RESERVE INSTITUTIONAL TRUST
497, 1998-04-15
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<PAGE>   1
 
                        THE RESERVE INSTITUTIONAL TRUST
      SUPPLEMENT DATED APRIL 14, 1998, TO PROSPECTUS DATED MARCH 16, 1998
 
Effective March 16, 1998, Class C shares were renamed Treasurer's Trust.
 
Resrv Partners, Inc.
Distributor, 04/98


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