USAA USAA TAX EXEMPT FUND, INC.
EAGLE LONG-TERM FUND, INTERMEDIATE-TERM FUND,
LOGO SHORT-TERM FUND, AND
TAX EXEMPT MONEY MARKET FUND
SUPPLEMENT DATED JANUARY 3, 2000
TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED AUGUST 1, 1999
Effective January 1, 2000, David G. Peebles and Michael F. Reimherr will
replace John W. Saunders, Jr., and Howard L. Freeman, Jr., respectively as
Directors. Messrs. Saunders and Freeman retired from the Board of Directors on
December 31, 1999. Mr. Saunders will remain a director and executive officer of
USAA Investment Management Company until January 31, 2000, when he will retire
from his position of Senior Vice President, Fixed Income Investments.
Additionally, Kenneth E. Willmann has been elected as a Vice President of the
Company. As a result of these actions, the paragraphs under the caption
"Directors and Officers of the Company" have been changed as follows:
David G. Peebles 1, 2, 4
Director and Vice President
Age: 60
Senior Vice President, Equity Investments, IMCO (11/98-present); Vice
President, Equity Investments, IMCO (2/88-11/98). Mr. Peebles serves as
Director/Trustee and Vice President of each of the remaining Funds within the
USAA Family of Funds; Director of IMCO; Senior Vice President of USAA
Shareholder Account Services; and Vice President of USAA Life Investment Trust.
Michael F. Reimherr 3, 4, 5
128 East Arrowhead
San Antonio, Texas 78228
Age: 53
President of Reimherr Business Consulting (5/95-present); President of Twang
Candy Company (5/91-5/94). Mr. Reimherr serves as a Director/Trustee of each of
the remaining Funds within the USAA Family of Funds.
Kenneth E. Willmann 1
Vice President
Age: 53
Senior Vice President, Fixed Income Investments, IMCO (12/99-present); Vice
President, Mutual Fund Portfolios, IMCO (09/94-12/99). Mr. Willmann serves as
Vice President of each of the remaining Funds within the USAA Family of Funds;
Director of IMCO; and Vice President of USAA Life Investment Trust.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
35400-0100
<PAGE>
USAA USAA TAX EXEMPT FUND, INC.
EAGLE CALIFORNIA BOND FUND AND
LOGO CALIFORNIA MONEY MARKET FUND
SUPPLEMENT DATED JANUARY 3, 2000
TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED AUGUST 1, 1999
Effective January 1, 2000, David G. Peebles and Michael F. Reimherr will
replace John W. Saunders, Jr., and Howard L. Freeman, Jr., respectively as
Directors. Messrs. Saunders and Freeman retired from the Board of Directors on
December 31, 1999. Mr. Saunders will remain a director and executive officer of
USAA Investment Management Company until January 31, 2000, when he will retire
from his position of Senior Vice President, Fixed Income Investments.
Additionally, Kenneth E. Willmann has been elected as a Vice President of the
Company. As a result of these actions, the paragraphs under the caption
"Directors and Officers of the Company" have been changed as follows:
David G. Peebles 1, 2, 4
Director and Vice President
Age: 60
Senior Vice President, Equity Investments, IMCO (11/98-present); Vice
President, Equity Investments, IMCO (2/88-11/98). Mr. Peebles serves as
Director/Trustee and Vice President of each of the remaining Funds within the
USAA Family of Funds; Director of IMCO; Senior Vice President of USAA
Shareholder Account Services; and Vice President of USAA Life Investment Trust.
Michael F. Reimherr 3, 4, 5
128 East Arrowhead
San Antonio, Texas 78228
Age: 53
President of Reimherr Business Consulting (5/95-present); President of Twang
Candy Company (5/91-5/94). Mr. Reimherr serves as a Director/Trustee of each of
the remaining Funds within the USAA Family of Funds.
Kenneth E. Willmann 1
Vice President
Age: 53
Senior Vice President, Fixed Income Investments, IMCO (12/99-present); Vice
President, Mutual Fund Portfolios, IMCO (09/94-12/99). Mr. Willmann serves as
Vice President of each of the remaining Funds within the USAA Family of Funds;
Director of IMCO; and Vice President of USAA Life Investment Trust.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
35401-0100
<PAGE>
USAA USAA TAX EXEMPT FUND, INC.
