<PAGE>
PB SERIES TRUST
(FORMERLY PROVIDIAN SERIES TRUST)
SUPPLEMENT DATED DECEMBER 5, 1997
TO THE
PROSPECTUS DATED MAY 1, 1997
AS SUPPLEMENTED ON JUNE 13, 1997
AND OCTOBER 31, 1997
Capital Preservation Portfolio, Income Oriented Portfolio, Growth and Income
Portfolio, Capital Growth Portfolio, Maximum Appreciation Portfolio and Money
Market Fund
Effective December 1, 1997, the name of Providian Series Trust has been changed
to PB Series Trust. There has been no other change to the Trust.
* * * * *
Effective December 1, 1997, the name of Providian Investment Advisors, Inc. has
been changed to PB Investment Advisors, Inc.
* * * * *
The second paragraph of the description of PB Investment Advisors, Inc. under
the heading "MANAGEMENT" on page 10 is hereby amended to read as follows:
The Adviser is wholly owned by Commonwealth General Corporation, a wholly owned
indirect subsidiary of AEGON International N.V. AEGON International N.V. is a
wholly owned subsidiary of AEGON N.V. Vereniging AEGON (a Netherlands
membership association) has a 53% interest in AEGON N.V.
<PAGE>
PB SERIES TRUST
(FORMERLY PROVIDIAN SERIES TRUST)
SUPPLEMENT DATED DECEMBER 5, 1997
TO THE
PROSPECTUS DATED MAY 1, 1997
AS SUPPLEMENTED ON JUNE 13, 1997
AND OCTOBER 31, 1997
High Quality Stock Fund, Fixed Income Fund,
International Active Fund and Money Market Fund
Effective December 1, 1997, the name of Providian Series Trust has been changed
to PB Series Trust. There has been no other change to the Trust.
* * * * *
Effective December 1, 1997, the name of Providian Investment Advisors, Inc. has
been changed to PB Investment Advisors, Inc.
* * * * *
The second paragraph of the description of PB Investment Advisors, Inc. under
the heading "MANAGEMENT" on page 7 is hereby amended to read as follows:
The Adviser is wholly owned by Commonwealth General Corporation, a wholly owned
indirect subsidiary of AEGON International N.V. AEGON International N.V. is a
wholly owned subsidiary of AEGON N.V. Vereniging AEGON (a Netherlands
membership association) has a 53% interest in AEGON N.V.
<PAGE>
PB SERIES TRUST
(FORMERLY PROVIDIAN SERIES TRUST)
SUPPLEMENT DATED DECEMBER 5, 1997
TO THE
STATEMENT OF ADDITIONAL INFORMATION
DATED OCTOBER 31, 1997
Capital Preservation Portfolio, Income Oriented Portfolio, Growth and Income
Portfolio, Capital Growth Portfolio, Maximum Appreciation Portfolio and Money
Market Fund
Effective December 1, 1997, the name of Providian Series Trust has been changed
to PB Series Trust. There has been no other change to the Trust.
* * * * *
Effective December 1, 1997, the name of Providian Investment Advisors, Inc. has
been changed to PB Investment Advisors, Inc.
* * * * *
The second paragraph of the description of PB Investment Advisors, Inc. under
the heading "MANAGEMENT" on page B-23 is hereby amended to read as follows:
The Adviser is wholly owned by Commonwealth General Corporation, a wholly owned
indirect subsidiary of AEGON International N.V. AEGON International N.V. is a
wholly owned subsidiary of AEGON N.V. Vereniging AEGON (a Netherlands
membership association) has a 53% interest in AEGON N.V.
<PAGE>
PB SERIES TRUST
(FORMERLY PROVIDIAN SERIES TRUST)
SUPPLEMENT DATED DECEMBER 5, 1997
TO THE
STATEMENT OF ADDITIONAL INFORMATION
DATED OCTOBER 31, 1997
High Quality Stock Fund, Fixed Income Fund,
International Active Fund and Money Market Fund
Effective December 1, 1997, the name of Providian Series Trust has been changed
to PB Series Trust. There has been no other change to the Trust.
* * * * *
Effective December 1, 1997, the name of Providian Investment Advisors, Inc. has
been changed to PB Investment Advisors, Inc.
* * * * *
The second paragraph of the description of PB Investment Advisors, Inc. under
the heading "MANAGEMENT" on page B-25 is hereby amended to read as follows:
The Adviser is wholly owned by Commonwealth General Corporation, a wholly owned
indirect subsidiary of AEGON International N.V. AEGON International N.V. is a
wholly owned subsidiary of AEGON N.V. Vereniging AEGON (a Netherlands
membership association) has a 53% interest in AEGON N.V.
