J.P. Morgan Institutional Funds
Supplement dated June 1, 1998 to the Prospectus for the J.P. Morgan
Institutional Service Money Market Funds,dated February 2, 1998
On May 14, 1998, a proxy statement was mailed to shareholders of record of the
above funds as of April 13, 1998, in connection with a shareholder meeting to be
held June 25, 1998.
The proxy statement includes proposals relating to the revision, and in some
cases, elimination, of the funds' investment restrictions, including adoption of
standardized investment restrictions for each of the funds; reclassification of
investment objectives as nonfundamental-i.e., changeable by a vote of Trustees
without a shareholder vote-for all funds whose investment objectives are
currently fundamental (each fund except J.P. Morgan Institutional Service
Treasury Money Market Fund); approval of new investment advisory agreements for
all funds with J.P. Morgan Investment Management Inc., which are identical in
all material respects to the current contracts with Morgan Guaranty Trust
Company of New York; the amendment of the Declarations of Trust of J.P. Morgan
and J.P. Morgan Institutional Funds to provide dollar-based voting rights for
shareholders; election of Trustees and ratification of the selection of
independent accountants.
If these proposals are approved, each fund's prospectus and statement of
additional information will be revised after the meeting to reflect the
implementation of the changes.
For further information regarding these proposals and how they will affect each
fund, or to request a copy of the proxy statement, please call 800-521-5411.
JPMPRSSV-986
