Rule 497(e) File Nos. 33-39538 and 811-4052
SUPPLEMENT
DATED AUGUST 25, 2000 TO
PROSPECTUS DATED DECEMBER 31, 1999
CitiFunds(R) Cash Reserves
CitiFunds(R) U.S. Treasury Reserves
CitiFunds(R) Tax Free Reserves
CitiFunds(R) California Tax Free Reserves
CitiFunds(R) Connecticut Tax Free Reserves
CitiFunds(R) New York Tax Free Reserves
CitiFunds U.S. Treasury Reserves, CitiFunds Tax Free Reserves, CitiFunds
California Tax Free Reserves, CitiFunds Connecticut Tax Free Reserves, and
CitiFunds New York Tax Free Reserves now offer two classes of shares each with
different shareholder servicing and distribution arrangements and fees.
Existing shares of these Funds have been classified as Class N shares. Only
Class N shares of these Funds are offered by this Prospectus.
Class B shares of CitiFunds Cash Reserves are no longer being offered, and
existing Class B shares have been converted to Class N shares without
imposition of any contingent deferred sales charges. Class N shares are subject
to lower fund expenses than Class B shares. CitiFunds Cash Reserves offers
three other classes of shares, two of which, Class A shares and Class N shares,
are offered by this Prospectus. The three classes of shares have different
shareholder servicing and distribution arrangements and fees.
