INDEPENDENCE ONE EQUITY PLUS FUND
INDEPENDENCE ONE SMALL CAP FUND
INDEPENDENCE ONE INTERNATIONAL EQUITY FUND
(A Portfolio of Independence One(R)Mutual Funds)
SUPPLEMENT TO PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION DATED
AUGUST 31, 1999
Effective May 1, 2000, INDEPENDENCE ONE EQUITY PLUS FUND designated its
existing Class Y Shares as Trust Shares. Accordingly, all references to the
Fund's Class Y Shares should be replaced with Trust Shares.
Trust Shares are offered primarily as follows: (a) through the Trust
Division of Michigan National Bank; (b) to Trustees, employees and retired
employees of the Fund, Michigan National Corporation or its subsidiaries, or
Federated Securities Corp. or its affiliates, and their spouses and children
under the age of 21, and (c) to persons or entities who held Class Y Shares of
the Fund on April 30, 2000.
May 1, 2000
Federated Securities Corp., Distributor
CUSIP 453777872
CUSIP 453777831
CUSIP 453777849
25379 (5/00)
INDEPENDENCE ONE U.S. GOVERNMENT SECURITIES FUND
INDEPENDENCE ONE FIXED INCOME FUND
INDEPENDENCE ONE MICHIGAN MUNICIPAL BOND FUND
(A PORTFOLIO OF INDEPENDENCE ONE(R)MUTUAL FUNDS)
SUPPLEMENT TO PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION DATED
AUGUST 31, 1999
Effective May 1, 2000, INDEPENDENCE ONE FIXED INCOME FUND designated its
existing Class Y Shares as Trust Shares. Accordingly, all references to the
Fund's Class Y Shares should be replaced with Trust Shares.
Trust Shares are offered primarily as follows: (a) through the Trust
Division of Michigan National Bank; (b) to Trustees, employees and retired
employees of the Fund, Michigan National Corporation or its subsidiaries, or
Federated Securities Corp. or its affiliates, and their spouses and children
under the age of 21, and (c) to persons or entities who held Class Y Shares of
the Fund on April 30, 2000.
May 1, 2000
Federated Securities Corp., Distributor
CUSIP 453777864
CUSIP 453777856
CUSIP 453777807
25378 (5/00)
