JP MORGAN INSTITUTIONAL FUNDS
497, 2000-05-15
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J.P. Morgan Institutional Funds
Supplement effective May 22, 2000, to the following Prospectus:

J.P. Morgan Institutional Diversified Fund, dated November 1, 1999

The address of the  Shareholder  Servicing  Agent shown under the heading  "Your
Investment" is changed. The new address is:

                                                Morgan Christiana Center
                                           J.P. Morgan Funds Services - 2/OPS3
                                                   500 Stanton Christiana Road
                                                           Newark, DE 19713
                                                            1-800-766-7722



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