FIRST PRIORITY FUNDS
First Priority Treasury Money Market Fund
First Priority Limited Maturity Government Fund
First Priority Fixed Income Fund
First Priority Balanced Fund
First Priority Value Fund
First Priority Growth Fund
SUPPLEMENT TO COMBINED PROSPECTUS AND COMBINED STATEMENT OF ADDITIONAL
INFORMATION DATED JANUARY 31, 1998
Effective May 15, 1998, First Priority Funds will change its name to Regions
Funds. As a result, please delete all references to "First Priority Funds"
throughout the prospectus and statement of additional information and replace
them with "Regions Funds" to reflect this change.
In addition, each of the individual portfolios will change its name as follows:
FORMER NAME NEW NAME
First Priority Treasury Money Market FundRegions Treasury Money Market Fund
First Priority Limited Maturity Government Fund Regions Limited Maturity
Government Fund First Priority Fixed Income Fund Regions Fixed Income Fund First
Priority Balanced Fund Regions Balanced Fund First Priority Value Fund Regions
Value Fund First Priority Growth Fund Regions Growth Fund
Therefore, please change all references to the respective portfolio's name in
the prospectus and statement of additional information.
May 15, 1998
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Cusip 75913Q878 Cusip 75913Q209 Cusip 75913Q886 Cusip 75913Q100 Cusip
75913Q852 Cusip 75913Q605 Cusip 75913Q860 Cusip 75913Q506 Cusip 75913Q803
Cusip 75913Q407 Cusip 75913Q704 Cusip 75913Q308 G01989-05 (5/98)
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