Eaton Vance Cash Management Fund
Eaton Vance Liquid Assets Fund
Eaton Vance Money Market Fund
Eaton Vance Tax Free Reserves
Supplement to Prospectus
dated
May 1, 1999
The following replaces the first paragraph under "Exchange Privilege" on page 10
of the prospectus:
Exchange Privilege. You may exchange your Cash Fund and Tax Free Reserves
shares for Class A shares of another Eaton Vance fund. These exchanges are
made at the public offering price (which generally includes the sales
charge applicable to Class A shares). You may exchange your Liquid Assets
and Money Market Fund shares for Class B shares of another Eaton Vance
fund. These exchanges are generally made at net asset value. If your Liquid
Assets or Money Market Fund shares were acquired in exchange for Class C
shares of another Eaton Vance Fund, such shares may be exchanged only for
shares of one or more of such funds. If your shares are subject to a CDSC,
the CDSC will continue to apply to your new shares at the same CDSC rate.
For purposes of the CDSC, your shares will continue to age from the date of
your original purchase.
August 26, 1999 MMFPS
