BILTMORE MUNICIPAL FUNDS, 497, 1994-12-16

BILTMORE MUNICIPAL FUNDS
497, 1994-12-16

Previous: DEAN WITTER GLOBAL SHORT TERM INCOME FUND INC, 485BPOS, 1994-12-16

Next: DEFINED ASSET FUNDS MUNICIPAL INVT TR FD INTERM TERM SER 166, 497, 1994-12-16



% Crop Marks
.5 setlinewidth
/markl 9 def
/whitel 4 def
 /top 72 def
 /bottom 122 def
 /left 45 def
 /right 45 def
%horizontals
left markl sub whitel sub wp$y wp$top sub moveto markl 0 rlineto
wp$x right sub left sub whitel 2 mul add 0 rmoveto markl 0 rlineto
left markl sub whitel sub bottom moveto markl 0 rlineto
wp$x right sub left sub whitel 2 mul add 0 rmoveto markl 0 rlineto
%verticals
left bottom markl sub whitel sub moveto 0 markl rlineto
0 wp$y wp$top sub bottom sub whitel 2 mul add rmoveto 0 markl rlineto
wp$x right sub bottom markl sub whitel sub moveto 0 markl rlineto
0 wp$y wp$top sub bottom sub whitel 2 mul add rmoveto 0 markl rlineto
stroke


SOUTH CAROLINA MUNICIPAL BOND FUND
(A Portfolio of The Biltmore Municipal Funds)
   
Supplement to Prospectus dated January 31, 1994  (Revised June 1, 1994)
   
   Effective immediately, the name of South Carolina Municipal Bond Fund, a
   portfolio of The Biltmore Municipal Funds, was changed to "Biltmore South
   Carolina Municipal Bond Fund."
   Accordingly, please replace all references to "South Carolina Municipal
   Bond Fund" in the Prospectus with "Biltmore South Carolina Municipal Bond
   Fund."
   
                                                           December 30, 1994


    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    WAC412408
    090313107
    G00874-01 (12/94)