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ONE GROUP-REGISTERED TRADEMARK- MUTUAL FUNDS
MONEY MARKET FUNDS COMBINED PROSPECTUS
Supplement dated August 23, 1999
to Prospectus dated March 18, 1999
The "Administrator and Sub-Administrator" paragraph on page 19 is replaced
in its entirety with the following:
THE ADMINISTRATOR AND SUB-ADMINISTRATOR
The One Group Services Company also serves as the Funds'
administrator. The One Group Services Company is responsible for
responding to shareholder inquiries and requests for information,
as well as providing regulatory compliance and reporting. For
these services, The One Group Services Company receives an annual
fee with respect to the Funds based on the aggregate assets of
all One Group Mutual Funds (other than assets of certain
institutional money market funds and the Group's Investor Funds)
calculated as follows: for the first $1.5 billion in aggregate
assets, The One Group Services Company receives an annual fee of
.20% of average daily net assets; the annual rate declines to
.18% on aggregate assets between $1.5 and $2 billion, and to .16%
on aggregate assets in excess of $2 billion. The fee is
calculated daily and paid monthly. Banc One Investment Advisors,
the Sub-Administrator, provides office space, equipment, and
facilities, as well as legal and regulatory support.
Please note that the above new text will not change the total expense ratio
of any of the Funds, as currently disclosed under "Shareholder Expenses" in the
Prospectus.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT
WITH THE PROSPECTUS FOR FUTURE REFERENCE.
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