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UAM FUNDS THE RICE, HALL, JAMES PORTFOLIOS INSTITUTIONAL CLASS SHARES Rice, Hall, James Small Cap Portfolio Rice Hall James Small/Mid Cap Portfolio Supplement dated August 28, 1997 to the Prospectus dated January 3, 1997 The information under the heading "PORTFOLIO TURNOVER" on page 10 is amended to reflect that portfolio turnover rates for the Small Mid/Cap Portfolio and the Small Cap Portfolio are not anticipated to exceed 150% and 250% respectively.
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