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Supplement to the
Mitchell Hutchins LIR Select Money Fund
Prospectus dated July 31, 1998
January 15, 1999
Dear Investor,
Mitchell Hutchins Asset Management Inc. has agreed to waive 9 basis
points of its 18 basis point management fee from January 19, 1999 through
April 30, 1999. Until that date, management fees will be 9 basis points (0.09%).
As a result, "Total Operating Expenses" noted on page 4 of the prospectus will
be reduced to 9 basis points (0.09%) for Institutional shares and to 34 basis
points (0.34%) for Financial Intermediary shares through that date.
