<PAGE> 1
THE ARCH FUND(R), INC.
(THE "FUND")
TRUST SHARES OF THE
TREASURY MONEY MARKET, MONEY MARKET,
TAX-EXEMPT MONEY MARKET, U.S. GOVERNMENT SECURITIES,
INTERMEDIATE CORPORATE BOND,
BOND INDEX, GOVERNMENT & CORPORATE BOND,
SHORT-INTERMEDIATE MUNICIPAL,
MISSOURI TAX-EXEMPT BOND, NATIONAL MUNICIPAL BOND,
EQUITY INCOME, EQUITY INDEX, GROWTH & INCOME EQUITY,
GROWTH EQUITY, SMALL CAP EQUITY,
SMALL CAP EQUITY INDEX,
INTERNATIONAL EQUITY AND
BALANCED PORTFOLIOS
SUPPLEMENT DATED JULY 1, 1998
TO PROSPECTUS DATED MARCH 31, 1998
1. The section entitled "Purchase of Shares - The Money Market
Portfolios" under the heading "HOW TO PURCHASE AND REDEEM SHARES" on page 58 of
the Prospectus is amended and restated to read as follows:
A purchase order received and accepted by the Fund by 12:00 noon
(Eastern time) on a Business Day with respect to the Treasury Money Market
Portfolio and Tax-Exempt Money Market Portfolio or by 3:00 p.m. (Eastern time)
on a Business Day with respect to the Money Market Portfolio is effected at the
net asset value per Share next determined after receipt of the order in good
form if the Fund's custodian has received payment in federal funds by 4:00 p.m.
Eastern time that day. If such funds are not available for investment by 4:00
p.m. (Eastern time), the order will be cancelled. Purchase orders received after
12:00 noon (Eastern time) with respect to the Treasury Money Market Portfolio
and Tax-Exempt Money Market Portfolio or after 3:00 p.m. (Eastern time) with
respect to the Money Market Portfolio will be placed the following Business Day.
2. The fourth paragraph of the section entitled "Redemption of Shares"
under the heading "HOW TO PURCHASE AND REDEEM SHARES" on pages 59-60 of the
Prospectus is amended and restated to read as follows:
Proceeds from redemptions of Shares of the MONEY MARKET PORTFOLIOS with
respect to redemption orders received by the Fund before 12:00 noon (Eastern
time) on a Business Day with respect to the Treasury Money Market Portfolio and
Tax-Exempt Money Market Portfolio or before 3:00 p.m. (Eastern time) on a
Business Day with respect to the Money Market Portfolio normally are sent
electronically the same day to the financial institution that
<PAGE> 2
placed the redemption order in good form. Proceeds for redemption orders that
are received after 12:00 noon (Eastern time) with respect to the Treasury Money
Market Portfolio and Tax-Exempt Money Market Portfolio or after 3:00 p.m.
(Eastern time) with respect to the Money Market Portfolio or on a non-Business
Day normally are wired to the financial institution on the next Business Day.
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THE ARCH FUND(R), INC.
(THE "FUND")
TRUST SHARES OF THE
TREASURY MONEY MARKET, MONEY MARKET AND
TAX-EXEMPT MONEY MARKET PORTFOLIOS
SUPPLEMENT DATED JULY 1, 1998
TO PROSPECTUS DATED MARCH 31, 1998
1. The last paragraph of the section entitled "Purchase of Shares"
under the heading "HOW TO PURCHASE AND REDEEM SHARES" on pages 21-22 of the
Prospectus is amended and restated to read as follows:
A purchase order received and accepted by the Fund by 12:00 noon
(Eastern time) on a Business Day with respect to the Treasury Money Market
Portfolio and Tax-Exempt Money Market Portfolio or by 3:00 p.m. (Eastern time)
on a Business Day with respect to the Money Market Portfolio is effected at the
net asset value per Share next determined after receipt of the order in good
form if the Fund's custodian has received payment in federal funds by 4:00 p.m.
Eastern time that day. If such funds are not available for investment by 4:00
p.m. (Eastern time), the order will be cancelled. Purchase orders received after
12:00 noon (Eastern time) with respect to the Treasury Money Market Portfolio
and Tax-Exempt Money Market Portfolio or after 3:00 p.m. (Eastern time) with
respect to the Money Market Portfolio will be placed the following Business Day.
2. The last paragraph of the section entitled "Redemption of Shares"
under the heading "HOW TO PURCHASE AND REDEEM SHARES" on pages 22-23 of the
Prospectus is amended and restated to read as follows:
Proceeds from redemptions of Shares with respect to redemption orders
received by the Fund before 12:00 noon (Eastern time) on a Business Day with
respect to the Treasury Money Market Portfolio and Tax-Exempt Money Market
Portfolio or before 3:00 p.m. (Eastern time) on a Business Day with respect to
the Money Market Portfolio normally are sent electronically the same day to the
financial institution that placed the redemption order in good form. Proceeds
for redemption orders that are received after 12:00 noon (Eastern time) with
respect to the Treasury Money Market Portfolio and Tax-Exempt Money Market
Portfolio or after 3:00 p.m. (Eastern time) with respect to the Money Market
Portfolio or on a non-Business Day normally are wired to the financial
institution on the next Business Day.
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THE ARCH FUND(R), INC.
