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Next: DEFINED ASSET FUNDS MUNICIPAL INVT TR FD INSURED SERIES 15, 24F-2NT, 1997-02-19 |
<PAGE> EXCELSIOR FUNDS, INC. EXCELSIOR TAX-EXEMPT FUNDS, INC. SUPPLEMENT TO PROSPECTUSES DATED AUGUST 1, 1996 (October 1, 1996 in the case of the California Tax-Exempt Income Fund) Effective March 1, 1997, the sales load described in "How to Purchase and Redeem Shares--Public Offering Price" will be eliminated and Shares of the Funds will be offered for sale at their net asset value. The date of this Supplement is February 19, 1997.
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