<PAGE> 1
OVERLAND EXPRESS FUNDS, INC.
NATIONAL TAX-FREE INSTITUTIONAL MONEY MARKET FUND
SUPPLEMENT DATED FEBRUARY 3, 1997
TO THE PROSPECTUS DATED APRIL 1, 1996
AS SUPPLEMENTED ON NOVEMBER 12, 1996
The Prospectus for the National Tax-Free Institutional Money Market Fund is
hereby amended and supplemented as follows:
The net asset value for shares of the above-referenced Fund
is calculated as of 9:00 a.m. and 1:00 p.m. (Pacific time). The
Fund will no longer calculate net asset value at 12:00 noon
(Pacific time).
(92 SUPP 2/97)
<PAGE> 2
OVERLAND EXPRESS FUNDS, INC.
CALIFORNIA TAX-FREE MONEY MARKET FUND
MONEY MARKET FUND
U.S. TREASURY MONEY MARKET FUND
SUPPLEMENT DATED FEBRUARY 3, 1997
TO THE PROSPECTUS FOR THE CLASS A SHARES DATED MAY 1, 1996
AND THE PROSPECTUS FOR THE INSTITUTIONAL CLASS SHARES DATED MAY 1, 1996
EACH AS SUPPLEMENTED ON NOVEMBER 12, 1996
The Prospectus for each of the above-referenced Funds is hereby amended and
supplemented as follows:
The net asset value for shares of the California Tax-Free
Money Market Fund is calculated as of 12:00 noon and 4:00 p.m.
(New York time). The net asset value for shares of the Money
Market and U.S. Treasury Money Market Funds is calculated as of
3:00 p.m. and 4:00 p.m. (New York time). For the Money Market
and U.S. Treasury Money Market Funds, all references to "12:00
noon" under "Determination of Net Asset Value," "Purchase of
Shares," "Exchange Privileges," "Redemption of Shares" and
"Dividends and Distributions" in each Prospectus should be read
as "3:00 p.m."
On any day the trading markets for both U.S. government
securities and money market instruments close early, the Money
Market and U.S. Treasury Money Market Funds may close early. On
these days, the net asset value calculation time and the
dividend, purchase and redemption cut-off times for each such
Fund may be earlier than 3:00 p.m. (New York time).
The investment policies of the U.S. Treasury Money Market
Fund have been modified to permit investments in repurchase
agreements fully collateralized by U.S. Treasury securities. A
repurchase agreement involves a transaction in which the seller
of a security to the Fund agrees to repurchase that security
from the Fund at a mutually agreed upon time and price.
(MMP SUPP 2/97)
