<PAGE> 1
SUPPLEMENT TO THE COMMON CLASS PROSPECTUS
WARBURG PINCUS BALANCED FUND
WARBURG PINCUS VALUE FUND
WARBURG PINCUS CAPITAL APPRECIATION FUND
WARBURG PINCUS HEALTH SCIENCES FUND
The following supersedes contrary information in the section in the funds'
Common Class Prospectus entitled "Other Information -- About the Distributor".
Effective January 3, 2000, Provident Distributors, Inc., located at Four Falls
Corporate Center, West Conshohocken, PA 19428-2961, became the funds'
distributor, and is responsible for making the funds available to you.
Credit Suisse Asset Management Securities, Inc. (CSAMSI) provides certain
shareholder and other services related to the sale of the Common Class for which
it is paid the distribution and service (12b-1) fee described in the Prospectus.
Dated: January 7, 2000 WPUSL-16-0100A
