GOLDMAN SACHS MUNICIPAL INCOME FUND
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Supplement dated October 13, 1995 to
Prospectus dated March 1, 1995
The following language replaces the third paragraph on page 25
under the heading "Management -- Investment Adviser and
Administrator" in the Prospectus:
The Fund's portfolio managers are Theodore T. Sotir and
Benjamin S. Thompson. Mr. Sotir is a Vice President and his
responsibilities include development of overall fixed income
strategy and risk control. Mr. Sotir joined Goldman Sachs Asset
Management in 1993, after working as a portfolio manager at
Fidelity Management Trust Company. Prior to joining Fidelity,
Mr. Sotir worked for Goldman Sachs in the fixed income division
for six years. Mr. Thompson specializes in municipal securities,
where his responsibilities include developing investment strategy
and structuring portfolios. Mr. Thompson worked in the
institutional sales and marketing group at Goldman Sachs Asset
Management until he joined the fixed income team in 1993. Prior
to joining Goldman Sachs Asset Management in early 1992, Mr.
Thompson worked in the Structured Finance Group of the Chase
Manhattan Bank.
