HANCOCK JOHN INVESTMENT TRUST III
497, 1998-12-09
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      Supplement to the John Hancock Global/International Funds Prospectus
                        for John Hancock World Bond Fund




On  December 8, 1998,  the  Trustees  of the John  Hancock  World Bond Fund (the
"Fund")   voted  to  recommend   that  the   shareholders   approve  a  tax-free
reorganization of the Fund, as described below.

Under the terms of the  reorganization,  subject to  shareholder  approval  at a
shareholder meeting scheduled for February 10, 1999, the Fund would transfer all
of its  assets  and  liabilities  to the  John  Hancock  Strategic  Income  Fund
("Strategic  Income  Fund") in a tax-free  exchange for shares of equal value of
Strategic Income Fund. Further information regarding the proposed reorganization
will be contained in a proxy statement and prospectus,  which is scheduled to be
mailed to shareholders on or about December 17, 1998.

Effective  December 9, 1998,  John Hancock World Bond Fund will be closed to all
new accounts.


December 9, 1998

12/98




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