FILED PURSUANT TO RULE 497(e)
REGISTRATION FILE NO. 33-56247
July 25, 1995
PRAIRIE INSTITUTIONAL FUNDS
Supplement to Prospectus
Dated May 30, 1995
On July 12, 1995, First Chicago Corporation, the parent of
the Fund's investment adviser, First Chicago Investment
Management Company, announced that it had signed a definitive
merger agreement with NBD Bancorp, Inc. NBD Bancorp is a large
Michigan based bank holding company with banks located primarily
in Michigan, Illinois and Indiana. The merger is expected to be
completed in the first quarter of 1996.
As a result of regulatory requirements, certain approvals
related to the Fund will be sought from the Fund's board and
shareholders before completion of the merger. Shareholder
approval will be solicited by a proxy statement.
