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J.P. Morgan Series Trust Supplement effective May 22, 2000, to the following Prospectus: J.P. Morgan Institutional Market Neutral Fund, dated October 1, 1999, as revised March 3, 2000 The address of the Shareholder Servicing Agent shown under the heading "Your Investment" is changed. The new address is: Morgan Christiana Center J.P. Morgan Funds Services - 2/OPS3 500 Stanton Christiana Road Newark, DE 19713 1-800-766-7722
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