Nations Institutional Reserves
Supplement dated February 9, 1999
to Prospectus dated January 25, 1999
The prospectus for the Service Class Shares of Nations Cash Reserves, Nations
Money Market Reserves, Nations Treasury Reserves, Nations Government Reserves
and Nations Municipal Reserves of Nations Institutional Reserves is hereby
supplemented by deleting the table under the heading "EXPENSES SUMMARY --
EXAMPLES" and inserting in its place the following:
Examples: You would pay the following expenses on a $1,000 investment in
Service Class Shares of the indicated Fund assuming (1) a 5% annual return and
(2) redemption at the end of each time period.
<TABLE>
<CAPTION>
1 Year 3 Years 5 Years 10 Years
<S> <C> <C> <C> <C>
Nations Cash Reserves $12 $38 $66 $145
- --------------------------------------------------------------------------
Nations Money Market Reserves $12 $38 $66 $145
- --------------------------------------------------------------------------
Nations Treasury Reserves $12 $38 $66 $145
- --------------------------------------------------------------------------
Nations Government Reserves $12 $38 $66 $145
- --------------------------------------------------------------------------
Nations Municipal Reserves $12 $38 $66 $145
</TABLE>
