BT ADVISOR FUNDS
BT INSTITUTIONAL FUNDS
BT INVESTMENT FUNDS
BT PYRAMID MUTUAL FUNDS
SUPPLEMENT TO CURRENT PROSPECTUSES
Effective September 30, 1996, Edgewood Services, Inc. became the Distributor of
the above-named investment companies (the `Funds''), replacing Signature
Broker-Dealer Services, Inc. (`Signature'') a subsidiary of Signature
Financial Group, Inc. (`SFG''). Edgewood Services, Inc., a registered
broker/dealer, is a New York corporation with principal offices at Clearing
Operations, P.O. Box 897, Pittsburgh, PA 15230-0897. Accordingly, references
throughout the prospectus to Signature and SFG should be replaced with
references to Edgewood Services, Inc. and its affiliates, respectively, as
appropriate.
September 30, 1996
EDGEWOOD SERVICES, INC.
Distributor
FEDERATED INVESTORS TOWER
PITTSBURGH, PA 15222-3779
G011857-01 (9/96)
CUSIPS
055924104 055924500 055924203 055924880
055924807 055924807 055924872 055924401
055924864 055922868 055922819 055922702
055922801 055922884 055922306 055922207
055922108 055922405 055922827 055922835
055922843 055922769 055922777 055922785
055922736 055922710 055922744 05576L106
05576L205 05576L304 05576L403 05576L502
05576L601 05576L874 05576L841 05576L700
05576L866 05576L804 05576L858 05576L882
055847206 055847305 055847107 055847404
055922751
