GRADISON CUSTODIAN TRUST
497, 1995-05-24
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          Supplement dated May 23, l995 to  Gradison-McDonald Government
          Income Fund Prospectus Dated May 1, l995

          At page 3 of the prospectus, (the Financial Highlights  table) the
     total return of the Fund for the Period ended December 31, l992, was
     6.29%.
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