PRAIRIE FUNDS, 497, 1995-01-18

PRAIRIE FUNDS
497, 1995-01-18

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FILED PURSUANT TO RULE 497(e)
REGISTRATION FILE NO. 33-56217

                                           January 17, 1995


                         THE PRAIRIE FUNDS
                     Supplement to Prospectus
                      Dated December 13, 1994



          The Prairie Funds currently are not offering pursuant
to
this Prospectus the following Funds:

          Managed Assets Income Fund
          Intermediate Bond Fund        
          Intermediate Municipal Bond Fund
          Municipal Bond Fund
          Money Market Fund
          Municipal Money Market Fund
          U.S. Government Money Market Fund

          With respect to Prairie Intermediate Bond Fund and
Prairie Municipal Bond Fund, the changes to each such Fund's
management policies as described in the Prospectus under 
"General
Information" have not been implemented.  It is expected that
these
changes will be implemented on or about January 27, 1995.