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THE PILLAR FUNDS
Supplement dated September 8, 2000
to Statement of Additional Information dated April 30, 2000
This Supplement provides new and additional information beyond that contained in
the Statement of Additional Information ("SAI") and should be read in
conjunction with the SAI.
The paragraph numbered "6" on page S-42 in the section entitled "INVESTMENT
LIMITATIONS" of the SAI should be removed and replaced with the following:
Make short sales of securities, maintain a short position or purchase securities
on margin, except that the Trust may obtain short-term credits as necessary for
the clearance of security transactions; provided that the Balanced Fund, Equity
Growth Fund, Equity Income Fund, Equity Value Fund, Mid Cap Fund and
International Equity Fund may make short sales of securities "against the box"
or in compliance with the SEC's position regarding the asset segregation
requirements imposed by Section 18 of the 1940 Act and may maintain a short
position.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.
