FIRST INVESTORS CASH MANAGEMENT FUND, INC.
               FIRST INVESTORS TAX-EXEMPT MONEY MARKET FUND, INC.
                          SUPPLEMENT DATED JULY 9, 1999
           TO STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 30, 1999


The following replaces item 7 under the section "Class A Shares May be Purchased
Without a Sales  Charge" on page 4 of the  Shareholder  Manual  dated  April 22,
1999:

         7: With the  liquidation  proceeds from a First Investors Life Variable
         Annuity  Fund A,  C, or D  contract  or from a First  Investors  Single
         Premium  Retirement  Annuity contract within one year of the contract's
         maturity date.



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