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The One Group-Registered Trademark-
The One Group Intermediate Bond Fund
The One Group Government Bond Fund
The One Group Income Bond Fund
The One Group Kentucky Municipal Bond Fund
The One Group Ohio Municipal Bond Fund
The One Group Municipal Income Fund
The One Group Intermediate Tax-Free Bond Fund
The One Group Growth Opportunities Fund
The One Group Asset Allocation Fund
The One Group Equity Index Fund
The One Group Disciplined Value Fund
The One Group Large Company Growth Fund
The One Group Income Equity Fund
The One Group International Equity Index Fund
The One Group Large Company Value Fund
Supplement dated February 7, 1996 to
Prospectus dated November 1, 1995
The table under the heading SALES CHARGE in the section of the prospectus
entitled HOW TO DO BUSINESS WITH THE ONE GROUP, is replaced in its entirety with
the following table:
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<CAPTION>
Sales Charge as Appropriate
Sales Charge as a Percentage of Commission as a Percentage
Amount of Purchase Percentage of Offering Price Net Amount Invested of Offering Price
------------------ ---------------------------- ------------------- -----------------
<S> <C> <C> <C>
less than $100,000 4.50% 4.71% 4.05%
$100,000 but less
than $250,000 3.50% 3.63% 3.05%
$250,000 but less
than $500,000 2.50% 2.56% 2.05%
$500,000 but less
than $1,000,000 2.00% 2.04% 1.60%
1,000,000 or more 0.00% 0.00% 0.00%
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In the second paragraph under the heading SALES CHARGE, the fourth sentence is
revised to read as follows: "In addition, the Distributor will, from time to
time and at its own expense, provide promotional incentives to financial
institutions and intermediaries, whose registered representatives have sold or
are expected to sell significant amounts of the shares of the Fund, in the form
of payment for travel expenses, including lodging, incurred in connection with
trips taken by qualifying registered representatives to places within or outside
the United States, and additional compensation in an amount up to 1.00% of the
offering price of Class A shares of the Fund for sales of $1 million to $5
million, and 0.50% for sales over $5 million."
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS
FOR FUTURE REFERENCE