Supplement Dated October 16, 1998 to the
Prospectus Dated February 14, 1998 of the
NewCap Contrarian Fund
The Board of Trustees of the AmeriPrime Fuunds has determined, in light of
current market conditions and the relatively small size of the NewCap Contrarian
Fund, that the Fund should no longer pursue its investment oblective and instead
should invest 100% of its assets in cash equivalents, money market funds and
investment grade debt securities. These changes in investments and strategy will
be accomplished as soon as practicable and will remain in effect until further
notice. In addition, shares of the Fund are no longer available for purchase,
and the Fund will no longer incur expenses pursuant to its Distribution Plan,
although shares will continue to be redeemable in accordance with the
Prospectus.
This supplement, and the Prospectus dated February 14, 1998, contain information
that you should know before investing in the Fund and should be retained for
future reference. Additional information is included in the Statement of
Additional Information dated February 14, 1998, which has been filed with the
Securities and Exchange Commission and is incorporated herin by reference. It is
available upon request and without charge by calling (440)514-5151.
