<PAGE>
497(e) File Nos. 2-90518 and 811-4006
SUPPLEMENT DATED JANUARY 15, 1998
TO
STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 1997
LANDMARK BALANCED FUND
LANDMARK EQUITY FUND
LANDMARK SMALL CAP EQUITY FUND
THE FOURTH PARAGRAPH OF THE SECTION OF THE STATEMENT OF ADDITIONAL INFORMATION
ENTITLED "DETERMINATION OF NET ASSET VALUE; VALUATION OF SECURITIES; ADDITIONAL
PURCHASE AND REDEMPTION INFORMATION" ON PAGE 14 IS HEREBY DELETED AND REPLACED
BY THE FOLLOWING:
Trading in securities on most non-U.S. exchanges and over-the-counter
markets is normally completed before the close of regular trading on the
Exchange and may also take place on days on which the Exchange is closed. If
events materially affecting the value of non-U.S. securities occur between the
time when the exchange on which they are traded closes and the time when a
Fund's net asset value is calculated, such securities may be valued at fair
value in accordance with procedures established by and under the general
supervision of the Board of Trustees of each Trust.
<PAGE>
497(e) File Nos. 2-90518 and 811-4006
SUPPLEMENT DATED JANUARY 15, 1998
TO
STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 1997
CITISELECT(R) FOLIO 200
CITISELECT(R) FOLIO 300
CITISELECT(R) FOLIO 400
CITISELECT(R) FOLIO 500
THE THIRD PARAGRAPH OF THE SECTION OF THE STATEMENT OF ADDITIONAL INFORMATION
ENTITLED "DETERMINATION OF NET ASSET VALUE; VALUATION OF SECURITIES; ADDITIONAL
REDEMPTION INFORMATION" ON PAGE 16 IS HEREBY DELETED AND REPLACED BY THE
FOLLOWING:
Trading in securities on most foreign exchanges and over-the-counter
markets is normally completed before the close of regular trading on the
Exchange and may also take place on days on which the Exchange is closed. If
events materially affecting the value of foreign securities occur between the
time when the exchange on which they are traded closes and the time when a
Fund's net asset value is calculated, such securities may be valued at fair
value in accordance with procedures established by and under the general
supervision of the Board of Trustees of the Trust.
