Supplement Dated August 20, l996, to Statement of Additional
Information of Gradison-McDonald Established Value Fund and
Gradison-McDonald Opportunity Value Fund Dated July 29, l996.

The Gradison-McDonald Established Value Fund was named as
one of eighteen mutual funds to the Forbes Magazine, August
26, l996 issue,  Mutual Fund Honor Roll.  Selection for the
Honor Roll is based on performance, preservation of capital,
and continuity of management.



© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission