<PAGE>
EATON VANCE
SPECIAL INVESTMENT TRUST
EV CLASSIC INVESTORS FUND
SUPPLEMENT TO PROSPECTUS DATED JUNE 1, 1995
1. Effective August 1, 1995, EV Classic Investors Fund was reorganized and
became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Investors Trust,
which was also a Massachusetts business trust. Except for the fact that the
Fund is now a series of Eaton Vance Special Investment Trust, shares of the
Fund represent the same interest in the Fund's assets, are of the same class,
are subject to the same terms and conditions, fees and expenses and confer the
same rights as when the Fund was a series of Eaton Vance Investors Trust.
2. THE FOLLOWING IS ADDED TO THE FIRST PARAGRAPH UNDER "PERFORMANCE
INFORMATION":
The Fund may quote total return for the period prior to the Fund's
commencement of operations which would reflect the Portfolio's total return
(and that of its predecessor) adjusted to reflect any applicable Fund sales
charge.
THE DATE OF THE ATTACHED PROSPECTUS IS CHANGED TO AUGUST 1, 1995. ALL
REFERENCES IN THE PROSPECTUS TO EATON VANCE INVESTORS TRUST OR THE TRUST ARE
DEFINED TO MEAN EATON VANCE SPECIAL INVESTMENT TRUST.
August 1, 1995 C-IFPS
<PAGE>
EATON VANCE SPECIAL INVESTMENT TRUST
EV CLASSIC INVESTORS FUND
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION DATED JUNE 1, 1995
Effective August 1, 1995, EV Classic Investors Fund was reorganized and
became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Investors Trust, which
was also a Massachusetts business trust. Except for the fact that the Fund is
now a series of Eaton Vance Special Investment Trust, shares of the Fund
represent the same interest in the Fund's assets, are of the same class, are
subject to the same terms and conditions, fees and expenses and confer the same
rights as when the Fund was a series of Eaton Vance Investors Trust.
THE DATE OF THE ATTACHED STATEMENT OF ADDITIONAL INFORMATION IS CHANGED
TO AUGUST 1, 1995. ALL REFERENCES IN THE STATEMENT OF ADDITIONAL INFORMATION TO
EATON VANCE INVESTORS TRUST OR THE TRUST ARE DEFINED TO MEAN EATON VANCE SPECIAL
INVESTMENT TRUST.
The tables below indicate the total return (capital changes plus
reinvestment of all distributions) and percentage changes on a hypothetical
investment of $1,000 in the Fund from January 31, 1986 through January 31, 1995.
The tables replace the tables appearing under "Performance Information" in Part
II of the Statement of Additional Information. The total return and percentage
changes for the period prior to the Fund's commencement of operations on
November 2, 1993 reflect the Portfolio's total return and percentage changes (or
that of its predecessor) adjusted to reflect any applicable Fund sales charge.
Such performance has not been adjusted to reflect the Fund's distribution fees
and certain other expenses. If such an adjustment were made, the performance
would be lower.
<TABLE>
<CAPTION>
VALUE OF A $1,000 INVESTMENT
Value of Value of
investment investment
before after
deducting deducting the Total return before Total return after
the contingent contingent deducting the contingent deducting the contingent
deferred deferred deferred sales charge deferred sales charge
Investment Investment Amount of sales charge sales charge ------------------------ ------------------------
Period Date Investment on 1/31/95 on 1/31/95 Cumulative Annualized Cumulative Annualized
---------- ---------- ---------- -------------- ------------- ---------- ---------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
10 Years
Ended
1/31/95 1/31/85 $1,000.00 $2,633.10 $2,633.10 163.31% 10.17% 163.31% 10.17%
5 Years
Ended
1/31/95 1/31/90 $1,000.00 $1,502.10 $1,502.10 50.21% 8.48% 50.21% 8.48%
1 Year
Ended
1/31/95* 1/31/94 $1,000.00 $ 942.90 $ 933.70 -5.71% -5.71% -6.63% -6.63%
<PAGE>
<CAPTION>
PERCENTAGE CHANGES -- 1/31/86-1/31/95
Net asset value to net asset value Net asset value to net asset value
before deducting the contingent deferred after deducting the contingent deferred
sales charge with all distributions reinvested sales charge with all distributions reinvested
---------------------------------------------- ----------------------------------------------
Fiscal Year Ended Annual Cumulative Average Annual Annual Cumulative Average Annual
----------------- ------ ---------- -------------- ------ ---------- --------------
<S> <C> <C> <C> <C> <C> <C>
1/31/86 19.09% 19.09% 0.20% 18.09% 18.09% 0.19%
1/31/87 18.17% 40.73% 0.39% 17.24% 40.73% 0.39%
1/31/88 -0.39% 40.18% 0.38% -1.23% 40.18% 0.38%
1/31/89 13.40% 58.96% 0.52% 12.40% 58.96% 0.52%
1/31/90 10.27% 75.29% 0.62% 9.29% 75.29% 0.62%
1/31/91 7.78% 88.93% 0.70% 6.80% 88.93% 0.70%
1/31/92 16.26% 119.65% 0.86% 15.26% 119.65% 0.86%
1/31/93 9.30% 140.07% 0.94% 8.31% 140.07% 0.94%
1/31/94* 16.32% 179.25% 1.10% 15.32% 179.25% 1.10%
1/31/95* -5.71% 163.31% 1.02% -6.63% 163.31% 1.02%
Past performance is not indicative of future results. Investment return and principal value will fluctuate; shares, when
redeemed, may be worth more or less than their original cost.
* If a portion of the Fund's expenses had not been subsidized, the Fund would have had lower returns.
</TABLE>
August 1, 1995 C-IFSAIS
<PAGE>
EATON VANCE
SPECIAL INVESTMENT TRUST
EV MARATHON INVESTORS FUND
SUPPLEMENT TO PROSPECTUS DATED JUNE 1, 1995
1. Effective August 1, 1995, EV Marathon Investors Fund was reorganized and
became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Investors Trust,
which was also a Massachusetts business trust. Except for the fact that the
Fund is now a series of Eaton Vance Special Investment Trust, shares of the
Fund represent the same interest in the Fund's assets, are of the same class,
are subject to the same terms and conditions, fees and expenses and confer the
same rights as when the Fund was a series of Eaton Vance Investors Trust.
