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RS INVESTMENT TRUST
PROSPECTUS SUPPLEMENT
TO PROSPECTUS DATED MAY 3, 1999
(AS REVISED DECEMBER 13, 1999)
RS MICROCAP GROWTH FUND
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The first sentence of the section "Principal investment strategies" on page 7 of
the Prospectus is replaced with the following:
"The Fund invests primarily in 'micro-cap' companies with market
capitalizations of $750 million or less at the time of investment that, in
RSIM, L.P.'s opinion, have potential for long-term capital appreciation."
February 29, 2000
