THE NORTH CAROLINA TAX FREE BOND FUND
SUPPLEMENT
The Prospectus and Statement of Additional Information, dated December
31, 1997, of The North Carolina Tax Free Bond Fund (the "Fund") is hereby
amended to reflect the following new information:
1. Advisor. The shareholders of the Fund have approved the
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new Investment Advisory Agreement with Boys, Arnold &
Company, Inc. described on page 17 of the Prospectus.
2. Administrator and Transfer Agent. The Fund has entered into
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the Administration Agreement with Countrywide Fund Services,
Inc. described on page 18 of the Prospectus.
3. Address and Phone Number of Fund. Inquiries concerning the
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Fund, shareholder accounts, and purchases or redemptions of
shares in the Fund should now be addressed to:
The North Carolina Tax Free Bond Fund
P.O. Box 5354
Cincinnati, Ohio 45201-5354
1-800-841-0987
For persons desiring to invest in the Fund by bank wire, your
bank should now use the following wire instructions:
The Fifth Third Bank
Cincinnati, Ohio
ABA # 042000314
For The North Carolina Tax Free Bond Fund
Acct. # 999-41635
For further credit to (shareholder's name and
Acct.#)
For further information concerning purchases or redemptions of
Fund shares, see "How Shares May Be Purchased" and "How Shares
May be Redeemed" in the Prospectus.
The date of this Supplement is March 2, 1998.
