CAPSTONE NIKKO JAPAN FUND
A SERIES OF CAPSTONE INTERNATIONAL SERIES TRUST
SUPPLEMENT DATED MAY 22, 1997
TO
PROSPECTUS DATED FEBRUARY 28, 1997
Effective May 12, 1997, portfolio decisions for the Fund are made by the
Portfolio Manager, Yoichi Kuwata. Mr. Kuwata is a graduate of Aoyama Gakuin
University with a B.A. in Economics. In 1984 he joined Nikko International
Capital Management Co., Ltd., parent company of the Adviser, as Portfolio
Manager - Global Fixed Income. Since that time, he has served in various
capacities at both the parent company and the Adviser, primarily in the areas of
portfolio management and corporate finance. He presently serves as a Director
and is the Chief Financial Officer of the Adviser, a position he has held since
May, 1997.
