December 31, 1998
BOWES INVESTMENT TRUST
BANK AND INSURANCE FUND
SUPPLEMENT TO THE
PROSPECTUS AND STATEMENT OF
ADDITIONAL INFORMATION
The Prospectus and Statement of Additional Information dated March 1, 1998 of
the Bowes Bank and Insurance Fund is hereby revised to reflect the following new
information:
1. Transfer Agent and Shareholder Servicing Agent. The Fund has retained
Declaration Service Company ("Declaration"), 555 North Lane, Suite
6160, Conshohocken, Pennsylvania 19428-0844 as its new transfer agent
and shareholder servicing agent. Declaration will replace Countrywide
Fund Services, Inc. ("CFS") in these capacities effective January 1,
1999. Shareholder purchases and redemptions, inquiries, and
correspondence with the Fund should be addressed as follows:
Bowes Bank and Insurance Fund
c/o Declaration Service Co.
P.O. Box 844 (regular mail)
555 North Lane, Suite 6160 (overnight & express)
Conshohocken, PA 19428-0844
1-888-828-9973
2. Fund Accounting. Effective January 1, 1999, Declaration will replace
CFS as daily fund accountant.
3. Administrator. Effective January 1, 1999, Bowes Funds, LLC, will
replace CFS as fund administrator.
4. Distributor. Effective January 1, 1999, an affiliate of Declaration,
Declaration Distributors, Inc. ("Distributor") will replace CW Fund
Distributors, Inc. as the Fund's primary underwriter. Distributor is a
member of the National Association of Securities Dealers, Inc. ("NASD")
and a brokerage member of National Securities Clearing Corporation
("NSCC"). The address of Distributor is the same as that of
Declaration.
5. Independent Accountants. Effective January 1, 1999, Briggs Bunting &
Dougherty, LLP, Two Logan Square, Suite 2121, Philadelphia,
Pennsylvania 19103-4901 will replace Arthur Andersen LLP as the Fund's
independent accountants.
6. Address and Telephone Number of Adviser. The Fund's adviser is located
at 9410 Fernwood Road, Bethesda, Maryland 20817; telephone number
301-469-6195.
7. Trustee. Mr. Harry M.K. Johnston is no longer a Trustee of the Fund.
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