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MUNICIPAL FUND FOR NEW YORK INVESTORS, INC.
INVESTORS, INC.
(the "Fund")
New York Money Fund
Supplement dated April 3, 1998
to Prospectus dated December 1, 1997
(1) PNC Institutional Management Corporation ("PIMC"), the Fund's investment
adviser, has changed its name to BlackRock Institutional Management Corporation
("BIMC").
(2) PNC Bank, as sub-adviser of the Fund, provided research, credit analysis and
recommendations with respect to the Fund's investments, and supplied certain
computer facilities, personnel and other services. The facilities, personnel,
services and related expenses have been transferred to BIMC; BIMC has assumed
PNC Bank's responsibilities under the sub-advisory agreement; and BIMC's
obligation to pay a portion of the sub-advisory fee to PNC Bank has been
terminated.
