<PAGE>
SEI INSTITUTIONAL INTERNATIONAL TRUST
EMERGING MARKETS EQUITY FUND
INTERNATIONAL EQUITY FUND
SUPPLEMENT DATED SEPTEMBER 22, 2000 TO THE
CLASS A PROSPECTUS DATED JANUARY 31, 2000
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN
THE CLASS A PROSPECTUS, AND SHOULD BE READ IN CONJUNCTION WITH SUCH PROSPECTUS.
The Board of Trustees of SEI Institutional International Trust (the "Trust"),
including all of the Trustees who are not "interested persons" (as defined in
the Investment Company Act of 1940, as amended (the "1940 Act")) of the Trust,
have appointed The Boston Company Asset Management, ("The Boston Company"), as
an additional Sub-Adviser to the Trust's Emerging Markets Equity Fund (the
"Fund"). The Boston Company was approved as a Sub-Adviser at the Quarterly
Meeting of the Board of Trustees held on September 18-19, 2000, and its
appointment does not require shareholder approval. This procedure for adding or
replacing Sub-Advisers was approved by the Trust's sole initial shareholder on
June 16, 1995, and was authorized by an exemptive order issued to the Trust by
the Securities and Exchange Commission on April 29, 1996.
In evaluating The Boston Company, the Trustees received written and oral
information from both SEI Investments Management Corporation ("SIMC") and The
Boston Company. SIMC recommended the selection of The Boston Company and
reviewed the considerations and the search process that led to its
recommendation. The Trustees also met with representatives of The Boston Company
and considered information about portfolio managers, investment philosophy,
strategies and process, as well as other factors. In appointing The Boston
Company, the Trustees carefully evaluated: (1) the nature and quality of the
services expected to be rendered to the Fund by The Boston Company; (2) the
distinct investment objective and policies of the Fund; (3) the history,
reputation, qualification and background of The Boston Company's personnel and
its financial condition; (4) its performance record; and (5) other factors
deemed relevant. The Trustees also reviewed the fees to be paid to The Boston
Company, including any benefits to be received by The Boston Company or its
affiliates in connection with soft dollar arrangements.
Under the Investment Sub-Advisory Agreement ("Sub-Advisory Agreement") between
SIMC (the "Adviser") and The Boston Company relating to the Fund, The Boston
Company makes investment decisions for the assets of the Fund allocated to it by
SIMC, and continuously reviews, supervises and administers the Fund's investment
program with respect to these assets. The Boston Company is independent of SIMC
and discharges its responsibilities subject to the supervision of SIMC and the
Trustees of the Trust, and in a manner consistent with the Funds' investment
objective, policies and limitations. The Sub-Advisory Agreement is substantially
similar to those in existence between the Adviser and the Trust's other
Sub-Advisers. Specifically, the duties to be performed, standard of care and
termination provisions of the Agreement are similar, to the other Agreements.
The Sub-Advisory Agreement will remain in effect until September 2002 (unless
earlier terminated), and will have to be approved annually thereafter by a
majority of the Trustees, including a majority of the Trustees who are not
"interested persons" of the Trust (as defined in the 1940 Act).
In connection with the appointment of The Boston Company as Sub-Adviser to the
Fund, the "Sub-Advisers" Section on page 11 of the Prospectus is amended by
inserting the following disclosure relating to The Boston Company:
THE BOSTON COMPANY ASSET MANAGEMENT, LLC: D. Kirk Henry, CFA and Senior Vice
President, serves as portfolio manager for a portion of the assets of the
Emerging Markets Equity Fund. Since joining The Boston Company in 1994,
Mr. Henry has had primary responsibility for the firm's Emerging Markets Equity
product and International Equity strategies.
The Boston Company, a limited liability company, was founded in 1970. The Boston
Company is a wholly-owned subsidiary of Mellon Financial Corporation through The
Boston Safe Deposit and Trust Company and The Boston Company, Inc. As of
June 30, 2000, The Boston Company had approximately $25.7 billion in assets
under management.
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Listed below are the names and principal occupations of the principal executive
offices of The Boston Company. The principal business address of the principal
executive officer and each of the directors, as it relates to their position at
The Boston Company, is One Boston Place, Boston, MA 02108.
<TABLE>
<CAPTION>
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NAME TITLE
<S> <C>
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Christopher M. Condron Chairman, Director
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Francis D. Antin President, Director, Chief Executive Officer
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Marie Stewart, CPA Senior Vice President, Chief of Administration
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John D. Kattar, CFA Senior Vice President, Director of Domestic Equity
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Sandor Cseh, CFA Senior Vice President, Director of International Investments
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David S. Hertan Senior Vice President, Director of Fixed Income Management
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Corey A. Griffin Senior Vice President, Director of Marketing & Client Services
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Thomas St. Jean Vice President, Director of Operations
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Jennifer Cassedy Vice President, Director of Risk Management & Compliance
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</TABLE>
The Adviser will pay The Boston Company a fee based on a percentage of the
average monthly market value of the assets of the Fund assigned to The Boston
Company.
