VANGUARD INDEX TRUST
497, 1995-12-05
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<PAGE>   1

                              VANGUARD INDEX TRUST
                             PROSPECTUS SUPPLEMENT

                                DECEMBER 6, 1995

Effective January 1, 1996, the portfolio transaction fee of 0.25% deducted from
purchases of the Total Stock Market Portfolio of Vanguard Index Trust (the
"Fund") will be discontinued.

                                                                            TSTF


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