Rule 497(e)
Registration Number 33-94412
TRANS ADVISER FUNDS, INC.
SUPPLEMENT DATED JUNE 20, 1997
TO PROSPECTUS DATED JANUARY 1, 1997
The Adviser's parent, Trans Financial, Inc., has proposed that
Countrywide Investments, Inc. assume management of the assets of the Company's
five mutual funds.
Each of the Company's five mutual funds have adopted, subject to
shareholder approval, an Agreement and Plan of Reorganization (the "Plan") under
which each fund (the "Trans Adviser Fund") will transfer all of its assets and
liabilities to a newly-created corresponding series of a Countrywide Trust (the
"Countrywide Fund") in exchange for shares of the Countrywide Fund. Shareholders
of each Trans Adviser Fund will receive shares of the corresponding Countrywide
Fund equal in value to their shares in the Trans Adviser Fund. Shareholders will
not have to pay a sales load upon receiving shares of the Countrywide Fund.
The corresponding Countrywide Fund will have investment objectives,
policies and restrictions substantially identical to those of the Trans Adviser
Fund. The Boards of Trustees of the Countrywide Funds are comprised of
individuals other than those who currently serve as Directors of the Company.
Countrywide Investments, Inc. is the investment adviser to the Countrywide Funds
and Mastrapasqua & Associates, Inc. will continue as the Growth/Value and
Aggressive Growth Funds' sub-adviser. Countrywide provides distribution, fund
accounting and transfer agency services to the Countrywide Funds through
affiliates.
The Company's Board of Directors determined that the Plan would be in
the best interests of shareholders of the Trans Adviser Funds and recommended
that shareholders of each of the Trans Adviser Funds approve the Plan at a
meeting anticipated to be held in late July, 1997.
Countrywide Investments, Inc. serves as investment adviser to 15 other
mutual funds. Countrywide Investments, Inc. has $858,000 in assets under
management.
Countrywide is a wholly-owned indirect subsidiary of Countrywide Credit
Industries, Inc. ("CCI"). CCI is a New York Stock Exchange listed company
principally engaged in residential mortgage lending. CCI offers a variety of
mortgage products to home buyers, including home equity loans and subprime
credit quality first-lien mortgages. In addition, CCI has a loan servicing
operation which serves over 1.4 million homeowners as well as a variety of
ancillary financial products and services which augment its mortgage lending and
servicing operations. Founded in 1969, CCI is the nation's largest independent
residential mortgage lender and servicer. CCI has more than 5,500 employees and
350 offices across the nation.
