FILED PURSUANT TO RULE 497(e)
REGISTRATION FILE NUMBER: 33-56247
September 19, 1995
PRAIRIE INSTITUTIONAL FUNDS
Supplement to Prospectus Dated May 30, 1995
First Chicago Corporation, the ultimate parent of First Chicago
Investment Management Company ("FCIMCO"), the Funds' investment adviser, has
entered into a definitive merger agreement with NBD Bancorp, Inc. ("NBD").
The Merger is expected to be completed in late 1995.
As a result of regulatory requirements, the Trust's Board
approved, subject to shareholder approval, a new investment advisory
agreement with FCIMCO to take effect upon consummation of the Merger. The
aggregate contractual rate chargeable for investment advisory services will
remain the same.
A special meeting of shareholders to consider the new agreement is
scheduled to be held on November 28, 1995. A Proxy Statement with respect
to the new agreement is expected to be mailed in late September 1995 to
shareholders of record as of September 15, 1995.
