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Rule 497(e)
File No. 33-89506
BERTHEL GROWTH & INCOME TRUST I
a Delaware business Trust
SUPPLEMENT DATED JUNE 4, 1997
TO PROSPECTUS DATED JUNE 21, 1995
The following is added on page 5 of Cumulative Supplement No. 3 to
Prospectus dated June 21, 1995, immediately preceding "B. FEE TABLE AND
EXPENSES SUMMARY - Page 4 of the Prospectus":
The Trust has, for most of its existence, deployed a significant portion
of its funds in a Temporary Investment in the Fidelity Daily Money Market
Money Fund ("Fidelity Fund"). The Staff of the Division of Investment
Management of the Securities and Exchange Commission has indicated to the
Trust and the Trust Advisor its view that investment by the Trust in the
Fidelity Fund, to the extent it exceeded 5% of the Trust's assets, was in
violation of Section 12(d)(1) of the Investment Company Act because,
unlike a certificate of deposit, bank money market account, or similar
investment, the Fidelity Fund is a registered investment company that
charges a management fee. The Trust Advisor has determined to credit to
the Trust against management fees payable in the third quarter of 1997,
the approximate fees and expenses charged by the Fidelity Fund for
management of amounts, in excess of 5% of the assets of the Trust,
invested by the Trust in the Fidelity Fund.
