HEITMAN REAL ESTATE FUND
A Series of Heitman Securities Trust
Supplement dated March 10, 1998 to Prospectuses Dated May 1,
1997
On January 6, 1998, Heitman Securities Trust (the
"Trust") on behalf of the Heitman Real Estate Fund (the
"Fund") entered into an Agreement and Plan of Reorganization
(the "Agreement") with UAM Funds Trust (the "UAM Trust") on
behalf of the Heitman/PRA Real Estate Portfolio (the "UAM
Portfolio"). The Agreement provides for (i) the transfer of
all the assets of the Fund to the UAM Portfolio in exchange
for shares of the UAM Portfolio and the assumption by the
UAM Portfolio of all liabilities of the Fund and (ii) the
distribution of shares of the UAM Portfolio to the
then-existing shareholders of the Fund in liquidation of the
Fund (the "Reorganization"). The UAM Portfolio is a newly
formed series of the UAM Trust with no prior operations that
has been established for the purpose of effecting the
Reorganization and continuing the operations of the Fund
after the Reorganization. The UAM Portfolio has the
identical investment objective as the Fund and substantially
the same investment policies as the Fund. Heitman/PRA
Securities Advisors, Inc., the investment adviser of the
Fund, will also serve as the investment adviser of the UAM
Portfolio.
Under the Agreement, consummation of the Reorganization
is subject to satisfaction of various conditions, including
approval by shareholders of the Fund. At a special meeting
of shareholders of the Fund held on February 27, 1998,
shareholders of the Fund approved the Agreement. It is
anticipated that the Reorganization will be consummated on
or prior to June 30, 1998. Shareholders of the Fund will
receive notice upon consummation of the Reorganization.
Effective March 2, 1998, the Trust has also entered
into agreements with (i) UAM Fund Services, Inc. ("UAMFSI"),
a wholly owned subsidiary of United Asset Management
Corporation ("UAM") to provide administrative, fund
accounting, dividend disbursing and transfer agency
services; and (ii) The Chase Manhattan Bank, N.A. ("Chase")
to provide custody services. UAMFSI has subcontracted with
Chase Global Fund Services Company ("CGFSC"), an affiliate
of Chase, to perform certain of these services. The
principal offices of UAMFSI and UAMFDI are located at 211
Congress Street, Boston, MA 02110 and the principal office
of CGFSC is located at 73 Tremont Street , Boston, MA 02108.
Effective March 10, 1998, the Trust entered into an
agreement with ACG Capital Corporation ("ACG") to provide
distribution services with respect to the Institutional
Class shares of the Fund. ACG also serves as distributor of
the Advisor Class shares of the Fund.
Purchases and redemptions of Advisor Class and
Institutional Class shares should be made as follows:
Applications to purchase shares of the Fund should be sent
to: Heitman Securities Trust, c/o Chase Global Funds
Services Company, P.O. Box 2798, Boston, MA 02208-2798. To
purchase shares by wire, telephone the Heitman Securities
Trust at 1-800-435-1405 and provide the account name,
address, telephone number, social security or taxpayer
identification number, the Fund's name, the amount being
wired and the name of the bank wiring the funds. Wire
transfers should be sent to: The Chase Manhattan Bank, ABA
#021000021, Heitman Real Estate Fund Institutional
Class/Advisor Class, DDA Acct. #9102772952, Your Account
Number, Your Account Name, Wire Control Number (which will
be assigned by Chase when you call). Additional investments
can be made at any time by mailing a check to Heitman
Securities Trust at the above address or by wiring money to
Chase using the instructions outlined above. Requests for
redemptions should be addressed to the Heitman Securities
Trust at the above address.
For all other inquiries regarding shareholder
services, please call Heitman Securities Trust at
1-800-435-1405.
HEIT398.DOC
