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SUPPLEMENT TO THE PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION
WARBURG PINCUS GLOBAL TELECOMMUNICATIONS FUND
The following information supplements certain information contained in the
Fund's Prospectus and Statement of Additional Information.
New Sub-Investment Adviser. Effective immediately, the Fund has retained Credit
Suisse Asset Management Limited (CSAM U.K.), located at Beaufort House, 15 St.
Botolph Street, London, EX 3A 7JJ, as sub-investment adviser. The sub-investment
advisory agreement with CSAM U.K. was approved by the shareholders of the Fund
at a special meeting held on July 14, 2000. CSAM U.K. is responsible for
assisting Credit Suisse Asset Management, LLC (CSAM) in the management of the
Fund's international assets. CSAM U.K.'s sub-investment advisory fee will be
paid by CSAM out of CSAM's net investment advisory fee and not by the Fund.
Accordingly, no additional investment advisory fees will be paid by
shareholders.
Like CSAM, CSAM U.K. is a member of Credit Suisse Asset Management and a
subsidiary of Credit Suisse Group, one of the world's leading banks, and
currently manages approximately $37 billion in assets. CSAM U.K. is a
diversified asset manager, handling global equity, balanced, fixed income and
derivative securities accounts for other investment companies, corporate pension
and profit-sharing plans, state pension funds, union funds, endowments and other
charitable institutions.
Dated: November 14, 2000 WPEGT-16-1100