EAGLE NEW YORK BOND FUND AND
LOGO NEW YORK MONEY MARKET FUND
SUPPLEMENT DATED JANUARY 3, 2000
TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED AUGUST 1, 1999
Effective January 1, 2000, David G. Peebles and Michael F. Reimherr will
replace John W. Saunders, Jr., and Howard L. Freeman, Jr., respectively as
Directors. Messrs. Saunders and Freeman retired from the Board of Directors on
December 31, 1999. Mr. Saunders will remain a director and executive officer of
USAA Investment Management Company until January 31, 2000, when he will retire
from his position of Senior Vice President, Fixed Income Investments.
Additionally, Kenneth E. Willmann has been elected as a Vice President of the
Company. As a result of these actions, the paragraphs under the caption
"Directors and Officers of the Company" have been changed as follows:
David G. Peebles 1, 2, 4
Director and Vice President
Age: 60
Senior Vice President, Equity Investments, IMCO (11/98-present); Vice
President, Equity Investments, IMCO (2/88-11/98). Mr. Peebles serves as
Director/Trustee and Vice President of each of the remaining Funds within the
USAA Family of Funds; Director of IMCO; Senior Vice President of USAA
Shareholder Account Services; and Vice President of USAA Life Investment Trust.
Michael F. Reimherr 3, 4, 5
128 East Arrowhead
San Antonio, Texas 78228
Age: 53
President of Reimherr Business Consulting (5/95-present); President of Twang
Candy Company (5/91-5/94). Mr. Reimherr serves as a Director/Trustee of each of
the remaining Funds within the USAA Family of Funds.
Kenneth E. Willmann 1
Vice President
Age: 53
Senior Vice President, Fixed Income Investments, IMCO (12/99-present); Vice
President, Mutual Fund Portfolios, IMCO (09/94-12/99). Mr. Willmann serves as
Vice President of each of the remaining Funds within the USAA Family of Funds;
Director of IMCO; and Vice President of USAA Life Investment Trust.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
35402-0100
<PAGE>
USAA USAA TAX EXEMPT FUND, INC.
EAGLE VIRGINIA BOND FUND AND
LOGO VIRGINIA MONEY MARKET FUND
SUPPLEMENT DATED JANUARY 3, 2000
TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED AUGUST 1, 1999
Effective January 1, 2000, David G. Peebles and Michael F. Reimherr will
replace John W. Saunders, Jr., and Howard L. Freeman, Jr., respectively as
Directors. Messrs. Saunders and Freeman retired from the Board of Directors on
December 31, 1999. Mr. Saunders will remain a director and executive officer of
USAA Investment Management Company until January 31, 2000, when he will retire
from his position of Senior Vice President, Fixed Income Investments.
Additionally, Kenneth E. Willmann has been elected as a Vice President of the
Company. As a result of these actions, the paragraphs under the caption
"Directors and Officers of the Company" have been changed as follows:
David G. Peebles 1, 2, 4
Director and Vice President
Age: 60
Senior Vice President, Equity Investments, IMCO (11/98-present); Vice
President, Equity Investments, IMCO (2/88-11/98). Mr. Peebles serves as
Director/Trustee and Vice President of each of the remaining Funds within the
USAA Family of Funds; Director of IMCO; Senior Vice President of USAA
Shareholder Account Services; and Vice President of USAA Life Investment Trust.
Michael F. Reimherr 3, 4, 5
128 East Arrowhead
San Antonio, Texas 78228
Age: 53
President of Reimherr Business Consulting (5/95-present); President of Twang
Candy Company (5/91-5/94). Mr. Reimherr serves as a Director/Trustee of each of
the remaining Funds within the USAA Family of Funds.
Kenneth E. Willmann 1
Vice President
Age: 53
Senior Vice President, Fixed Income Investments, IMCO (12/99-present); Vice
President, Mutual Fund Portfolios, IMCO (09/94-12/99). Mr. Willmann serves as
Vice President of each of the remaining Funds within the USAA Family of Funds;
Director of IMCO; and Vice President of USAA Life Investment Trust.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
35403-0100
