INVESTORS MUNICIPAL CASH FUND
Investors Pennsylvania Municipal Cash Fund
Supplement to Statement of Additional Information
Dated August 1, 1999
The above-listed Fund's non-fundamental investment restrictions have been
amended by a vote of the Board of Trustees for the Fund. The following amended
and restated non-fundamental policies restate in their entirety the
non-fundamental restrictions for the Investors Pennsylvania Municipal Cash Fund
only in the section entitled "Investment Restrictions" in the currently
effective Statement of Additional Information. In addition, any reference to
these policies elsewhere in the Statement of Additional Information is hereby
amended.
As a matter of non-fundamental policy, the Fund will not:
o Borrow money in an amount greater than one third of its total assets,
except for temporary or emergency purposes.
o Lend portfolio securities in an amount greater than 5% of its total assets.
o Invest more than 10% of net assets in illiquid securities.
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