NEW YORK STATE OPPORTUNITY FUNDS
497, 2000-08-01
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                                                                  August 1, 2000

                      THE NEW YORK STATE OPPORTUNITY FUNDS

              Supplement to the Prospectus dated August 1, 2000

     Effective  August 21,  2000,  Ultimus Fund  Solutions,  LLC will assume the
duties as  Administrator,  Fund Accounting  Agent and Transfer Agent for the New
York Equity Fund (the "Fund") from Integrated Fund Services, Inc.

     PRIOR TO AUGUST 21,  2000,  shareholders  should  direct  purchase  orders,
redemption requests and other correspondence to the following address:

                    New York State Opportunity Funds
                    C/o Integrated Fund Services, Inc.
                    P.O. Box 5354
                    Cincinnati, Ohio 45201-5354

     BEGINNING AUGUST 21, 2000,  purchase orders,  redemption requests and other
correspondence  should  be  mailed  to the  Fund at the  following  address,  as
described in the Prospectus:

                    New York State Opportunity Funds
                    C/o Ultimus Fund Solutions, LLC
                    P.O. Box 46707
                    Cincinnati, Ohio 45246

     The  Fund's   toll-free   number   will  not   change.   Continue  to  call
1-888-899-8344 for information or assistance.



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