UNITED STATES SECURITIES AND EXCHANGE COMMISSION


             SECURITIES ACT OF 1933
             Release No.   7617 /  December 10, 1998

             SECURITIES EXCHANGE ACT OF 1934
             Release No.  40772  / December 10, 1998

             INVESTMENT COMPANY ACT OF 1940
             Release No.  23595 / December 10, 1998

             ADMINISTRATIVE PROCEEDING
             File No. 3-9788


             ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS INSTITUTED
             AGAINST MICHAEL P. TRABA

             The Securities and Exchange Commission ("Commission")
             announced that it issued an Order Instituting Public
             Administrative and Cease-And-Desist Proceedings Pursuant to
             Section 8A of the Securities Act of 1933, Sections 15(b) and
             21C of the Securities Exchange Act of 1934, and Sections
             9(b) and 9(f) of the Investment Company Act of 1940
             ("Order") against Michael P. Traba, alleging fraud and other
             violations of the federal securities laws. In 1994, the time
             of the conduct, Traba was an employee of First National Bank
             of Chicago ("First Chicago") and senior portfolio manager of
             two money market mutual funds advised by First Chicago: the
             First Prairie Cash Management Fund and First Prairie Money
             Market Fund.

             The Order alleges that in 1994, Traba carried out a scheme
             to hide significant price declines in several derivative
             securities owned by the money market funds. For several
             months, Traba allegedly valued the derivatives at or near
             their original purchase prices, at a time when their market
             values had declined significantly. By valuing the
             derivatives at inflated prices, Traba disguised the fact
             that on several occasions, the true net asset value of the
             two money market funds fell below $1.00 per share. When
             instructed to sell the derivatives, Traba allegedly arranged
             a shell game by selling the derivatives and other securities
             at inflated prices to trust accounts under his control, thus
             transferring losses from the mutual funds to the trust
             accounts. Through this conduct, Traba allegedly violated
             Section 17(a) of the Securities Act of 1933, Section 10(b)
             of the Securities Exchange Act of 1934 and Rule 10b-5
             thereunder, and Section 34(b) of the Investment Company Act
             of 1940. Traba also allegedly caused and aided and abetted
             violations of Section 31(a) of the Investment Company Act of
             1940 and Rules 22c-1 and 31a-1 thereunder.

             A hearing before an administrative law judge will be
             scheduled to determine whether the allegations in the Order
             are true and, if so, whether a cease-and-desist order should
             be entered and what, if any, other remedial sanctions are
             appropriate in the public interest.