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GMO TRUST
SUPPLEMENT DATED FEBRUARY 1, 2000
TO
PELICAN FUND PROSPECTUS DATED JUNE 30, 1999
AS AMENDED AUGUST 30, 1999
The Pelican Fund (the "Fund") is pleased to announce that, effective
February 1, 2000, Grantham, Mayo, Van Otterloo & Co. LLC ("GMO"), the Fund's
investment manager, has agreed to reduce its compensation under the investment
advisory agreement between GMO and the Fund from 0.90% to 0.75%. In addition,
and also effective as of February 1, 2000, GMO has contractually agreed to
reimburse the Fund with respect to certain Fund expenses at least through June
30, 2000 to the extent that the Fund's total annual operating expenses
(excluding brokerage commissions and other investment-related costs, hedging
transaction fees, extraordinary, non-recurring and certain other unusual
expenses (including taxes) and transfer taxes) would otherwise exceed 0.75% of
the Fund's average daily net assets.
