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SUPPLEMENT DATED SEPTEMBER 7, 2000 TO THE
PROSPECTUS DATED MAY 31, 2000
THE ARBOR FUND (THE "TRUST")
OVB FAMILY OF FUNDS
EQUITY INCOME PORTFOLIO
CAPITAL APPRECIATION PORTFOLIO
GOVERNMENT SECURITIES PORTFOLIO
WEST VIRGINIA TAX-EXEMPT INCOME PORTFOLIO
PRIME OBLIGATIONS PORTFOLIO
THIS SUPPLEMENT PROVIDES NEW ADDITIONAL INFORMATION BEYOND THAT
CONTAINED IN THE PROSPECTUS. IT SHOULD BE RETAINED AND READ IN CONJUNCTION
WITH THE PROSPECTUS.
OVB GOVERNMENT SECURITIES PORTFOLIO AND OVB WEST VIRGINIA TAX-EXEMPT INCOME
PORTFOLIO.
Replacing James R. Thomas, III, Keith F. Karlawish, CFA, is now the
Portfolio Manager for the Government Securities Portfolio effective
August 21, 2000, and Jay McClung, CPA, is now the Portfolio Manager for the
West Virginia Tax-Exempt Income Portfolio effective September 1, 2000.
UNDER THE HEADING "PORTFOLIO MANAGERS," PARAGRAPH 4 ON PAGE 18 OF THE
PROSPECTUS HAS BEEN DELETED AND REPLACED WITH THE FOLLOWING:
Keith F. Karlawish, CFA, serves as Vice President and Director of Fixed
Income Portfolio Management of the Adviser and has more than twelve years of
investment and banking experience. Additionally, Mr. Karlawish has served as
Manager of the BB&T Intermediate U.S. Government Bond Fund and BB&T
Short-Intermediate Fund since September, 1994 and the BB&T Intermediate
Corporate Bond Fund since February, 2000.
Jay McClung, CPA, serves as a Portfolio Manager of the Adviser and has
nearly ten years of investment management experience. Mr. McClung joined One
Valley Bank, former Adviser to the OVB Family of Funds, in 1998 as a
Portfolio Manager in the Trust Investment Department. Additionally, Mr.
McClung served as Portfolio Manager at Huntington Banks for more than five
years.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
