<PAGE> 1
July 29, 1996
Dear Fountain Square Funds Client:
Fifth Third Bank is pleased to announce that Roberta Tucker and Carla C.
McGuire have joined the investment management team of the Fountain Square
Funds.
Ms. Tucker is the Chief Fixed Income Strategist and a Portfolio Manager for the
Fifth Third Bank. She has more than 13 years of investment experience and has
assumed investment management responsibility for the Balanced, Quality Bond and
Ohio Tax Free Bond Funds in July of 1996. Prior to joining Fifth Third Bank in
June of 1996, Ms. Tucker was head of Fixed Income Management at Westridge
Capital Management in Santa Barbara, California from May 1994 through May 1996.
Prior to that she was a Vice President and Senior Fund Manager with Banc
One Investment Advisors since 1987.
Ms. McGuire is a graduate of Maryville University and earned a B.S. in
Information Systems. She continued her education at St. Louis University and
earned a M.B.A. in Finance. Ms. McGuire has more than 11 years of investment
experience. She came to Fifth Third Bank in August 1992. She participates in
setting fixed-income strategy and will be the Portfolio Manager of the Fountain
Square U.S. Government Securities Fund.
Your Fountain Square Funds prospectus has been amended to reflect a change in
the portfolio managers for the Balanced, Quality Bond, Ohio Tax Free Bond and
U.S. Government Securities Funds.
If you have any questions regarding the prospectus change, please contact your
Relationship Officer.
Thank you for your business.
Sincerely,
James D. Berghausen
Senior Vice President &
Chief Investment Officer
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THEIR PROSPECTUS
FOR FUTURE REFERENCE
BISYS Fund Services is the distributor of the Funds.
<PAGE> 2
July 29, 1996
Dear Fountain Square Funds Client:
Fifth Third Bank is pleased to announce that Roberta Tucker and Carla C.
McGuire have joined the investment management team of the Fountain Square
Funds.
Ms. Tucker is the Chief Fixed Income Strategist and a Portfolio Manager for the
Fifth Third Bank. She has more than 13 years of investment experience and has
assumed investment management responsibility for the Balanced, Quality Bond and
Ohio Tax Free Bond Funds in July of 1996. Prior to joining Fifth Third Bank in
June of 1996, Ms. Tucker was head of Fixed Income Management at Westridge
Capital Management in Santa Barbara, California from May 1994 through May 1996.
Prior to that she was a Vice President and Senior Fund Manager with Banc
One Investment Advisors since 1987.
Ms. McGuire is a graduate of Maryville University and earned a B.S. in
Information Systems. She continued her education at St. Louis University and
earned a M.B.A. in Finance. Ms. McGuire has more than 11 years of investment
experience. She came to Fifth Third Bank in August 1992. She participates in
setting fixed-income strategy and will be the Portfolio Manager of the Fountain
Square U.S. Government Securities Fund.
Your Fountain Square Funds prospectus has been amended to reflect a change in
the portfolio managers for the Balanced, Quality Bond, Ohio Tax Free Bond and
U.S. Government Securities Funds.
If you have any questions regarding the prospectus change, please contact your
Investment Representative.
Thank you for your business.
Sincerely,
Peter G. Bielan
Vice President & Manager
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THEIR PROSPECTUS
FOR FUTURE REFERENCE
BISYS Fund Services is the distributor of the Funds.
