MAP-EQUITY FUND
Supplement Dated October 9, 1996
To the Prospectus Dated May 1, 1996
The following supplements information relating to fees,
charges, redemptions, and broker compensation described in the
above-referenced Prospectus.
The Board of Directors of MAP-Equity Fund (the "Fund") has
authorized First Priority Investment Corporation ("First
Priority"), the Distributor of the Fund, to offer for a limited
period shares of the Fund ("Promotional Shares") at Net Asset
Value ("NAV") (that is, with no sales load deducted when shares
are purchased). Promotional Shares will, however, be subject to
a Contingent Deferred Sales Load ("CDSL") of 1% if redeemed
within one year of purchase. Redemptions will be deemed to be
taken in the following order: first from appreciation, dividends,
capital gains, and any other shares not subject to the CDSL, then
from Promotional Shares on a First-In/First Out ("FIFO") basis.
The CDSL will also apply to Promotional Shares exchanged within
one year of purchase into MAP-Government Fund, Inc., although the
CDSL will not be deducted until the shares in MAP-Government Fund
are redeemed. The CDSL will not apply to shares purchased under
existing NAV sales programs, by reinvestment of any dividends or
capital gains, or to any amount of appreciation in the NAV.
Promotional Shares qualify under the Accumulation Privilege
and Letter of Intent programs. The CDSL is waived for
distributions from an individual retirement plan or 403(b) plan
account due to death or disability of the Shareholder, or upon
periodic distributions based on life expectancy; tax-free returns
of excess contributions from employee benefit plans;
distributions from employee benefit plans, or those due to plan
termination or plan transfer; redemptions through certain
automatic withdrawals not exceeding 10% of the amount that would
otherwise be subject to the CDSL; redemptions initiated by the
Fund due to a Shareholder's account falling below the minimum
specified account size; and redemptions following the death of
the Shareholder or the beneficial owner.
This offer will be in effect from October 15, 1996 until
December 31, 1996, but may be extended for an additional limited
period. While this offer is in effect, First Priority will
compensate introducing brokers at the maximum rate of one percent
of purchase amounts. First Priority may also assume transaction
fees normally incurred by clients of Registered Investment
Advisers when purchasing shares at NAV.
After this offer has expired, the information in the
prospectus relating to fees, charges, redemptions, and broker
compensation will again be effective.
