BT INVESTMENT FUNDS
Latin American Equity Fund
- -----------------------------------------------------------------------------
Supplement to Prospectus dated January 31, 1997
Under the sub-section entitled "Portfolio Managers," on page 30, please
delete the biography of Maria-Elena Carrion in its entirety. Effective May,
1997, Michael Levy has taken over the day-to-day management of the Latin
American Equity Portfolio. As noted in the prospectus, Mr. Levy also heads
the Bankers Trust international active equity team.
July 1, 1997
<PAGE>
EDGEWOOD SERVICES, INC.
Distributor
Cusip #055922785
SUPP497 (7/97)
BT INVESTMENT FUNDS
Federated Investors
Federated Investors Tower
Pittsburgh, Pennsylvania 15222-3779
(412) 288-1900
July 3, 1997
Edgar Operations Branch
Securities and Exchange Commission
Division of Investment Management
450 Fifth Street, Northwest
Washington, DC 20549
RE: BT INVESTMENT FUNDS
Latin American Equity Fund
1933 Act File No. 33-07404
1940 Act File No. 811-4760
Dear Sir or Madam:
Pursuant to Rule 497(e) of the Securities Act of 1933, the Supplement
to the Prospectus dated January 31, 1997, as amended on July 1, 1997 is hereby
electronically transmitted.
Very truly yours,
/s/Kary Lechner
Kary Lechner
Compliance Analyst
Enclosures
