<PAGE> 1
WARBURG PINCUS GLOBAL FIXED INCOME FUND
SUPPLEMENT TO THE PROSPECTUSES AND
STATEMENT OF ADDITIONAL INFORMATION
DATED FEBRUARY 17, 1998
THE FOLLOWING INFORMATION SUPERSEDES CERTAIN INFORMATION IN THE PROSPECTUSES
AND STATEMENT OF ADDITIONAL INFORMATION OF WARBURG PINCUS GLOBAL FIXED INCOME
FUND (THE "FUND") IN THE SECTION ENTITLED "MANAGEMENT OF THE FUNDS -- PORTFOLIO
MANAGERS":
Laxmi C. Bhandari no longer serves as Co-Portfolio Manager of the Fund. Dale
C. Christensen, formerly Co-Portfolio Manager, is the sole Portfolio Manager of
the Fund.
Dated: March 31, 1998 16-0398
for
WPBDF
ADBDF
