The JPM Institutional Funds
Supplement dated December 22, 1997, as applicable to the following Prospectuses:
The JPM Institutional Prime Money Market Fund dated 2/28/97
The JPM Institutional Federal Money Market Fund dated 2/28/97
Cut-Off Times for Purchases and Redemptions:
The Prime Money Market and Federal Money Market Funds have extended their
cut-off times for receiving purchase and redemption orders for Fund shares.
These new times supersede any references to cut-off times in the prospectus and
any prospectus supplements. The new cut-off times for purchase and redemption
orders and for receipt of immediately available funds are as follows:
Deadline for Receipt of
Deadline for Purchase Immediately Available Funds
and Redemption Orders by the Fund
Prime Money Market 5:00 pm 5:00 pm
Federal Money Market 2:00 pm 4:00 pm
Purchase orders and immediately available funds must be received by the above
times on a Fund business day for the purchase to be effective and dividends to
be earned on the same day. The net asset value for the Prime Money Market Fund
will now be calculated at 5:00 pm.
