SUPPLEMENT TO THE PROSPECTUS
of
KEYSTONE HIGH INCOME BOND FUND (B-4)
(the "Fund")
The "FUND OBJECTIVE AND POLICIES - Investments and Investment Policies"
section of the Fund's prospectus is hereby supplemented as follows:
o The following paragraph is inserted immediately after the second full
paragraph of the section:
"While growth of capital is not a Fund objective, the Fund may
purchase securities that offer the possibility of capital appreciation
in addition to income, provided the acquisition of such a security does
not conflict with the Fund's objective of generous income."
o The language ", as a class, sell at discounts from par value and" is
deleted from the first full paragraph of the section.
The paragraph comprising the "FUND MANAGEMENT AND EXPENSES - Portfolio
Manager" section of the Fund's prospectus is hereby deleted and replaced in its
entirety by the following paragraph:
"Richard M. Cryan has been the Fund's portfolio manager since
January, 1996. Mr. Cryan is a Keystone Senior Vice President and has
more than 14 years of experience in fixed income investing."
July 3, 1996
