FORUM FUNDS
497, 2001-01-10
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                                   FORUM FUNDS

                              INVESTORS GROWTH FUND


                        Supplement Dated January 10, 2001
                       to Prospectus Dated August 1, 2000


Effective  January 5, 2001,  Forum Funds (the "Trust") ceased offering shares of
Investors Growth Fund (the "Fund"). In addition, effective January 31, 2001, the
Trust will terminate the exchange  privileges  applicable to the Fund. The Board
of Trustees of the Trust is also  considering  initiating  measures to close the
Fund.

The Fund  reserves  the right to convert the  portfolio  holdings to cash and/or
cash equivalents at any time.

This Supplement  supercedes the Supplement Dated December 20, 2000 to the Fund's
Prospectus.


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