BNY HAMILTON FUNDS, INC.
BNY HAMILTON MONEY MARKET FUND - HAMILTON SHARES
Supplement dated August 12, 1998
to the Prospectus dated
April 30, 1998
As a result of a vote by shareholders of record on June 5, 1998,
operating policy (ii) under "Investment Restrictions" in the fourth
paragraph on page ten has been eliminated. BNY Hamilton Money Fund may
now invest in securities exempt from registration pursuant to Section
4(2) of the Securities Act of 1933 (the "1933 Act"), as well as
purchasing and selling unregistered securities from or to qualified
institutional buyers as defined in, and according to the provisions
of, Rule 144A under the 1933 Act.
The Money Fund may acquire, in privately negotiated transactions,
restricted securities that cannot be offered for public sale in the
United States without first being registered under the 1933 Act.
The price the Money Fund pays for these securities, or receives upon
resale, may be lower than the price the Money Fund would pay or receive
for similar securities with a more liquid market. Accordingly, the
valuation of these securities by the Money Fund will reflect any
limitations on their liquidity. The Money Fund may also purchase
certain unregistered securities sold to institutional investors under
Rule 144A of the Securities Act ("Rule 144A Securities"). Rule 144A
Securities that have a readily available market may be deemed to be
liquid for purposes of the Fund's 10% limitation on investments in
illiquid securities. The Money Fund's Adviser will monitor the
liquidity of such restricted securities under the supervision of and
pursuant to guidelines established by, the Directors. In establishing
these guidelines, the Directors will take into account factors such as
trading activity, availability of reliable price information and other
relevant information. Investing in Rule 144A Securities could have the
effect of increasing the level of the Money Fund's illiquidity to the
extent that qualified institutional buyers become, for a time,
uninterested in purchasing these securities. Acquisition by the Money
Fund of illiquid investments (any investment that cannot be disposed of
within three (3) Business Days in the normal course of business at
approximately the amount at which it was valued by the Money Fund) is
subject to the 10% limitation described under "Investment Restrictions".
BNY-0095
BNY HAMILTON FUNDS, INC.
BNY HAMILTON MONEY MARKET FUNDS - HAMILTON PREMIER SHARES
Supplement dated August 12, 1998
to the Prospectus dated
April 30, 1998
As a result of a vote by shareholders of record on June 5, 1998,
operating policy (ii) under "Investment Restrictions" in the third
paragraph on page ten has been eliminated. BNY Hamilton Money Fund
may now invest in securities exempt from registration pursuant to Section
4(2) of the Securities Act of 1933 (the "1933 Act"), as well as
purchasing and selling unregistered securities from or to qualified
institutional buyers as defined in, and according to the provisions of,
Rule 144A under the 1933 Act.
The Money Fund may acquire, in privately negotiated transactions,
restricted securities that cannot be offered for public sale in the
United States without first being registered under the 1933 Act.
The price the Money Fund pays for these securities, or receives upon
resale, may be lower than the price the Money Fund would pay or receive
for similar securities with a more liquid market. Accordingly, the
valuation of these securities by the Money Fund will reflect any
limitations on their liquidity. The Money Fund may also purchase
certain unregistered securities sold to institutional investors under
Rule 144A of the Securities Act ("Rule 144A Securities"). Rule 144A
Securities that have a readily available market may be deemed to be
liquid for purposes of the Fund's 10% limitation on investments in
illiquid securities. The Money Fund's Adviser will monitor the
liquidity of such restricted securities under the supervision of and
pursuant to guidelines established by, the Directors. In establishing
these guidelines, the Directors will take into account factors such as
trading activity, availability of reliable price information and other
relevant information. Investing in Rule 144A Securities could have the
effect of increasing the level of the Money Fund's illiquidity to the
extent that qualified institutional buyers become, for a time,
uninterested in purchasing these securities. Acquisition by the Money
Fund of illiquid investments (any investment that cannot be disposed of
within three (3) Business Days in the normal course of business at
approximately the amount at which it was valued by the Money Fund) is
subject to the 10% limitation described under "Investment Restrictions".
BNY-0096
BNY HAMILTON FUNDS, INC.