2. THE FOLLOWING IS ADDED TO THE FIRST PARAGRAPH UNDER "PERFORMANCE
INFORMATION":
The Fund may quote total return for the period prior to the Fund's
commencement of operations which would reflect the Portfolio's total return
(and that of its predecessor) adjusted to reflect any applicable Fund sales
charge.
THE DATE OF THE ATTACHED PROSPECTUS IS CHANGED TO AUGUST 1, 1995. ALL
REFERENCES IN THE PROSPECTUS TO EATON VANCE INVESTORS TRUST OR THE TRUST ARE
DEFINED TO MEAN EATON VANCE SPECIAL INVESTMENT TRUST.
August 1, 1995 M-IFPS
<PAGE>
EATON VANCE SPECIAL INVESTMENT TRUST
EV MARATHON INVESTORS FUND
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION DATED JUNE 1, 1995
Effective August 1, 1995, EV Marathon Investors Fund was reorganized
and became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Investors Trust, which
was also a Massachusetts business trust. Except for the fact that the Fund is
now a series of Eaton Vance Special Investment Trust, shares of the Fund
represent the same interest in the Fund's assets, are of the same class, are
subject to the same terms and conditions, fees and expenses and confer the same
rights as when the Fund was a series of Eaton Vance Investors Trust.
THE DATE OF THE ATTACHED STATEMENT OF ADDITIONAL INFORMATION IS CHANGED
TO AUGUST 1, 1995. ALL REFERENCES IN THE STATEMENT OF ADDITIONAL INFORMATION TO
EATON VANCE INVESTORS TRUST OR THE TRUST ARE DEFINED TO MEAN EATON VANCE SPECIAL
INVESTMENT TRUST.
The tables below indicate the total return (capital changes plus
reinvestment of all distributions) and percentage changes on a hypothetical
investment of $1,000 in the Fund from January 31, 1986 through January 31, 1995.
The tables replace the tables appearing under "Performance Information" in Part
II of the Statement of Additional Information. The total return and percentage
changes for the period prior to the Fund's commencement of operations on
November 2, 1993 reflect the Portfolio's total return and percentage changes (or
that of its predecessor) adjusted to reflect any applicable Fund sales charge.
Such performance has not been adjusted to reflect the Fund's distribution fees
and certain other expenses. If such an adjustment were made, the performance
would be lower.
<TABLE>
<CAPTION>
VALUE OF A $1,000 INVESTMENT
Value of Value of
investment investment
before after
deducting deducting the Total return before Total return after
the contingent contingent deducting the contingent deducting the contingent
deferred deferred deferred sales charge deferred sales charge
Investment Investment Amount of sales charge sales charge ------------------------ ------------------------
Period Date Investment on 1/31/95 on 1/31/95 Cumulative Annualized Cumulative Annualized
---------- ---------- ---------- -------------- ------------- ---------- ---------- ----------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
10 Years Ended
1/31/95 1/31/85 $1,000.00 $2,622.90 $2,622.90 162.29% 10.12% 162.29% 10.12%
5 Years Ended
1/31/95 1/31/90 $1,000.00 $1,496.30 $1,476.30 49.63% 8.39% 47.63% 8.10%
1 Year Ended
1/31/95* 1/31/94 $1,000.00 $ 942.90 $ 933.70 -5.44% -5.44% -10.03% -10.03%
<PAGE>
<CAPTION>
PERCENTAGE CHANGES - 1/31/86-1/31/95
Net asset value to net asset value Net asset value to net asset value
before deducting the contingent deferred after deducting the contingent deferred
sales charge with all distributions reinvested sales charge with all distributions reinvested
---------------------------------------------- ----------------------------------------------
Fiscal Year Ended Annual Cumulative Average Annual Annual Cumulative Average Annual
----------------- ------ ---------- -------------- ------ ---------- --------------
<S> <C> <C> <C> <C> <C> <C>
1/31/86 19.09% 19.09% 0.20% 18.09% 18.09% 0.19%
1/31/87 18.17% 40.73% 0.39% 17.24% 40.73% 0.39%
1/31/88 -0.39% 40.18% 0.38% -1.23% 40.18% 0.38%
1/31/89 13.40% 58.96% 0.52% 12.40% 58.96% 0.52%
1/31/90 10.27% 75.29% 0.62% 9.29% 75.29% 0.62%
1/31/91 7.78% 88.93% 0.70% 6.80% 88.93% 0.70%
1/31/92 16.26% 119.65% 0.86% 15.26% 119.65% 0.86%
1/31/93 9.30% 140.07% 0.94% 8.31% 140.07% 0.94%
1/31/94* 15.54% 177.38% 12.00% 10.54% 177.38% 12.00%
1/31/95* -5.44% 162.29% 10.12% -10.03% 162.29% 10.12%
Past performance is not indicative of future results. Investment
return and principal value will fluctuate; shares, when redeemed, may be worth
more or less than their original cost.
*If a portion of the Fund's expenses had not been subsidized, the Fund
would have had lower returns.
</TABLE>
August 1, 1995 M-IFSAIS
<PAGE>
EATON VANCE SPECIAL INVESTMENT TRUST
EV TRADITIONAL INVESTORS FUND
SUPPLEMENT TO PROSPECTUS DATED JUNE 1, 1995
Effective August 1, 1995, EV Traditional Investors Fund was reorganized
and became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Investors Trust, which
was also a Massachusetts business trust. Except for the fact that the Fund is
now a series of Eaton Vance Special Investment Trust, shares of the Fund
represent the same interest in the Fund's assets, are of the same class, are
subject to the same terms and conditions, fees and expenses and confer the same
rights as when the Fund was a series of Eaton Vance Investors Trust.
THE DATE OF THE ATTACHED PROSPECTUS IS CHANGED TO AUGUST 1, 1995. ALL
REFERENCES IN THE PROSPECTUS TO EATON VANCE INVESTORS TRUST OR THE TRUST ARE
DEFINED TO MEAN EATON VANCE SPECIAL INVESTMENT TRUST.
August 1, 1995
<PAGE>
EATON VANCE SPECIAL INVESTMENT TRUST
EV TRADITIONAL INVESTORS FUND
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION DATED JUNE 1, 1995
Effective August 1, 1995, EV Traditional Investors Fund was reorganized
and became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Investors Trust, which
was also a Massachusetts business trust. Except for the fact that the Fund is
now a series of Eaton Vance Special Investment Trust, shares of the Fund
represent the same interest in the Fund's assets, are of the same class, are
subject to the same terms and conditions, fees and expenses and confer the same
rights as when the Fund was a series of Eaton Vance Investors Trust.
