<PAGE> 1
CAPSTONE NIKKO JAPAN FUND
A SERIES OF CAPSTONE INTERNATIONAL SERIES TRUST
SUPPLEMENT DATED AUGUST 21, 1995
TO
PROSPECTUS DATED MARCH 1, 1995
AND
SUPPLEMENTED JUNE 23, 1995, MAY 24, 1995 AND MARCH 17, 1995
Effective August 21, 1995 the front-end sales load applicable to purchases
of Fund shares is eliminated. All references to the sales load in the
Prospectus are hereby deleted.
<PAGE> 2
CAPSTONE NIKKO JAPAN FUND
A SERIES OF CAPSTONE INTERNATIONAL SERIES TRUST
SUPPLEMENT DATED AUGUST 21, 1995
TO
STATEMENT OF ADDITIONAL INFORMATION DATED MARCH 1, 1995
AND
SUPPLEMENTED MAY 24, 1995
Effective August 21, 1995 the front-end sales load applicable to purchases
of Fund shares is eliminated. All references to the sales load in the Statement
of Additional Information are hereby deleted.
