LEGG MASON CASH RESERVE TRUST
497, 2000-01-03
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Legg Mason Cash Reserve Trust

Supplement to the Prospectus dated December 29, 1999

The first  sentence  under the heading  "Exchange  Privilege"  on page 11 of
the Prospectus is revised to read as follows:

Fund shares may be exchanged  for shares of any of the other Legg Mason funds
or the Bartlett funds,  provided these funds are eligible for sale in
your state of residence.

This Supplement is dated January 3, 2000





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