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Supplement Dated
April 29, 1996
to the Prospectuses dated December 29, 1995 for:
SCHWAB 1000 FUND(R)
SCHWAB LONG-TERM GOVERNMENT BOND FUND
SCHWAB SHORT/INTERMEDIATE GOVERNMENT BOND FUND
SCHWAB LONG-TERM TAX-FREE BOND FUND
SCHWAB SHORT/INTERMEDIATE TAX-FREE BOND FUND
SCHWAB CALIFORNIA LONG-TERM TAX-FREE BOND FUND
SCHWAB CALIFORNIA SHORT/INTERMEDIATE TAX-FREE BOND FUND
As part of a commitment to low-cost investing, the Investment Manager and Schwab
guarantee the reduction of the operating expense ratio described in each
Prospectus for the above-referenced Funds through at least December 31, 1996.
TF 4088
