IBJ FUNDS TRUST
497, 1998-09-23
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IBJ FUNDS TRUST

SUPPLEMENT DATED SEPTEMBER 18, 1998
TO SERVICE CLASS PROSPECTUS DATED MARCH 30, 1998


	This Supplement is provided to update, and should be read 
in conjunction with, the information provided in the Service 
Class Prospectus.

	The following information replaces similar information 
found in the Management of the Funds section beginning on page 
16:

Mr. Paul Blaustein, Senior Vice President of IBJS, is responsible 
for the day-to-day management of the Core Equity Fund.  He has 
held this position since August 1998.  Mr. Blaustein has been 
with IBJS since 1997.  From April 1996 through September 1997 he 
was a Vice President and portfolio manager at Desai Capital 
Management.  Prior to that, Mr. Blaustein was a Vice President in 
the Investment Research Department of Legg Mason from October 
1994 through April 1996.  From August 1991 through September 
1994, Mr. Blaustein was a Vice President and investment analyst 
at Warburg Pincus Counsellors.  Mr. Blaustein was also a 
portfolio manager and research analyst at Oppenheimer Capital 
from October 1980 through August 1991.

Mr. Christian Kaefer, Senior Vice President of IBJS, is 
responsible for the day-to-day management of the equity portion 
of the Blended Total Return Fund.  He has held this position 
since April 1998.  Mr. Kaefer has been a senior portfolio manager 
at IBJS since 1987.  Mr. Kaefer was previously responsible for 
the day-to-day management of the Core Equity Fund from inception 
to December 1997 and from April 1998 to August 1998 and the 
equity portion of the Blended Total Return Fund from inception 
until October 1997.

	Mr. Martin Liebgott, Senior Vice President of IBJS, is 
responsible for the day-to-day management of the Reserve Money 
Market Fund and the Core Fixed Income Fund.  He has also been 
responsible for the day-to-day management of the fixed income 
portion of the Blended Total Return Fund since April 1998.  He 
was previously responsible for the day-to-day management of the 
fixed income portion of the Blended Total Return Fund from 
inception to October 1997.  Mr. Liebgott has been with IBJS since 
1988.




IBJ FUNDS TRUST

SUPPLEMENT DATED SEPTEMBER 18, 1998
TO PREMIUM CLASS PROSPECTUS DATED MARCH 30, 1998


	This Supplement is provided to update, and should be read 
in conjunction with, the information provided in the Premium 
Class Prospectus.

	The following information replaces similar information 
found in the Management of the Funds section beginning on page 
17:

	Mr. Paul Blaustein, Senior Vice President of IBJS, is 
responsible for the day-to-day management of the Core Equity 
Fund.  He has held this position since August 1998.  Mr. 
Blaustein has been with IBJS since 1997.  From April 1996 through 
September 1997 he was a Vice President and portfolio manager at 
Desai Capital Management.  Prior to that, Mr. Blaustein was a 
Vice President in the Investment Research Department of Legg 
Mason from October 1994 through April 1996.  From August 1991 
through September 1994, Mr. Blaustein was a Vice President and 
investment analyst at Warburg Pincus Counsellors.  Mr. Blaustein 
was also a portfolio manager and research analyst at Oppenheimer 
Capital from October 1980 through August 1991.

Mr. Christian Kaefer, Senior Vice President of IBJS, is 
responsible for the day-to-day management of the equity portion 
of the Blended Total Return Fund.  He has held this position 
since April 1998.  Mr. Kaefer has been a senior portfolio manager 
at IBJS since 1987.  Mr. Kaefer was previously responsible for 
the day-to-day management of the Core Equity Fund from inception 
to December 1997 and from April 1998 to August 1998 and the 
equity portion of the Blended Total Return Fund from inception 
until October 1997.

	Mr. Martin Liebgott, Senior Vice President of IBJS, is 
responsible for the day-to-day management of the Reserve Money 
Market Fund and the Core Fixed Income Fund.  He has also been 
responsible for the day-to-day management of the fixed income 
portion of the Blended Total Return Fund since April 1998.  He 
was previously responsible for the day-to-day management of the 
fixed income portion of the Blended Total Return Fund from 
inception to October 1997.  Mr. Liebgott has been with IBJS since 
1988.

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