THE DATE OF THE ATTACHED STATEMENT OF ADDITIONAL INFORMATION IS CHANGED
TO AUGUST 1, 1995. ALL REFERENCES IN THE STATEMENT OF ADDITIONAL INFORMATION TO
EATON VANCE INVESTORS TRUST OR THE TRUST ARE DEFINED TO MEAN EATON VANCE SPECIAL
INVESTMENT TRUST.
August 1, 1995
T-IFSAIS
<PAGE>
EATON VANCE
SPECIAL INVESTMENT TRUST
EV CLASSIC STOCK FUND
SUPPLEMENT TO PROSPECTUS DATED APRIL 1, 1995
1. Effective August 1, 1995, EV Classic Stock Fund was reorganized and became
a series of Eaton Vance Special Investment Trust, a business trust organized
under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Securities Trust,
which was also a Massachusetts business trust. Except for the fact that the
Fund is now a series of Eaton Vance Special Investment Trust, shares of the
Fund represent the same interest in the Fund's assets, are of the same class,
are subject to the same terms and conditions, fees and expenses and confer the
same rights as when the Fund was a series of Eaton Vance Securities Trust.
2. THE FOLLOWING IS ADDED TO THE FIRST PARAGRAPH UNDER "PERFORMANCE
INFORMATION":
The Fund may quote total return for the period prior to the Fund's
commencement of operations which would reflect the Portfolio's total return
(and that of its predecessor) adjusted to reflect any applicable Fund sales
charge.
3. THE FOLLOWING PARAGRAPH REPLACES THE PARAGRAPH UNDER THE CAPTION "EATON
VANCE SHAREHOLDER SERVICES -- REINVESTMENT PRIVILEGE":
REINVESTMENT PRIVILEGE: A SHAREHOLDER WHO HAS REPURCHASED OR REDEEMED
SHARES MAY REINVEST, WITH CREDIT FOR ANY CONTINGENT DEFERRED SALES CHARGES
PAID ON THE REPURCHASED OR REDEEMED SHARES, ANY PORTION OR ALL OF THE
REPURCHASE OR REDEMPTION PROCEEDS (PLUS THAT AMOUNT NECESSARY TO ACQUIRE A
FRACTIONAL SHARE TO ROUND OFF THE PURCHASE TO THE NEAREST FULL SHARE) IN
SHARES OF THE FUND, provided that the reinvestment is effected within 60
days after such repurchase or redemption, and the privilege has not been
used more than once in the prior 12 months. Shares are sold to a reinvesting
shareholder at the next determined net asset value following timely receipt
of a written purchase order by the Principal Underwriter or by the Fund (or
by the Fund's Transfer Agent). To the extent that any shares of the Fund are
sold at a loss and the proceeds are reinvested in shares of the Fund (or
other shares of the Fund are acquired within the period beginning 30 days
before and ending 30 days after the date of the redemption), some or all of
the loss generally will not be allowed as a tax deduction. Shareholders
should consult their tax advisers concerning the tax consequences of
reinvestments.
THE DATE OF THE ATTACHED PROSPECTUS IS CHANGED TO AUGUST 1, 1995. ALL
REFERENCES IN THE PROSPECTUS TO EATON VANCE SECURITIES TRUST OR THE TRUST ARE
DEFINED TO MEAN EATON VANCE SPECIAL INVESTMENT TRUST.
August 1, 1995 C-STPS
<PAGE>
EATON VANCE SPECIAL INVESTMENT TRUST
EV CLASSIC STOCK FUND
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 1, 1995
Effective August 1, 1995, EV Classic Stock Fund was reorganized and
became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Securities Trust,
which was also a Massachusetts business trust. Except for the fact that the Fund
is now a series of Eaton Vance Special Investment Trust, shares of the Fund
represent the same interest in the Fund's assets, are of the same class, are
subject to the same terms and conditions, fees and expenses and confer the same
rights as when the Fund was a series of Eaton Vance Securities Trust.
THE DATE OF THE ATTACHED STATEMENT OF ADDITIONAL INFORMATION IS CHANGED
TO AUGUST 1, 1995. ALL REFERENCES IN THE STATEMENT OF ADDITIONAL INFORMATION TO
EATON VANCE SECURITIES TRUST OR THE TRUST ARE DEFINED TO MEAN EATON VANCE
SPECIAL INVESTMENT TRUST.
The tables below indicate the total return (capital changes plus
reinvestment of all distributions) and percentage changes on a hypothetical
investment of $1,000 in the Fund from December 31, 1985 through December 31,
1994. The tables replace the tables appearing under "Performance Information" in
Part II of the Statement of Additional Information. The total return and
percentage changes for the period prior to the Fund's commencement of operations
on November 4, 1994 reflect the Portfolio's total return and percentage changes
(or that of its predecessor) adjusted to reflect any applicable Fund sales
charge. Such performance has not been adjusted to reflect the Fund's
distribution fees and certain other expenses. If such an adjustment were made,
the performance would be lower.
<TABLE>
<CAPTION>
VALUE OF A $1,000 INVESTMENT
Value of Value of
investment investment
before after
deducting deducting the Total return before Total return after
the contingent contingent deducting the contingent deducting the contingent
deferred deferred deferred sales charge deferred sales charge
Investment Investment Amount of sales charge sales charge ------------------------ ------------------------
Period Date Investment on 12/31/94 on 12/31/94 Cumulative Annualized Cumulative Annualized
---------- ---------- ---------- -------------- ------------- ---------- ----------- ---------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
10 Years
Ended
12/31/94 12/31/84 $1,000.00 $3,057.50 $3,057.50 205.75% 11.82% 205.75% 11.82%
5 Years
Ended
12/31/94 12/31/89 $1,000.00 $1,324.50 $1,324.50 32.45% 5.78% 32.45% 5.78%
1 Year
Ended
12/31/94* 12/31/93 $1,000.00 $ 973.10 $ 965.26 -2.69% -2.69% -3.48% -3.48%
<PAGE>
<CAPTION>
PERCENTAGE CHANGES -- 12/31/85-12/31/94
Net asset value to net asset value Net asset value to net asset value
before deducting the contingent deferred after deducting the contingent deferred
sales charge with all distributions reinvested sales charge with all distributions reinvested
---------------------------------------------- ----------------------------------------------
Fiscal Year Ended Annual Cumulative Average Annual Annual Cumulative Average Annual
----------------- ------ ---------- -------------- ------ ---------- --------------
<C> <C> <C> <C> <C> <C> <C>
12/31/85 32.26% 32.26% 32.26% 31.26% 31.26% 31.26%
12/31/86 15.43% 52.66% 23.56% 14.51% 52.66% 23.56%
12/31/87 1.99% 55.70% 15.90% 1.09% 55.70% 15.90%
12/31/88 15.01% 79.07% 15.67% 14.01% 79.07% 15.67%
12/31/89 28.92% 130.87% 18.20% 27.92% 130.87% 18.20%
12/31/90 0.59% 132.22% 15.07% -0.30% 132.22% 15.07%
12/31/91 21.45% 182.04% 15.96% 20.45% 182.04% 15.96%
12/31/92 6.93% 201.58% 14.78% 5.97% 201.58% 14.78%
12/31/93 4.19% 214.21% 13.56% 3.26% 214.21% 13.56%
12/31/94* -2.69% 205.75% 11.82% -3.48% 205.75% 11.82%
Past performance is not indicative of future results. Investment return and principal value will fluctuate; shares, when
redeemed, may be worth more or less than their original cost.
