WRIGHT MANAGED EQUITY TRUST
497, 2000-06-29
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                           Supplement to Prospectus
                                       of
                  Wright International Blue Chip Equities Fund
                                dated May 1, 2000


         Effective as of the date of this Supplement,  the following  disclosure
         is  added  under  the  caption  "Selling  Shares"  on  page  19 of  the
         Prospectus:

                  If  you  redeem  shares  of  Wright  International  Blue  Chip
                  Equities Fund purchased after July 1, 2000 within three months
                  after purchase,  you will pay a redemption fee of 2.00%. These
                  redemption fees may be waived on shares purchased for Wright's
                  investment advisory clients.




         The following disclosure is added under the caption "Fees and Expenses"
on page 7 of the prospectus:

   Shareholder Fees(*)
-------------------------------------------------------------------------------

 (paid directly from your investment)   Maximum redemption fee     2.00%
                                      (% of redemption proceeds)

------------------------------------------------------------------------------

 (*) A  redemption  fee  applies if you redeem your  shares  within  three
     months of purchase.








         July 1, 2000



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