FREMONT MUTUAL FUNDS INC
497, 2000-03-08
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                           FREMONT MUTUAL FUNDS, INC.

                         Supplement dated March 8, 2000
                                     to the
                       Prospectus dated February 10, 2000

FOR SHAREHOLDERS OF THE FREMONT U.S. MICRO-CAP FUND ONLY:

The Fremont U.S.  Micro-Cap  Fund (the  "Fund")  will close to new  investors on
March 10, 2000. Shareholder who own shares of the Fund as of March 10, 2000, may
continue to purchase  additional  shares in their existing  accounts.  Financial
advisors and  institutions  that have existing client assets in the Fund may add
to their client accounts as well as open new accounts for other clients. Fremont
Investment Advisors,  Inc., as the advisor of the Fund, may reopen and close the
Fund to certain types of new investors in the future.

After March 10th,  shareholders  that own other Fremont  Mutual  Funds,  may not
exchange  these shares into the Fremont U.S.  Micro-Cap Fund unless they have an
existing Fremont U.S. Micro-Cap Fund account.


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