DAVIS POLK & WARDWELL
450 LEXINGTON AVENUE
NEW YORK, NY 10017
212-450-4731
May 1, 1997
Re: The GNMA Fund Investment Accumulation Program, Inc.
File No. 2-60367
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Sirs:
Pursuant to Rule 497(j) of the Securities Act of 1933, we herewith
certify that the form of prospectus and Statement of Additional Information
that would have been filed under paragraph (b) of this Rule 497 would not
have differed from that contained in Post-Effective Amendment No. 22 to the
Registration Statement filed with you via EDGAR on April 29, 1997.
If you have any questions, please do not hesitate to contact the
undersigned at (212) 450-4731.
Very truly yours,
/s/Kenneth H. Chase
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Kenneth H. Chase
