NATIONS FUNDS TRUST

                          Supplement dated May 24, 2002
              to Prospectuses dated August 1, 2001, as supplemented

          The prospectuses for all share classes of Nations International Value
Fund are hereby supplemented by inserting the following information at the end
of the first paragraph under the heading "An overview of the Fund(s)":

     Nations International Value Fund (the "Fund") will no longer accept new
     investments from current or prospective investors (subject to limited
     exceptions) after June 28, 2002 or after the end of the Fund's business day
     on which a threshold of new net investment money has been accepted,
     whichever occurs first (the "Closing Date"). Following the Closing Date,
     shares of the Fund may only be purchased through reinvestment of
     distributions, by certain qualified retirement plans on behalf of plan
     participants and by investors who purchase shares through accounts
     established with certain investment advisers or financial planners,
     including Nations Funds wrap fee accounts. Any investors that currently
     purchase shares of the Fund through the Systematic Investment Plan or the
     Automatic Exchange Feature will no longer be able to purchase shares of the
     Fund after September 30, 2002 and should choose a different Nations Fund to
     purchase or exchange into. Because the Closing Date may be any business day
     up to and including June 28, 2002, current or potential investors should
     check with their Selling Agent or call Nations Funds at 1.800.321.7854
     before attempting to purchase shares. In the event that an order to
     purchase shares is received from a current or potential investor who is not
     eligible to purchase shares, the order will be refused and any money that
     the Fund has received will be returned to the investor or their Selling
     Agent, as appropriate.