<PAGE>
THE ARBOR FUND
GOLDEN OAK FAMILY OF FUNDS
SUPPLEMENT DATED JUNE 7, 2000 TO THE PROSPECTUS DATED MAY 31, 2000
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN
THE PROSPECTUS AND SHOULD BE RETAINED AND READ IN CONJUNCTION WITH THE
PROSPECTUS.
The Golden Oak International Equity Portfolio has not yet commenced the
continuous offering of shares. The portfolio is expected to commence the
continuous offering of shares on or about July 1, 2000.
The Class B shares of the Golden Oak Family of Funds' Portfolios are not
currently being offered or sold. The continuous offering of Class B shares of
each Portfolio is expected to commence on or about July 1, 2000.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
GOK-A-001-10
