<PAGE>
EV CLASSIC GROWTH FUND
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 1995
The tables below indicate the total return (capital changes plus
reinvestment of all distributions) and percentage changes on a hypothetical
investment of $1,000 in the Fund from August 31, 1984 through August 31, 1994.
The tables replace the tables appearing under "Performance Information" in Part
II of the Statement of Additional Information. The total return and percentage
changes are for the period prior to the Fund's commencement of operations on
November 7, 1994 and reflect the Portfolio's total return and percentage changes
(or that of its predecessor) adjusted to reflect any applicable Fund sales
charge. Such performance has not been adjusted to reflect the Fund's
distribution fees and certain other expenses. If such an adjustment were made,
the performance would be lower.
<TABLE>
<CAPTION>
VALUE OF A $1,000 INVESTMENT
Value of Invest- Value of Invest-
ment before de- ment after deduct- Total Return before de- Total Return after de-
ducting the con- ing the contin- ducting the contingent ducting the contingent
tingent deferred gent deferred deferred sales charge deferred sales charge
Investment Investment Amount of sales charge sales charge ----------------------- ----------------------
Period Date Investment on 12/31/94 on 12/31/94 Cumulative Annualized Cumulative Annualized
- ---------- ---------- ---------- ---------------- ----------------- ---------- ---------- ---------- ----------
<C> <C> <C> <C> <C> <C> <C> <C> <C>
10 Years
Ended
8/31/94 8/31/84 $1,000.00 $2,997.89 $2,997.89 199.79% 11.60% 199.79% 11.60%
5 Years
Ended
8/31/94 8/31/89 $1,000.00 $1,377.60 $1,377.60 37.76% 6.62% 37.76% 6.62%
1 Year
Ended
8/31/94* 8/31/93 $1,000.00 $ 994.96 $ 985.12 -0.50% -0.50% -1.49% -1.49%
<PAGE>
<CAPTION>
PERCENTAGE CHANGES - 12/31/85-12/31/94
Net asset value to net asset value Net asset value to net asset value
before deducting the contingent deferred after deducting the contingent deferred
sales charge with all distributions reinvested sales charge with all distributions reinvested
Fiscal Year ---------------------------------------------- ------------------------------------------------
Ended Annual Cumulative Average Annual Annual Cumulative Average Annual
- ----------- ------ ---------- -------------- ------ ---------- --------------
<S> <C> <C> <C> <C> <C> <C>
8/31/85 16.29% 16.29% 16.29% 15.29% 15.29% 15.29%
8/31/86 29.63% 50.75% 22.78% 28.63% 50.75% 22.78%
8/31/87 34.03% 102.05% 26.42% 33.03% 102.05% 26.42%
8/31/88 -18.96% 63.74% 13.11% -19.66% 63.74% 13.11%
8/31/89 32.90% 117.61% 16.81% 31.90% 117.61% 16.81%
8/31/90 -2.65% 111.84% 13.32% -3.56% 111.84% 13.32%
8/31/91 23.24% 161.07% 14.69% 22.24% 161.07% 14.69%
8/31/92 7.23% 179.95% 13.72% 6.23% 179.95% 13.72%
8/31/93* 7.63% 201.31% 13.03% 6.68% 201.31% 13.03%
8/31/94* -0.50% 199.79% 11.60% -1.49% 199.79% 11.60%
Past performance is not indicative of future results. Investment return
and principal value will fluctuate; shares, when redeemed, may be worth more or
less than their original cost.
*If a portion of the Fund's expenses had not been subsidized, the Fund
would have had lower returns.
</TABLE>
August 31, 1995 C-GFSAIS
<PAGE>
EV MARATHON GROWTH FUND
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 1995
The tables below indicate the total return (capital changes plus
reinvestment of all distributions) and percentage changes on a hypothetical
investment of $1,000 in the Fund from August 31, 1984 through August 31, 1994.
The tables replace the tables appearing under "Performance Information" in Part
II of the Statement of Additional Information. The total return and percentage
changes are for the period prior to the Fund's commencement of operations on
September 13, 1994 and reflect the Portfolio's total return and percentage
changes (or that of its predecessor) adjusted to reflect any applicable Fund
sales charge. Such performance has not been adjusted to reflect the Fund's
distribution fees and certain other expenses. If such an adjustment were made,
the performance would be lower.
<TABLE>
<CAPTION>
VALUE OF A $1,000 INVESTMENT
Value of Invest- Value of Invest-
ment before de- ment after deduct- Total Return before de- Total Return after de-
ducting the con- ing the contin- ducting the contingent ducting the contingent
tingent deferred gent deferred deferred sales charge deferred sales charge
Investment Investment Amount of sales charge sales charge ----------------------- ----------------------
Period Date Investment on 12/31/94 on 12/31/94 Cumulative Annualized Cumulative Annualized
- ---------- ---------- ---------- ---------------- ----------------- ---------- ---------- ---------- ----------
<C> <C> <C> <C> <C> <C> <C> <C> <C>
10 Years
Ended
8/31/94 8/31/84 $1,000.00 $2,997.89 $2,997.89 199.79% 11.60% 199.79% 11.60%
5 Years
Ended
8/31/94 8/31/89 $1,000.00 $1,377.60 $1,350.05 37.76% 6.62% 35.00% 6.19%
1 Year
Ended
8/31/94* 8/31/93 $1,000.00 $ 994.96 $ 945.76 -0.50% -0.50% -5.42% -5.42%
<PAGE>
<CAPTION>
PERCENTAGE CHANGES - 12/31/85-12/31/94
Net asset value to net asset value Net asset value to net asset value
before deducting the contingent deferred after deducting the contingent deferred
sales charge with all distributions reinvested sales charge with all distributions reinvested
Fiscal Year ---------------------------------------------- ------------------------------------------------
Ended Annual Cumulative Average Annual Annual Cumulative Average Annual
- ----------- ------ ---------- -------------- ------ ---------- --------------
<S> <C> <C> <C> <C> <C> <C>
8/31/85 16.29% 16.29% 16.29% 11.29% 11.29% 11.29%
8/31/86 29.63% 50.75% 22.78% 24.63% 45.75% 20.73%
8/31/87 34.03% 102.05% 26.42% 29.03% 98.05% 25.58%
8/31/88 -18.96% 63.74% 13.11% -22.44% 61.65% 12.75%
8/31/89 32.90% 117.61% 16.81% 27.90% 115.61% 16.60%
8/31/90 -2.65% 111.84% 13.32% -7.18% 110.94% 13.24%
8/31/91 23.24% 161.07% 14.69% 18.24% 161.07% 14.69%
8/31/92 7.23% 179.95% 13.72% 2.23% 179.95% 13.72%
8/31/93* 7.63% 201.31% 13.03% 2.88% 201.31% 13.03%
8/31/94* -0.50% 199.79% 11.60% -5.42% 199.79% 11.60%
Past performance is not indicative of future results. Investment return
and principal value will fluctuate; shares, when redeemed, may be worth more or
less than their original cost.
*If a portion of the Fund's expenses had not been subsidized, the Fund
would have had lower returns.
</TABLE>
August 31, 1995 M-GFSAIS
