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SUPPLEMENT TO THE PROSPECTUS
AND STATEMENT OF
ADDITIONAL INFORMATION OF
KEYSTONE BALANCED FUND (K-1)
The prospectus and statement of additional information of the above-
named fund (the "Fund") are hereby supplemented as follows:
Beginning September 1, 1995 through December 31, 1995 ("Offering Period"),
Keystone Investment Distributors Company will reallow to brokers or others a
commission equal to 5% of the price paid for each Fund share sold as described
in the Fund's prospectus.
Such payments will be made to those dealers and others selling such shares
who pay to their registered representatives making such sales a portion of the
additional amount payable under this special dealer offer, determined in
accordance with their regular payment arrangements with such persons for sales
not made under a special dealer offer.
August 29, 1995
