FIRST FUNDS
U.S. Treasury Money Market Portfolio
SUPPLEMENT DATED AUGUST 29, 2000
TO THE OCTOBER 28, 1999 PROSPECTUS
This supplement provides new information beyond that contained in
the prospectus, and
should be read in conjunction with such prospectus.
At a meeting held on June 6, 2000, the Board of Trustees of First
Funds, including a majority of the Independent Trustees,
unanimously approved, subject to shareholder approval, proposed
amendments to the First Funds Class IV Distribution Plan and the
First Funds Class IV Shareholder Services Plan. The amendment to
the Class IV Distribution Plan would reflect a .50% distribution
fee for the U.S. Treasury Money Market Portfolio (the
"Portfolio") and the amendment to the Class IV Shareholder
Services Plan would reflect a .25% shareholder services fee for
the Portfolio.
On or about September 11, 2000 the Board of Trustees will mail a
definitive proxy statement to the shareholders of the Portfolio
to notify the shareholders of a special shareholder meeting to be
held on September 25, 2000. This special meeting will be held
for the purpose of voting on the aforementioned proposed
amendments.
