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GOLDMAN SACHS TRUST
GOLDMAN SACHS FINANCIAL SQUARE FUNDS
FST Shares
FST Service Shares
FST Administration Shares
FST Preferred Shares
FST Select Shares
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Supplement dated January 2, 2001 to
Prospectuses dated May 1, 2000
Under the section titled "Dividends," the chart is revised to indicate a
dividend declaration time of 5:00 p.m. (New York time) for the Money Market
Fund. Also, the last paragraph of this section is revised as follows:
The income declared as a dividend for the Prime Obligations, Treasury
Obligations, Government and Money Market Funds is based on estimates of
net investment income for each Fund. Actual income may differ from
estimates, and differences, if any, will be included in the calculation of
subsequent dividends.
Under the section titled "Shareholder Guide--How To Buy Shares," the chart
under "When Do Shares Begin Earning Dividends?" is revised to reflect for the
Money Market Fund:
If an effective order and federal funds are received: Dividends begin:
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Same business day
. By 5:00 p.m. New York time
Next business day
. After 5:00 p.m. New York time
Under the section titled "Shareholder Guide--How To Buy Shares," the chart
under "How Are Shares Priced?" is revised to reflect for the Money Market
Fund:
Fund: NAV Calculated:
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Money Market As of 5:00 p.m. New York time on each business
day
Under the section titled "Shareholder Guide--How To Sell Shares," the
chart under "When Will Redemption Proceeds Be Wired?" is revised to reflect
for the Money Market Fund:
Redemption Request Redemption Proceeds: Dividends:
Received:
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Wired same business Not earned on day request
. By 5:00 p.m. day is received
New York time
Earned on day request is
. After 5:00 p.m. Wired next business received
New York time day
