-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 WS3BbapxabcPezVHNM9UWYqxgAIkL5DVIAjKtPXBWGAWjT3wKZfNQSrz0rhW4Pfb
 TLkBgBPu89P5uobz5vj6YQ==

<SEC-DOCUMENT>0000950131-97-001775.txt : 19970317
<SEC-HEADER>0000950131-97-001775.hdr.sgml : 19970317
ACCESSION NUMBER:		0000950131-97-001775
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19970314
SROS:			NONE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HARRIS ASSOCIATES INVESTMENT TRUST
		CENTRAL INDEX KEY:			0000872323
		STANDARD INDUSTRIAL CLASSIFICATION:	 []
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-38953
		FILM NUMBER:		97556294

	BUSINESS ADDRESS:	
		STREET 1:		HARRIS ASSOCIATES LP
		STREET 2:		TWO NORTH LASALLE STREET SUITE 500
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602-3790
		BUSINESS PHONE:		8004769625

	MAIL ADDRESS:	
		STREET 1:		HARRIS ASSOCIATES LP
		STREET 2:		TWO NORTH LASALLE STREET STE 500
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602-3790
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<DESCRIPTION>497(A) - HARRIS ASSOCIATES INVESTMENT TRUST
<TEXT>

<PAGE>
 
                          THE OAKMARK FAMILY OF FUNDS
                          THE OAKMARK SMALL CAP FUND
 
                    SUPPLEMENT TO MARCH 1, 1997 PROSPECTUS
 
IN ORDER TO FACILITATE THE MANAGEMENT OF THE PORTFOLIO OF THE OAKMARK SMALL
CAP FUND, THE BOARD OF TRUSTEES OF THE TRUST HAS AUTHORIZED THE ADVISER TO
TAKE SUCH ACTION AS IT CONSIDERS APPROPRIATE TO RESTRICT THE FLOW OF MONEY
FROM INVESTORS INTO THE FUND AFTER THE ASSETS OF THE FUND REACH APPROXIMATELY
$750 MILLION. AS OF MARCH 11, 1997 THE FUND'S ASSETS TOTALED $664 MILLION.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----