HARRIS ASSOCIATES INVESTMENT TRUST
497, 1997-05-27
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<PAGE>
 
                           OAKMARK(R) FAMILY OF FUNDS
 
                     SUPPLEMENT TO MARCH 1, 1997 PROSPECTUS
                     OF HARRIS ASSOCIATES INVESTMENT TRUST
 
 
  David G. Herro and Michael J. Welsh are the portfolio manager and the co-
manager, respectively, of each of The Oakmark International Fund and The
Oakmark International Small Cap Fund.
 
                     This supplement is dated May 27, 1997.
 




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