J.P. Morgan Institutional Funds
Supplement dated December 29, 1997 to the Statement of Additional Information
dated August 4, 1997.
A new Statement of Additional Information, dated December 29, 1997, has been
filed and is in effect for the J.P. Morgan Institutional Tax Exempt Bond Fund,
the J.P. Morgan Institutional Tax Exempt Money Market Fund, and the J.P. Morgan
Institutional International Bond Fund. A copy of this new Statement of
Additional Information can be obtained, free of charge, by calling
1-800-766-7722. Please disregard any references to these Funds in the attached
Statement of Additional Information dated August 4, 1997.
