MONARCH FUNDS
497, 1998-12-31
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M O N A R C H  F U N D S
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Treasury Cash Fund
Government Cash Fund
Cash Fund

                       Supplement Dated January 1, 1999 to
                        Prospectus Dated January 1, 1999



Forum Financial Services,  Inc. will continue to serve as the Funds' distributor
until  January 15,  1999.  After that date,  Forum Fund  Services,  LLC,  also a
registered  broker-dealer  and member of the National  Association of Securities
Dealers, Inc., will serve as distributor of the Funds.




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