MEMORIAL FUNDS
Government Money Market Fund
Equity Income Fund
International Equity Fund
Supplement Dated August 17, 1999 to
Prospectus Dated August 17, 1999
Shares of Government Money Market Fund are currently not offered for sale.
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MEMORIAL FUNDS
Government Bond Fund
Corporate Bond Fund
Growth Equity Fund
Value Equity Fund
Institutional Shares
Supplement Dated August 17, 1999 to
Prospectus Dated May 1, 1999
Page 11 of the Prospectus is amended by deleting the third sentence under the
Section "Shareholder Services Plan" and replacing it with the following:
"Memorial Group, Inc. performs certain shareholder services not provided by
Transfer Agent and is paid fees at an annual rate of 0.25 percent of the
average daily net assets of the shares of the Funds owned by investors for
which Memorial Group, Inc. maintains a servicing relationship."
