VISION TREASURY MONEY MARKET FUND VISION MONEY MARKET FUND VISION NEW YORK
TAX-FREE MONEY MARKET FUND VISION U.S. GOVERNMENT SECURITIES FUND VISION NEW
YORK MUNICIPAL INCOME FUND VISION LARGE CAP VALUE FUND VISION MID CAP STOCK FUND
VISION LARGE CAP GROWTH FUND VISION LARGE CAP CORE FUND (PORTFOLIOS OF VISION
GROUP OF FUNDS,
INC.)
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SUPPLEMENT TO THE PROSPECTUSES
A Special Meeting of Shareholders of Vision Group of Funds, Inc. (the
"Corporation") will be held at 5800 Corporate Drive, Pittsburgh, Pennsylvania
15237-7000 on October 23, 2000 at 2:00 p.m., Eastern time. At this meeting,
shareholders will be asked to vote on the changes described below. If approved
by shareholders, these changes will take effect as of October 26, 2000.
Shareholders will be notified if any of these changes are not approved. Please
keep this supplement for your records.
1. To elect Directors of the Corporation;
2. To ratify the selection of Ernst & Young LLP as the independent
auditors of the Corporation;
3. To approve amendments to certain of the Funds' fundamental investment
policies:
(a) To amend the Funds' fundamental investment policies regarding
diversification (applies to the Money Market Fund, New York Money
Market Fund, Government Securities Fund and Large Cap Value Fund
ONLY);
(b) To amend the Funds' fundamental investment policies regarding
borrowing money and issuing senior securities (applies to all
Funds EXCEPT the Mid Cap Stock Fund, Large Cap Growth Fund and
Large Cap Core Fund);
(c) To amend the Funds' fundamental investment policies regarding
investments in real estate (applies to all Funds EXCEPT the
Mid Cap Stock Fund, Large Cap Growth Fund and Large Cap Core
Fund);
(d) To amend the Funds' fundamental investment policies regarding
investments in commodities (applies to all Funds EXCEPT the
Mid Cap Stock Fund, Large Cap Growth Fund and Large Cap Core
Fund);
(e) To amend the Funds' fundamental investment policies regarding
underwriting securities (applies to all Funds EXCEPT the Mid
Cap Stock Fund, Large Cap Growth Fund and Large Cap Core
Fund);
(f) To amend the Funds' fundamental investment policies regarding
lending (applies to all Funds EXCEPT the Mid Cap Stock Fund,
Large Cap Growth Fund and Large Cap Core Fund); and
(g) To amend the Funds' fundamental investment policies regarding
concentration of the Funds' investments in the securities of
companies in the same industry (applies to all Funds EXCEPT
the Mid Cap Stock Fund, Large Cap Growth Fund and Large Cap
Core Fund);
4. To approve amendments to, and the reclassification of, certain of the
Funds' fundamental investment policies:
(a) To amend, and to reclassify as non-fundamental, the Funds'
fundamental investment policies regarding buying securities on
margin (applies to all Funds EXCEPT the Mid Cap Stock Fund,
Large Cap Growth Fund and Large Cap Core Fund);
(b) To amend, and to reclassify as non-fundamental, the Funds'
fundamental investment policies regarding pledging assets
(applies to all Funds EXCEPT the Mid Cap Stock Fund, Large Cap
Growth Fund and Large Cap Core Fund);
(c) To amend, and to reclassify as non-fundamental, the Funds'
fundamental investment policies regarding investing in
securities of other investment companies (applies to the
Treasury Fund and Money Market Fund ONLY); and
(d) To amend, and to reclassify as non-fundamental, the Funds'
fundamental investment policies regarding investing in
restricted securities (applies to the Treasury Fund and Money
Market Fund only);
5. To approve the elimination of certain of the Funds' fundamental
investment policies:
(a) To eliminate the Funds' fundamental investment policies
regarding selling securities short (applies to all Funds
EXCEPT the Mid Cap Stock Fund, Large Cap Growth Fund and Large
Cap Core Fund);
(b) To eliminate the Funds' fundamental investment policies
regarding investing in issuers whose securities are owned by
officers and directors (applies to the Treasury Fund and Money
Market Fund ONLY);
(c) To eliminate the Funds' fundamental investment policies
regarding investing in puts and calls (applies to the Treasury
Fund and Money Market Fund ONLY);
(d) To eliminate the Funds' fundamental investment policies
regarding investing in new issuers (applies to the Treasury
Fund and Money Market Fund ONLY);
(e) To eliminate the Funds' fundamental investment policies
regarding investing in voting securities and revenue bonds
(applies to the Treasury Fund and Money Market Fund ONLY);
(f) To eliminate the Funds' fundamental investment policies
regarding investing to exercise control (applies to the
Treasury Fund and Money Market Fund ONLY); and
(g) To eliminate the Funds' fundamental investment policies
regarding investing in oil, gas and minerals (applies to the
Treasury Fund and Money Market Fund ONLY);
6. To approve reclassifying as non-fundamental the Municipal Income
Fund's fundamental investment policy regarding investing in exempt
interest obligations (applies to the Municipal Income Fund ONLY); and
7. To approve the reorganization of the Corporation from a Maryland
corporation to a Delaware business trust.
To vote upon any other business that may properly come before the
Special Meeting or any adjournments thereof.
For more information on the above changes, please request a copy of the
Corporation's proxy statement.
August 30, 2000
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92830F802 92830F810 92830F794 92830F786 92830F851 92830F844 92830F778
92830F760
25787(8/00)
