February 1, 1999
Supplement to Prospectuses for
Pioneer Independence Plans March 16, 1998 (as revised May 20, 1998) Pioneer
Independence Fund March 16, 1998 (as revised May 20, 1998)
PIONEERING MANAGEMENT CORPORATION
Effective November 2, 1998, Pioneering Management Corporation ("PMC") changed
its name to Pioneer Investment Management, Inc. Wherever "Pioneering Management
Corporation" or "PMC" appears it is replaced by "Pioneer Investment Management,
Inc." or "Pioneer Investments," respectively.
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The following information supplements corresponding section of the Pioneer
Independence Plans Prospectus. Please consult the Prospectus for the full text
of the revised section.
IX. RIGHTS AND PRIVILEGES OF PLANHOLDERS - Changing the Face Amount of Your Plan
For each face amount change, the Creation and Sales Charge already paid on the
existing Plan will be recomputed to reflect the new Plan face amount. The
Creation and Sales Charges already paid on the existing Plan will be credited to
the Creation and Sales Charge applicable to the new face amount. Excess Creation
and Sales Charges under a Plan will be invested directly in Fund shares for the
Planholder at the net asset value as of the day the change occurs. Any
additional Creation and Sales Charges due under a Plan will be assessed against
current Fund shares at the time the change occurs.
XVI.THE SPONSOR
Pioneer Funds Distributor, Inc. is a Massachusetts corporation organized on
March 2, 1989. It is a broker-dealer registered under the Securities Exchange
Act of 1934 and a member of the National Association of Securities Dealers, Inc.
("NASD"). The Sponsor's directors and executive officers are listed below.
Name, Positions and Offices
John F. Cogan, Jr., Chairman and Director
President, Chief Executive Officer and a Director of The Pioneer Group, Inc.
("PGI"); Chairman and a Director of Pioneer Investments and Pioneer Global Funds
Distributor, Ltd. ("PGFD"); Director of Pioneering Services Corporation ("PSC"),
Pioneer Capital Corporation ("PCC"), Pioneer Real Estate Advisors, Inc. (PREA),
Pioneer Forest, Inc., Pioneer Explorer, Inc. ("PEI"), Pioneer Management
(Ireland) Ltd. ("PMIL") and Closed Joint Stock Company "Forest-Starma";
President and Director of Pioneer Metals and Technology, Inc. ("PMT"), Pioneer
International Corp. ("PIntl"), Pioneer First Russia, Inc. ("First Russia") and
Pioneer Omega, Inc. ("Omega"); Chairman of the Board and Director of Pioneer
Goldfields Limited ("PGL") and Teberebie Goldfields Limited; Chairman of the
Supervisory Board of Pioneer Fonds Marketing, GmbH ("Pioneer GmbH"), Pioneer
First Polish Investment Fund Joint Stock Company, S.A. ("PFP") and Pioneer Czech
Investment Company, A.S.; Chairman, President and Trustee of all of the Pioneer
mutual funds; Director of Pioneer Global Equity Fund Plc, Pioneer Global Bond
Fund Plc, Pioneer DM Cashfonds Plc, Pioneer Emerging Europe Fund Plc, Pioneer
European Equity Fund Plc, Pioneer US Real Estate Fund Plc and Pioneer U.S.
Growth Fund Plc (collectively, the "Pioneer Irish Funds"); and Partner, Hale and
Dorr LLP (counsel to the Fund).
David D. Tripple, Director and President
Executive Vice President and a Director of PGI; President and a Director of
Pioneer Investments; Director of PCC, PIC, PIntl, First Russia, Omega, the
Pioneer Irish Funds and Pioneer SBIC Corporation; and Executive Vice President
and Trustee of all of the Pioneer mutual funds.
Stephen W. Long, Director and Executive Vice President
Senior Managing Director - U.S. Mutual Fund Sales of Pioneer Investments.
John A. Boynton, Treasurer
Senior Vice President, Chief Financial Officer and Treasurer of PGI; and
Treasurer of all of the Pioneer mutual funds.
Joseph P. Barri, Clerk
Corporate Secretary of PGI and most of its subsidiaries; Secretary of the
Pioneer mutual funds and Partner, Hale and Dorr LLP (counsel to PGI and the
Fund).
Executive Vice President: Steven Graziano.
Senior Vice Presidents: William A. Misata, Constance D. Spiros and Marcy
Supovitz.
Vice Presidents: Mark Kiniry, Barry G. Knight, William Spencer and Elizabeth A.
Watson.
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The following information supplements corresponding section of the Pioneer
Independence Fund Prospectus. Please consult the Prospectus for the full text of
the revised section.
MANAGEMENT OF THE FUND
Year 2000. Information technology experts are concerned about computer and other
electronic systems' ability to process date-related information on and after
January 1, 2000. This scenario, commonly referred to as the "Year 2000 problem,"
could have an adverse impact the on the Fund and the provision of services to
its shareowners. Pioneer Investments is addressing the Year 2000 problem with
respect to its systems and those used by the distributor and transfer agent.
During 1999, Pioneer Investments expects to finish addressing all material Year
2000 issues and to participate in industry-wide testing. The fund has obtained
assurances from its other service providers that they are taking appropriate
Year 2000 measures and Pioneer Investments is monitoring their efforts. Although
the fund does not expect the Year 2000 problem to adversely impact it, the fund
cannot guarantee that its, or the fund's service providers', efforts will be
successful.
OFFICERS
John A. Boynton, Treasurer
On November 3, 1998, the Trustees of the Funds approved Mr. Boynton as Treasurer
for all the Pioneer mutual funds. Mr. Boynton is the chief financial officer and
treasurer of The Pioneer Group, Inc., Pioneer Investments' parent company. Prior
to joining The Pioneer Group in November 1998, Mr. Boynton was a senior vice
president of The Quaker Oats Company, where he had been part of the senior
management team since 1981. Mr. Boynton is 44.
1198-5837
(C) Pioneer Funds Distributor, Inc.