* If a portion of the Fund's expenses had not been subsidized, the Fund would have had lower returns.
</TABLE>
August 1, 1995 C-STSAIS
<PAGE>
EATON VANCE
SPECIAL INVESTMENT TRUST
EV MARATHON STOCK FUND
SUPPLEMENT TO PROSPECTUS DATED APRIL 1, 1995
1. Effective August 1, 1995, EV Marathon Stock Fund was reorganized and became
a series of Eaton Vance Special Investment Trust, a business trust organized
under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Securities Trust,
which was also a Massachusetts business trust. Except for the fact that the
Fund is now a series of Eaton Vance Special Investment Trust, shares of the
Fund represent the same interest in the Fund's assets, are of the same class,
are subject to the same terms and conditions, fees and expenses and confer the
same rights as when the Fund was a series of Eaton Vance Securities Trust.
2. THE FOLLOWING IS ADDED TO THE FIRST PARAGRAPH UNDER "PERFORMANCE
INFORMATION":
The Fund may quote total return for the period prior to the Fund's
commencement of operations which would reflect the Portfolio's total return
(and that of its predecessor) adjusted to reflect any applicable Fund sales
charge.
3. THE FOLLOWING PARAGRAPH REPLACES THE PARAGRAPH UNDER THE CAPTION "EATON
VANCE SHAREHOLDER SERVICES -- REINVESTMENT PRIVILEGE":
REINVESTMENT PRIVILEGE: A SHAREHOLDER WHO HAS REPURCHASED OR REDEEMED
SHARES MAY REINVEST, WITH CREDIT FOR ANY CONTINGENT DEFERRED SALES CHARGES
PAID ON THE REPURCHASED OR REDEEMED SHARES, ANY PORTION OR ALL OF THE
REPURCHASE OR REDEMPTION PROCEEDS (PLUS THAT AMOUNT NECESSARY TO ACQUIRE A
FRACTIONAL SHARE TO ROUND OFF THE PURCHASE TO THE NEAREST FULL SHARE) IN
SHARES OF THE FUND, provided that the reinvestment is effected within 60
days after such repurchase or redemption, and the privilege has not been
used more than once in the prior 12 months. Shares are sold to a reinvesting
shareholder at the next determined net asset value following timely receipt
of a written purchase order by the Principal Underwriter or by the Fund (or
by the Fund's Transfer Agent). To the extent that any shares of the Fund are
sold at a loss and the proceeds are reinvested in shares of the Fund (or
other shares of the Fund are acquired within the period beginning 30 days
before and ending 30 days after the date of the redemption), some or all of
the loss generally will not be allowed as a tax deduction. Shareholders
should consult their tax advisers concerning the tax consequences of
reinvestments.
THE DATE OF THE ATTACHED PROSPECTUS IS CHANGED TO AUGUST 1, 1995. ALL
REFERENCES IN THE PROSPECTUS TO EATON VANCE SECURITIES TRUST OR THE TRUST ARE
DEFINED TO MEAN EATON VANCE SPECIAL INVESTMENT TRUST.
August 1, 1995 M-STPS
<PAGE>
EATON VANCE SPECIAL INVESTMENT TRUST
EV MARATHON STOCK FUND
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 1, 1995
Effective August 1, 1995, EV Marathon Stock Fund was reorganized and
became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Securities Trust,
which was also a Massachusetts business trust. Except for the fact that the Fund
is now a series of Eaton Vance Special Investment Trust, shares of the Fund
represent the same interest in the Fund's assets, are of the same class, are
subject to the same terms and conditions, fees and expenses and confer the same
rights as when the Fund was a series of Eaton Vance Securities Trust.
THE DATE OF THE ATTACHED STATEMENT OF ADDITIONAL INFORMATION IS CHANGED
TO AUGUST 1, 1995. ALL REFERENCES IN THE STATEMENT OF ADDITIONAL INFORMATION TO
EATON VANCE SECURITIES TRUST OR THE TRUST ARE DEFINED TO MEAN EATON VANCE
SPECIAL INVESTMENT TRUST.
The tables below indicate the total return (capital changes plus
reinvestment of all distributions) and percentage changes on a hypothetical
investment of $1,000 in the Fund from December 31, 1985 through December 31,
1994. The tables replace the tables appearing under "Performance Information" in
Part II of the Statement of Additional Information. The total return and
percentage changes for the period prior to the Fund's commencement of operations
on November 1, 1993 reflect the Portfolio's total return and percentage changes
(or that of its predecessor) adjusted to reflect any applicable Fund sales
charge. Such performance has not been adjusted to reflect the Fund's
distribution fees and certain other expenses. If such an adjustment were made,
the performance would be lower.
