PEACHTREE FUNDS
497, 1994-11-30
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Peachtree BOND FUND
Peachtree EQUITY FUND
Peachtree GEORGIA TAX-FREE INCOME FUND
Peachtree GOVERNMENT MONEY MARKET FUND
Peachtree PRIME MONEY MARKET FUND
(Portfolios of Peachtree Funds)
For Distribution with the Prospectuses in the State of Arizona
Supplement to the Prospectuses dated November 30, 1994

Please insert the following language as the fourth paragraph on
the cover page of the prospectus:

     "Bank South, N.A., the Fund's investment adviser, has
     no previous experience managing mutual funds.
     However, Bank South, N.A. has managed discretionary
     assets for its customers since 1931."

                                               November 30, 1994


   FEDERATED SECURITIES CORP.

   Distributor
   A subsidiary of Federated
   Investors
   Federated Investors Tower
   Pittsburgh, PA  15222-3779
   
   70467H200     70467H309
   70467H101     70467H408
   70467H507
   006898(11/94)




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