FORUM FUNDS
OAK HALL(R) SMALL CAP CONTRARIAN FUnd
Supplement Dated May 27, 1999
to Prospectus Dated August 1, 1998
Oak Hall Capital Advisors, LP, the Fund's investment adviser, has notified
management that it intends to terminate its investment advisory agreement with
Forum Funds with respect to the Fund on July 20, 1999. Management has not
succeeded in locating a suitable replacement investment adviser or merger
partner for the Fund. As a result, the Trustees of Forum Funds have determined
to cease publicly offering the Fund's shares effective immediately. Further, the
Trustees have directed Oak Hall to reduce the Fund's portfolio to cash and to
pay distributions of net capital gains and net investment income to shareholders
by June 3, 1999.
Forum Funds strongly advises that you redeem your shares or exchange them for
shares of other Forum Funds as provided in your prospectus. The Trustees have
directed the Fund to distribute its cash position to remaining shareholders on
July 9, 1999 so that the Fund may be closed before the investment advisory
agreement terminates.
