<PAGE> 1
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 "Contingent Deferred Sales Charge -Investments of $1 million or more in
Class A shares" section under SHARE PRICE is supplemented as follows:
Existing full-service clients of John Hancock Mutual Life Insurance
Company group annuity contract holders as of September 1, 1994, may purchase
Class A shares with no initial sales change, 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.
August 28, 1995
3400S -9/95
