SUPPLEMENT TO THE SPARTAN(registered trademark) U.S. EQUITY INDEX FUND
APRIL 18, 1998
PROSPECTUS
The following information supplements information found under the
heading "BT and Its Affiliates" in the "The Fund in Detail" section
beginning on page P-9.
On March 11, 1999, BT announced that it had reached an agreement with
the United States Attorney's Office in the Southern District of New
York to resolve an investigation concerning inappropriate transfers of
unclaimed funds and related record keeping problems that occurred
between 1994 and early 1996. Pursuant to its agreement with the U.S.
Attorney's Office, BT pleaded guilty to misstating entries in the
bank's books and records and agreed to pay a $60 million fine to
federal authorities. Separately, BT agreed to pay a $3.5 million fine
to the State of New York. The events leading up to the guilty pleas
did not arise out of the investment advisory or mutual fund management
activities of BT or its affiliates.
As a result of the plea, absent an order from the SEC, BT would not be
able to continue to provide investment advisory services to the fund.
The SEC has granted a temporary order to permit BT and its affiliates
to continue to provide investment advisory services to registered
investment companies. There is no assurance that the SEC will grant a
permanent order.