<TABLE>
<CAPTION>
VALUE OF A $1,000 INVESTMENT
Value of Value of
investment investment
before after
deducting deducting the Total return before Total return after
the contingent contingent deducting the contingent deducting the contingent
deferred deferred deferred sales charge deferred sales charge
Investment Investment Amount of sales charge sales charge ------------------------ ------------------------
Period Date Investment on 12/31/94 on 12/31/94 Cumulative Annualized Cumulative Annualized
---------- ---------- ---------- -------------- ------------- ---------- ----------- ---------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
10 Years
Ended
12/31/94 12/31/84 $1,000.00 $3,038.80 $3,038.80 203.88% 11.76% 203.88% 11.76%
5 Years
Ended
12/31/94 12/31/89 $1,000.00 $1,316.30 $1,302.88 31.63% 5.65% 30.29% 5.43%
1 Year
Ended
12/31/94* 12/31/93 $1,000.00 $ 967.10 $ 927.59 -3.29% -3.29% -7.24% -7.24%
<PAGE>
<CAPTION>
PERCENTAGE CHANGES -- 12/31/85-12/31/94
Net asset value to net asset value Net asset value to net asset value
before deducting the contingent deferred after deducting the contingent deferred
sales charge with all distributions reinvested sales charge with all distributions reinvested
---------------------------------------------- ----------------------------------------------
Fiscal Year Ended Annual Cumulative Average Annual Annual Cumulative Average Annual
----------------- ------ ---------- -------------- ------ ---------- --------------
<C> <C> <C> <C> <C> <C> <C>
12/31/85 32.26% 32.26% 32.26% 27.26% 27.26% 27.26%
12/31/86 15.43% 52.66% 23.56% 10.83% 47.66% 21.52%
12/31/87 1.99% 55.70% 15.90% -2.54% 51.70% 14.90%
12/31/88 15.01% 79.07% 15.67% 10.01% 76.07% 15.18%
12/31/89 28.92% 130.87% 18.20% 23.92% 128.87% 18.00%
12/31/90 0.59% 132.22% 15.07% -3.85% 131.22% 14.99%
12/31/91 21.45% 182.04% 15.96% 16.45% 182.04% 15.96%
12/31/92 6.93% 201.58% 14.78% 2.12% 201.58% 14.78%
12/31/93* 4.19% 214.21% 13.56% -0.44% 214.21% 13.56%
12/31/94* -3.29% 203.88% 11.75% -7.14% 203.88% 11.75%
Past performance is not indicative of future results. Investment return and principal value will fluctuate; shares, when
redeemed, may be worth more or less than their original cost.
* If a portion of the Fund's expenses had not been subsidized, the Fund would have had lower returns.
</TABLE>
August 1, 1995 M-STSAIS
<PAGE>
EATON VANCE
SPECIAL INVESTMENT TRUST
EV TRADITIONAL STOCK FUND
SUPPLEMENT TO PROSPECTUS DATED APRIL 1, 1995
1. Effective August 1, 1995, EV Traditional Stock Fund was reorganized and
became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Securities Trust,
which was also a Massachusetts business trust. Except for the fact that the
Fund is now a series of Eaton Vance Special Investment Trust, shares of the
Fund represent the same interest in the Fund's assets, are of the same class,
are subject to the same terms and conditions, fees and expenses and confer the
same rights as when the Fund was a series of Eaton Vance Securities Trust.
2. THE FOLLOWING SENTENCE REPLACES THE LAST SENTENCE IN THE LAST PARAGRAPH
UNDER THE CAPTION "HOW TO REDEEM FUND SHARES":
If a shareholder reinvests redemption proceeds within the 60-day period
and in accordance with the conditions set forth under "Eaton Vance
Shareholder Services -- Reinvestment Privilege," the shareholder's account
will be credited with the amount of any CDSC paid on such redeemed shares.
3. THE FOLLOWING PARAGRAPH REPLACES THE PARAGRAPH UNDER THE CAPTION "EATON
VANCE SHAREHOLDER SERVICES -- REINVESTMENT PRIVILEGE":
REINVESTMENT PRIVILEGE: A SHAREHOLDER WHO HAS REPURCHASED OR REDEEMED
SHARES MAY REINVEST AT NET ASSET VALUE ANY PORTION OR ALL OF THE REPURCHASE
OR REDEMPTION PROCEEDS (PLUS THAT AMOUNT NECESSARY TO ACQUIRE A FRACTIONAL
SHARE TO ROUND OFF THE PURCHASE TO THE NEAREST FULL SHARE) IN SHARES OF THE
FUND, or, provided that the shares repurchased or redeemed have been held
for at least 60 days, in shares or any of the other funds offered by the
Principal Underwriter with an initial sales charge, provided that the
reinvestment is effected within 60 days after such repurchase or redemption,
and the privilege has not been used more than once in the prior 12 months.
Shares are sold to a reinvesting shareholder at the next determined net
asset value following timely receipt of a written purchase order by the
Principal Underwriter or by the fund whose shares are to be purchased (or by
such fund's transfer agent). The privilege is also available to holders of
shares of the other funds offered with an initial sales charge by the
Principal Underwriter who wish to reinvest such redemption or repurchase
proceeds in shares of the Fund. If a shareholder reinvests redemption
proceeds within 60-day period the shareholder's account will be credited
with the amount of any CDSC paid on such redeemed shares. A reinvesting
shareholder may realize a gain or loss for Federal tax purposes as a result
of such repurchase or redemption. Special rules may apply to the computation
of gain or loss and to the deduction of loss on a repurchase or redemption
followed by a reinvestment. See "Distributions and Taxes". Shareholders
should consult their tax advisers concerning the tax consequences of
reinvestments.
THE DATE OF THE ATTACHED PROSPECTUS IS CHANGED TO AUGUST 1, 1995. ALL
REFERENCES IN THE PROSPECTUS TO EATON VANCE SECURITIES TRUST OR THE TRUST ARE
DEFINED TO MEAN EATON VANCE SPECIAL INVESTMENT TRUST.
August 1, 1995 T-STPS
<PAGE>
EATON VANCE SPECIAL INVESTMENT TRUST
EV TRADITIONAL STOCK FUND
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 1, 1995
Effective August 1, 1995, EV Traditional Stock Fund was reorganized and
became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Securities Trust,
which was also a Massachusetts business trust. Except for the fact that the Fund
is now a series of Eaton Vance Special Investment Trust, shares of the Fund
represent the same interest in the Fund's assets, are of the same class, are
subject to the same terms and conditions, fees and expenses and confer the same
rights as when the Fund was a series of Eaton Vance Securities Trust.
THE DATE OF THE ATTACHED STATEMENT OF ADDITIONAL INFORMATION IS CHANGED
TO AUGUST 1, 1995. ALL REFERENCES IN THE STATEMENT OF ADDITIONAL INFORMATION TO
EATON VANCE SECURITIES TRUST OR THE TRUST ARE DEFINED TO MEAN EATON VANCE
SPECIAL INVESTMENT TRUST.
