April 1, 1998
COUNTRYWIDE INVESTMENT TRUST
MONEY MARKET FUND
SUPPLEMENT TO PROSPECTUS DATED JANUARY 1, 1998
The following should be read in conjunction with the section entitled
"Investment Objective and Policies" beginning on page 4 of the Prospectus:
The Fund may make investments in obligations, such as guaranteed
investment contracts and similar funding agreements (collectively "GICs"),
issued by highly rated U.S. insurance companies. A GIC is a general obligation
of the issuing insurance company and not a separate account. Under these
contracts, the Fund makes cash contributions to a deposit fund of the insurance
company's general account. The insurance company then credits to the Fund on a
monthly basis guaranteed interest which is based on an index. The GICs provide
that this guaranteed interest will not be less than a certain minimum rate. GIC
investments that do not provide for payment within seven days after notice are
subject to the Fund's policy regarding investments in illiquid securities.
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