund
("Tax-Free Bond Fund") in a tax-free exchange for shares of equal value of
Tax-Free Bond Fund. Further information regarding the proposed reorganization
will be contained in a proxy statement and prospectus which is scheduled to be
mailed to shareholders during March, 1996.
Effective March 6, 1996, John Hancock Tax-Exempt Income Fund will be closed
to new accounts (except for participants in existing Qualified Retirement
Plans).
December 11, 1995
2300S 12/95