--------------------------
At the same meeting, the Board of Trustees of SEI Institutional International
Trust (the "Trust"), including all of the Trustees who are not "interested
persons" of the Trust, voted to terminate Credit Suisse Asset Management Limited
("Credit Suisse") as a Sub-Adviser to the Trust's Emerging Markets Equity Fund
(the "Fund"). The Board determined to terminate Credit Suisse because of
significant changes to the Credit Suisse investment management team. This
termination does not require shareholder approval.
--------------------------
At the same meeting, the Board of Trustees of SEI Institutional International
Trust (the "Trust"), including all of the Trustees who are not "interested
persons" of the Trust, voted to terminate Coronation Asset Management
(Proprietary) Limited ("Coronation") as a Sub-Adviser to the Trust's Emerging
Markets Equity Fund (the "Fund"). The Board determined to terminate Coronation
because Coronation's expertise is concentrated in the South African market and
one of the other Sub-Advisers to the Fund, Schroder Investment Management North
America, can provide coverage of an expanded area, including Emerging European,
Middle Eastern and African markets. This termination does not require
shareholder approval.
--------------------------
At the same Quarterly Meeting, the Trustees appointed Martin Currie, Inc.
("Martin Currie") as an additional Sub-Adviser to the Trust's International
Equity Fund (the "Fund"). Martin Currie's appointment does not require
shareholder approval.
In evaluating Martin Currie, the Trustees received written and oral information
from both SEI Investments Management Corporation ("SIMC") and Martin Currie.
SIMC recommended the selection of Martin Currie and reviewed the considerations
and the search process that led to its recommendation. The Trustees also met
with representatives of Martin Currie and considered information about portfolio
managers, investment philosophy, strategies and process, as well as other
factors. In appointing Martin Currie, the Trustees carefully evaluated: (1) the
nature and quality of the services expected to be rendered to the Fund by Martin
Currie; (2) the distinct investment objective and policies of the Fund; (3) the
history, reputation, qualification and background of Martin Currie's personnel
and its financial condition; (4) its performance record; and (5) other factors
deemed relevant. The Trustees also reviewed the fees to be paid to Martin
Currie, including any benefits to be received by Martin Currie or its affiliates
in connection with soft dollar arrangements.
Under the Investment Sub-Advisory Agreement ("Sub-Advisory Agreement") between
SIMC (the "Adviser") and Martin Currie relating to the Fund, Martin Currie makes
investment decisions for the assets of the Fund allocated to it by SIMC, and
continuously reviews, supervises and administers the Fund's investment program
with respect to these assets. Martin Currie is independent of SIMC and
discharges its responsibilities subject to the supervision of SIMC and the
Trustees of the Trust, and in a manner consistent with the Fund's investment
objective, policies and limitations. The Sub-Advisory Agreement is substantially
similar to those in existence between the Adviser and the Trust's other
Sub-Advisers. Specifically, the duties to be performed, standard of care and
termination provisions of the Agreement are similar, to the other Agreements.
The Sub-Advisory Agreement will remain in effect until September 2002 (unless
earlier terminated), and will have to be approved annually thereafter by a
majority of the Trustees, including a majority of the Trustees who are not
"interested persons" of the Trust (as defined in the 1940 Act).
<PAGE>
In connection with the appointment of Martin Currie as Sub-Adviser to the Fund,
the "Sub-Advisers" Section on page 11 of the Prospectus is amended by inserting
the following disclosure relating to Martin Currie:
MARTIN CURRIE, INC.: Michael Thomas and Keith Donaldson serve as portfolio
managers for a portion of the assets of the International Equity Fund.
Mr. Thomas joined Martin Currie in 1989, and has 26 years of investment
experience. Prior to joining Martin Currie in 1997, Mr. Donaldson was the vice
president and head of Japanese equity sales at Morgan Stanley from 1996 to 1997,
and head of research at Salomon Brothers in Tokyo from 1990 to 1996.
Mr. Donaldson has 20 years of investment experience.
Martin Currie, a wholly-owned subsidiary of Martin Currie Ltd., was founded in
1978. As of June 30, 2000, Martin Currie had approximately $16.7 billion in
total assets under management.
Listed below are the names and principal occupations of the principal executive
offices of Martin Currie. The principal business address of the principal
executive officer and each of the directors, as it relates to their position at
Martin Currie, is Saltire Court, 20 Castle Terrace, Edinburgh, Scotland
EH1 2ES.
