August 31, 1995
VIA EDGAR TRANSMISSION
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Cappiello-Rushmore Trust
File Nos. 33-46283 and 811-6601
Dear Sir or Madam:
Pursuant to Rule 497(e) under the Securities Act of 1933, as
amended, enclosed for filing on behalf of the Cappiello-Rushmore
Trust (the "Trust") please find a copy of the Prospectus
Supplement, dated August 31, 1995, which Prospectus Supplement
will be affixed to the cover page of the Prospectus for the
Cappiello-Rushmore Gold Fund, a series of the Trust (the "Fund"),
that are distributed to shareholders of, or potential investors
in, the Fund.
If you should have any questions regarding the foregoing,
please contact the undersigned at (310) 657-0003.
Very truly yours,
Linda R. Paisley
Enclosure:
As Stated
cc: James Bernstein, Esq.
CAPPIELLO-RUSHMORE TRUST
GOLD FUND
Supplement dated August 31, 1995 to Prospectus dated October 27,
1994
The time after which (i) purchases by wire transfer, (ii)
telephone redemptions, and (iii) telephone exchanges cannot be
accepted is hereby changed from "3:30 P.M. Eastern time" to "4:00
P.M. Eastern time," as set forth (i) at page 13 under "How to
Invest in the Trust," (ii) at page 13 under "How to Redeem An
Investment (Withdrawals)," and (iii) at page 14 under "Exchanges,"
respectively.
