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Filed Pursuant to Rule 497(j)
Registration File No.: 33-15807
AUGUST 1, 1999
SELECTED U.S. GOVERNMENT INCOME FUND
AND
SELECTED DAILY GOVERNMENT FUND
AUTHORIZED PORTFOLIOS OF SELECTED CAPITAL PRESERVATION TRUST.
SUPPLEMENT TO PROSPECTUS
DATED MAY 1, 1999
The following information supplements and should be read in conjunction
with the section of the Funds' Prospectus entitled "Who is Responsible For Your
Selected Account."
Effective August 1, 1999, Creston King, CFA was named portfolio manager of
Selected U.S. Government Income Fund and Selected Daily Government Fund. Mr.
King joined Davis Selected Advisers, L.P. on June 30, 1999. Prior to joining
Davis Selected Advisers, L.P. Mr. King was a portfolio manager for U.S. Global
Investors, Inc. where he managed various money market funds and bond funds.
