TEMPORARY INVESTMENT FUND INC
497, 1996-05-22
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<PAGE>   1
                              TEMPFUND AND TEMPCASH
                        Investment Portfolios Offered By
                         Temporary Investment Fund, Inc.


                                  Supplement to
                       STATEMENT OF ADDITIONAL INFORMATION
                             Dated January 26, 1996

         The following supplements the information appearing in the Statement of
Additional Information (the "SAI"). Except as otherwise provided herein, all
capitalized terms have the meanings set forth in the SAI.


         From time to time in advertisements, sales literature and
         communications to shareholders, the Funds may compare their total
         returns to rankings prepared by independent services or other financial
         or industry publications that monitor the performance of mutual funds.
         For example, such data is found in IBC/Donoghue's Money Fund Report and
         reports prepared by Lipper Analytical Services, Inc. Total return is
         the change in value of an investment in a Fund over a particular
         period, assuming that all distributions have been reinvested. SUCH
         RANKINGS REPRESENT THE FUNDS' PAST PERFORMANCE AND SHOULD NOT BE
         CONSIDERED AS REPRESENTATIVE OF FUTURE RESULTS.

         Advertisements, sales literature, communications to shareholders and
         other materials may include designations assigned a Fund by various
         rating or ranking organizations, and Fund identifiers (such as CUSIP
         numbers or NASDAQ symbols).

         The following information has been provided by the Funds' distributor:


                  In managing each Fund's portfolio, the investment adviser
                  utilizes a "pure and simple" approach, which may include
                  disciplined research, stringent credit standards and careful
                  management of maturities.


                  The date of this Supplement is May 22, 1996.


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