BEAR STEARNS INVESTMENT TRUST
SUPPLEMENT DATED JUNE 7, 1996 TO PROSPECTUS DATED MAY 31, 1996
The Prospectus is amended as follows:
1. On page 6, in footnote ***, in the sixth sentence the text
"$45,000" is hereby deleted and the text "$75,000" is
substituted.
2. On page 7, in the Example table under the expenses for the
Class C Shares assuming 1) a 5% annual return and the
reinvestment of dividends and 2) redemption of all shares at
the end of each time period, under the text "1 Year" the
text "$24" is hereby deleted and the text "$34" is
substituted.
3. On page 8, in the Financial Highlights table, a line is
hereby inserted in each column under Per Share Operating
Performance between the Net realized capital gains item and
the Net asset value, end of period item.
4. On page 23, in the second sub-heading under the heading
"Management of the Portfolio", the text "and Administrator"
is hereby inserted after "Investment Manager".
5. On page 23, in the third sentence of the first paragraph
under the sub-heading "Investment Manager", the text "$2.4
billion" is hereby deleted and the text "$1.9 billion" is
substituted.
6. On page 24, the second sentence of the first full paragraph
after the text "computed at the following rate", is hereby
deleted and the following text is substituted in lieu
thereof:
"0.10 of 1% per annum of the first $200
million of the Portfolio's average daily net
assets, 0.07 of 1% per annum of the next $200
million of the Portfolio's average daily net
assets, 0.05 of 1% per annum of the next $200
million of the Portfolio's average daily net
assets and 0.03 of 1% per annum of any
amounts over $600 million of the Portfolio's
average daily net assets subject to a minimum
fee of $108,000".
7. On page 26, in the second sentence of the second complete
paragraph the text "P.O. Box 8950" is hereby deleted and the
text "P.O. Box 8960" is substituted, and the text "19899" is
hereby deleted and the text "19899-8960" is substituted.
8. On page 26, in the third sentence of the third complete
paragraph, the text "P.O.Box 8950" is hereby deleted and the
text "P.O. Box 8960" is substituted, and the text "19899" is
hereby deleted and the text "19899-8960" is substituted.
9. On page 33, in the second sentence under the sub-heading
"Redemption Through the Transfer Agent", the text "P.O. Box
8950" is hereby deleted and the text "P.O. Box 8960" is
substituted, and the text "19899" is hereby deleted and the
text "19899-8960" is substituted.
10. On page 38, in the first full sentence the text "Class A
Shares" is hereby deleted and the second full sentence is
deleted in its entirety.
11. On page 38, under the sub-heading "Shareholder
Inquiries",the text "1-800-766-4111" is hereby deleted, and
the text "1-800-447-1139" is substituted.
12. On the final page, entitled "The Bear Stearns Funds", in the
second sub-heading, the text "Adviser" is hereby deleted and
the text "Manager" is substituted.
SUPPLEMENT DATED JUNE 7, 1996 TO STATEMENT OF ADDITIONAL
INFORMATION DATED MAY 31, 1996
The Statement of Additional Information is amended as follows:
1. On the cover page in the Table of Contents, the page number
references corresponding to the references to Shares of
the Portfolio, Net Asset Value, Performance and Yield
Information and Code of Ethics are hereby deleted and
replaced with the text "29, 30, 31, and 33," respectively.
2. On page 20, in the sub-heading "Investment Manager", the
text "and Administrator" is hereby inserted after the text
"Investment Manager".
3. On page 20, in the third and final sentence of the second
paragraph under the sub-heading "Investment Manager", the
text "of over $2.4 billion" is hereby deleted and the text
"totaling approximately $1.9 billion" is substituted.
4. On page 23, in the third and final sentence of the first
paragraph under the sub-heading "Administrator", the text
"$45,000" is hereby deleted, and the text "$75,000" is
substituted.
5. On page 27, between the fourth paragraph under the sub-
heading "Payment and Terms of Offering" and the sub-heading
"Transfer of Shares" two new paragraphs are hereby inserted
with the following text:
"Class A shares of the Portfolio may be purchased at net
asset value with the proceeds from the redemption of shares
of an investment company sold with a sales charge or
commission and not distributed by Bear Stearns. See "How to
Buy Shares - Class A Shares" in the Prospectus. Bear
Stearns may make or allow additional payments or offer
promotional incentives to dealers that sell Class A shares.
Frequently, in connection with promotional incentives to
Authorized Dealers, Bear Stearns will offer to pay
Authorized Dealers an amount up to 1% of the net asset value
of shares purchased by the dealer's clients or customers
with such proceeds. The current promotional incentive
offered to Authorized Dealers from April 15, 1996 through
June 28, 1996 is indefinitely extended.
Under certain circumstances set forth in the Prospectus
under "How to Buy Shares - Class A Shares" the purchaser's
front-end sales charges can be waived. In these instances
where the front-end sales charges are waived, Bear Stearns
requires documentation, certification or information from
the Authorized Dealer. Any such waiver will be subject to
confirmation of the purchaser's holdings through a check of
these records to verify that such purchaser is eligible for
the applicable exemption from the front-end sales charges."
6. On page 28, between the end of the third complete paragraph
and the fourth complete paragraph, a new paragraph is hereby
inserted with the following text:
"Written redemption instructions which are given directly to
the Transfer Agent require signature guarantees, and duly
endorsed stock certificates, if previously issued, must be
received by the Transfer Agent in proper form and signed
exactly as the shares are registered. The Transfer Agent has
adopted standards and procedures pursuant to which
signature-guarantees in proper form generally will be
accepted from domestic banks, brokers, dealers, credit
unions, national securities exchanges, registered securities
associations, clearing agencies and savings associations, as
well as from participants in the New York Stock Exchange
Medallion Signature Program, the Stock Exchanges Medallion
Program and the Securities Transfer Agents Medallion Program
("STAMP"). Such guarantees must be signed by an authorized
signatory thereof with "Signature Guaranteed" appearing with
the shareholder's signature. If the signature is guaranteed
by a broker or dealer, such broker or dealer must be a
member of a clearing corporation and maintain net capital of
at least $100,000. Signature-guarantees may not be provided
by notaries public. Redemption requests by corporate and
fiduciary shareholders must be accompanied by appropriate
documentation establishing the authority of the person
seeking to act on behalf of the account. Investors may
obtain from the Fund or the Transfer Agent forms of
resolutions and other documentation which have been prepared
in advance to assist compliance with the Portfolio's
procedures. Any questions with respect to signature-
guarantees should be directed to the Transfer Agent by
calling 1-800-477-1139 (in Delaware call collect 302-791-
1031)."
7. On page 33, in the last sentence under the heading "Code of
Ethics" after the text "Kurland" delete the text "and" and
add the text "Gerald Cummings," and delete after the text
"or" the text "alternatively,".
