111 CORCORAN BOND FUND
111 CORCORAN EQUITY FUND
111 CORCORAN NORTH CAROLINA MUNICIPAL SECURITIES FUND
(Portfolios of the 111 Corcoran Funds)
SUPPLEMENT TO PROSPECTUSES DATED JULY 31, 1997
Effective immediately, all general correspondence, purchases by check, and
exchanges and redemptions by written request should be directed to the following
address: 111 Corcoran Funds, c/o Federated Shareholder Services Company, P.O.
Box 8609, Boston, Massachusetts 02266.
Accordingly, please delete the first sentence of the section entitled "Written
Exchange" on page 17 of the 111 Corcoran Bond Fund and 111 Corcoran Equity Fund
prospectuses, and page 15 of the 111 Corcoran North Carolina Municipal
Securities Fund prospectus, and replace it with the following:
"A shareholder wishing to make an exchange by written request may do so by
sending it to: 111 Corcoran Funds, c/o Federated Shareholder Services Company,
P.O. Box 8609, Boston, Massachusetts 02266."
In addition, please delete the first sentence of the section entitled "By Mail"
on page 17 of the
111 Corcoran Bond Fund and 111 Corcoran Equity Fund prospectuses, and page 16 of
the 111 Corcoran North Carolina Municipal Securities Fund prospectus, and
replace it with the following:
"Any shareholder may redeem Fund shares by sending a written request to:
111 Corcoran Funds, c/o Federated Shareholder Services Company, P.O. Box 8609,
Boston, Massachusetts 02266."
April 9, 1998
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Cusip 682365200
Cusip 682365309
Cusip 682365101
G01197-02 (4/98)
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