Rule 497(e)
File Nos. 33-53368
and 811-07290
SUPPLEMENT DATED MARCH 9, 1999
TO STATEMENT OF ADDITIONAL INFORMATION
FOR CLASS A, B, C AND Y SHARES OF THE
EMERGING MARKETS DEBT PORTFOLIO
DATED OCTOBER 16, 1998
BEAR STEARNS INVESTMENT TRUST
EMERGING MARKETS DEBT PORTFOLIO
The Statement of Additional Information is amended as follows:
1. On page 1, in the section entitled "Investment Objective and Policies",
the following sentence will be added after the first sentence in the
subsection entitled "General"
"Debt Obligations include securities such as preferred stock
which has charateristics of both fixed income and equity
investments."
2. On page 1, in the section entitled "Investment Objective and Policies,"
the following sentences will be added after the first sentence in the
subsection entitled "Convertible Securities":
"Convertible securities include corporate bonds, debentures,
notes and other similar corporate debt instruments, and may
also include forms of preferred or preference stock.
Convertible debt securities have characteristics of both fixed
income and equity investments."
3. On page 18, in the section entitled "Management of the Portfolio," the
following biographical subsections entitled "Name and Address," "Age,"
"Position(s) with Portfolio," and "Principal Occupation(s) During Past
Five Years," shall be amended as follows:
a. Add the following new biographical information:
Position(s) Principal Occupation(s)
Name and Address Age with Portfolio During Past Five Years
- ---------------- --- -------------- ----------------------
"Barry Sommers 29 Executive Vice Managing Director and
575 Lexington Avenue President Head of Marketing and
New York, NY 10022 Sales of Bear Stearns
Funds since June 1997,
Vice President in Mutual
Fund Sales of Goldman
Sachs & Co. from May 1995
to May 1997, Vice President
of Putnam Investments from
May 1992 to May 1995."
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b. Amend the biographical subsection entitled
"Position(s) with Portfolio," for Donalda L. Fordyce,
to read "President" instead of "Vice President."
c. Amend the biographical subsection entitled "Name and
Address" for Frank J. Maresca and Vincent L. Pereira
to read "575 Lexington Avenue, New York, NY 10022"
instead of "245 Park Avenue, New York, NY 10167."
d. Delete the biographical information for Robert S.
Reitzes in its entirety, under the above-referenced
subsections.
e. Delete the biographical information for Peter Fox in
its entirety, under the above-referenced subsections.
f. Delete the biographical information for Christina
LaMastro in its entirety, under the above-referenced
subsections.
4. On page A-5, the subsection entitled "Option Income and Hedging
Strategies" under Appendix A entitled "Investment Practices," shall be
revised as follows:
a. The first sentence of the second full paragraph shall
be deleted in its entirety and replaced with the
following:
"The Fund may purchase put and call options and write
put and covered call options on bond indices and
foreign currencies in much the same manner as the
more traditional securities options discussed above."
b. The first sentence of the third full paragraph shall
be deleted in its entirety and replaced with the
following:
"The Fund may purchase and write covered straddles on
securities, foreign currencies or bond indices."
