TAX-FREE INSTRUMENTS TRUST
Investment Shares
SUPPLEMENT TO PROSPECTUS DATED MAY 31, 1995
THE FOLLOWING CHANGES WILL BE EFFECTIVE JANUARY 1, 1996.
1. On page 1 of the prospectus, please add the following as the last sentence
to the paragraph following footnote (4):
"Shareholders who do not maintain an average monthly account balance
of $5,000 will be charged a monthly fee (this does not apply to
certain retirement accounts)."
2. Under the section entitled "Accounts with Low Balances" on page 16 of the
prospectus, please delete all information and replace it with the
following:
"Due to the high cost of maintaining accounts with low balances,
there is an average monthly (calculated on a 30-day basis) account
balance policy. Shareholders must maintain a $5,000 average monthly
account balance.
Shareholders who do not maintain an average monthly account balance of
$5,000, in any given 30-day period, will be charged a $3.00 fee for
that period. A shareholder's checkwriting privilege may be
discontinued at any time.
This policy does not currently apply to IRAs, Keoghs, other retirement
accounts or accounts owned by associates of Edward D. Jones & Co.,
L.P. These types of accounts may be subject to the policy in the
future."
November 28, 1995
PA
TAX-FREE INSTRUMENTS TRUST
Investment Shares
SUPPLEMENT TO THE COMBINED STATEMENT OF ADDITIONAL INFORMATION DATED MAY 31,
1995
THE FOLLOWING CHANGE IS EFFECTIVE JANUARY 1, 1996.
The following new section entitled "Accounts with Low Balances (Investment
Shares)" should be added following the section entitled "Brokerage Transactions"
on page 4 of the Statement of Additional Information.
"ACCOUNTS WITH LOW BALANCES (INVESTMENT SHARES)
The average monthly account balance policy, whereby shareholders
maintain a $5,000 average monthly account balance in order to avoid
the $3.00 monthly fee, is not applicable to Liberty Life Members;
shareholders who have purchased shares through Aetna Insurance Company
of America and its affiliates or the Lutheran Brotherhood; and
employees of Federated Investors."
November 28, 1995
FEDERATED SECURITIES CORP.
Distributor
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INVESTORS
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AITTSBURGH,yPAf 1EDERATED9
CNVESTORS924101
G01385-02 (11/95)rs Tower
PITTSBURGH, PA 15222-3779
Cusip 876924101
