FIRST AMERICAN FUNDS, INC.
PRIME OBLIGATIONS FUND
RETAIL CLASSES
Supplement dated January 8, 1998
To Prospectus dated January 31, 1997
Under the heading "Through a Financial Institution" on page 13 of the
prospectus, the third sentence has been deleted and replaced to read as follows:
Purchase orders must be received by the financial institution by the
time specified by the institution to be assured same day processing,
and purchase orders must be transmitted to and received by the Fund by
2:00 p.m. Central time in order for shares to be purchased at that
day's price.
Under the heading "By Wire" on page 14 of the prospectus, the first
sentence has been deleted and replaced to read as follows:
To purchase shares of the Fund by wire, call (800) 637-2548 before 2:00
p.m. Central time to place an order.
Under the same heading, the third sentence has been deleted and
replaced to read as follows:
If the Custodian does not receive the wire by 2:00 p.m. Central time,
the order will be executed the next business day.
Under the heading "Dividends and Distributions" on page 17 of the
prospectus, the third sentence has been deleted and replaced to read as follows:
Shares purchased through the Fund before 2:00 p.m. Central time earn
dividends that day.
Under the heading "Exchange Privilege" on page 18 of the prospectus,
the fifth paragraph, second sentence has been deleted and replaced to read as
follows:
Telephone instructions must be received by the Transfer Agent before
2:00 p.m. Central time, or by a shareholder's shareholder servicing
agent or financial institution by the time specified by it, in order
for shares to be exchanged the same day.
Under the heading "By Telephone" on page 19 of the prospectus, the
first paragraph, third sentence has been deleted and replaced to read as
follows:
Redemption requests must be received by the financial institution by
the time specified by the institution to be assured same day processing
and redemption requests must be transmitted to and received by the Fund
by 2:00 p.m. Central time for same day processing.
Under the same heading, the fifth sentence has been deleted and
replaced to read as follows:
Redemptions processed by 2:00 p.m. Central time will not receive that
day's dividend.
<PAGE>
FIRST AMERICAN FUNDS, INC.
PRIME OBLIGATIONS FUND
TREASURY OBLIGATIONS FUND
GOVERNMENT OBLIGATIONS FUND
INSTITUTIONAL CLASS
Supplement dated January 8, 1998
To Prospectus dated January 31, 1997
Under the heading "Share Purchases and Redemptions" on page 13 of the
prospectus, the first paragraph, fifth sentence has been deleted and replaced to
read as follows:
Purchase orders must be received by the financial institution by the
time specified by the institution to be assured same day processing,
and purchase orders must be transmitted to and received by the Fund by
2:00 p.m. Central time in order for shares to be purchased at that
day's price.
Under the same heading on page 14 of the prospectus, in the fourth
paragraph, the first sentence has been deleted and replaced to read as follows:
Redemption orders may be made any time before 2:00 p.m. Central time,
if redeeming directly through the Fund, or by the time specified by the
financial institution if redeeming through a financial institution, in
order to receive that day's redemption price.
Under the heading "Dividends" on page 15 of the prospectus, the second
sentence has been deleted and replaced to read as follows:
Shares purchased through a Fund by wire before 2:00 p.m. Central time
begin earning dividends that day.
<PAGE>
FIRST AMERICAN FUNDS, INC.
PRIME OBLIGATIONS FUND
TREASURY OBLIGATIONS FUND
GOVERNMENT OBLIGATIONS FUND
CORPORATE TRUST CLASS
Supplement dated January 8, 1998
To Prospectus dated January 31, 1997
Under the heading "Share Purchases and Redemptions" on page 13 of the
prospectus, the first paragraph, fifth sentence has been deleted and replaced to
read as follows:
Purchase orders must be received by the financial institution by the
time specified by the institution to be assured same day processing,
and purchase orders must be transmitted to and received by the Fund by
2:00 p.m. Central time in order for shares to be purchased at that
day's price.
Under the same heading on page 14 of the prospectus, in the fourth
paragraph, the first sentence has been deleted and replaced to read as follows:
Redemption orders may be made any time before 2:00 p.m. Central time,
if redeeming directly though the Fund, or by the time specified by the
financial institution if redeeming through a financial institution, in
order to receive that day's redemption price.
Under the heading "Dividends" on page 15 of the prospectus, the second
sentence has been deleted and replaced to read as follows:
Shares purchased through a Fund by wire before 2:00 p.m. Central time
begin earning dividends that day.
<PAGE>
FIRST AMERICAN FUNDS, INC.
