Universal Capital Investment Trust
Supplement to Prospectus Dated January 28, 2000
On August 17, 2000, the Trust will hold a shareholders meeting at which
shareholders will be asked to vote on the following proposals:
1. The election of Andrew J. Goodwin, III, Robert A. Korajczyk, Robert F.
Seebeck, and Alan L. Zable to the Board of Trustees;
2. The approval and the continuation of a new Investment Advisory Agreement
with the Adviser upon the same terms and conditions as the current
Investment Advisory Agreement, following two transactions which may
constitute a change in the control of the Adviser (whose name will then
be changed to Optimum Investment Advisers, L.P.); and
3. The ratification of the selection of Ernst & Young LLP as independent
auditors for the current fiscal year.
The Board of Trustees has recommended that all shareholders vote to approve
each of the proposals. It is anticipated that all proposals will be approved by
shareholders and that the new Investment Advisory Agreement will become
effective immediately after the shareholder meeting. If this is the case, there
will be no additional supplement to the Prospectus to reflect this development.
July 18, 2000
