SUPPLEMENT TO THE SPARTAN MARKET INDEX FUND(registered trademark) JUNE
19, 1998 PROSPECTUS
The following information supplements information found under the
heading "BT and Its Affiliates" in the "Fund in Detail" section
beginning on page 11.
On March 11, 1999, BT announced that it had reached an agreement with
the United States Attorney's Office in the Southern District of New
York to resolve an investigation concerning inappropriate transfers of
unclaimed funds and related record keeping problems that occurred
between 1994 and early 1996. Pursuant to its agreement with the U.S.
Attorney's Office, BT pleaded guilty to misstating entries in the
bank's books and records and agreed to pay a $60 million fine to
federal authorities. Separately, BT agreed to pay a $3.5 million fine
to the State of New York. The events leading up to the guilty plea did
not arise out of the investment advisory or mutual fund management
activities of BT or its affiliates.
As a result of the the plea, absent an order from the SEC, BT would
not be able to continue to provide investment advisory services to the
fund. The SEC has granted a temporary order to permit BT and its
affiliates to continue to provide investment advisory services to
registered investment companies. There is no assurance that the SEC
will grant a permanent order.
