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EXCELSIOR INSTITUTIONAL TRUST
INSTITUTIONAL INCOME FUND AND INSTITUTIONAL
TOTAL RETURN BOND FUND
SUPPLEMENT TO PROSPECTUS DATED SEPTEMBER 30, 1996
The second paragraph of the section entitled "Management of the Trust--
Investment Managers--Equity Fund, Income Fund and Total Return Bond Fund" has
been amended to include the following information:
The following persons are primarily responsible for the day-to-day
management of the Income and Total Return Bond Funds:
Income Fund and Total Return Alexander R. Powers, Senior Vice President
Bond Fund........................ and Manager of Taxable Fixed-Income
Investments since July 1996; Portfolio
manager of the Funds since December, 1996;
Manager of Taxable Fixed-Income
Investments, Chase Asset Management from
1988 to 1996.
The date of this Supplement is January 17, 1997.
