497 1 ky09st3.txt SUPPLEMENT TO THE PROSPECTUSES CHURCHILL TAX-FREE FUND OF KENTUCKY Supplement to the Prospectuses Dated April 30, 2009 The material under the heading "Information about the Manager" is supplemented by adding the following: Mr. James Thompson serves as backup portfolio manager of the Fund as of October 2009. He is also co-portfolio manager of Tax-Free Fund For Utah and back-up portfolio manager of Tax-Free Trust of Arizona. Mr. Thompson has twenty-four years of experience in the municipal finance industry. Most recently Mr. Thompson served as underwriter and municipal bond trader for Wells Fargo Brokerage Services in Salt Lake City, Utah. The material under the headings "Board of Trustees" and "Officers" on the inside back cover are replaced by the following: Board of Trustees Thomas A. Christopher, Chair David A. Duffy Diana P. Herrmann Theodore T. Mason Anne J. Mills John J. Partridge James R. Ramsey Laureen L. White Officers Diana P. Herrmann, President Maryann Bruce, Senior Vice President Todd W. Curtis, Vice President and Portfolio Manager Jason T. McGrew, Vice President Robert S. Driessen, Chief Compliance Officer Joseph P. DiMaggio, Chief Financial Officer and Treasurer Edward M.W. Hines, Secretary The date of this supplement is January 11, 2010