BT PYRAMID MUTUAL FUNDS
497, 2000-06-07
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                                                   Deutsche Asset Management
                                                   -------------------------


BT Pyramid Mutual Funds

PreservationPlus - Investment Class, Institutional Class and Institutional
Service Class

Supplement dated June 7, 2000 (Replacing Supplement dated May 11, 2000) to
Prospectus dated January 31, 2000

The following supplements the "Total Returns, After Fees and Expenses" section
and the "Financial Highlights" table in the Fund's prospectuses:

Total returns for the Fund assume that an investor did not pay a redemption fee
at the end of the periods shown. However, if redemption fees were paid by fund
shareholders during the periods, the income received by the Fund from those
shareholders is included in the Fund's returns.

The following sentences are hereby omitted from the "Who Should Consider
Investing in the Fund" and "Buying and Selling Fund Shares" sections of the
Fund's Institutional Class prospectus:

The shares are available to employee benefit plans whose initial investment
equals or exceeds $25 million. Shares are also available to employee benefit
plans which invest in the Fund through an omnibus account or similar
arrangement, if that omnibus account or similar arrangement makes an initial
investment in the Fund of at least $25 million.


              Please Retain This Supplement for Future Reference

SUPPPLUS (6/00)

CUSIP:
055847834
055847818
055847826

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                                                    A Member of the
                                                    Deutsche Bank Group [/]
                                                    -----------------------


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