CARDINAL GROUP
497, 1997-04-15
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                                                    Rule 497 (e)
                                                    File No. 811-7588
                                                    Registration No. 33-59984
                                                     
                               THE CARDINAL FUND
                             CARDINAL BALANCED FUND
                        CARDINAL AGGRESSIVE GROWTH FUND
 
                                INVESTOR SHARES
 
                      SUPPLEMENT DATED APRIL 18, 1997,
                      TO PROSPECTUS DATED JANUARY 2, 1997
 
     Capitalized terms used in this Supplement have the meaning assigned to them
in the Prospectus.
 
     The first sentence of the fourth paragraph under the heading "HOW DO I
PURCHASE INVESTOR SHARES OF THE FUNDS?--PUBLIC OFFERING PRICE" on page 19 of the
Prospectus is amended to read as follows:
 
     No sales charge is imposed on purchases of Shares by (1) officers,
     trustees and employees of the Group, (2) full-time employees of The
     Ohio Company or the Adviser who have been such for at least 90 days or
     by qualified retirement plans for such persons, or (3) accounts with
     respect to which The Ohio Company serves either as a trustee or as
     investment adviser.
 
                  INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH
                      THE PROSPECTUS FOR FUTURE REFERENCE
<PAGE>   2
                                                    Rule 497 (e)
                                                    File No. 811-7588
                                                    Registration No. 33-59984
                                                    
                      CARDINAL GOVERNMENT OBLIGATIONS FUND
                                INVESTOR SHARES
 
                        SUPPLEMENT DATED APRIL 18, 1997,
                      TO PROSPECTUS DATED JANUARY 2, 1997
 
     Capitalized terms used in this Supplement have the meaning assigned to them
in the Prospectus.
 
     The first sentence of the fourth paragraph under the heading "HOW DO I
PURCHASE INVESTOR SHARES OF THE FUND? -- PUBLIC OFFERING PRICE" on page 12 of
the Prospectus is amended to read as follows:
 
     No sales charge is imposed on purchases of Shares by (1) officers,
     trustees and employees of the Group, (2) full-time employees of The
     Ohio Company or the Adviser who have been such for at least 90 days or
     by qualified retirement plans for such persons, or (3) accounts with
     respect to which The Ohio Company serves either as a trustee or as
     investment adviser.
 
                  INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH
                      THE PROSPECTUS FOR FUTURE REFERENCE


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