Supplement dated September 1, 1995 to the following prospectuses:
The Pierpont Funds, dated March 1, 1995 as amended June 21, 1995
The Pierpont Treasury Money Market Fund, dated March 1, 1995
The Pierpont Money Market Fund, dated March 1, 1995
The Pierpont Tax Exempt Money Market Fund, dated January 3, 1995
The Pierpont Short Term Bond Fund, dated March 1, 1995
The Pierpont Bond Fund, dated March 1, 1995
The Pierpont Tax Exempt Bond Fund, dated January 3, 1995
The Pierpont New York Total Return Bond Fund, dated August 1, 1995
The Pierpont Equity Fund, dated October 1, 1994
The Pierpont Capital Appreciation Fund, dated October 1, 1994
The Pierpont International Equity Fund, dated March 1, 1995 as amended June 21,
1995
The Pierpont Emerging Markets Equity Fund, dated March 1, 1995
The Pierpont Diversified Fund, dated October 1, 1994
Effective September 1, 1995 the Financial and Fund Accounting Services Agreement
between The Pierpont Funds and Morgan Guaranty Trust Company of New York
("Morgan") and the Financial and Fund Accounting Services Agreement between each
Portfolio into which a Pierpont Fund invests and Morgan terminated. Morgan will
continue to provide financial and fund accounting services to The Pierpont Funds
and their corresponding Portfolios. It is not expected that there will be any
material change in the expense ratio of any of The Pierpont Funds.
