FIRST INVESTORS NEW YORK INSURED TAX FREE FUND INC, 497, 1998-05-21

FIRST INVESTORS NEW YORK INSURED TAX FREE FUND INC
497, 1998-05-21

Previous: IEA MARINE CONTAINER INCOME FUND V-B, 8-K, 1998-05-21

Next: COAST DISTRIBUTION SYSTEM INC, S-8 POS, 1998-05-21



              FIRST INVESTORS NEW YORK INSURED TAX FREE FUND, INC.
                FIRST INVESTORS MULTI-STATE INSURED TAX FREE FUND
                          Supplement dated May 22, 1998
                       to Prospectus dated April 30, 1998


1. The name of  Multi-State  Insured on the back cover  should  read as follows:
First Investors Multi-State Insured Tax Free Fund.

2. Item No. (7) under "How to Buy  Shares-Waivers  of Class A Sales  Charges" on
page 30 should read as follows:

(7) any purchase  made during the period  November 15, 1998 to February 28, 1999
with the proceeds  from a redemption  made after  November 14, 1998 from the 3rd
Fund of First Investors U.S. Government Plus Fund;

3. The following  sentence replaces the last two sentences of the last paragraph
under "Dividends and Other Distributions" on page 40:

Any subsequent  dividend or other  distribution will be reinvested in additional
shares of the distributing  class at net asset value until the Fund receives new
instructions.

FIMSE598