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JOHN HANCOCK DISCOVERY FUND
SUPPLEMENT TO PROSPECTUS DATED DECEMBER 1, 1994
On August 28, 1995, the Trustees of the Fund voted to recommend that
the Fund's shareholders approve changes to the Fund's investment objective and
restrictions. A proxy statement describing these proposals in detail will be
mailed on or about September 29, 1995 to shareholders of record as of September
22, 1995.
The Trustees voted to recommend to shareholders that the Fund adopt a
new investment objective. As proposed, the Fund's investment objective will be
to achieve long-term growth of capital by investing in companies with all
levels of capitalization.
The Trustees also voted to adopt changes to the Fund's fundamental
investment restrictions to permit short sales of securities and to permit the
Fund to loan portfolio securities.
The "Qualifying for a Reduced Sales Charge" section under SHARE PRICE is
supplemented as follows:
Effective March 15, 1995, participant directed defined contribution
plans with at least 100 eligible employees at the inception of the Fund account
may purchase Class A shares of the Fund without an initial sales charge but if
the shares are redeemed within 12 months after the end of the calendar year in
which the purchase was made, a contingent deferred sales charge will be imposed
at the rate for Class A shares described in the prospectus.
ADDITIONAL SERVICES AND PROGRAMS
Exchange Privilege
The paragraph under this heading regarding exchanges of Class B shares into
John Hancock Cash Management Fund is deleted in its entirety and replaced by:
You may exchange Class B shares of the Fund(s) into Class B shares
of John Hancock Money Market Fund at net asset value. However, you
will continue to be subject to a CDSC upon redemption.
September 29, 1995
3400S -9/95
