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GT GLOBAL EQUITY FUNDS
SUPPLEMENT TO PROSPECTUS DATED MAY 1, 1997
SUPPLANTING SUPPLEMENT DATED DECEMBER 22, 1997
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THE FOLLOWING REVISES AND SUPERSEDES THE DISCUSSION UNDER "HOW TO INVEST --
PURCHASING CLASS A SHARES -- SALES CHARGE WAIVERS -- CLASS A SHARES" WITH
RESPECT TO EACH FUND:
As of August 1, 1997, the Class A share sales charge waiver described under
section (xiii) is no longer available.
WITH RESPECT TO EACH FUND, SALES CHARGE WAIVERS (VII) AND (XI) DESCRIBED UNDER
"HOW TO INVEST -- PURCHASING CLASS A SHARES -- SALES CHARGE WAIVERS -- CLASS A
SHARES" ARE SUPERSEDED BY THE FOLLOWING WAIVERS:
(vii) Registered investment advisers, trust companies and bank trust departments
exercising DISCRETIONARY investment authority with respect to the money to be
invested in the GT Global Mutual Funds provided that the aggregate amount
invested pursuant to this sales charge waiver is at least $500,000.
(xi) Accounts for which a financial institution or broker/dealer charges an
account management fee, provided the financial institution or broker/dealer has
entered into an agreement with GT Global regarding such accounts.
THE FOLLOWING SUPPLEMENTS THE DISCUSSION UNDER "HOW TO INVEST -- PURCHASING
CLASS B SHARES" WITH RESPECT TO EACH FUND:
Upon redemption, Class B shares of a Fund that were acquired pursuant to the
exchange privilege during a tender offer by GT Global Floating Rate Fund
("Floating Rate Fund") will be subject to a contingent deferred sales charge
equivalent to the early withdrawal charge on the common stock of the Floating
Rate Fund, as set forth in the current prospectus for the Floating Rate Fund.
The purchase of shares of a Fund will be deemed to have occurred at the time of
the initial purchase of the Floating Rate Fund's common stock.
THE FOLLOWING REVISES AND SUPERSEDES, AS APPLICABLE, THE DISCUSSION UNDER
"MANAGEMENT" WITH RESPECT TO GT GLOBAL AMERICA MID CAP GROWTH FUND ("AMERICA MID
CAP FUND"):
Brent W. Clum is the Portfolio Manager for the America Mid Cap Fund. Mr. Clum
has been a Portfolio Manager for Chancellor LGT Asset Management, Inc. (the
"Manager") since 1997. From 1995 to 1997, Mr. Clum was a Senior Equity Research
Analyst for the Manager. Prior thereto, Mr. Clum was a Vice President and
Analyst at T. Rowe Price from 1990 to 1995. Mr. Clum is a Chartered Financial
Analyst and a Certified Public Accountant.
On October 31, 1996, Chancellor Capital Management, Inc. ("Chancellor Capital")
merged with LGT Asset Management, Inc. (San Francisco), and the resulting entity
was renamed Chancellor LGT Asset Management, Inc. Prior to October 31, 1996, Mr.
Clum was an employee only of Chancellor Capital.
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EQUST801M January 20, 1998
