WNC HOUSING TAX CREDIT FUND V, L.P.,
SERIES 3
[GRAPHIC OMITTED]
Supplement Dated May 31, 1996
To Prospectus Dated July 26, 1995
This Supplement is part of, and should be read in conjunction with, the
Prospectus of WNC Housing Tax Credit Fund V, L.P., Series 3 ("SERIES 3") dated
July 26, 1995 (the "Prospectus"), the Supplement dated March 8, 1996 to the
Prospectus, and the Supplement dated May 7, 1996 to the Prospectus. Capitalized
terms used but not defined in this Supplement have the meanings given to them in
the Prospectus.
PLAN OF DISTRIBUTION
Sale of Units
Enova Financial Corporation, a California corporation which is not an
Affiliate of SERIES 3 or the General Partner, has purchased 4,560 Units, which
represents approximately 30% of the Units outstanding as of the date hereof.
