THE PILLAR FUNDS
Short-Term Investment Fund
Fixed Income Fund
New Jersey Municipal Securities Fund
Pennsylvania Municipal Securities Fund
Intermediate-Term Government Securities Fund
GNMA Fund
Class B Shares
Supplement dated September 25, 1996 to the Prospectus dated July 15, 1996
The Prospectus dated July 15, 1996 relating to the Short-Term Investment
Fund, Fixed Income Fund, New Jersey Municipal Securities Fund, Pennsylvania
Municipal Securities Fund, Intermediate-Term Government Securities Fund and GNMA
Fund of The Pillar Funds is hereby amended and supplemented by the following:
During the period beginning October 1, 1996 and ending no later than
November 30, 1996, any employee of Summit Bancorp. or any of its affiliates who
elects to participate in The Pillar Funds' Automatic Investment Plan for the
purchase of Class B shares of any of The Pillar Funds, excluding the money
market funds, through an investment counselor of Summit Bank's Financial
Services Group will receive $50 worth of a fund of The Pillar Funds selected by
the investor. The offer is subject to the following additional conditions:
(i) limited to one payment per household and to one payment in the case of joint
accounts; (ii) Summit Bank must furnish to SEI Financial Services Company, the
distributor of The Pillar Funds (the "Distributor"), the names and addresses of
each purchaser; and (iii) the offer may be terminated (as to persons who have
not yet purchased shares at the time of termination) at any time by the
Distributor without prior notice. The Distributor will not be reimbursed by The
Pillar Funds for any payment made pursuant to this offer.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
<PAGE>
THE PILLAR FUNDS
Equity Value Fund
Equity Income Fund
Mid Cap Value Fund
Balanced Growth Fund
International Growth Fund
Class B Shares
Supplement dated September 25, 1996 to the Prospectus dated July 15, 1996
The Prospectus dated July 15, 1996 relating to the Equity Value Fund, Equity
Income Fund, Mid Cap Value Fund, Balanced Growth Fund and International Growth
Fund of The Pillar Funds is hereby amended and supplemented by the following:
During the period beginning October 1, 1996 and ending no later than
November 30, 1996, any employee of Summit Bancorp. or any of its affiliates who
elects to participate in The Pillar Funds' Automatic Investment Plan for the
purchase of Class B shares of any of The Pillar Funds, excluding the money
market funds, through an investment counselor of Summit Bank's Financial
Services Group will receive $50 worth of a fund of The Pillar Funds selected by
the investor. The offer is subject to the following additional conditions:
(i) limited to one payment per household and to one payment in the case of joint
accounts; (ii) Summit Bank must furnish to SEI Financial Services Company, the
distributor of The Pillar Funds (the "Distributor"), the names and addresses of
each purchaser; and (iii) the offer may be terminated (as to persons who have
not yet purchased shares at the time of termination) at any time by the
Distributor without prior notice. The Distributor will not be reimbursed by The
Pillar Funds for any payment made pursuant to this offer.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
<PAGE>
THE PILLAR FUNDS
U.S. Treasury Securities Money Market Fund
Prime Obligation Money Market Fund
Tax-Exempt Money Market Fund
Class B Shares
Supplement dated September 25, 1996 to the Prospectus dated July 15, 1996
The Prospectus dated July 15, 1996 relating to the U.S. Treasury Securities
Money Market Fund, Prime Obligation Money Market Fund and Tax-Exempt Money
Market Fund of The Pillar Funds is hereby amended and supplemented by the
following:
During the period beginning October 1, 1996 and ending no later than
November 30, 1996, any employee of Summit Bancorp. or any of its affiliates who
elects to participate in The Pillar Funds' Automatic Investment Plan for the
purchase of Class B shares of any of The Pillar Funds, excluding the money
market funds, through an investment counselor of Summit Bank's Financial
Services Group will receive $50 worth of a fund of The Pillar Funds selected by
the investor. The offer is subject to the following additional conditions:
(i) limited to one payment per household and to one payment in the case of joint
accounts; (ii) Summit Bank must furnish to SEI Financial Services Company, the
distributor of The Pillar Funds (the "Distributor"), the names and addresses of
each purchaser; and (iii) the offer may be terminated (as to persons who have
not yet purchased shares at the time of termination) at any time by the
Distributor without prior notice. The Distributor will not be reimbursed by The
Pillar Funds for any payment made pursuant to this offer.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