August 1, 1995
T-STSAIS
<PAGE>
EATON VANCE
SPECIAL INVESTMENT TRUST
EV CLASSIC TOTAL RETURN FUND
SUPPLEMENT TO PROSPECTUS DATED MAY 1, 1995
1. Effective August 1, 1995, EV Classic Total Return Fund was reorganized and
became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Total Return Trust,
which was also a Massachusetts business trust. Except for the fact that the
Fund is now a series of Eaton Vance Special Investment Trust, shares of the
Fund represent the same interest in the Fund's assets, are of the same class,
are subject to the same terms and conditions, fees and expenses and confer the
same rights as when the Fund was a series of Eaton Vance Total Return Trust.
2. THE FOLLOWING IS ADDED TO THE FIRST PARAGRAPH UNDER "PERFORMANCE
INFORMATION":
The Fund may quote total return for the period prior to the Fund's
commencement of operations which would reflect the Portfolio's total return
(and that of its predecessor) adjusted to reflect any applicable Fund sales
charge.
3. THE FOLLOWING PARAGRAPH REPLACES THE PARAGRAPH UNDER THE CAPTION "EATON
VANCE SHAREHOLDER SERVICES -- REINVESTMENT PRIVILEGE":
REINVESTMENT PRIVILEGE: A SHAREHOLDER WHO HAS REPURCHASED OR REDEEMED
SHARES MAY REINVEST, WITH CREDIT FOR ANY CONTINGENT DEFERRED SALES CHARGES
PAID ON THE REPURCHASED OR REDEEMED SHARES, ANY PORTION OR ALL OF THE
REPURCHASE OR REDEMPTION PROCEEDS (PLUS THAT AMOUNT NECESSARY TO ACQUIRE A
FRACTIONAL SHARE TO ROUND OFF THE PURCHASE TO THE NEAREST FULL SHARE) IN
SHARES OF THE FUND, provided that the reinvestment is effected within 60
days after such repurchase or redemption, and the privilege has not been
used more than once in the prior 12 months. Shares are sold to a reinvesting
shareholder at the next determined net asset value following timely receipt
of a written purchase order by the Principal Underwriter or by the Fund (or
by the Fund's Transfer Agent). To the extent that any shares of the Fund are
sold at a loss and the proceeds are reinvested in shares of the Fund (or
other shares of the Fund are acquired within the period beginning 30 days
before and ending 30 days after the date of the redemption), some or all of
the loss generally will not be allowed as a tax deduction. Shareholders
should consult their tax advisers concerning the tax consequences of
reinvestments.
THE DATE OF THE ATTACHED PROSPECTUS IS CHANGED TO AUGUST 1, 1995. ALL
REFERENCES IN THE PROSPECTUS TO EATON VANCE TOTAL RETURN TRUST OR THE TRUST
ARE DEFINED TO MEAN EATON VANCE SPECIAL INVESTMENT TRUST.
August 1, 1995 C-TMPS
<PAGE>
EATON VANCE SPECIAL INVESTMENT TRUST
EV CLASSIC TOTAL RETURN FUND
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 1995
Effective August 1, 1995, EV Classic Total Return Fund was reorganized
and became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Total Return Trust,
which was also a Massachusetts business trust. Except for the fact that the Fund
is now a series of Eaton Vance Special Investment Trust, shares of the Fund
represent the same interest in the Fund's assets, are of the same class, are
subject to the same terms and conditions, fees and expenses and confer the same
rights as when the Fund was a series of Eaton Vance Total Return Trust.
THE DATE OF THE ATTACHED STATEMENT OF ADDITIONAL INFORMATION IS CHANGED
TO AUGUST 1, 1995. ALL REFERENCES IN THE STATEMENT OF ADDITIONAL INFORMATION TO
EATON VANCE TOTAL RETURN TRUST OR THE TRUST ARE DEFINED TO MEAN EATON VANCE
SPECIAL INVESTMENT TRUST.
The tables below indicate the total return (capital changes plus
reinvestment of all distributions) and percentage changes on a hypothetical
investment of $1,000 in the Fund from December 31, 1985 through December 31,
1994. The tables replace the tables appearing under "Performance Information" in
Part II of the Statement of Additional Information. The total return and
percentage changes for the period prior to the Fund's commencement of operations
on November 1, 1993 reflect the Portfolio's total return and percentage changes
(or that of its predecessor) adjusted to reflect any applicable Fund sales
charge. Such performance has not been adjusted to reflect the Fund's
distribution fees and certain other expenses. If such an adjustment were made,
the performance would be lower.
<TABLE>
<CAPTION>
VALUE OF A $1,000 INVESTMENT
Value of Value of
investment investment
before after
deducting deducting the Total return before Total return after
the contingent contingent deducting the contingent deducting the contingent
deferred deferred deferred sales charge deferred sales charge
Investment Investment Amount of sales charge sales charge ------------------------ ------------------------
Period Date Investment on 12/31/94 on 12/31/94 Cumulative Annualized Cumulative Annualized
---------- ---------- ---------- -------------- ------------- ---------- ----------- ---------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
10 Years
Ended
12/31/94 12/31/84 $1,000.00 $3,107.00 $3,107.00 210.70% 12.00% 210.70% 12.00%
5 Years
Ended
12/31/94 12/31/89 $1,000.00 $1,341.02 $1,341.02 34.10% 6.04% 34.10% 6.04%
1 Year
Ended
12/31/94* 12/31/93 $1,000.00 $ 870.16 $ 861.80 -12.98% -12.98% -13.82% -13.82%
<PAGE>
<CAPTION>
PERCENTAGE CHANGES -- 12/31/85-12/31/94
Net asset value to net asset value Net asset value to net asset value
before deducting the contingent deferred after deducting the contingent deferred
sales charge with all distributions reinvested sales charge with all distributions reinvested
---------------------------------------------- ----------------------------------------------
Fiscal Year Ended Annual Cumulative Average Annual Annual Cumulative Average Annual
----------------- ------ ---------- -------------- ------ ---------- --------------
<C> <C> <C> <C> <C> <C> <C>
12/31/85 40.13% 40.13% 40.13% 35.13% 35.13% 35.13%
12/31/86 31.48% 84.24% 35.74% 26.48% 79.24% 33.88%
12/31/87 -15.82% 55.09% 15.75% -19.38% 51.09% 14.75%
12/31/88 11.94% 73.60% 14.78% 6.94% 70.60% 14.28%
12/31/89 33.46% 131.69% 18.29% 28.46% 129.69% 18.08%
12/31/90 0.15% 132.04% 15.05% -4.38% 131.04% 14.97%
12/31/91 23.61% 186.83% 16.24% 18.61% 186.83% 16.24%
12/31/92 6.60% 205.75% 14.98% 1.80% 205.75% 14.98%
12/31/93* 16.78% 257.06% 15.18% 15.78% 257.06% 15.18%
12/31/94* -12.98% 210.70% 12.00% -13.82% 210.70% 12.00%
Past performance is not indicative of future results. Investment return and principal value will fluctuate; shares, when
redeemed, may be worth more or less than their original cost.
