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SUPPLEMENT DATED APRIL 3, 1995
TO PROSPECTUS OF
AMERICAN CAPITAL TEXAS MUNICIPAL SECURITIES FUND, INC.
1. The following replaces the last paragraph under the section entitled "The
Fund and Its Management":
Joseph A. Piraro is primarily responsible for the day-to-day
management of the Fund's investment portfolio since April 3, 1995. Mr.
Piraro is Vice President of the Fund and an agent of the Adviser. Mr.
Piraro has been employed by Van Kampen American Capital Investment Advisory
Corp., an affiliate of the Adviser, since 1992. Prior to that time, Mr.
Piraro was employed by First Chicago Capital Markets.
2. The Section "Purchase of Shares -- General" is Supplemented as follows:
In addition, the Distributor is sponsoring a sales contest for INVEST
Financial Corporation ("Invest") relating to the Fund and certain other funds or
investment products sponsored by the Distributor. Under the terms of the
contest, an Invest broker may receive an award valued up to $750.00 for sales
during the period April 1, 1995 through May 31, 1995.
