MARSHALL FUNDS, INC.
Supplement to Combined Prospectus dated January 1, 1995
The following information is a supplement to your combined prospectus. We're
providing it to advise you of a change in portfolio managers for the Marshall
Intermediate Bond Fund and Marshall Short-Term Income Fund.
The Marshall Funds, Inc. combined prospectus is amended as follows: the sixth
paragraph under the subheading "Portfolio Management Team" on page 23 is
amended to reflect that, effective April 1995, the Intermediate Bond Fund will
no longer be managed by Lawrence J. Pavelec, but will instead be managed by
Mark D. Pittman, and the Short-Term Income Fund will no longer be co-managed
by Mr. Pavelec and Mr. Pittman, but will instead be managed solely by Mr.
Pittman.
April 28, 1995
FEDERATED SECURITIES CORP.
Distributor
A subsidiary of Federated Investors
Federated Investors Tower
Pittsburgh, PA 15222-3779
G1010-02 (4/95)
