AMERIPRIME FUNDS
497, 2000-09-18
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                                                              September 18, 2000



                                 WESTCOTT FUNDS

                          Westcott Nothing But Net Fund

                            Supplement to Prospectus
                             Dated December 8, 1999


                             MANAGEMENT OF THE FUNDS

         The  section  titled  "Management  of  the  Funds"  on  page  3 of  the
Prospectus is replaced in its entirety with the following:

                  Aegis  Management,  Inc.,  230 Westcott St., Suite 1, Houston,
         Texas 77007, serves as investment adviser to the Funds. The adviser was
         organized as a Texas  corporation  in 1933.  The adviser  manages large
         capitalization equity, medium capitalization equity, balanced and fixed
         income portfolios for a variety of tax-exempt and taxable clients.  The
         investment  decisions  for each  Fund are  made by a  committee  of the
         adviser,  which is primarily  responsible for the day-to-day management
         of each Fund's portfolio. Each Fund is authorized to pay the adviser an
         annual fee as follows:  Nothing But Net Fund,  1.70%;  Large-Cap  Fund,
         1.00% Fixed Income Fund, 0.75%.



         This  supplement and the Prospectus  dated December 8, 2000 provide the
information a prospective  investor ought to know before investing and should be
retained for future  reference.  A Statement of Additional  Information has been
filed with the Security and Exchange Commission dated December 8, 1999, which is
incorporated  herein by reference and can be obtained  without charge by calling
the Westcott Funds at 1-800-998-6658.





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