Supplement Dated Oct. 30, 2003*
                      to the Prospectus Dated May 31, 2003
        of AXP(R) Short Duration U.S. Government Fund S-6042-99 X (7/03)

The following sentence has been added to the first paragraph under the
"Principal Investment Strategies" section of the prospectus:

These mortgage loans include, but are not limited to Government National
Mortgage Association (GNMA or Ginnie Mae) mortgage-backed bonds, which are
backed by the full faith and credit of the United States; and Federal National
Mortgage Association (FNMA or Fannie Mae) and Federal Home Loan Mortgage
Corporation (FHLMC or Freddie Mac) mortgage-backed bonds, which are backed by
the credit of federal agencies or government sponsored entities, although not by
the full faith and credit of the United States.



S-6042-3 A (10/03)

* Valid until May 31, 2004