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FORUM FUNDS
OAK HALL EQUITY FUND
Supplement to Prospectus Dated November 25, 1996
Effective January 1, 1997, Ed Cimilluca, President and Chief Investment
Officer of the Adviser, will be the Fund's portfolio manager. Prior to his
association with the Adviser, Mr. Cimilluca was Director of Research at J. & W.
Seligman and prior thereto was a Managing Director of Lehman Brothers, Inc. Mr.
Cimilluca has approximately 25 years in the investment management business. His
approach to investing is consistent with the Fund's emphasis on value investing
in out-of-favor sectors of the market.
December 30, 1996
