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CONNECTICUT MUTUAL INVESTMENT ACCOUNTS, INC.
CMIA CALIFORNIA MUNICIPALS ACCOUNT
CMIA MASSACHUSETTS MUNICIPALS ACCOUNT
CMIA NEW YORK MUNICIPALS ACCOUNT
CMIA OHIO MUNICIPALS ACCOUNT
SUPPLEMENT TO Prospectus
DATED MARCH 31, 1995
1. FOR THE CALIFORNIA, MASSACHUSETTS, NEW YORK AND OHIO
ACCOUNTS: Each Portfolio has changed the phrase "Tax-Free" in its
name to "Municipals."
2. FOR THE CALIFORNIA, MASSACHUSETTS, NEW YORK AND OHIO
ACCOUNTS: The fundamental investment policy of each Account with
respect to its investments in municipal obligations has been
changed as follows:
"Under normal market conditions and as a matter of funda-
mental policy, the California Account (either directly or
indirectly through another open-end investment company with
substantially the same investment objective, policies and
restrictions) and the California Portfolio will invest at
least 80% of their respective net assets in municipal
obligations, the interest on which is exempt from regular
Federal income tax and from California taxes which each of
the California Portfolio and California Account seek to avoid
in accordance with their respective investment objectives."
"Under normal market conditions and as a matter of
fundamental policy, the Massachusetts Account (either
directly or indirectly through another open-end investment
company with substantially the same investment objective,
policies and restrictions) and the Massachusetts Portfolio
will invest at least 80% of their respective net assets in
municipal obligations, the interest on which is exempt from
regular Federal income tax and from Massachusetts taxes which
each of the Massachusetts Portfolio and Massachusetts Account
seek to avoid in accordance with their respective investment
objectives."
"Under normal market conditions and as a matter of
fundamental policy, the New York Account (either directly or
indirectly through another open-end investment company with
substantially the same investment objective, policies and
restrictions) and the New York Portfolio will invest at least
80% of their respective net assets in municipal obligations,
the interest on which is exempt from regular Federal income
tax and from New York taxes which each of the New York
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Portfolio and New York Account seek to avoid in accordance
with their respective investment objectives."
"Under normal market conditions and as a matter of
fundamental policy, the Ohio Account (either directly or
indirectly through another open-end investment company with
substantially the same investment objective, policies and
restrictions) and the Ohio Portfolio will invest at least 80%
of their respective net assets in municipal obligations, the
interest on which is exempt from regular Federal income tax
and from Ohio taxes which each of the Ohio Portfolio and Ohio
Account seek to avoid in accordance with their respective
investment objectives."
Each of the Portfolios in which the corresponding Municipal
Accounts invest their assets may invest without limit in
obligations the interest on which is a tax preference item for
purposes of the Federal alternative minimum tax.
3. FOR THE CALIFORNIA ACCOUNT ONLY: The California Account
is a non-diversified series of the Company. The California
Account may invest in certain obligations of Puerto Rico, Guam and
the U.S. Virgin Islands.
Dated: January 19, 1996
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CONNECTICUT MUTUAL INVESTMENT ACCOUNTS, INC.
CMIA CALIFORNIA MUNICIPALS ACCOUNT
CMIA MASSACHUSETTS MUNICIPALS ACCOUNT
CMIA NEW YORK MUNICIPALS ACCOUNT
CMIA OHIO MUNICIPALS ACCOUNT
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED MARCH 31, 1995
1. FOR THE CALIFORNIA, MASSACHUSETTS, NEW YORK AND OHIO
ACCOUNTS: Effective immediately, each Portfolio has change the
phrase "Tax-Free" in its name to "Municipals."
2. FOR THE CALIFORNIA, MASSACHUSETTS, NEW YORK AND OHIO
ACCOUNTS: Set forth below are revised fundamental investment
restrictions, which shareholders have approved (except as noted).
These fundamental restrictions replace the fundamental
restrictions under the caption "Investment Restrictions."
a. Purchase securities on margin (but an Account may
obtain such short-term credits as may be necessary for the
clearance of purchases and sales of securities). The deposit
or payment by an Account of initial or maintenance margin in
connection with future contracts or related options
transactions is not considered the purchase of a security on
margin;
b. Underwrite or participate in the marketing of
securities of others, except insofar as it may technically be
deemed to be an underwriter in:
(i) selling a portfolio security under
circumstances which may require the registration of the
same under the Securities Act of 1933; or
(ii) investing all or part of its investable assets
in an open-end management investment company with
substantially the same investment objective, policies
and restrictions as the Account and issuing its own
shares representing a pro rata interest in the
securities of such other investment company owned by it;
c. Make loans to any person except by (a) the
acquisition of debt instruments and making portfolio
investments, (b) entering into repurchase agreements and
(c) lending portfolio securities;
d. Borrow money or issue senior securities except as
permitted by the Investment Company Act of 1940;
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e. Purchase or sell real estate (including limited
partnership interests in real estate, but excluding readily
marketable interests in real estate investment trusts or
readily marketable securities of companies which invest or
deal in real estate or securities which are secured by real
estate) (not applicable to Massachusetts Account); and
f. Purchase or sell physical commodities or contracts
for the purchase or sale of physical commodities.
3. FOR THE CALIFORNIA, MASSACHUSETTS, NEW YORK AND OHIO
ACCOUNTS: The following investment restriction has been
redesignated as non-fundamental:
(e) Make short sales of securities or maintain a short
position, unless at all times when a short position is
open an Account owns an equal amount of such securities
or securities convertible into or exchangeable, without
payment of any further consideration, for securities of
the same issue as, and equal in amount to, the
securities sold short, and unless not more than 25% of
an Account's net assets (taken at current value) is held
as collateral for such sales at any one time. (Each
Account will make such sales only for the purpose of
deferring realization of gain or loss for federal income
tax purposes); . . . .
Dated: January 19, 1996
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