FREEDOM INVESTMENT TRUST
497, 1996-03-18
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              John Hancock Financial Industries Fund, March 6, 1996

                  Supplement to Class A and Class B Prospectus



The sixth and seventh  paragraphs under "INVESTMENT  OBJECTIVE AND POLICIES" are
deleted and replaced with the following:

The Fund may invest in debt  securities of financial  services  companies and in
debt and equity securities of companies  outside the financial  services sector.
The Fund may  invest up to 5% of its net assets in  below-investment  grade debt
securities.


March 14, 1996

7000S-3/96



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