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THE ONE GROUP-REGISTERED TRADEMARK-
THE ONE GROUP VALUE GROWTH FUND
THE ONE GROUP LOUISIANA MUNICIPAL BOND FUND
THE ONE GROUP GULF SOUTH GROWTH FUND
Supplement dated February 20, 1996 to
Prospectus dated February 7, 1996
EFFECTIVE MARCH 1, 1996, PROSPECTUSES FOR THE ABOVE FUNDS WILL BE REVISED AS
FOLLOWS:
In the second paragraph under the heading SALES CHARGE, the fifth sentence is
revised to read as follows: "If such shares are redeemed prior to the first
anniversary of purchase, the Shareholder will be assessed a sales charge on the
initial purchase in the amount of the additional compensation paid by the
Distributor."
The EXPENSE SUMMARY under the heading ABOUT THE FUND is amended by adding the
following footnote after the caption "Maximum Contingent Deferred Sales Charge
(as a percentage of purchase price or redemption proceeds, as applicable)":
"A person who purchases $1 million or more of Class A shares and is not
assessed a sales charge at the time of purchase, will be assessed a sales
charge equivalent to 1% of the purchase price if such purchaser redeems any
or all of the Class A shares prior to the first anniversary of purchase."
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS
FOR FUTURE REFERENCE
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