BNY HAMILTON MONEY MARKET FUNDS - HAMILTON CLASSIC SHARES
Supplement dated August 12, 1998
to the Prospectus dated
April 30, 1998
As a result of a vote by shareholders of record on June 5, 1998,
operating policy (ii) under "Investment Restrictions" in the second
paragraph on page 9 has been eliminated. BNY Hamilton Money Fund may
now invest in securities exempt from registration pursuant to Section
4(2) of the Securities Act of 1933 (the "1933 Act"), as well as
purchasing and selling unregistered securities from or to qualified
institutional buyers as defined in, and according to the provisions of,
Rule 144A under the 1933 Act.
The Money Fund may acquire, in privately negotiated transactions,
restricted securities that cannot be offered for public sale in the
United States without first being registered under the 1933 Act.
The price the Money Fund pays for these securities, or receives upon
resale, may be lower than the price the Money Fund would pay or receive
for similar securities with a more liquid market. Accordingly, the
valuation of these securities by the Money Fund will reflect any
limitations on their liquidity. The Money Fund may also purchase
certain unregistered securities sold to institutional investors under
Rule 144A of the Securities Act ("Rule 144A Securities"). Rule 144A
Securities that have a readily available market may be deemed to be
liquid for purposes of the Fund's 10% limitation on investments in
illiquid securities. The Money Fund's Adviser will monitor the
liquidity of such restricted securities under the supervision of and
pursuant to guidelines established by, the Directors. In establishing
these guidelines, the Directors will take into account factors such as
trading activity, availability of reliable price information and other
relevant information. Investing in Rule 144A Securities could have the
effect of increasing the level of the Money Fund's illiquidity to the
extent that qualified institutional buyers become, for a time,
uninterested in purchasing these securities. Acquisition by the Money
Fund of illiquid investments (any investment that cannot be disposed of
within three (3) Business Days in the normal course of business at
approximately the amount at which it was valued by the Money Fund)
is subject to the 10% limitation described under "Investment Restrictions".
BNY-0097
BNY HAMILTON FUNDS, INC.
BNY HAMILTON EQUITY FUNDS
Supplement dated August 12, 1998
to the Prospectus dated
April 30, 1998
As a result of a vote by shareholders of record on June 5, 1998, the
investment objective for the Equity Income Fund, as shown on the cover
page of the prospectus facing the Table of Contents and in the third
paragraph on page nine, is deleted in its entirety and replaced with
the following:
"To provide long-term capital appreciation with a yield greater than the
yield of the Standard & Poor's 500 Index."
Under "Management of the Funds - Investment Adviser", the portfolio
manager for the BNY Hamilton International Equity Fund is now Mary Clare
Bland. Accordingly, the following paragraphs replaces the first
paragraph on page 22:
"Mary Clare Bland, Vice President, is responsible for day-to-day
portfolio management of the International Equity Fund. Prior to
managing the International Equity Fund, Ms. Bland was employed by Loan
Pricing Corporation, a subsidiary of Reuters, as an analyst of U.S.
Commercial and Industrial loan markets from 1996-1998. Ms. Bland also
taught financial economics at the University of Gdansk in Poland from
1995-1996, and was a Ph.D. candidate at Indiana University from 1991-
1995, specializing in international financial institutions and
international monetary economics. Ms. Bland joined the Adviser in
June 1998.
BNY-0098
BNY HAMILTON FUNDS, INC.
STATEMENT OF ADDITIONAL INFORMATION
Supplement dated August 12, 1998
to the Statement of Additional Information dated
April 30, 1998
As a result of a vote by shareholders of record on June 5, 1998, the
investment objective for the Equity Income Fund, as shown in the
first paragraph on page four, is amended to read as follows:
"The Fund's investment objective is to provide long-term capital
appreciation with a yield greater than the yield of the Standard &
Poor's 500 Index."
This replaces the following sentences:
"The Fund's investment objectives are to provide long-term capital
appreciation greater than the appreciation of, and yield greater than
the yield of, the Standard & Poor's 500 Index. Equal emphasis is placed
on attaining income and capital appreciation."
In addition, the second full paragraph on page 15 under the caption
"Privately Placed and Certain Unregistered Securities" is deleted in its
entirety and replaced with the following:
"All Funds except the Treasury Money Fund may invest in privately placed,
restricted, Rule 144A and other unregistered securities as described in
their respective prospectuses."
BNY-0099
