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Rule 497(e)
File No. 811-5559
Registration No. 33-21951
FINANCIAL HORIZONS INVESTMENT TRUST
Supplement dated December 8, 1997
to Prospectus dated February 28, 1997
Financial Horizons Investment Trust ("FHIT") has entered into an Agreement and
Plan of Reorganization, dated November 24, 1997 (the "Plan"), with Nationwide
Investing Foundation III ("NIF III"), an Ohio business trust. Pursuant to the
Plan and as listed in the chart below, a series of NIF III (the "Acquiring
Fund") would acquire all the assets of a current FHIT fund (each, a "Fund") in
exchange for the assumption of all the Fund's liabilities and a number of full
and fractional shares of the Acquiring Fund having an aggregate net asset value
equal to the Fund's net assets (the transactions contemplated by the Plan are
hereafter referred to as the "Reorganization"). The Plan also would require the
distribution of the Acquiring Fund shares received to the shareholders of each
of the Funds. For each of the Funds, except the Cash Reserve Fund, the
shareholders would receive Class D shares of the Acquiring Fund. The
shareholders of the Cash Reserve Fund would receive shares of the NIF III Money
Market Fund which are without class designation.
The Acquiring Funds (NIF III) The Funds (FHIT)
Mid Cap Growth Fund Growth Fund
Tax-Free Income Fund Municipal Bond Fund
Long-Term U.S. Government Bond Fund Government Bond Fund
Money Market Fund Cash Reserve Fund
The Reorganization is subject to certain regulatory approvals and approval by
the shareholders of each Fund at a Special Meeting of Shareholders currently
expected to be held in February 1998. If the shareholders approve the
Reorganization, it is expected that the Reorganization would be effected on or
about March 1, 1998; however, the Reorganization may be effected on such
earlier or later date as may be determined. There can be no assurance that the
Reorganization will take place when or as currently proposed.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS
FOR FUTURE REFERENCE.
