SUPPLEMENT dated August 14, 1998
To Prospectuses of all
Municipal Investment Trust Fund Series
Sales Charge. The sales charge on Units of this Fund has
been reduced. The following schedule shows the charge for
most Series:
Maximum Sales Charge
--------------------
As % of As % of
Net Amount Public
Time to Maturity Invested Offering Price
- ---------------- ---------- --------------
15 Years or Longer 2.987% 2.90%
8 Years to less than 15 Years 2.828 2.75
4 Years to less than 8 Years 2.564 2.50
1 Year to less than 4 Years 1.523 1.50
6 Months to less than 1 Year 0.503 0.50
Less than 6 Months 0 0
The maximum sales charge (up-front and deferred combined) for Units of the
following Series is $30 per Unit until the final deferred sales charge
installment is deducted. This sales charge may be more or less than 2.9%
depending on the net asset value of the Units.
Monthly Payment Series 600 through 613
Multistate Series 300 through 325
Intermediate Series 300 through 315
Insured Series 300 through 312
Alternative Minimum Tax Series 100
Investment Grade Series 4 & 5
Units of these Series purchased after the deduction of the final deferred
sales charge installment will be subject to the charge schedule above.
The maximum sales charge on all Series is reduced further if you invest at
least $100,000, as follows:
Percentage
Of Maximum
Amount Invested Sales Charge
--------------- ------------
Less than 100,000 100%
$100,000-$249,999 90
$250,000-$499,999 85
$500,000-$999,999 75
$1,000,000 or More 65
Selling dealers receive 65% of the sales charge.
Revised Sponsors' Fees. The Sponsors receive annual fees to reimburse the
Sponsors for their costs of providing portfolio supervision, bookkeeping
and administrative services and for any other expenses properly chargeable
to the Fund. The fees for these services have been combined and currently
total $0.45 per $1,000 face amount a year. While these fees may exceed the
costs and expenses for this Fund, the total of these fees from all Defined
Asset Funds will not exceed the aggregate costs and expenses for all Funds
for any calendar year.
