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WARBURG PINCUS EMERGING MARKETS FUND
WARBURG PINCUS INSTITUTIONAL FUND, INC.
Emerging Markets Portfolio
International Equity Portfolio
Managed EAFE(R) Countries Portfolio
WARBURG PINCUS INTERNATIONAL EQUITY FUND
WARBURG PINCUS JAPAN OTC FUND
WARBURG PINCUS TRUST
Emerging Markets Portfolio
International Equity Portfolio
Supplement to the Prospectus and Statement of Additional Information
The following information supersedes certain information in the prospectus and
statement of additional information of each of the Warburg Pincus Funds listed
above in the section entitled "Management of the Funds/Portfolios -- Portfolio
Managers":
Effective September 8, 1997, Nicholas P.W. Horsley no longer serves as
Co-Portfolio Manager or Associate Portfolio Manager/Research Analyst, as
applicable, of the Warburg Pincus Funds listed above. At that time, Vincent J.
McBride, currently Associate Portfolio Manager and Research Analyst of Warburg
Pincus Emerging Markets Fund and Associate Portfolio Manager of the Emerging
Markets Portfolios of Warburg Pincus Institutional Fund, Inc. and Warburg Pincus
Trust, became Co-Portfolio Manager of these Funds.
September 9, 1997 16-0997
for
WPISF
WPINS
TREQF
