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SUPPLEMENT TO THE PROSPECTUSES AND
STATEMENTS OF ADDITIONAL INFORMATION OF
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<CAPTION>
<S> <C>
KEYSTONE CAPITAL PRESERVATION KEYSTONE STATE TAX FREE FUND
AND INCOME FUND KEYSTONE STATE TAX FREE FUND -- SERIES II
KEYSTONE GOVERNMENT SECURITIES FUND KEYSTONE LIQUID TRUST
KEYSTONE INTERMEDIATE TERM BOND FUND (THE "FUND(S)")
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The prospectus and statement of additional information of each Fund are
hereby supplemented as follows:
It is currently anticipated that certain changes relating to each Fund's
Class B shares will become effective on June 1, 1995. The changes would only
apply to Class B shares purchased on or after June 1, 1995.
* With certain exceptions, Keystone Investment Distributors Company will
generally reallow to broker/dealers or others commissions at a rate higher
than that which is currently paid.
* With the exception of Keystone Capital Preservation and Income Fund
("CPI"), a contingent deferred sales charge ("CDSC"), if applicable, will
be imposed on Class B shares purchased on or after June 1, 1995 at rates
ranging from a maximum of 5% of amounts redeemed during the first twelve
month period following the month of purchase to 1% of amounts redeemed
during the sixth twelve month period following the month of purchase.
* With respect to CPI, a CDSC will be imposed, if applicable, on Class B
shares purchased on or after June 1, 1995 at rates ranging from a maximum
of 3% of amounts redeemed during the first twelve month period following
the month of purchase to 1% of amounts redeemed during the fourth twelve
month period following the month of purchase.
* Class B shares purchased on or after June 1, 1995 that are outstanding for
eight years following the month of purchase will automatically convert to
Class A shares without the imposition of a front-end sales charge or
exchange fee. Class B shares purchased prior to June 1, 1995 will retain
their existing conversion or exchange rights.
May 5, 1995
AMER6-SK
