PRAIRIE INSTITUTIONAL FUNDS, 497, 1995-01-26

PRAIRIE INSTITUTIONAL FUNDS
497, 1995-01-26

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FILED PURSUANT TO RULE 497(e)
REGISTRATION FILE NO. 33-56247

                                           January 17, 1995

                  PRAIRIE INSTITUTIONAL FUNDS
                     Supplement to Prospectus
                       Dated November 22, 1994


          The following information supplements and supersedes
any contrary information contained in the Prospectus.

          The Fund's investment adviser and administrator is
First Chicago Investment Management Company ("FCIMCO"), a newly
formed registered, investment adviser and a wholly-owned
subsidiary of The First National Bank of Chicago.  FCIMCO employs
substantially all the investment personnel who previously
provided advisory services to the Fund.