LIR CASH RESERVES FUND
LIR LIQUID ASSETS FUND
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION DATED DECEMBER 22, 1999
Dear Investor,
The section captioned "Additional Purchase and Redemption Information;
Service Organizations" at page 19 of the Statement of Additional Information is
revised by recaptioning the first paragraph as "Additional Purchase Information"
and adding the following new second paragraph:
Each fund may, subject to approval by the board,
accept securities in which the fund is authorized to
invest as consideration for the issuance of its shares,
provided that the value of the securities is at least
equal to the net asset value of the fund's shares at
the time the transaction occurs. A fund may accept or
reject any such securities in its discretion.
The next paragraph of this section is captioned "Additional Redemption
Information." The original text of this section is otherwise unchanged.
June 30, 2000
