The Preferred Group of Mutual Funds Prospectus Supplement dated June 1, 1998 to
Prospectus dated November 1, 1997, as revised May 15, 1998
Preferred Short-Term Government Securities Fund
Todd M. Sheridan, Senior Portfolio Manager at Caterpillar Investment Management
Ltd. ("CIML"), has assumed primary responsibility for the day-to-day management
of the Fund's portfolio. Mr. Sheridan has been employed by CIML since 1992, and
was involved in the management of the Fund's portfolio from January 1, 1993
until June 28, 1995.
1-800-662-GROW
P.O. Box 8320
Boston, MA 02266-8320
Distributed by Caterpillar Securities Inc.
PPSTK0598