<TABLE>
<CAPTION>
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NAME TITLE
<S> <C>
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Martin R. Brown Director of Operations
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Charles J. P. Dawnay Director, Vice President
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James M. A. Fairweather Director, Vice President
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James K. R. Falconer Director, Vice President
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Timothy J. D. Hall Director, Vice President
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Anthony P. Hanlon Director, Vice President
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Steven N. Johnson Director, Vice President
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Julian M. C. Livingston General Counsel
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Patrick J. Scott-Plummer Director, President
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Michael W. Thomas Director, Vice President
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James G. Wilson Director, Vice President
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Colin Winchester Chief Financial Officer
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Allan D. MacLeod Director
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</TABLE>
The Adviser will pay Martin Currie a fee based on a percentage of the average
monthly market value of the assets of the Fund assigned to Martin Currie.
--------------------------
At the same meeting, the Trustees appointed Jardine Fleming International
Management, Inc. ("JFIMI") as an additional Sub-Adviser to the Trust's
International Equity Fund (the "Fund"). JFIMI's appointment does not require
shareholder approval.
In evaluating JFIMI, the Trustees received written and oral information from
both SEI Investments Management Corporation ("SIMC") and JFIMI. SIMC recommended
the selection of JFIMI and reviewed the considerations and the search process
that led to its recommendation. The Trustees also met with representatives of
JFIMI and considered information about portfolio managers, investment
philosophy, strategies and process, as well as other factors. In appointing
JFIMI, the Trustees carefully evaluated: (1) the nature and quality of the
services expected to be rendered to the Fund by JFIMI; (2) the distinct
investment objective and policies of the Fund; (3) the history, reputation,
qualification and background of Jardine's personnel and its financial condition;
(4) its performance record; and (5) other factors deemed relevant. The Trustees
also reviewed the fees to be paid to JFIMI, including any benefits to be
received by JFIMI or its affiliates in connection with soft dollar arrangements.
Under the Investment Sub-Advisory Agreement ("Sub-Advisory Agreement") between
SIMC (the "Adviser") and JFIMI relating to the Fund, JFIMI makes investment
decisions for the assets of the Fund allocated to it by SIMC, and continuously
reviews, supervises and administers the Fund's investment program with respect
to these assets. JFIMI is independent of SIMC and discharges its
responsibilities subject to the supervision of SIMC and the Trustees of the
Trust, and in a manner consistent with the Fund's investment objective, policies
and limitations. The Sub-Advisory Agreement is substantially similar to those in
existence between the Adviser and the Trust's other Sub-Advisers. Specifically,
the duties to be performed, standard of care and termination provisions of the
Agreement are similar, to the other Agreements. The Sub-Advisory Agreement will
remain in effect until September 2002 (unless earlier terminated), and will have
to be approved annually thereafter by a majority of the Trustees, including a
majority of the Trustees who are not "interested persons" of the Trust (as
defined in the 1940 Act).
<PAGE>
In connection with the appointment of JFIMI as Sub-Adviser to the Fund, the
"Sub-Advisers" Section on page 11 of the Prospectus is amended by inserting the
following disclosure relating to JFIMI:
JARDINE FLEMING INTERNATIONAL MANAGEMENT, INC.: Piers Litherland serves as the
portfolio manager for a portion of the assets of the International Equity Fund.
Mr. Litherland has been with JFIMI for 13 years, and has over 22 years of
investment experience.
JFIMI was founded in 1992 and is a wholly-owned subsidiary of Jardine Fleming
Group Limited. Jardine Fleming Group Limited is a subsidiary of Robert Fleming
(jointventures) (Luxenberg) S.A., which is a subsidiary of Robert Fleming
(Overseas) No. 3 Ltd. Robert Fleming (Overseas) No. 3 Ltd. is a subsidiary of
Copthall Overseas Limited, which is a subsidiary of Robert Fleming Holdings Ltd.
JFIMI's principal address is 47/F, Jardine House, Connaugh Place, Hong Kong. As
of June 30, 2000, JFIMI had approximately $267 million in assets under
management.
Listed below are the names and principal occupations of the principal executive
offices of JFIMI. The principal business address of the principal executive
officer and each of the directors, as it relates to their position at Jardine,
is 47/F, Jardine House, 1 Connaught Place, Hong Kong.
<TABLE>
<CAPTION>
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NAME TITLE
<S> <C>
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Mark B. E. White Chief Executive Officer/ President/ Director
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Andrew Douglas Eu Chief Operations Officer/ Secretary
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Hugh Moss Gerald Forsgate CBE Director
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Michael David Testa Director
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</TABLE>
The Adviser will pay JFIMI a fee based on a percentage of the average monthly
market value of the assets of the Fund assigned to Jardine.
--------------------------
At the same meeting, the Board of Trustees of SEI Institutional International
Trust (the "Trust"), including all of the Trustees who are not "interested
persons" of the Trust, voted to terminate SG Pacific Asset Management, Inc./ SGY
Asset Management (Singapore) Ltd./SG Yamaichi Asset Management Co., Ltd. ("SG
Pacific") as a Sub-Adviser to the Trust's International Equity Fund (the
"Fund"). The Board determined to terminate SG Pacific based on a decision to
replace SGY with regional specialists. This termination does not require
shareholder approval.
--------------------------
The prospectus is hereby amended to reflect these changes.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
