<PAGE> 1
CAPSTONE NEW ZEALAND FUND
A SERIES OF CAPSTONE INTERNATIONAL SERIES TRUST
SUPPLEMENT DATED AUGUST 21, 1995
TO
PROSPECTUS DATED MARCH 1, 1995
AND
SUPPLEMENTED MAY 24, 1995
Effective August 21, 1995 payments made to the Fund's Distributor, Capstone
Asset Planning Company, pursuant to the Fund's Service and Distribution Plan
may not exceed .25% of the average net assets of the Fund.
<PAGE> 2
CAPSTONE NEW ZEALAND FUND
A SERIES OF CAPSTONE INTERNATIONAL SERIES TRUST
SUPPLEMENT DATED AUGUST 21, 1995
TO
STATEMENT OF ADDITIONAL INFORMATION DATED MARCH 1, 1995
AND
SUPPLEMENTED MAY 24, 1995
Effective August 21, 1995 payments made to the Fund's Distributor, Capstone
Asset Planning Company, pursuant to the Fund's Service and Distribution Plan
may not exceed .25% of the average net assets of the Fund.
