PHOENIX-GOODWIN CALIFORNIA TAX EXEMPT BONDS, INC.
Supplement dated January 10, 2000 to
Statement of Additional Information dated August 27, 1999
The disclosure contained in the Statement of Additional Information dated August
27, 1999 is hereby supplemented as described below.
Under the heading "Portfolio Transactions and Brokerage," insert the
following paragraph as the last paragraph in that section on page 13:
The Adviser may use its broker/dealer affiliates, or other firms
that sell shares of the Fund, to buy and sell securities for the Fund,
provided they have the execution capability and that their commission
rates are comparable to those of other unaffiliated broker/dealers.
Directors of PXP Securities Corp. or its affiliates receive indirect
benefits from the Fund as a result of its usual and customary brokerage
commissions that PXP Securities Corp. may receive for acting as broker
to the Fund in the purchase and sale of portfolio securities. The
investment advisory agreement does not provide for a reduction of the
advisory fee by any portion of the brokerage fees generated by
portfolio transactions of the Fund that PXP Securities Corp. may
receive.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE STATEMENT OF ADDITIONAL
INFORMATION FOR FUTURE REFERENCE.
PXP 692B/PSC (01/00)
