July 5, 1995
SUPPLEMENT TO THE PROSPECTUSES FOR
Fund Dated
- ---- -----
PIONEER II January 27, 1995
PIONEER AMERICA INCOME TRUST April 28, 1995
PIONEER BOND FUND October 28, 1994
PIONEER EMERGING MARKETS FUND March 31, 1995
PIONEER EQUITY-INCOME FUND February 24, 1995
PIONEER EUROPE FUND February 28, 1995
PIONEER FUND April 24, 1995
PIONEER GOLD SHARES February 24, 1995
PIONEER GROWTH SHARES April 28, 1995
PIONEER INCOME FUND April 28, 1995
PIONEER INDIA FUND February 28, 1995
PIONEER INTERMEDIATE TAX-FREE FUND April 28, 1995
PIONEER INTERNATIONAL GROWTH FUND March 27, 1995
PIONEER MONEY MARKET TRUST March 31, 1995
PIONEER SHORT-TERM INCOME TRUST March 30, 1995
PIONEER TAX-FREE STATE SERIES TRUST January 27, 1995
PIONEER THREE January 27, 1995
PIONEER WINTHROP REAL ESTATE INVESTMENT FUND April 28, 1995
Each of the captions set forth below is supplemented as follows:
SHAREHOLDER SERVICES
Telephone Transactions and Related Liabilities. Your account is automatically
authorized to have telephone transaction privileges unless you indicated
otherwise on your Account Application or by writing to Pioneering Services
Corporation ("PSC"). You may purchase, sell or exchange Fund shares by
telephone. You are strongly urged to consult with your financial representative
prior to requesting any telephone transaction. For personal assistance, call
1-800-225-6292 between 8:00 a.m. and 8:00 p.m. Eastern time on weekdays.
Computer-assisted transactions may be available to shareholders through
FactFone. To confirm that each transaction instruction received by telephone is
genuine, the Fund will record each telephone transaction, require the caller to
provide the personal identification number ("PIN") for the account and send you
a written confirmation of each telephone transaction. Different procedures may
apply to accounts that are registered to non-U.S. citizens or that are held in
the name of an institution or in the name of an investment broker-dealer or
other third party. If reasonable procedures, such as those described above, are
not followed, the Fund may be liable for any loss due to unauthorized or
fraudulent instructions. The Fund may implement other procedures from time to
time. In all other cases, neither the Fund, PSC or PFD will be responsible for
the authenticity of instructions received by telephone, therefore, you bear the
risk of loss for unauthorized or fraudulent telephone transactions.
During times of economic turmoil or market volatility or as a result of severe
weather or a natural disaster, it may be difficult to contact the Fund by
telephone to institute a redemption or exchange. You should communicate with the
Fund in writing if you are unable to reach the Fund by telephone.
FactFone SM. FactFone is an automated inquiry and telephone transaction system
available to Pioneer shareholders by dialing 1-800-225-4321. FactFone allows you
to obtain current information on your Pioneer
0695-2533
(C) Pioneer Funds Distributor, Inc.
<PAGE>
accounts and to inquire about the prices and yields of all publicly available
Pioneer mutual funds. In addition, you may use FactFone to make
computer-assisted telephone purchases, exchanges and redemptions from your
Pioneer accounts, if you have activated your PIN. Telephone purchases and
redemptions require the establishment of a bank account of record. Shareholders
whose accounts are registered in the name of a broker-dealer or other third
party may not be able to use FactFone. See "How to Buy Fund Shares," "How to
Exchange Fund Shares," "How to Sell Fund Shares" and "Telephone Transactions and
Related Liabilities." Call PSC for assistance.
HOW TO BUY FUND SHARES
Telephone Purchases. Your account is automatically authorized to have the
telephone purchase privilege unless you indicated otherwise on your Account
Application or by writing to PSC. The telephone purchase option may be used to
purchase additional shares for an existing fund account; it may not be used to
establish a new account. Proper account identification will be required for each
telephone purchase. A maximum of $25,000 per account may be purchased by
telephone each day. The telephone purchase privilege is available to IRA
accounts but may not be available to other types of retirement plan accounts.
Call PSC for more information.
Prior to purchasing shares by telephone, you must establish your bank account of
record by completing the appropriate section of your Account Application or an
Account Options Form. Pioneer will electronically debit the amount of each
purchase from this pre-designated bank account. Telephone purchases may not be
made for 30 days after the establishment of your bank of record or any change to
your bank information.
Telephone purchases will be priced at the net asset value plus any applicable
sales charge next determined after PSC's acceptance of a telephone purchase
instruction and receipt of good funds (normally within three days after the
purchase instruction). You may always elect to deliver purchases to PSC by mail.
See "Telephone Transactions and Related Liabilities" for additional information.
HOW TO EXCHANGE FUND SHARES
Telephone Exchanges. Your account is automatically authorized to have the
telephone exchange privilege unless you indicated otherwise on your Account
Application or by writing to PSC. Proper account identification will be required
for each telephone exchange. Telephone exchanges may not exceed $500,000 per
account per day. Each voice-requested or FactFone telephone exchange request
will be recorded. See "Telephone Transactions and Related Liabilities."
HOW TO SELL FUND SHARES
By Telephone or by Fax. Your account is automatically authorized to have the
telephone redemption privilege unless you indicated otherwise on your Account
Application or by writing to PSC. Proper account identification will be required
for each telephone redemption. The telephone redemption option is not available
to retirement plan accounts. A maximum of $50,000 per account per day may be
redeemed by telephone or fax and the proceeds may be received by check or by
bank wire or electronic funds transfer. To receive the proceeds by check: the
check must be made payable exactly as the account is registered and the check
must be sent to the address of record which must not have changed in the last 30
days. To receive the proceeds by bank wire or by electronic funds transfer: the
proceeds must be sent to your bank address of record which must have been
properly pre-designated either on your Account Application or on an Account
Options Form and which must not have changed in the last 30 days. To redeem by
fax, send your redemption request to 1-800-225-4240. You may always elect to
deliver redemption instructions to PSC by mail. See "Telephone Transactions and
Related Liabilities." Telephone redemptions will be priced as described in
"Share Price."
