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SUPPLEMENT TO PROSPECTUS FOR NORTH AMERICAN FUNDS
Dated March 1, 1999, as revised May 13, 1999
On or about July 7, 1999, Credit Suisse Group ("Credit Suisse") is expected
to acquire the parent companies of Warburg Pincus Asset Management, Inc.
("Warburg"), the subadviser to the Emerging Growth Fund. As a result of this
transaction, Warburg and other existing Credit Suisse asset management
businesses will be reorganized into a new Credit Suisse subsidiary, Credit
Suisse Asset Management, LLC ("CSAM"). Under this new arrangement, CSAM will
become the subadviser to the Emerging Growth Fund, and will continue to employ
Elizabeth B. Dater and Stephen J. Lurito as co-managers of the Fund. CSAM's
principal business address is 153 East 53rd Street, New York, New York, 10022.
July 6, 1999
