PEACHTREE FUNDS
497, 1995-07-06
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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)
SUPPLEMENT TO THE PROSPECTUSES DATED NOVEMBER 30, 1994


At the close of business on June 29, 1995, Bank South, N.A. converted from a
National Bank to a Georgia Charter under the name Bank South and it remains a
member of the Federal Reserve System.  All references herein to Bank South,
N.A. shall refer to and mean Bank South upon and following the conversion.



July 6, 1995


    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    Cusip     70467H200
              70467H101
              70467H507
              70467H309    70467H408
    G00221-07 (6/95)



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)
SUPPLEMENT TO THE STATEMENTS OF ADDITIONAL INFORMATION DATED NOVEMBER 30, 1994


At the close of business on June 29, 1995, Bank South, N.A. converted from a
National Bank to a Georgia Charter under the name Bank South and it remains a
member of the Federal Reserve System.  All references herein to Bank South,
N.A. shall refer to and mean Bank South upon and following the conversion.



July 6, 1995

    FEDERATED SECURITIES CORP.

    Distributor
    A subsidiary of Federated Investors
    Federated Investors Tower
    Pittsburgh, PA  15222-3779
    Cusip     70467H200
              70467H101
              70467H507
              70467H309    70467H408
    G00221-08(6/95)




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