FIRST FUNDS
Capital Appreciation Portfolio
SUPPLEMENT DATED JUNE 26, 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.
The first sentence to the second paragraph on page 1 of the
prospectus under the heading "Principal Investment Strategies" is
deleted in its entirety and the following language is inserted:
"Under normal market conditions, DMC currently intends to
invest at least 80% of the Portfolio's total assets in
equity securities of companies with market capitalizations
generally between $200 million and $2 billion at the time of
purchase, with an average market capitalization of the
Portfolio not to exceed $1.5 billion.
The first sentence to the second paragraph on page 4 of the
prospectus under the heading "Principal Investment Strategies" is
deleted in its entirety and the following language is inserted:
"Under normal market conditions, DMC currently intends to
invest at least 80% of the Portfolio's total assets in
equity securities of companies with market capitalizations
generally between $200 million and $2 billion at the time of
purchase, with an average market capitalization of the
Portfolio not to exceed $1.5 billion.
