DORSEY & WHITNEY LLP
Pillsbury Center South
220 South Sixth Street
Minneapolis, Minnesota 55402-1498
JAMES D. ALT
(612) 340-2803
November 5, 1997
Securities and Exchange Commission VIA EDGAR TRANSMISSION
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: First American Investment Funds, Inc. (the "Company")
Registration Statement on Form N-1A
File Nos. 33-16905 and 811-5309
Rule 497(e) Filing
Ladies and Gentlemen:
Enclosed for filing, pursuant to Rule 497 under the Securities Act of
1933 and the SEC's Electronic Data Gathering, Analysis and Retrieval System
("EDGAR"), are the following:
1. Supplement dated November 5, 1997, to the Company's Statement
of Additional Information dated January 31, 1997, previously
filed.
2. Supplement dated November 5, 1997, to the Company's Statement
of Additional Information dated August 5, 1997, previously
filed.
Very truly yours,
/s/ James D. Alt
James D. Alt
JDA/cmq
Enclosures
cc: Jeff Wilson
Marie Lilly
Kathryn Stanton
Robert Kukuljan
Thomas Lynch
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RULE 497(e)
FILE NOS. 33-16905 AND 811-5309
FIRST AMERICAN INVESTMENT FUNDS, INC.
SUPPLEMENT DATED NOVEMBER 5, 1997
TO
STATEMENT OF ADDITIONAL INFORMATION
DATED JANUARY 31, 1997
STOCK FUND HEALTH SCIENCES FUND
EQUITY INDEX FUND REAL ESTATE SECURITIES FUND
BALANCED FUND INTERNATIONAL FUND
ASSET ALLOCATION FUND LIMITED TERM INCOME FUND
EQUITY INCOME FUND INTERMEDIATE TERM INCOME FUND
DIVERSIFIED GROWTH FUND FIXED INCOME FUND
EMERGING GROWTH FUND INTERMEDIATE GOVERNMENT BOND FUND
REGIONAL EQUITY FUND INTERMEDIATE TAX FREE FUND
SPECIAL EQUITY FUND MINNESOTA INSURED INTERMEDIATE TAX FREE FUND
TECHNOLOGY FUND COLORADO INTERMEDIATE TAX FREE FUND
The information set forth in the Statement of Additional Information
dated January 31, 1997 under the caption "Investment Restrictions" is hereby
supplemented as follows:
Fundamental investment restriction No. 4, which provides that no Fund
shall "[m]ortgage, pledge or hypothecate its assets, except in an amount not
exceeding 15% of the value of its total assets to secure temporary or emergency
borrowing," is eliminated.
<PAGE>
RULE 497(e)
FILE NOS. 33-16905 AND 811-5309
FIRST AMERICAN INVESTMENT FUNDS, INC.
SUPPLEMENT DATED NOVEMBER 5, 1997
TO
STATEMENT OF ADDITIONAL INFORMATION
DATED AUGUST 5, 1997
OREGON INTERMEDIATE TAX FREE FUND
CALIFORNIA INTERMEDIATE TAX FREE FUND
MICRO CAP VALUE FUND
The information set forth in the Statement of Additional Information
dated August 5, 1997, under the caption "Investment Restrictions" is hereby
supplemented as follows:
Fundamental investment restriction No. 4, which provides that no Fund
shall "[m]ortgage, pledge or hypothecate its assets, except in an amount not
exceeding 15% of the value of its total assets to secure temporary or emergency
borrowing," is eliminated.
