June 14, 1996
     
     SUPPLEMENT TO PROSPECTUS
     OF FIRST INTERSTATE BANCSYSTEM OF MONTANA, INC.,
     DATED MAY 1, 1996
     FIRST INTERSTATE BANCSYSTEM OF MONTANA, INC., (FIBM)
     announced on May 28, 1996, that it signed an agreement
     with Wells Fargo & Company to purchase all of the stock
     of the First Interstate Bank of Montana, N.A., with
     offices in Kalispell, Great Falls and Cut Bank, as well
     as all of the stock of the First Interstate Bank of
     Wyoming, N.A., with offices in Casper, Riverton, and
     Laramie.  The purchase price is $72 million, subject to
     adjustments.  Completion of the acquisition is subject
     to various regulatory approvals and other conditions
     which must be satisfied by each of the parties to the
     agreement.
     FIBM intends to fund the purchase through a combination
     of debt and the issuance of preferred stock.  A total
     of $40 million is expected to be provided through the
     issuance of FIBM preferred stock and unsecured debt,
     with the remaining $32 million funded by a term loan
     secured by stock of FIBM subsidiaries.
     Subject to satisfaction of conditions, closing of the
     acquisitions is scheduled to occur on or before
     December 2, 1996.  With the acquisitions, FIBM's assets
     would total approximately $1.9 billion, as compared to
     FIBM's 1995 year-end assets of $1.3 billion.
     In connection with the proposed acquisitions, FIBM and
     Wells Fargo & Company have entered into a trademark
     license agreement granting FIBM and its subsidiaries an
     exclusive, nontransferable license to use the "First
     Interstate" name and logo in the States of Montana,
     Wyoming, North Dakota, South Dakota and Nebraska.  By
     mutual agreement of the parties, the franchise
     agreement between FIBM and Wells Fargo & Company has
          been terminated.