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JOHN HANCOCK INSTITUTIONAL SERIES TRUST -John Hancock Independence Diversified Core Equity Fund II -John Hancock Independence Value Fund -John Hancock Independence Growth Fund -John Hancock Independence Medium Capitalization Fund -John Hancock Independence Balanced Fund Supplement to Prospectus dated July 1, 1996 The "The Funds' Expenses" section is supplemented as follows: Your broker or agent may charge you separately to effect transactions in fund shares. October 28, 1996 K100S 10/96
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