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<PAGE> 1
MAGNA FUNDS
SUPPLEMENT DATED JANUARY 14, 2000
TO THE
MAGNA FUNDS PROSPECTUS DATED JANUARY 1, 2000
The Magna Tax Exempt Bond Fund (the "Fund") has not yet commenced
operations. Prior to commencement of the Fund's operations, which is expected to
occur in 2000, shares of the Fund will not be available for purchase.
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