March 2, 1999


                    LEXINGTON RAMIREZ GLOBAL INCOME FUND
                                
                               SUPPLEMENT TO 
            PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION 
                             DATED MAY 1, 1998
                                


Effective,  May 1, 1999, MFR Advisors Inc. will no longer serve as 
sub-investment adviser to the Lexington Ramirez Global Income Fund.  The 
Fund will continue to be managed by Lexington Management Corporation, its 
investment adviser.  Concurrent with this change, the name of the Fund will 
be changed to Lexington Global Income Fund.  Denis P. Jamison of Lexington 
Management Corporation will continue in his present capacity as Portfolio 
Manager of the Fund.     



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