<PAGE>
THE ONE GROUP SERVICES COMPANY
111 Polaris Parkway, Suite B2
Columbus, Ohio 43271-0211
March 23, 1998
Filing Desk
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: One Group Mutual Funds-Registered Trademark- (the "Trust") (File
No. 2-95973 and 811-4236); on behalf of One Group-Registered
Trademark- U.S. Treasury Securities Money Market Fund, One
Group-Registered Trademark- Prime Money Market Fund, One
Group-Registered Trademark- Municipal Money Market Fund, One
Group-Registered Trademark- Ohio Municipal Money Market Fund,
One Group-Registered Trademark- Michigan Municipal Money Market
Fund, One Group-Registered Trademark- Government Money Market
Fund, One Group-Registered Trademark- Treasury Only Money
Market Fund, One Group-Registered Trademark- Cash Management
Money Market Fund, One Group-Registered Trademark- Treasury
Cash Management Money Market Fund, One Group-Registered
Trademark- Treasury Prime Cash Management Money Market Fund,
One Group-Registered Trademark- U.S. Government Cash Management
Money Market Fund, One Group-Registered Trademark- Municipal
Cash Management Money Market Fund, One Group-Registered
Trademark- Diversified Mid Cap Fund, One Group-Registered
Trademark- Small Cap Value Fund, One Group-Registered
Trademark- Market Expansion Index Fund, One Group-Registered
Trademark- Diversified International Fund, One Group-Registered
Trademark- Equity Income Fund, One Group-Registered Trademark-
Mid Cap Value Fund, One Group-Registered Trademark- Mid Cap
Growth Fund, One Group-Registered Trademark- Equity Index Fund,
One Group-Registered Trademark- Large Cap Value Fund, One
Group-Registered Trademark- Large Cap Growth Fund, One
Group-Registered Trademark- Balanced Fund, One Group-Registered
Trademark- Diversified Equity Fund, One Group-Registered
Trademark- Small Cap Growth Fund, One Group-Registered
Trademark- International Equity Index Fund, One
Group-Registered Trademark- Income Bond Fund, One
Group-Registered Trademark- Ultra Short-Term Bond Fund, One
Group-Registered Trademark- Short-Term Bond Fund, One
Group-Registered Trademark- Intermediate Bond Fund, One
Group-Registered Trademark- Government Bond Fund, One
Group-Registered Trademark- High Yield Bond Fund, One
Group-Registered Trademark- Treasury & Agency Fund, One
Group-Registered Trademark- Bond Fund, One Group-Registered
Trademark- Municipal Income Fund, One Group-Registered
Trademark- Intermediate Tax-Free Bond Fund, One
Group-Registered Trademark- Tax-Free Bond Fund, One
Group-Registered Trademark- Short-Term Municipal Bond Fund, One
Group-Registered Trademark- Ohio Municipal Bond Fund, One
Group-Registered Trademark- West Virginia Municipal Bond Fund,
One Group-Registered Trademark- Kentucky Municipal Bond Fund,
One Group-Registered Trademark- Arizona Municipal Bond Fund,
One Group-Registered Trademark- Louisiana Municipal Bond Fund,
One Group-Registered Trademark- Michigan Municipal Bond Fund,
One Group-Registered Trademark- Investor Growth Fund, One
Group-Registered Trademark- Investor Growth and Income Fund,
One Group-Registered Trademark- Investor Conservative Growth Fund,
and One Group-Registered Trademark- Investor Balanced Fund;
Post-Effective Amendment No. 48 to the Registration Statement on
Form N-1A
Dear Sir or Madam:
RULE 497(j) CERTIFICATION
Pursuant to the requirements of Rule 497(j) under the Securities Act of
1933, the Registrant certifies that the forms of prospectuses and Statement of
Additional Information that would have been filed under Rule 497(c) would not
have differed from that contained in Post-Effective Amendment No. 48 filed on
March 12, 1999, pursuant to Rule 485(b). The text of Post-Effective Amendment
no. 48 was filed electronically.
ONE GROUP MUTUAL FUNDS
Registrant
/s/ Mark S. Redman
-----------------------------
Mark S. Redman
President