[SHIP]
[THE VANGUARD GROUP LOGO]
VANGUARD(R) INTERNATIONAL STOCK INDEX FUNDS
SUPPLEMENT TO THE PROSPECTUS DATED APRIL 30, 1999
Effective April 1, 2000, the Funds have reduced their purchase transaction fees
as follows:
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FORMER PURCHASE NEW PURCHASE
FUND TRANSACTION FEE TRANSACTION FEE
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European Stock Index Fund 0.50% None
Pacific Stock Index Fund 0.50 None
Total International Stock Index Fund 0.50 None
Emerging Markets Stock Index Fund 1.00 0.50%
In addition, the Emerging Markets Stock Index Fund has reduced its
redemption transaction fee from 1% to 0.50%.
The Funds may reinstate or raise their transaction fees in the future if
their costs of buying and selling securities increase under future market
conditions.
(C)2000 The Vanguard Group, Inc. All rights reserved. PS72N-04/01/2000
Vanguard Marketing Corporation, Distributor
