MUNICIPAL INVESTMENT TR FD INTERM TERM SER 401 DEF ASSET FDS, 497, 1998-12-21

MUNICIPAL INVESTMENT TR FD INTERM TERM SER 401 DEF ASSET FDS
497, 1998-12-21

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          This Supplement is filed pursuant to Rule 497(d) with regard to 
Municipal Investment Trust Fund. Intermediate Term Series 401

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                       SUPPLEMENT DATED DECEMBER 18, 1998
                    TO PROSPECTUS DATED  SEPTEMBER 17, 1998
                       OF MUNICIPAL INVESTMENT TRUST FUND
                         INTERMEDIATE TERM SERIES  401
 
The figures in the Example on page 4 should be revised as follows:
 
If you sell your units at the end of the period:
 
             1 YEAR       3 YEARS       5 YEARS       10 YEARS
              $311          $344          $381          $490
 
If you do not sell your units:
 
             1 YEAR       3 YEARS       5 YEARS       10 YEARS
              $223          $344          $381          $490
 
                                                                    70124--12/98