TAX-FREE TRUST OF OREGON
                          Supplement to the Prospectus
                      For Class A Shares and Class C Shares
                                and the Statement
                            of Additional Information
               Dated January 31, 2004, as Previously Supplemented
                                  March 5, 2004


     Effective July 1, 2004, the Trust will no longer permit purchase of Class A
Shares without sales charge from the proceeds of the redemption of shares in
another investment company.

     The following material in the Prospectus describing such purchases under
the section "Alternative Purchase Plans," beginning on page 16, is deleted
effective July 1, 2004:

     o    Sub-paragraph (iii) under "Sales Charges for Purchases of $1 Million
          or More;" and,

     o    The entire "Certain Investment Companies" sub-section.

     The material in the Statement of Additional Information under the section
entitled "Purchase, Redemption, and Pricing of Shares," beginning on page 36, is
changed as follows effective July 1, 2004:

     o    Subparagraph (iii) under the caption "Sales Charges for Purchases of
          $1 Million or More of Class A Shares" is deleted;

     o    The final paragraph under "Sales Charges for Purchases of $1 Million
          or More of Class A Shares" shall read as follows: "CDSC Class A Shares
          do not include Class A Shares purchased without a sales charge as
          described under "General" below."; and,

     o    The captions entitled "Certain Investment Companies" and "Special
          Dealer Arrangements" are deleted in entirety.


                   The date of this supplement is May 19, 2004