FIRST AMERICAN INVESTMENT FUNDS, INC.
INTERNATIONAL FUNDS
Supplement Dated July 17, 2000
To Prospectus Dated January 31, 2000
THIS INFORMATION SUPPLEMENTS THE PROSPECTUS DATED JANUARY 31, 2000. THIS
SUPPLEMENT AND THE PROSPECTUS CONSTITUTE A CURRENT PROSPECTUS. TO REQUEST
ANOTHER COPY OF THE PROSPECTUS, PLEASE CALL FIRST AMERICAN FUNDS INVESTOR
SERVICES AT 1-800-637-2548.
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Page 12, replace text under Policies and Services, Buying and Selling Shares,
with the following:
CLASS C SHARES
Your purchase price for Class C shares is their net asset value plus a front-end
sales charge equal to 1% of the purchase price (1.01% of the net amount
invested). If you redeem your shares within 18 months of purchase, you will be
assessed a contingent deferred sales charge (CDSC) of 1% of the value of your
shares at the time of purchase or at the time of sale, whichever is less. The
CDSC does not apply to shares you acquired by reinvesting your dividend or
capital gain distributions. Shares will be sold in the order that minimizes your
CDSC.
Even though your sales charge is only 1%, the funds' distributor pays a
commission equal to 2% of your purchase price to your broker or participating
institution. Additionally, the advisor may pay its affiliates, U.S. Bancorp
Investments, Inc. and U.S. Bancorp Piper Jaffray Inc. an additional commission
equal to 1% of your purchase price. The distributor receives any CDSC imposed
when you sell your Class C shares.
The CDSC for Class C shares will be waived in the same circumstances as the
Class B share CDSC. See "Class B Shares" above.
Unlike Class B shares, Class C shares do not convert to Class A shares after a
specified period of time. Therefore, your shares will continue to have higher
annual expenses than Class A shares.
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