TAX FREE OBLIGATIONS FUND
TREASURY OBLIGATIONS FUND
RETAIL CLASSES
Supplement dated January 8, 1998
To Prospectus dated October 8, 1997
as supplemented on November 3, 1997 and November 24, 1997
Under the heading "Through a Financial Institution" on page 11 of the
prospectus, the first paragraph, third sentence has been deleted and replaced to
read as follows:
Purchase orders must be received by the financial institution by the
time specified by the institution to be assured same day processing,
and purchase orders must be transmitted to and received by Tax Free
Obligations Fund by 11:30 a.m. Central time and Treasury Obligations
Fund by 2:00 p.m. Central time in order for shares to be purchased at
that day's price.
Under the heading "By Wire" on page 12 of the prospectus, the first
sentence has been deleted and replaced to read as follows:
To purchase shares of Tax Free Obligations Fund by wire, call (800)
637-2548 before 11:30 a.m. Central time to place an order. To purchase
shares of Treasury Obligations Fund by wire, call (800) 637-2548 before
2:00 p.m. Central time to place an order.
Under the same heading, the third sentence has been deleted and
replaced to read as follows:
If the Custodian does not receive the wire by 11:30 a.m. Central time
for Tax Free Obligations Fund and by 2:00 p.m. Central time for
Treasury Obligations Fund, the order will be executed the next business
day.
Under the heading "Dividends and Distributions" on page 13 of the
prospectus, the third sentence has been deleted and replaced to read as follows:
Shares purchased through Tax Free Obligations Fund before 11:30 a.m.
Central time and Treasury Obligations Fund before 2:00 p.m. Central
time earn dividends that day.
Under the heading "Exchange Privilege" on page 14 of the prospectus,
the fifth paragraph, second sentence has been deleted and replaced to read as
follows:
Telephone instructions must be received by the Transfer Agent before
11:30 a.m. Central time for Tax Free Obligations Fund and before 2:00
p.m. Central time for Treasury Obligations Fund, or by a shareholder's
shareholder servicing agent or financial institution by the time
specified by it, in order for shares to be exchanged the same day.
Under the heading "By Telephone" on page 15 of the prospectus, the
first paragraph, third sentence has been deleted and replaced to read as
follows:
Redemption requests must be received by the financial institution by
the time specified by the institution to be assured same day processing
and redemption requests must be transmitted to and received by Tax Free
Obligations Fund by 11:30 a.m. Central time and Treasury Obligations
Fund by 2:00 p.m. Central time for same day processing.
Under the same heading, the first paragraph, fifth sentence has been
deleted and replaced to read as follows:
Redemptions for Tax Free Obligations Fund processed by 11:30 a.m.
Central time and for Treasury Obligations Fund processed by 2:00 p.m.
Central time will not receive that day's dividend.
<PAGE>
FIRST AMERICAN FUNDS, INC.
TAX FREE OBLIGATIONS FUND
INSTITUTIONAL CLASS
Supplement dated January 8, 1998
To Prospectus dated October 8, 1997
as supplemented on November 3, 1997 and November 24, 1997
Under the heading "Share Purchases and Redemptions" on page 11 of the
prospectus, the first paragraph, fifth sentence has been deleted and replaced to
read as follows:
Purchase orders must be received by the financial institution by the
time specified by the institution to be assured same day processing,
and purchase orders must be transmitted to and received by the Fund by
11:30 a.m. Central time in order for shares to be purchased at that
day's price.
Under the same heading, in the fourth paragraph, the first sentence has
been deleted and replaced to read as follows:
Redemption orders may be made any time before 11:30 a.m. Central time,
if redeeming directly through the Fund, or by the time specified by the
financial institution if redeeming through a financial institution, in
order to receive that day's redemption price.
Under the heading "Dividends" on page 12 of the prospectus, the second
sentence has been deleted and replaced to read as follows:
Shares purchased through a Fund by wire before 11:30 a.m. Central time
begin earning dividends that day.
<PAGE>
FIRST AMERICAN FUNDS, INC.
TAX FREE OBLIGATIONS FUND
CORPORATE TRUST CLASS
Supplement dated January 8, 1998
To Prospectus dated October 8, 1997
as supplemented on November 3, 1997
Under the heading "Share Purchases and Redemptions" on page 11 of the
prospectus, the first paragraph, fifth sentence has been deleted and replaced to
read as follows:
Purchase orders must be received by the financial institution by the
time specified by the institution to be assured same day processing,
and purchase orders must be transmitted to and received by the Fund by
11:30 a.m. Central time in order for shares to be purchased at that
day's price.
Under the same heading, in the fourth paragraph, the first sentence has
been deleted and replaced to read as follows:
Redemption orders may be made any time before 11:30 a.m. Central time,
if redeeming directly through the Fund, or by the time specified by the
financial institution if redeeming through a financial institution, in
order to receive that day's redemption price.
Under the heading "Dividends" on page 12 of the prospectus, the second
sentence has been deleted and replaced to read as follows:
Shares purchased through a Fund by wire before 11:30 a.m. Central time
begin earning dividends that day.
