FILED PURSUANT TO RULE 497(e)
REGISTRATION FILE NO. 2-95548
January 17, 1995
FIRST PRAIRIE MUNICIPAL MONEY MARKET FUND
Supplement to Prospectus
Dated April 29, 1994
The following information supplements and supersedes
any contrary information contained in the Prospectus.
The Fund's investment adviser and administrator is First
Chicago Investment Management Company ("FCIMCO"), a newly formed
registered, investment adviser and a wholly-owned subsidiary of
The
First National Bank of Chicago. FCIMCO employs substantially all
the investment personnel who previously provided advisory
services
to the Fund.
The Fund has agreed to pay FCIMCO a monthly advisory fee
at the annual rate of .40% of the value of the Fund's average
daily
net assets, and a monthly administration fee at the annual rate
of
.15% of the value of the Fund's average daily net assets. FCIMCO
has engaged Concord Holding Corporation (the "Sub-Administrator")
to assist it in providing certain administrative services for the
Fund. FCIMCO, from its own funds, will pay the Sub-Administrator
for the Sub-Administrator's services.
The Fund's distributor is Concord Financial Group, Inc.
Concord Financial Group, Inc., located at 125 West 55th Street,
New
York, New York 10019, is a wholly-owned subsidiary of the Sub-
Administrator and currently distributes the shares of other
investment companies with over $21 billion in assets.
The Fund's Board has approved, subject to shareholder
approval, the reorganization of the Fund as a separate series of
Prairie Funds named Municipal Money Market Fund (the "New
Series").
Prairie Funds is a newly-formed registered investment company.
If
the transaction is consummated, former Fund shareholders will
receive the same number of shares of the New Series as they owned
of the Fund immediately before the transaction was consummated.
These shares initially will have the same net asset value as the
shares of the Fund owned before the transaction was consummated.
The transaction is expected to be tax free for Federal income tax
purposes. If the transaction is consummated, the Fund will be
liquidated and its existence terminated. Consummation of the
transaction is anticipated to occur on or about May 1, 1995.
