CHURCHILL CASH RESERVES TRUST
Supplement to the prospectus dated January 31, 2000
The holders of more than 99% of the Trust's shares have
advised the Trust that they intend to redeem their shares on
January 26, 2001, which will leave the Trust with virtually no
assets. Management of the Trust has concluded that it will not be
practical at that time for the Trust to continue operations. The
Trust will terminate operations as soon as practicable
thereafter, affording each shareholder the opportunity to close
its account.
Effective on January 26, 2001, the Trust will no longer
offer shares to the public.
The date of this supplement is December 6, 2000
