Dear Shareholder:
The supplement to the prospectus below modifies the investment strategy of
Firstar Growth and Income Fund. Previously, the Fund could not purchase a
security that did not pay a dividend. The Fund can now purchase non-dividend
paying securities provided that 80% of the Fund's market value remains invested
in securities that pay dividends. This modification reflects the changes that
have taken place in the underlying benchmarks of the Fund (for example,
approximately 19% of the S&P 500 Index consists of non-dividend paying
securities) and will give the Fund greater flexibility to participate in all
sectors of the Index.
(THE FOREGOING LANGUAGE IS NOT PART OF THE PROSPECTUS.)
FIRSTAR FUNDS
Growth and Income Fund
December 28, 1999
Supplement to the Prospectus dated March 1, 1999
(as amended May 24, 1999)
PAGE 31
The first paragraph under the heading of "Common Stocks" is replaced with the
following:
The Fund selects common stocks primarily from a universe of domestic companies
that have established dividend-paying histories. During normal market
conditions, at least 50% of the Fund's net assets will be invested in equities.
The Fund will not purchase a non-dividend paying security if immediately after
giving affect to such purchase less than 80% of the net assets of the Fund will
be invested in non-dividend paying securities.
