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USAA INVESTMENT TRUST
Income Strategy Fund
Balanced Strategy Fund
Growth Strategy Fund
SUPPLEMENT DATED JANUARY 2, 1996
TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED SEPTEMBER 1, 1995
Effective January 1, 1996, M. Staser Holcomb replaced
Hansford T. Johnson as Trustee and Chairman of the Board of
Trustees and C. Dale Briscoe retired from the Board of Trustees.
The paragraph on page 11 under the caption "Trustees and Officers
of the Trust" relating to Hansford T. Johnson is replaced with
the following information:
M. Staser Holcomb 1, 2
Trustee and Chairman of the Board of Trustees
Age: 63
President, Chief Executive Officer, Director and Vice Chairman of
the Board of Directors of USAA Capital Corporation and several of
its subsidiaries and affiliates (1/96-present); Executive Vice
President, Chief Information Officer, United Services Automobile
Association (USAA) (2/94-12/95); Executive Vice President, Chief
Financial Officer, USAA and President, Director and Vice Chairman
of the Board of Directors, USAA Capital Corporation (9/91-1/94);
and Executive Vice President, Property & Casualty Operations,
USAA (1/90-8/91). Mr. Holcomb also will serve as a Trustee and
Chairman of the Board of Trustees of USAA State Tax-Free Trust
and as a Director and Chairman of the Boards of Directors of USAA
Investment Management Company (IMCO), USAA Mutual Fund, Inc.,
USAA Tax Exempt Fund, Inc., USAA Shareholder Account Services,
USAA Federal Savings Bank and USAA Real Estate Company.
Also effective January 1, 1996, Bradford W. Rich, Senior
Vice President, General Counsel and Secretary, USAA, replaced
William McCrae as a Director of USAA IMCO.
27813-0196
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USAA INVESTMENT TRUST
Growth and Tax Strategy Fund Cornerstone Strategy Fund
Emerging Markets Fund Gold Fund
International Fund World Growth Fund
GNMA Trust Treasury Money Market Trust
SUPPLEMENT DATED JANUARY 2, 1996
TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED OCTOBER 1, 1995 AS SUPPLEMENTED NOVEMBER 1, 1995
Effective January 1, 1996, M. Staser Holcomb replaced
Hansford T. Johnson as Trustee and Chairman of the Board of
Trustees and C. Dale Briscoe retired from the Board of Trustees.
The paragraph on page 15 under the caption "Trustees and Officers
of the Trust" relating to Hansford T. Johnson is replaced with
the following information:
M. Staser Holcomb 1, 2
Trustee and Chairman of the Board of Trustees
Age: 63
President, Chief Executive Officer, Director and Vice Chairman of
the Board of Directors of USAA Capital Corporation and several of
its subsidiaries and affiliates (1/96-present); Executive Vice
President, Chief Information Officer, United Services Automobile
Association (USAA) (2/94-12/95); Executive Vice President, Chief
Financial Officer, USAA and President, Director and Vice Chairman
of the Board of Directors, USAA Capital Corporation (9/91-1/94);
and Executive Vice President, Property & Casualty Operations,
USAA (1/90-8/91). Mr. Holcomb also will serve as a Trustee and
Chairman of the Board of Trustees of USAA State Tax-Free Trust
and as a Director and Chairman of the Boards of Directors of USAA
Investment Management Company (IMCO), USAA Mutual Fund, Inc.,
USAA Tax Exempt Fund, Inc., USAA Shareholder Account Services,
USAA Federal Savings Bank and USAA Real Estate Company.
Also effective January 1, 1996, Bradford W. Rich, Senior
Vice President, General Counsel and Secretary, USAA, replaced
William McCrae as a Director of USAA IMCO.
27814-0196