* If a portion of the Fund's expenses had not been subsidized, the Fund would have had lower returns.
</TABLE>
August 1, 1995 C-TMSAIS
<PAGE>
EATON VANCE
SPECIAL INVESTMENT TRUST
EV MARATHON TOTAL RETURN FUND
SUPPLEMENT TO PROSPECTUS DATED MAY 1, 1995
1. Effective August 1, 1995, EV Marathon Total Return Fund was reorganized and
became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Total Return Trust,
which was also a Massachusetts business trust. Except for the fact that the
Fund is now a series of Eaton Vance Special Investment Trust, shares of the
Fund represent the same interest in the Fund's assets, are of the same class,
are subject to the same terms and conditions, fees and expenses and confer the
same rights as when the Fund was a series of Eaton Vance Total Return Trust.
2. THE FOLLOWING IS ADDED TO THE FIRST PARAGRAPH UNDER "PERFORMANCE
INFORMATION":
The Fund may quote total return for the period prior to the Fund's
commencement of operations which would reflect the Portfolio's total return
(and that of its predecessor) adjusted to reflect any applicable Fund sales
charge.
3. THE FOLLOWING PARAGRAPH REPLACES THE PARAGRAPH UNDER THE CAPTION "EATON
VANCE SHAREHOLDER SERVICES -- REINVESTMENT PRIVILEGE":
REINVESTMENT PRIVILEGE: A SHAREHOLDER WHO HAS REPURCHASED OR REDEEMED
SHARES MAY REINVEST, WITH CREDIT FOR ANY CONTINGENT DEFERRED SALES CHARGES
PAID ON THE REPURCHASED OR REDEEMED SHARES, ANY PORTION OR ALL OF THE
REPURCHASE OR REDEMPTION PROCEEDS (PLUS THAT AMOUNT NECESSARY TO ACQUIRE A
FRACTIONAL SHARE TO ROUND OFF THE PURCHASE TO THE NEAREST FULL SHARE) IN
SHARES OF THE FUND, provided that the reinvestment is effected within 60
days after such repurchase or redemption, and the privilege has not been
used more than once in the prior 12 months. Shares are sold to a reinvesting
shareholder at the next determined net asset value following timely receipt
of a written purchase order by the Principal Underwriter or by the Fund (or
by the Fund's Transfer Agent). To the extent that any shares of the Fund are
sold at a loss and the proceeds are reinvested in shares of the Fund (or
other shares of the Fund are acquired within the period beginning 30 days
before and ending 30 days after the date of the redemption), some or all of
the loss generally will not be allowed as a tax deduction. Shareholders
should consult their tax advisers concerning the tax consequences of
reinvestments.
THE DATE OF THE ATTACHED PROSPECTUS IS CHANGED TO AUGUST 1, 1995. ALL
REFERENCES IN THE PROSPECTUS TO EATON VANCE TOTAL RETURN TRUST OR THE TRUST
ARE DEFINED TO MEAN EATON VANCE SPECIAL INVESTMENT TRUST.
August 1, 1995 M-TMPS
<PAGE>
EATON VANCE SPECIAL INVESTMENT TRUST
EV MARATHON TOTAL RETURN FUND
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 1995
Effective August 1, 1995, EV Marathon Total Return Fund was reorganized
and became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Total Return Trust,
which was also a Massachusetts business trust. Except for the fact that the Fund
is now a series of Eaton Vance Special Investment Trust, shares of the Fund
represent the same interest in the Fund's assets, are of the same class, are
subject to the same terms and conditions, fees and expenses and confer the same
rights as when the Fund was a series of Eaton Vance Total Return Trust.
THE DATE OF THE ATTACHED STATEMENT OF ADDITIONAL INFORMATION IS CHANGED
TO AUGUST 1, 1995. ALL REFERENCES IN THE STATEMENT OF ADDITIONAL INFORMATION TO
EATON VANCE TOTAL RETURN TRUST OR THE TRUST ARE DEFINED TO MEAN EATON VANCE
SPECIAL INVESTMENT TRUST.
The tables below indicate the total return (capital changes plus
reinvestment of all distributions) and percentage changes on a hypothetical
investment of $1,000 in the Fund from December 31, 1985 through December 31,
1994. The tables replace the tables appearing under "Performance Information" in
Part II of the Statement of Additional Information. The total return and
percentage changes for the period prior to the Fund's commencement of operations
on November 1, 1993 reflect the Portfolio's total return and percentage changes
(or that of its predecessor) adjusted to reflect any applicable Fund sales
charge. Such performance has not been adjusted to reflect the Fund's
distribution fees and certain other expenses. If such an adjustment were made,
the performance would be lower.
