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WARBURG PINCUS TRUST II
FIXED INCOME PORTFOLIO
GLOBAL FIXED INCOME PORTFOLIO
SUPPLEMENT TO THE PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION
DATED APRIL 30, 1998
The following information supersedes certain information in the prospectus
and statement of additional information of the portfolios listed above in the
section entitled "Management of the Portfolios -- Portfolio Managers":
M. Anthony E. van Daalen, formerly Co-Portfolio Manager, is now the sole
Portfolio Manager of the Fixed Income Portfolio and Charles C. Van Vleet,
formerly Co-Portfolio Manager, is now the sole Portfolio Manager of the Global
Fixed Income Portfolio. Dale C. Christensen no longer serves as Co-Portfolio
Manager of these Portfolios.
Dated: December 24, 1998 TRBDF-16-1298