VANGUARD INDEX TRUST
PROSPECTUS SUPPLEMENT
JANUARY 4, 1995
Effective January 1, 1995, the 1% portfolio transaction fee deducted
from purchases of Vanguard Index Trust Extended Market Portfolio will be
reduced to 0.5%. All other Vanguard Index Trust portfolio transaction
fees--1% for the Small Capitalization Stock Portfolio and 0.25% for the
Total Stock Market Portfolio--will remain unchanged. Portfolio transaction
fees are paid to the Portfolios to offset transaction costs of buying
securities of small- and medium-sized companies.