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FILED PURSUANT TO RULE 497(e)
1933 ACT FILE NO. 33-4806
1940 ACT FILE NO. 811-4636
THE GALAXY FUND
GALAXY MONEY MARKET FUND
GALAXY U.S. TREASURY FUND
GALAXY TAX-EXEMPT FUND
GALAXY SHORT-TERM BOND FUND
GALAXY INTERMEDIATE GOVERNMENT INCOME FUND
GALAXY HIGH QUALITY BOND FUND
GALAXY RHODE ISLAND MUNICIPAL BOND FUND
GALAXY ASSET ALLOCATION FUND
GALAXY GROWTH AND INCOME FUND
GALAXY INTERNATIONAL EQUITY FUND
BKB SHARES
SUPPLEMENT DATED JUNE 29, 2000 TO THE
PROSPECTUS DATED FEBRUARY 28, 2000
The following information is added to and supplements the information
currently found on pages 48 and 49 of the Prospectus under "Galaxy Investor
Programs":
CHECKWRITING - GALAXY MONEY MARKET FUND, GALAXY U.S. TREASURY FUND AND GALAXY
TAX-EXEMPT FUND ONLY
You can sign up for Galaxy's checkwriting privilege by completing the signature
card that accompanies the account application or by writing or calling Galaxy's
distributor at 1-877-BUY-GALAXY (1-877-289-4252) to obtain a signature card. An
investor will receive the daily dividends declared on the BKB Shares to be
redeemed up to the day that a check is presented to Galaxy's custodian for
payment. Upon 30 days' written notice to investors, the checkwriting privilege
may be modified or terminated. There is no limit on the number of checks you
can write each month, although each check must be in an amount of at least
$250. Galaxy may impose a fee for use of the checkwriting privilege. Please
note that you can't write a check to close your account.
