<PAGE> 1
MUNICIPAL FUND FOR CALIFORNIA
INVESTORS, INC.
(the "Company")
California Money Fund
Supplement dated April 3, 1998
to Prospectus dated May 31, 1997
(1) PNC Institutional Management Corporation ("PIMC"), the Company's investment
adviser, has changed its name to BlackRock Institutional Management Corporation
("BIMC").
(2) PNC Bank, as sub-adviser of the Company, provided research, credit analysis
and recommendations with respect to the Company's investments, and supplied
certain computer facilities, personnel and other services. The facilities,
personnel, services and related expenses have been transferred to BIMC; BIMC has
assumed PNC Bank's responsibilities under the sub-advisory agreement; and BIMC's
obligation to pay a portion of the sub-advisory fee to PNC Bank has been
terminated.
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MUNICIPAL FUND FOR CALIFORNIA
INVESTORS, INC.
(the "Company")
California Money Fund (Dollar Shares) offered through
Morgan Guaranty Trust Company of New York
Supplement dated April 3, 1998
to Prospectus dated May 31, 1997
(1) PNC Institutional Management Corporation ("PIMC"), the Company's investment
adviser, has changed its name to BlackRock Institutional Management Corporation
("BIMC").
(2) PNC Bank, as sub-adviser of the Company, provided research, credit analysis
and recommendations with respect to the Company's investments, and supplied
certain computer facilities, personnel and other services. The facilities,
personnel, services and related expenses have been transferred to BIMC; BIMC has
assumed PNC Bank's responsibilities under the sub-advisory agreement; and BIMC's
obligation to pay a portion of the sub-advisory fee to PNC Bank has been
terminated.
