SSgA FUNDS
SUPPLEMENT DATED NOVEMBER 8, 2000
SSgA AGGRESSIVE EQUITY FUND
PROSPECTUS DATED DECEMBER 17, 1999
(AS SUPPLEMENTED THROUGH JULY 14, 2000)
Notice to Taxable Investors. The SSgA Aggressive Equity Fund has a high
portfolio turnover rate and is managed without regard to the tax consequences to
shareholders. In the past, the Fund has realized substantial taxable gains and
is likely to do so in the future. As of the date of this supplement, the Fund
has substantial undistributed realized gains that will be distributed to
shareholders prior to year-end. An investor that purchases shares of the Fund
prior to such distribution will be required to pay taxes on the amount of the
distribution even though the amount received is, in substance, a return of the
investor's investment capital. This treatment will apply regardless of whether
the distribution is received in cash or as additional shares of the Fund.
In light of these factors, the Fund may not be an appropriate investment for
taxable shareholders. Until such time as the realized gains have been
distributed, the Fund will make every effort to encourage existing taxable
shareholders to redeem their shares and will refuse to knowingly accept
purchases of shares by taxable shareholders.
