August 1, 1995

                               SUPPLEMENT TO THE
                                 PROSPECTUS OF:


                             Pioneer Growth Shares
                              dated April 28, 1995


                             HOW TO BUY FUND SHARES
                                 Class A Shares


From August 1, 1995 through  September  30,  1995,  the dealer  concession  will
consist of the entire sales  charge.  The period  during  which this  additional
concession  is paid to dealers  may be  extended  for any period up to 2 months.
Broker-dealers  receiving  90% or more of the sales  charge  may be deemed to be
underwriters under the federal securities laws.







                                                                      0795-2681
                                            (c) Pioneer Funds Distributor, Inc.



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