December 16, 1996
MIDWEST TRUST
Supplement to Prospectuses Dated February 1, 1996
MIDWEST STRATEGIC TRUST
Supplement to Prospectuses Dated August 1, 1996
MIDWEST GROUP TAX FREE TRUST
Supplement to Prospectuses Dated November 1, 1996
Countrywide Credit Industries, Inc. ("Countrywide"), 155 North Lake
Avenue, Pasadena, California, has entered into an agreement with Leshner
Financial, Inc. to acquire all of the outstanding stock of Leshner Financial,
Inc. Midwest Group Financial Services, Inc., which provides investment advisory
and distribution services for the Trusts, and MGF Service Corp., which provides
transfer agency, accounting and administrative services for the Trusts, are
wholly-owned subsidiaries of Leshner Financial, Inc.
Consummation of the acquisition is subject to approval by shareholders
of each fund within the Midwest Group of Funds complex. It is anticipated that
shareholders will also be asked to elect a new slate of Trustees for the Board
if the acquisition is approved.
Upon consummation of the acquisition, Leshner Financial, Inc. will be
operated as a wholly-owned subsidiary of Countrywide. The investment objectives
and policies and investment management of the Funds will not be affected by the
change in ownership of Leshner Financial, Inc.
Countrywide is a New York Stock Exchange listed company principally
engaged in residential mortgage lending. Countrywide is the nation's largest
independent residential mortgage lender and servicer. Founded in 1969,
Countrywide originates, purchases, sells and services loans for single-family
residences. Countrywide has more than 5,500 employees and 350 offices across the
nation.
