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DLJ WINTHROP FUNDS
SUPPLEMENT DATED OCTOBER 27, 1999 TO PROSPECTUS DATED FEBRUARY 23, 1999
INCORPORATING SUPPLEMENTS DATED JULY 7, 1999 AND OCTOBER 1, 1999
1) Effective October 27, 1999, Wood, Struthers & Winthrop Management Corp. has
changed its name to DLJ Asset Management Group, Inc.
2) For the period November 1, 1999 through October 31, 2000, the adviser of each
of the below referenced DLJ Winthrop Funds has undertaken in writing to reduce
its management fees and reimburse operating expenses in order to limit the Total
Fund Operating Expenses to the below referenced percentage of daily net assets.
After October 31, 2000, the adviser may, in its sole discretion, determine to
discontinue this practice with respect to any Fund.
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<S> <C> <C> <C> <C> <C>
Fixed Income Fund Class A 1.00% Municipal Trust Fund Class A 1.00%
Class B 1.70% Class B 1.70%
Class D 0.70%
International Equity Fund Class A 2.15% Developing Markets Fund Class A 2.15%
Class B 2.90% Class B 2.90%
Class D 1.90%
High Income Fund Class A 1.10% Municipal Money Fund .90%
Class B 1.85% U.S. Government Money Fund .90%
Class D 0.85%
</TABLE>
3) 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.
4) 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.
5) The new address of our Servicing Agent is:
First Data Investor Services Group, Inc.
211 South Gulph Road
P.O. Box 61787
King of Prussia, PA 19406
Please use this address for Fund correspondence or for additional
investments made by a shareholder who has established his/her account
outside of a broker-dealer.
Additional investments made by bank wire should be sent using the following
instructions:
Boston Safe Deposit & Trust
ABA#: 011001234
Credit: (Insert Name of Your Fund)
Acct#: 006068
FBO Shareholder name and account number
