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JOHN HANCOCK TAX-FREE BOND FUND, MAY 1, 1995
SUPPLEMENT TO CLASS A AND CLASS B PROSPECTUS
The "INVESTMENT OBJECTIVE AND POLICIES" section is amended as follows:
The Fund may invest up to 35% of its assets in municipal bonds rated, at time
of purchase, Ba, B by Moody's Investors Services, Inc., BB, B by Standard &
Poor's Rating Group or Fitch or, if not rated, determined by the Adviser
to be of comparable credit quality. These bonds are considered speculative and
are generally referred to as junk bonds. While generally providing greater
income than investments in higher quality securities, these bonds involve
greater risk of principal and income loss, including the possibility of
default. These bonds may have greater price volatility, especially during
periods of economic uncertainty or change. Bonds rated B are currently meeting
debt services requirements but provide a limited margin of safety and are
vulnerable to default in the event of adverse business, financial or economic
conditions. In addition, the market for these bonds may be less liquid than
the market for higher rated securities. Therefore, John Hancock Adviser's
judgment at times play a greater role in the performance and valuation of the
Fund's investments in these bonds.
"THE FUND'S EXPENSES" section is amended as follows:
The Trustees of the Fund have voted to recommend that the Class A shareholders
of the Fund approve an increase in the Rule 12b-1 fee for Class A shares of the
Fund from 0.15% of average daily net assets to 0.25% of average daily net
assets effective at the end of 1996.
November 28, 1995
5200S 1/96
