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VAN KAMPEN AMERICAN CAPITAL
RESERVE FUND
SUPPLEMENT DATED JUNE 1, 1996, TO THE PROSPECTUS DATED AUGUST 1, 1995
Class B Shares purchased on or after June 1, 1996 automatically will convert
to Class A Shares eight years after the end of the calendar month in which the
investor's order to purchase was accepted. The Fund's contingent deferred sales
charge schedule for Class B Shares is not effected by such conversion.
The section of the Prospectus captioned "ANNUAL FUND OPERATING EXPENSES AND
EXAMPLE" is hereby amended as follows:
The expenses for Class B Shares assuming redemption at the end of a ten year
period are $187 and the expenses for Class B Shares assuming no redemption at
the end of a ten year period are $187.
