Cornerstone Sticker - New Distributor
CORNERSTONE HIGH-YIELD MUNICIPAL BOND FUND
(A SERIES OF CORNERSTONE FIXED INCOME FUNDS)
CORNERSTONE TAX-FREE MONEY MARKET FUND
(A SERIES OF CORNERSTONE FIXED INCOME FUNDS)
CORNERSTONE U.S. GOVERNMENT STRATEGIC INCOME FUND
(A SERIES OF CORNERSTONE FIXED INCOME FUNDS)
CORNERSTONE NEW YORK MUNI FUND
(A SERIES OF CORNERSTONE FUNDS, INC.)
CORNERSTONE CALIFORNIA MUNI FUND
SUPPLEMENT TO THE PROSPECTUSES AND STATEMENTS OF ADDITIONAL INFORMATION OF THE
ABOVE FUNDS EACH DATED APRIL 30, 1999 AND THE STATEMENT OF ADDITIONAL
INFORMATION OF THE CORNERSTONE U.S. GOVERNMENT STRATEGIC INCOME FUND DATED
MAY 5, 1999
THE FOLLOWING REPLACES CERTAIN INFORMATION CONTAINED IN THE PROSPECTUSES AND
STATEMENTS OF ADDITIONAL INFORMATION OF THE FUNDS.
Each Fund's Board recently voted to approve Tripp & Co., Inc. as the new
distributor of the shares of each Fund (the "Distributor"). Cresvale
International (US) LLC no longer acts as distributor to the Funds. The
Distributor is located at 40 Rector Street, New York, New York 10006. Pursuant
to each Fund's Rule 12b-1 Plan under the Investment Company Act of 1940, as
amended, the Funds pay the Distributor a monthly fee of $5,000 which is
allocated pro rata among the Funds based on each Fund's average daily net asset
value as compensation for the services provided by the Distributor.
In addition to the above change, the Board also voted to appoint Deloitte &
Touche LLP as new independent auditors to the Funds and the law firm of Willkie
Farr & Gallagher as counsel to the Funds.
Dated: December 22, 1999
