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RSI RETIREMENT TRUST
Supplement dated February 27, 1997
to Prospectus dated January 28, 1997
The following is added as the first paragraph on page 50:
"The Putnam Advisory Company, Inc. ('Putnam'), has resigned as sub-investment
adviser to the Emerging Growth Equity Fund, effective as of the close of
business on March 31, 1997. Retirement System Investors Inc., investment manager
for the Investment Fund, has commenced a search for a replacement sub-investment
adviser and expects to make a recommendation to the RSI Retirement Trust Board
of Directors at a meeting to be held on March 27, 1997. It is expected that the
replacement sub-investment adviser will be submitted for Unitholder approval at
the Trust Annual Meeting of Unitholders, to be held during June or July 1997."
