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SEVEN SEAS SERIES
YIELD PLUS FUND
SUPPLEMENT DATED JUNE 24, 1996
TO PROSPECTUS DATED DECEMBER 29, 1995
Effective immediately the Portfolio Manager for the Seven Seas Series Yield Plus
Fund is Rena Williams, Vice President. Ms. Williams joined SSGA in February
1994 as a Mutual Funds Unit Head with responsibility for the Seven Seas Series
of money market funds and several short-term pooled funds. Prior to joining
SSGA, Rena was a Vice President and Senior Portfolio Manager with PNC Bank,
where she managed a variety of money market funds and open-end mutual funds, and
created the firm's first taxable fixed-income funds and corporate cash
accounts. She has also worked with the Calvert Group, investing for
government and corporate money market funds. Rena holds a BA in International
Relations from the University of Virginia.
