OAK ASSOCIATES FUNDS (the "Trust")
White Oak Growth Stock Fund
Pin Oak Aggressive Stock Fund
Red Oak Technology Select Fund
(each a "Fund" and collectively, the "Funds")
Supplement dated July 6, 2000, to the
Statement of Additional Information
dated March 1, 2000
This supplement provides new and additional information beyond that contained in
the Statement of Additional Information and should be read in conjunction with
the Statement of Additional Information.
In the Statement of Additional Information on pages S-14 through S-17,
paragraphs 2 through 20 of the section entitled "Trustees and Officers of the
Trust" are deleted and replaced with the following:
The Trustees and Executive Officers of the Trust, their respective dates of
birth, and their principal occupations for the last five years are set forth
below. Each may have held other positions with the named companies during that
period. Unless otherwise noted, the business address of each Trustee and each
Executive Officer is SEI Investments Company, Oaks, Pennsylvania 19456.
JAMES D. OELSCHLAGER (DOB 10/03/42) - Trustee* - Managing Member, President, CIO
and Founder of Oak Associates, ltd. since 1985. Assistant Treasurer and Director
of Investment Management of Firestone Tire and Rubber, 1969-1985.
JOHN G. STIMPSON (DOB 03/17/42) - Trustee** - Retired since 1993. Board of
Directors, Morgan Stanley Trust Company, 1988-1993. Director of International
Equity Sales, and Equity Sales Manager, Salomon Brothers (New York), 1985-1993.
Director London Office, Salomon Brothers International (London, England),
1972-1985. Institutional Equity RR, duPont Glore Forgan, 1968-1972.
J. JOHN CANON (DOB 01/19/35) - Trustee** - Member of Board, Proconex since 1985.
President, and Chairman of the Board, Synergistic Partners, Inc., 1974-1999.
Application, Engineering and Sales, Fisher Controls Company, 1961-1974 and
Carrier Corporation, 1957-1961.
STANFORD N. PHELPS (DOB 06/15/34) - Trustee** - Chairman, Clear Springs Land
Company LLC since 1999. Chairman, S.N. Phelps Realty LLC since 1994. Chairman,
Wyatt Energy, Inc. since 1994. Chairman, Commonwealth Oil Refining Company since
1984. Chairman, Realmark Holdings since 1983. Chairman, S.N. Phelps & Co. since
1986. President & CIO, U.S. Life Advisors and U.S. Life Income Fund, 1972-1974.
Head of Bond Department,
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Drexel, Harriman & Ripley, 1970-1972. Head of Bond Sales, F.S. Smithers & Co.,
1967-1970. Head of Restructuring/Workout, Citibank, N.A., 1960-1966.
WILLIAM E. WHITE (DOB 03/09/65) - President - Mutual Fund Product Manager of Oak
Associates, ltd., the Adviser, since 1997. Account Director, SEI Investments,
1994-1997. Lieutenant, United States Navy, 1987-1994.
ROBERT J. DELLACROCE (DOB 12/17/63) - Controller and Chief Financial Officer -
Director, Funds Administration and Accounting of the Administrator since 1994.
Senior Audit Manager, Arthur Andersen LLP, 1986-1994.
TODD B. CIPPERMAN (DOB 02/14/66) - Vice President and Assistant Secretary -
Senior Vice President and General Counsel of SEI Investments; Senior Vice
President, General Counsel and Secretary of the Administrator and the
Distributor since 2000. Vice President and Assistant Secretary of SEI
Investments, the Administrator and the Distributor, 1995-2000. Associate, Dewey
Ballantine (law firm), 1994-1995. Associate, Winston & Strawn (law firm),
1991-1994.
LYDIA A. GAVALIS (DOB 06/05/64) - Vice President and Assistant Secretary - Vice
President and Assistant Secretary of SEI Investments, the Administrator and the
Distributor since 1998. Assistant General Counsel and Director of Arbitration,
Philadelphia Stock Exchange, 1989-1998.
JAMES R. FOGGO (DOB 06/30/64) - Vice President and Assistant Secretary - Vice
President and Assistant Secretary of SEI Investments since 1998. Vice President
and Assistant Secretary of the Administrator and the Distributor since May 1999.
Associate, Paul Weiss, Rifkind, Wharton & Garrison (law firm), 1998. Associate,
Baker & McKenzie (law firm), 1995-1998. Associate, Battle Fowler L.L.P. (law
firm), 1993-1995. Operations Manager, The Shareholder Services Group, Inc.,
1986-1990.
TIMOTHY D. BARTO (DOB 03/28/68) - Vice President and Assistant Secretary
-Employed by SEI Investments since October 1999. Vice President and Assistant
Secretary of the Administrator and Distributor since December 1999. Associate at
Dechert Price & Rhoads, 1997-1999. Associate at Richter, Miller & Finn,
1994-1997.
RICHARD W. GRANT (DOB 10/25/45) - Assistant Secretary - 1701 Market Street,
Philadelphia, PA 19013. Partner, Morgan Lewis & Bockius LLP (law firm), counsel
to the Trust, SEI Investments, the Administrator and the Distributor.
JOHN H. GRADY, JR. (DOB 06/01/61) - Secretary - 1701 Market Street,
Philadelphia, PA 19103, Partner since 1995, Morgan, Lewis & Bockius LLP (law
firm), counsel to the Trust, SEI Investments, the Administrator and the
Distributor.
JOHN M. FORD (DOB 09/11/69) - Assistant Secretary - 1800 M Street, NW,
Washington, DC 20036, Associate since 1998, Morgan, Lewis & Bockius LLP (law
firm), counsel to the Trust, SEI Investments, the Administrator and the
Distributor.
SANDRA H. NOLL (DOB 02/29/64) - Vice President and Assistant Secretary -
Portfolio Analysis, Compliance Officer, Certified Public Accountant of Oak
Associates, ltd. since 1994. Certified Public Accountant at Lomax, Soful &
Foster, Inc., 1990 to 1994.
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LESLIE MANNA (DOB 03/03/62) - Vice President and Assistant Secretary - Mutual
Fund Coordinator, Oak Associates, ltd. since 1997. Employee of Oak Associates,
ltd., 1995-1997. Office Manager of Saltz, Shamis & Goldfarb, 1992-1995.
HEATHER BERG (DOB 07/31/74) - Vice President and Assistant Secretary - Mutual
Fund Coordinator, Oak Associates, ltd. since 1998. Employee of Oak Associates,
ltd. 1996-1998.
In the Statement of Additional Information on page S-17, paragraphs 6 and 7 will
be replaced with the following:
* Mr. Oelschlager is a Trustee who is an "interested" person of the Fund as
that term is defined in the 1940 Act.
** Messrs. Stimpson, Canon and Phelps serve as members of the Audit Committee of
the Fund.
In the Statement of Additional Information on page S-24, the last two columns of
the Brokerage Commissions chart were inadvertently left blank. The following
information should be added:
% of Total Brokerage % of Total Brokerage
Commissions Paid to Transactions Effected
the Affiliated Through Affiliated
Fund Brokers Brokers
-------------- -------------------- ---------------------
1999 1999
---- -----
White Oak Fund 3.8% 52.6%
Pin Oak Fund 6.8% 71.6%
Red Oak Fund 3.2% 32.7%
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
OAK-A-011-09000
