SUPPLEMENT TO
THE PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION OF
Keystone Quality Bond Fund (B-1)
Keystone Diversified Bond Fund (B-2)
Keystone Balanced Fund (K-1)
Keystone Strategic Growth Fund (K-2)
Keystone Growth and Income Fund (S-1)
Keystone Mid-Cap Growth Fund (S-3)
Keystone Small Company Growth Fund (S-4)
Keystone International Fund
Keystone Tax Free Fund
(each a "Fund")
The prospectus and statement of additional information for each Fund is hereby
amended to reflect that withdrawals under an Automatic Withdrawal Plan or
Systematic Income Plan (a "Plan") are limited to 1% per month of the total net
asset value of the Fund shares in the shareholder's account when a Plan is
opened. The prospectus and statement of additional information of each Fund are
further amended to reflect that no contingent deferred sales charge is imposed
on withdrawals under a Plan of up to 1% per month.
September 5, 1996
