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VANGUARD BOND INDEX FUND
PROSPECTUS SUPPLEMENT
MAY 15, 1995
The Fund reserves the right to deduct a portfolio transaction fee, ranging
from 0.15% to 0.25%, from purchases of the shares of each Portfolio, if
such purchase or cumulative purchases are of a size that is reasonably
deemed to be disruptive to efficient portfolio management. The fee will be
paid to the Portfolio to offset transaction costs of buying securities. The
fee is not paid to Vanguard and is not a sales charge.
PSBI
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