David Stephens
FILED PURSUANT TO RULE 497(e)
REGISTRATION FILE NO. 33-42636
November 7, 1994
FIRST PRAIRIE U.S. TREASURY SECURITIES CASH MANAGEMENT
Supplement to Prospectus
Dated August 18, 1994
The Fund's Board has approved, subject to shareholder
approval, the reorganization of the Fund as a separate series of
Prairie Institutional Funds named U.S. Government Securities Cash
Management Fund (the "New Series"). Prairie Institutional Funds
is
a newly-formed registered investment company. If the transaction
is consummated, former Fund shareholders will receive the same
number of shares of the New Series as they owned of the Fund
immediately before the transaction was consummated. These shares
initially will have the same net asset value as the shares of the
Fund owned before the transaction was consummated. The
transaction
is expected to be tax free for Federal income tax purposes. If
the
transaction is consummated, the Fund will be liquidated and its
existence terminated.
A meeting of the Fund's shareholders to consider the
transaction is scheduled to be held on or about December 16,
1994.
A Proxy Statement/Prospectus with respect to the proposed
transaction will be mailed prior to the shareholders' meeting to
Fund shareholders of record as of November 14, 1994. The Proxy
Statement/Prospectus will provide further information regarding
the proposed transaction and the New Series.
