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DLJ WINTHROP FUNDS
SUPPLEMENT DATED OCTOBER 1, 1999 TO PROSPECTUS DATED FEBRUARY 23, 1999
1) The following language should replace the last sentence of the first
paragraph on page 33 of the DLJ Winthrop Funds' Prospectus:
AXA Investment Managers GS Ltd, a UK registered company with principal
offices at 60 Gracechurch Street, London EC3V 0HR, England serves as
sub-investment adviser for the International Funds and is a wholly-owned
subsidiary of AXA Investment Managers, an investment management subsidiary of
AXA ('AXA'). Effective October 1, 1999, due to an internal restructuring
within the AXA Investment Managers Group of Companies, AXA Investment
Managers GS Ltd assumed the sub-investment advisory responsibilities formerly
undertaken by AXA Asset Management Partenaires, a French wholly-owned
subsidiary of AXA Investment Managers. Investment personnel and policies
remain unchanged.
2) The CDSC waivers on Class B shares referenced in the DLJ Winthrop Funds'
Prospectus on page 41 have been amended to include the following:
(5) A total or partial redemption related to certain distributions from
retirement plans or accounts at age 70 1/2, which are permitted without
penalty pursuant to the Internal Revenue Code.
