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Previous: DEFINED ASSET FUNDS MUNICIPAL INVT TR FD INSURED SERIES 91, AW, 1994-09-02 |
Next: VANGUARD NEW YORK INSURED TAX FREE FUND, 497, 1994-09-02 |
<PAGE>
VANGUARD CALIFORNIA TAX-FREE FUND
PROSPECTUS SUPPLEMENT
SEPTEMBER 9, 1994
Effective September 16, 1994, check purchases into all Vanguard bond fund
portfolios will receive a trade date the day the funds are received in good
order by Vanguard. (See "Shareholder Guide" for definition of good order). This
represents a change from our previous policy to hold purchases until the next
business day, pending Federal Funds conversion.
PS75
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