FILED PURSUANT TO RULE 497(e)
REGISTRATION FILE NO. 2-95546
January 17, 1995
FIRST PRAIRIE MONEY MARKET FUND
Supplement to Prospectus
Dated April 11, 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 Money Market Series as a
separate series of Prairie Funds named Money Market Fund (the
"New
Series"). Prairie Funds is a newly-formed registered investment
company. If the transaction is consummated, former Money Market
Series shareholders will receive the same number of shares of the
New Series as they owned of the Money Market Series immediately
before the transaction was consummated. These shares initially
will have the same net asset value as the shares of the Money
Market Series 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 Money Market
Series will be liquidated and its existence terminated.
Consummation of the transaction is anticipated to occur on or
about May 1, 1995.
