MUNICIPAL INVESTMENT TRUST FD INSURED SER 400 DEF ASSET FDS, 497, 1998-12-21

MUNICIPAL INVESTMENT TRUST FD INSURED SER 400 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. Insured Series 400

<PAGE>
                       SUPPLEMENT DATED DECEMBER 18, 1998
                      TO PROSPECTUS DATED  OCTOBER 8, 1998
                       OF MUNCIPAL INVESTMENT TRUST FUND
                              INSURED SERIES  400
 
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
              $323          $352          $383           $476
 
If you do not sell your units:
 
             1 YEAR       3 YEARS       5 YEARS        10 YEARS
              $228          $352          $383           $476
 
                                                                    70138--12/98