GIT EQUITY TRUST
497, 1996-06-13
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Supplement dated June 13, 1996 to GIT Equity Trust 
Prospectus dated July 31, 1995

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.



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