Supplement No. 2 dated November 20, 1995
(Supplanting Supplement No. 1 dated July 17, 1995)
to
Prospectus dated May 1, 1995
for
STATE STREET RESEARCH INVESTMENT TRUST
a series of State Street Research Master Investment Trust
Other Programs
Immediately after the first sentence of the first paragraph under the
caption "Purchase of Shares--Class A Shares--Initial Sales Charges--Other
Programs" at page 12 of the Prospectus, the following is added:
"Sales without a sales charge, or with a reduced sales charge, may also be
made through brokers, financial planners, institutions, and others, under
managed fee-based programs (e.g., "wrap fee" or similar programs) which
meet certain requirements established from time to time by the Distributor,
in the event the Distributor determines to implement such arrangements."
Additional Information
Under the caption "Redemption of Shares--Additional Information" at page 17
of the Prospectus, the first paragraph is revised in its entirety as follows:
"Because of the relatively high cost of maintaining small shareholder
accounts, the Trust reserves the right to involuntarily redeem at its
option any shareholder account which remains below $1,500 for a period of
60 days, after notice is mailed to the applicable shareholder, or to impose
a maintenance fee on such account after 60 days' notice. Such involuntary
redemptions will be subject to applicable sales charges, if any. The Trust
may increase such minimum account value above such amount in the future
after notice to affected shareholders. Involuntarily redeemed shares will
be priced at the net asset value on the date fixed for redemption by the
Trust, and the proceeds of the redemption will be mailed to the affected
shareholder at the address of record. Currently, the maintenance fee is $18
annually, which is paid to the Transfer Agent. The fee does not apply to
certain retirement accounts or if the shareholder has more than an
aggregate $50,000 invested in the Trust and other Eligible Funds combined.
Imposition of a maintenance fee on a small account could, over time,
exhaust the assets of such account."
Management of the Trust
The seventh paragraph under the caption "Management of the Trust" at page
23 of the Prospectus is hereby revised in its entirety to read:
"The Trust is managed by Peter C. Bennett. Mr. Bennett has managed the
Trust since October 1995, and previously managed or co-managed the Trust
from November 1988 through April 1995. His principal occupation currently
is Executive Vice President and Director of State Street Research &
Management Company. Mr. Bennett also serves as Chief Investment
Officer-Equity and is a member of the Management Committee of the
Investment Manager. During the past five years he has also served as Senior
Vice President and Vice President of State Street Research & Management
Company."
