American AAdvantage Funds - Institutional Class
Supplement dated July 7, 1999 to the Prospectus dated March 1, 1999
The second set of bullet points under "General Policies" on page 32 of the
Prospectus is hereby replaced with the following:
The Funds reserve the right to:
reject any order for the purchase of shares and to limit or suspend, without
prior notice, the offering of shares,
modify or terminate the exchange privilege at any time,
terminate the exchange privilege of any shareholder who makes more than one
exchange in and out of a Fund (other than the Money Market Funds) during
any three month period, and
seek reimbursement from the shareholder for any related loss incurred if payment
for the purchase of Fund shares by check does not clear the shareholder's
bank.
