FUND FOR TAX FREE INVESTORS INC
497, 1995-12-08
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						       December 8, 1995
	   

VIA EDGAR TRANSMISSION

Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C.  20549

Re:  Fund for Tax-Free Investors, Inc.
	File Nos. 2-83299 and 811-3720

Dear Sir or Madam:

Pursuant to Rule 497(e) under the Securities Act of 1933, as amended, enclosed 
for filing on behalf of the Fund for Tax-Free Investors, Inc. (the "Fund") 
please find a copy of the Prospectus Supplement, dated December 8, 1995, 
which Prospectus Supplement will be affixed to the cover page of the Prospectus 
for the Fund for Tax-Free Investors Virginia and Maryland Portfolios, each a 
series of the Fund (the "Portfolios"), that are distributed to shareholders of, 
or potential investors in, the Portfolios.

If you should have any questions regarding the foregoing, please contact the 
undersigned at (301) 951-6955.

					    Very truly yours,



					    Stephenie E. Adams
	     
	     Enclosure:
  As Stated

cc:  James Bernstein, Esq.






FUND FOR TAX-FREE INVESTORS, INC.
Rushmore Maryland Tax-Free Portfolio
Rushmore Virginia Tax-Free Portfolio

Supplement dated December 8, 1995 to Prospectus dated April 28, 1995

The shares offered by this Prospectus are not deposits or obligations of any 
bank, are not endorsed or guaranteed by any bank, and are not insured by the 
Federal Deposit Insurance Corporation, the Federal Reserve Board, or any 
other governmental agency.

Rushmore Trust and Savings, FSB (the "Trust"), which provides transfer agency, 
dividend-disbursing, and custodian services to the Portfolios, is a majority 
owned subsidiary of Money Management Associates, adviser to the Portfolios.  

For additional information concerning the Trust, please refer to page 17 of 
the Prospectus.




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