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                               MARQUIS FUNDS(R)

                                 Balanced Fund
                          Government Securities Fund
                              Growth Equity Fund
                        Louisiana Tax-Free Income Fund
                               Value Equity Fund

     Supplement dated April 15, 1996 to Prospectus dated January 29, 1996

          From April 15, 1996 through May 15, 1996 purchases of Class A shares
of the Marquis Louisiana Tax-Free Income Fund (the "Fund") will not be subject
to a sales charge.  This offer covers purchases of new shares only and does not
apply to previously purchased shares.

          Effective May 15, 1996, the 3.50% front-end sales charge normally
imposed on Class A shares of the Fund will be reinstated.


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