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Rule 497(e) & (g)
File Nos: 2-85378
811-3462
SUPPLEMENT TO PROSPECTUS
DATED JULY 5, 1996
The accompanying Prospectus of The Flex-funds (the "Trust") describes the five
separate series of the Trust. One of the series of the Trust is The U.S.
Government Bond Fund, all of whose investable assets are invested in The Bond
Portfolio.
G. Robert Kincheloe has been replaced by Joseph A. Zarr as the
portfolio manager primarily responsible for the day to day management of The
Bond Portfolio. Mr. Zarr was the portfolio manager of the Short-Term Global
Portfolio from May of 1992 until May of 1996. Mr. Zarr is also a portfolio
manager for R. Meeder & Associates, Inc. (the "Manager"), the investment adviser
to the corresponding Portfolios of The Flex-funds. He has been associated with
the Manager since 1991. Mr. Zarr has been a licensed stockbroker since 1978.