<TABLE>
<CAPTION>
VALUE OF A $1,000 INVESTMENT
Value of Value of
investment investment
before after
deducting deducting the Total return before Total return after
the contingent contingent deducting the contingent deducting the contingent
deferred deferred deferred sales charge deferred sales charge
Investment Investment Amount of sales charge sales charge ------------------------ ------------------------
Period Date Investment on 12/31/94 on 12/31/94 Cumulative Annualized Cumulative Annualized
---------- ---------- ---------- -------------- ------------- ---------- ----------- ---------- -----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
10 Years
Ended
12/31/94 12/31/84 $1,000.00 $3,094.90 $3,094.90 209.49% 11.95% 209.49% 11.95%
5 Years
Ended
12/31/94 12/31/89 $1,000.00 $1,335.80 $1,320.45 33.58% 5.96% 32.04% 5.72%
1 Year
Ended
12/31/94* 12/31/93 $1,000.00 $ 875.30 $ 833.51 -12.47% -12.47% -16.65% -16.65%
<PAGE>
<CAPTION>
PERCENTAGE CHANGES -- 12/31/85-12/31/94
Net asset value to net asset value Net asset value to net asset value
before deducting the contingent deferred after deducting the contingent deferred
sales charge with all distributions reinvested sales charge with all distributions reinvested
---------------------------------------------- ----------------------------------------------
Fiscal Year Ended Annual Cumulative Average Annual Annual Cumulative Average Annual
----------------- ------ ---------- -------------- ------ ---------- --------------
<C> <C> <C> <C> <C> <C> <C>
12/31/85 40.13% 40.13% 40.13% 35.13% 35.13% 35.13%
12/31/86 31.48% 84.24% 35.74% 26.48% 79.24% 33.88%
12/31/87 -15.82% 55.09% 15.75% -19.38% 51.09% 14.75%
12/31/88 11.94% 73.60% 14.78% 6.94% 70.60% 14.28%
12/31/89 33.46% 131.69% 18.29% 28.46% 129.69% 18.08%
12/31/90 0.15% 132.04% 15.05% -4.38% 131.04% 14.97%
12/31/91 23.61% 186.83% 16.24% 18.61% 186.83% 16.24%
12/31/92 6.60% 205.75% 14.98% 1.80% 205.75% 14.98%
12/31/93* 15.65% 253.58% 15.06% 10.65% 253.58% 15.06%
12/31/94* -12.47% 209.49% 11.95% -16.65% 209.49% 11.95%
Past performance is not indicative of future results. Investment return and principal value will fluctuate; shares, when
redeemed, may be worth more or less than their original cost.
* If a portion of the Fund's expenses had not been subsidized, the Fund would have had lower returns.
</TABLE>
August 1, 1995 M-TMSAIS
<PAGE>
EATON VANCE
SPECIAL INVESTMENT TRUST
EV TRADITIONAL TOTAL RETURN FUND
SUPPLEMENT TO PROSPECTUS DATED MAY 1, 1995
1. Effective August 1, 1995, EV Traditional Total Return Fund was reorganized
and became a series of Eaton Vance Special Investment Trust, a business trust
organized under the laws of the Commonwealth of Massachusetts. Prior to the
reorganization, the Fund had been a series of Eaton Vance Total Return Trust,
which was also a Massachusetts business trust. Except for the fact that the
Fund is now a series of Eaton Vance Special Investment Trust, shares of the
Fund represent the same interest in the Fund's assets, are of the same class,
are subject to the same terms and conditions, fees and expenses and confer the
same rights as when the Fund was a series of Eaton Vance Total Return Trust.
2. THE FOLLOWING SENTENCE REPLACES THE LAST SENTENCE IN THE LAST PARAGRAPH
UNDER THE CAPTION "HOW TO REDEEM FUND SHARES":
If a shareholder reinvests redemption proceeds within the 60-day period
and in accordance with the conditions set forth under "Eaton Vance
Shareholder Services -- Reinvestment Privilege," the shareholder's account
will be credited with the amount of any CDSC paid on such redeemed shares.
3. THE FOLLOWING PARAGRAPH REPLACES THE PARAGRAPH UNDER THE CAPTION "EATON
VANCE SHAREHOLDER SERVICES -- REINVESTMENT PRIVILEGE":
REINVESTMENT PRIVILEGE: A SHAREHOLDER WHO HAS REPURCHASED OR REDEEMED
SHARES MAY REINVEST AT NET ASSET VALUE ANY PORTION OR ALL OF THE REPURCHASE
OR REDEMPTION PROCEEDS (PLUS THAT AMOUNT NECESSARY TO ACQUIRE A FRACTIONAL
SHARE TO ROUND OFF THE PURCHASE TO THE NEAREST FULL SHARE) IN SHARES OF THE
FUND, or, provided that the shares repurchased or redeemed have been held
for at least 60 days, in shares or any of the other funds offered by the
Principal Underwriter with an initial sales charge, provided that the
reinvestment is effected within 60 days after such repurchase or redemption,
and the privilege has not been used more than once in the prior 12 months.
Shares are sold to a reinvesting shareholder at the next determined net
asset value following timely receipt of a written purchase order by the
Principal Underwriter or by the fund whose shares are to be purchased (or by
such fund's transfer agent). The privilege is also available to holders of
shares of the other funds offered with an initial sales charge by the
Principal Underwriter who wish to reinvest such redemption or repurchase
proceeds in shares of the Fund. If a shareholder reinvests redemption
proceeds within 60-day period the shareholder's account will be credited
with the amount of any CDSC paid on such redeemed shares. A reinvesting
shareholder may realize a gain or loss for Federal tax purposes as a result
of such repurchase or redemption. Special rules may apply to the computation
of gain or loss and to the deduction of loss on a repurchase or redemption
followed by a reinvestment. See "Distributions and Taxes". Shareholders
should consult their tax advisers concerning the tax consequences of
reinvestments.
THE DATE OF THE ATTACHED PROSPECTUS IS CHANGED TO AUGUST 1, 1995. ALL
REFERENCES IN THE PROSPECTUS TO EATON VANCE TOTAL RETURN TRUST OR THE TRUST
ARE DEFINED TO MEAN EATON VANCE SPECIAL INVESTMENT TRUST.
August 1, 1995 T-TMPS
<PAGE>
EATON VANCE SPECIAL INVESTMENT TRUST
EV TRADITIONAL TOTAL RETURN FUND
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 1995
Effective August 1, 1995, EV Traditional Total Return Fund was
reorganized and became a series of Eaton Vance Special Investment Trust, a
business trust organized under the laws of the Commonwealth of Massachusetts.
Prior to the reorganization, the Fund had been a series of Eaton Vance Total
Return Trust, which was also a Massachusetts business trust. Except for the fact
that the Fund is now a series of Eaton Vance Special Investment Trust, shares of
the Fund represent the same interest in the Fund's assets, are of the same
class, are subject to the same terms and conditions, fees and expenses and
confer the same rights as when the Fund was a series of Eaton Vance Total Return
Trust.
THE DATE OF THE ATTACHED STATEMENT OF ADDITIONAL INFORMATION IS CHANGED
TO AUGUST 1, 1995. ALL REFERENCES IN THE STATEMENT OF ADDITIONAL INFORMATION TO
EATON VANCE TOTAL RETURN TRUST OR THE TRUST ARE DEFINED TO MEAN EATON VANCE
SPECIAL INVESTMENT TRUST.
August 1, 1995
T-TMSAIS
