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GOLDMAN SACHS TRUST
GOLDMAN SACHS MONEY MARKET FUNDS
ILA, ILA CLASS B, ILA CLASS C, ILA ADMINISTRATION AND ILA SERVICE UNITS; ILA
CASH MANAGEMENT SHARES; FST, FST PREFERRED, FST SERVICE AND FST ADMINISTRATION
SHARES
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SUPPLEMENT DATED SEPTEMBER 1, 1998 TO PROSPECTUSES DATED MAY 1, 1998
PURCHASE OF SHARES (UNITS)--ALL ILA AND FST CLASSES
The description of share (unit) purchases in the ILA and FST Prospectuses
is modified as follows:
Shares (units) may be purchased on any Business Day at the net asset
value next determined after receipt and acceptance of a purchase order
in proper form by the Trust or its authorized designee. Shares (units)
begin earning dividends after an order is accepted and payment in
federal funds is received by the Trust.
TRANSFER AGENCY FEES--ALL ILA CLASSES
The transfer agency fee payable by each ILA share class is equal, on an
annual basis, to 0.04% of the average daily net assets of the applicable
class.
DISTRIBUTION AND SERVICE PLANS--ILA CLASS B AND CLASS C UNITS ONLY
The Distribution Plans and Authorized Dealer Service Plans for ILA Class B
and Class C Units of the ILA Prime Obligations Portfolio have been combined
into single Distribution and Service Plans. The provisions of the Plans
have not been materially changed, and the fees payable under the Plans are
the same as stated in the Prospectus.
MANAGEMENT--THE ADVISER
The Goldman Sachs Group, L.P., which controls the Adviser, has announced
that it will pursue an initial public offering of the firm during the
fourth quarter of 1998; if the public offering is consummated, the Goldman
Sachs Group, L.P. will merge into the new public company, which will be
called The Goldman Sachs Group, Inc.
