NATIONS FUND TRUST
NATIONS FUND, INC.
NATIONS RESERVES
Supplement dated November 22, 1999
to Prospectuses dated August 1, 1999
1. The combined prospectuses for the Primary A, Investor A, Investor B and
Investor C Shares for the State Municipal Bond Funds of Nations Fund
Trust and Nations Reserves hereby are supplemented by deleting the last
two sentences in the section provided in each Fund description under
"About the State Municipal Bond Funds" entitled "Risks and other things
to consider -- Investment strategy risk."
2(a). The combined prospectuses for the Money Market Funds of Nations Fund
Trust, Nations Fund, Inc. and Nations Reserves (except for the
prospectus relating to Liquidity Class Shares of Nations Cash Reserves,
Nations Money Market Reserves and Nations Treasury Reserves) are hereby
supplemented by deleting the first call-out sentence in the section
entitled "About your investment -- How shares are priced," and
inserting the following in its place:
A business day is any day that the Federal Reserve Bank of New York is
open, except that the Funds will be closed on December 24, 1999 and at
1:00 p.m. on December 31, 1999 even though the Federal Reserve Bank of
New York may be open on those days and after that time.
2(b). The combined prospectus for Nations Cash Reserves, Nations Money Market
Reserves and Nations Treasury Reserves of Nations Reserves relating to
Liquidity Class Shares is hereby supplemented by:
(i) deleting the first call-out sentence in the section entitled
"About your investment -- How shares are priced," and inserting
the following in its place:
A business day is any day that the Federal Reserve Bank of New
York is open, except that the Funds will be closed on December
24, 1999 even though the Federal Reserve Bank of New York may
be open on that day.
(ii) deleting the first bullet point sentence in the section entitled
"About your investment -- How orders are processed," and inserting
the following in its place:
o 5:00 p.m. Eastern time for Nations Cash Reserves, Nations
Money Market Reserves and Nations Treasury Reserves,
except for December 31, 1999 when it will be 4:00 p.m.
Eastern time, although it is anticipated that on that day
any orders to buy shares will not be accepted after 1:00
p.m.
