COVA SERIES TRUST
Supplement dated October 28, 1998
to Prospectus dated May 1, 1998
RISK FACTORS APPLICABLE TO YEAR 2000 ISSUE
Like other mutual funds, as well as other financial and business organizations
around the world, the Trust could be adversely affected if the computer systems
used by the Adviser, the Sub-Advisers and other service providers, in performing
their administrative functions do not properly process and calculate
date-related information and data as of and after January 1, 2000. This is
commonly known as the "Year 2000 Issue." The Adviser and the Sub-Advisers are
taking steps that they believe are reasonably designed to address the Year 2000
Issue with respect to computer systems that they use and to obtain reasonable
assurances that comparable steps are being taken by the Trust's other major
service providers. At this time, however, there can be no assurance that these
steps will be sufficient to avoid any adverse impact to the Trust.
