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NORTHSTAR ADVANTAGE FUNDS
Prospectus Supplement dated May 7, 1996
To Prospectus dated February 29, 1996
The Underwriter is sponsoring an incentive program for registered
representatives of Washington Square Securities, Inc. (through August 30, 1996)
in connection with the sale by their members of shares of the Funds. The
Underwriter has agreed to provide the following to its members who qualify with
respect to cumulative sales of all classes of shares of the Funds reaching
designated levels: (i) gift certificates of $25 and $50 for combined total
sales, respectively, of $10,000 and $50,000; (ii) merchandise valued at $100
for total sales of $100,000; and (iii) one or two round trip airline ticket(s)
within the continental U.S. for total sales, respectively, of $250,000 and
$400,000. Different awards of equal value or the cash equivalent of awards may
be substituted.
