Securities Act File No. 333-89733
PILGRIM GLOBAL TECHNOLOGY FUND
Supplement dated September 1, 2000
to the Prospectus dated August 11, 2000
ACQUISITION OF RELIASTAR FINANCIAL CORP. BY ING GROEP N.V.
On September 1, 2000, ING Groep N.V. (NYSE: ING) acquired ReliaStar Financial
Corp. (NYSE: RLR), the indirect parent company of Pilgrim Investments, Inc.
("Pilgrim Investments"), Adviser to Pilgrim Global Technology Fund, Inc. (the
"Fund"), and Pilgrim Securities, Inc. ("Pilgrim Securities"), Distributor to the
Fund. ING Group is a global financial institution active in the fields of
insurance, banking, and asset management in more than 65 countries, with almost
100,000 employees.
Pilgrim Investments and Pilgrim Securities are expected to remain intact after
the acquisition. Pilgrim Investments does not currently anticipate that there
will be any changes in the investment personnel primarily responsible for
management of the Fund as a result of the acquisition.
Under the provisions of the advisory contract between the Fund and Pilgrim
Investments, the contract might be deemed to terminate automatically at the time
of the acquisition. As a result, the Board of Directors and the shareholders of
the Fund approved a new advisory contract between the Fund and Pilgrim
Investments, which took effect immediately after the acquisition.
Please be advised of the new address of the Pilgrim Funds, effective
immediately:
ING Pilgrim Funds
7337 E. Doubletree Ranch Road
Scottsdale, Arizona 85258
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