(THE "FUND")
INVESTOR A SHARES AND INVESTOR B SHARES OF THE
TREASURY MONEY MARKET, MONEY MARKET,
TAX-EXEMPT MONEY MARKET, U.S. GOVERNMENT SECURITIES,
INTERMEDIATE CORPORATE BOND,
BOND INDEX, GOVERNMENT & CORPORATE BOND,
SHORT-INTERMEDIATE MUNICIPAL,
MISSOURI TAX-EXEMPT BOND, NATIONAL MUNICIPAL BOND,
EQUITY INCOME, EQUITY INDEX, GROWTH & INCOME EQUITY,
GROWTH EQUITY, SMALL CAP EQUITY,
SMALL CAP EQUITY INDEX,
INTERNATIONAL EQUITY AND
BALANCED PORTFOLIOS
SUPPLEMENT DATED JULY 1, 1998
TO PROSPECTUS DATED MARCH 31, 1998
1. The first paragraph of the section entitled "Effective Time of
Purchase" under the heading "HOW TO PURCHASE AND REDEEM SHARES" on page 65 of
the Prospectus is amended and restated to read as follows:
A purchase order for the Money Market Portfolios received and accepted
by the Fund by 12:00 noon (Eastern time) on a Business Day with respect to the
Treasury Money Market Portfolio and Tax-Exempt Money Market Portfolio or by 3:00
p.m. (Eastern time) on a Business Day with respect to the Money Market Portfolio
is effected at the net asset value per Share next determined after receipt of
the order in good form if the Fund's custodian has received payment in federal
funds or other immediately available funds by 4:00 p.m. Eastern time that day.
If such funds are not available for investment by 4:00 p.m. (Eastern time), the
order will be cancelled. Purchase orders received after 12:00 noon (Eastern
time) with respect to the Treasury Money Market Portfolio and Tax-Exempt Money
Market Portfolio or after 3:00 p.m. (Eastern time) with respect to the Money
Market Portfolio will be placed the following Business Day.
2. The second paragraph of the section entitled "Redemption by
Telephone" under the heading "HOW TO PURCHASE AND REDEEM SHARES" on pages 72-73
of the Prospectus is amended and restated to read as follows:
Proceeds from redemptions of Investor A Shares and/or Investor B Shares
of the MONEY MARKET PORTFOLIOS with respect to redemption orders received by the
Fund before 12:00 noon (Eastern time) on a Business Day with respect to the
Treasury Money Market Portfolio and Tax-Exempt Money Market Portfolio or before
3:00 p.m. (Eastern time) on a Business Day with respect to the Money
<PAGE> 5
Market Portfolio normally will be sent electronically the same day (or mailed by
check the next Business Day) to the organization that placed the redemption
order in good form. Proceeds for redemption orders that are received after 12:00
noon (Eastern time) with respect to the Treasury Money Market Portfolio and
Tax-Exempt Money Market Portfolio or after 3:00 p.m. (Eastern time) with respect
to the Money Market Portfolio or on a non-Business Day normally will be sent
electronically on the next Business Day (or mailed by check the second Business
Day thereafter).
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THE ARCH FUND(R), INC.
(THE "FUND")
INSTITUTIONAL SHARES OF THE
TREASURY MONEY MARKET, MONEY MARKET,
U.S. GOVERNMENT SECURITIES,
INTERMEDIATE CORPORATE BOND,
BOND INDEX, GOVERNMENT & CORPORATE BOND,
EQUITY INCOME, EQUITY INDEX, GROWTH & INCOME EQUITY,
GROWTH EQUITY, SMALL CAP EQUITY,
SMALL CAP EQUITY INDEX,
INTERNATIONAL EQUITY AND
BALANCED PORTFOLIOS
SUPPLEMENT DATED JULY 1, 1998
TO PROSPECTUS DATED MARCH 31, 1998
1. The section entitled "Purchase of Shares - The Money Market
Portfolios" under the heading "HOW TO PURCHASE AND REDEEM SHARES" on page 43 of
the Prospectus is amended and restated to read as follows:
A purchase order received and accepted by the Fund by 12:00 noon
(Eastern time) on a Business Day with respect to the Treasury Money Market
Portfolio and Tax-Exempt Money Market Portfolio or by 3:00 p.m. (Eastern time)
on a Business Day with respect to the Money Market Portfolio is effected at the
net asset value per Share next determined after receipt of the order in good
form if the Fund's custodian has received payment in federal funds by 4:00 p.m.
Eastern time that day. If such funds are not available for investment by 4:00
p.m. (Eastern time), the order will be cancelled. Purchase orders received after
12:00 noon (Eastern time) with respect to the Treasury Money Market Portfolio
and Tax-Exempt Money Market Portfolio or after 3:00 p.m. (Eastern time) with
respect to the Money Market Portfolio will be placed the following Business Day.
2. The fourth paragraph of the section entitled "Redemption of Shares"
under the heading "HOW TO PURCHASE AND REDEEM SHARES" on page 44 of the
Prospectus is amended and restated to read as follows:
Proceeds from redemptions of Shares of the MONEY MARKET PORTFOLIOS with
respect to redemption orders received by the Fund before 12:00 noon (Eastern
time) on a Business Day with respect to the Treasury Money Market Portfolio and
Tax-Exempt Money Market Portfolio or before 3:00 p.m. (Eastern time) on a
Business Day with respect to the Money Market Portfolio normally are sent
electronically the same day to the financial institution that placed the
redemption order in good form. Proceeds for redemption orders that are received
after 12:00 noon (Eastern
<PAGE> 7
time) with respect to the Treasury Money Market Portfolio and Tax-Exempt Money
Market Portfolio or after 3:00 p.m. (Eastern time) with respect to the Money
Market Portfolio or on a non-Business Day normally are wired to the financial
institution on the next Business Day.
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