Supplement dated June 13, 1996 to GIT Tax-Free Trust
Prospectus dated February 1, 1996
The Adviser has agreed to sell certain assets to Bankers
Finance Advisors, LLC ("BFA"), a newly created subsidiary of
Madison Investment Advisors, Inc., 6411 Mineral Point Road,
Madison, WI 53705 ("Madison"), contingent on shareholder
approval of an investment advisory contract between each
Trust portfolio and BFA. The Trustees have approved the
advisory contract between each Trust portfolio and BFA
effective as of the consummation of the sale of assets.
Shareholder approval of the contract will be subject to a
proxy solicitation of Trust shareholders for their votes at
a special meeting to be held prior to the consummation of
the sale.
Madison is a registered investment adviser with over 22
years experience and assets of approximately $2.2 billion
under management for a variety of clients, including mutual
funds. If shareholder approval is obtained and the sale is
consummated, BFA would replace the Adviser, Bankers Finance
Investment Management Corp., effective on or about July 31,
1996 in all capacities now described in the Prospectus.
Following such sale, the operations of the Trust and its
portfolios are expected to remain substantially the same.
No changes to fees or expenses are proposed.
