NEWPOINT EQUITY FUND
(A PORTFOLIO OF NEWPOINT FUNDS)
SUPPLEMENT TO PROSPECTUSES DATED JANUARY 31, 1999
In the section of the prospectus entitled "Financial Information," on page 10,
please add the following as the last paragraph under the "Financial Highlights"
heading:
"This information has been audited by Arthur Andersen LLP, whose report,
along with the Fund's audited financial statements, is included in this
prospectus."
February 26, 1999
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Federated Investors
Federated Securities Corp., Distributor
Federated Investors, Inc.
Federated Investors Tower
1001 Liberty Avenue
Pittsburgh, PA 15222-3779
www.federatedinvestors.com
Cusip 651722209
G00940-02 (2/99)
