PREMIER MUNICIPAL BOND FUND
497, 1996-07-18
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                                                                 July 19, 1996
                         PREMIER MUNICIPAL BOND FUND
                          SUPPLEMENT TO PROSPECTUS
                            DATED JULY 12, 1995
        THE FOLLOWING INFORMATION SUPERSEDES OR REPLACES ANY CONTRARY 
INFORMATION CONTAINED IN THE SECTION OF THE FUND'S PROSPECTUS ENTITLED "HOW 
TO BUY FUND SHARES -- CLASS A SHARES."
        Effective immediately, a CDSC of 1% will be assessed at the time of 
redemption of Class A shares purchased without an initial sales charge as 
part of an investment of at least $1,000,000 and redeemed within one year of 
purchase.
                                                 022s071996



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