This Supplement is filed pursuant to Rule 497(d) with regard to
Defined Asset Funds - Municipal Investment Trust Fund, Intermediate Term
Series - 241.
The text of the supplement to the Prospectus dated October 28, 1994
is as follows:
Supplement dated March 22, 1995
To Prospectuses of
Defined Asset Funds
Municipal Investment Trust Fund
Intermediate Term Series 208 and 241
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Obligations of the District of Columbia
The District of Columbia's financial condition continues to
deteriorate. Overspending by the District, principally in the human
services area, together with the District's weak recovery from the most
recent economic recession, a decrease in population and wealth levels
and a decline in its real estate tax base, have resulted in a worse-than-
anticipated fiscal deficit for 1994 and a rapidly expanding budget gap
for the current year. Furthermore, members of the Congressional
subcommittee that oversees the District have recently expressed dismay
over the District's finances and threatened to cut off future federal
appropriations for the District.
Despite the District's financial decline, its obligations have,
until recently, generally been considered investment grade. The District
has a unique statutory ability to access U.S. Treasury funds to meet
general and debt service expenses. This ability does not, however, ensure
full and timely payment of debt service on the District's obligations.
Moody's Investors Service, Inc. now rates District obligations
below investment grade at "Ba"; Standard & Poor's Corporation has currently
assigned District obligations its lowest investment grade rating of "BBB-".
No assurances can be given that these ratings might not be reduced in the
future.
