Chapman and Cutler
111 West Monroe Street
Chicago, Illinois 60603
August 22, 1995
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549-1004
Attn: Filing Desk, Stop 1-4
Re: Insured Municipals Income Trust and
Investors' Quality Tax-Exempt Trust
Multi-Series 254 File No. 33-58957
Ladies/Gentlemen:
Pursuant to the requirements of Rule 497(d) of the General Rules and
Regulations of the Securities Act of 1933, we are submitting one revised
copy of the prospectus being used with respect to the above-mentioned
series.
Very truly yours,
Chapman and Cutler
Attachment
INSURED MUNICIPALS INCOME TRUST AND
INVESTORS' QUALITY TAX-EXEMPT TRUST, MULTI-SERIES 254
TEXAS IM-IT 40
SUPPLEMENT TO THE PROSPECTUS DATED JUNE 15, 1995
Not withstanding anything to the contrary in the prospectus, the "Per Unit
Information" for this trust should have the following information added to
replace the section "Calculation of Estimated Interest Earnings per Unit
After the First Year (1)":
<TABLE>
<CAPTION>
Semi-
Monthly Annual
<S> <C> <C>
Estimated Annual Interest Income per Unit............... $ 54.67 $ 54.67
Less: Estimated Annual Expense per Unit <F2>........... $ 2.49 $ 2.04
Less: Annual Premium on Portfolio Insurance per Unit... $ -- $ --
Estimated Net Annual Interest Income per Unit........... $ 52.18 $ 52.63
</TABLE>
