BLACKROCK FUNDS SM
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED JANUARY 28, 1999
The section "Investment Policies--Additional Information on Portfolio
Investments" is amended as follows:
The last sentence of the third paragraph under "Variable and Floating
Rate Instruments" has been deleted.
The last sentence of the first paragraph under "Money Market Obligations
of Domestic Banks, Foreign Banks and Foreign Branches of U.S. Banks" has
been deleted.
The last sentence of the second paragraph under "U.S. Government
Obligations" has been deleted.
The last sentence under "Supranational Organization Obligations" has
been deleted.
The last sentence of the second paragraph under "Commercial Paper" has
been deleted.
This Supplement is dated April 23, 1999.
