THE JPM PIERPONT FUNDS
Supplement dated July 30, 1997, as applicable to the following Prospectuses:
The JPM Pierpont Funds, dated 2/28/97
The JPM Pierpont Prime Money Market Fund, dated 2/28/97
The JPM Pierpont Federal Money Market Fund, dated 2/28/97
The JPM Pierpont Tax Exempt Money Market Fund, dated 12/27/96
The JPM Pierpont Short Term Bond Fund, dated 2/28/97
The JPM Pierpont Bond Fund, dated 2/28/97
The JPM Pierpont Tax Exempt Bond Fund, dated 12/27/96
The JPM Pierpont New York Total Return Bond Fund, dated 7/14/97
The JPM Pierpont Diversified Fund, dated 9/27/96
The JPM Pierpont U.S. Equity Fund, dated 9/27/96
The JPM Pierpont U.S. Small Company Fund, dated 9/27/96
The JPM Pierpont International Equity Fund, dated 2/28/97
The JPM Pierpont Emerging Markets Equity Fund, dated 2/28/97
The JPM Pierpont European Equity Fund, dated 4/30/97
The JPM Pierpont Japan Equity Fund, dated 4/30/97
The JPM Pierpont Asia Growth Fund, dated 4/30/97
The JPM Pierpont International Opportunities Fund, dated 12/27/96
The JPM Pierpont Emerging Markets Debt Fund, dated 3/6/97
The JPM Pierpont U.S. small Company Opportunities Fund, dated 5/27/97
Effective July 31, 1997, the required minimum initial investment in each JPM
Pierpont Fund is $2,500. The minimum subsequent investment is $500.
Please refer to "Purchase of Shares" for more information.
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[On reverse side-not a part of the Prospectus or Prospectus supplement]
July 30, 1997
Dear JPM Pierpont Investor,
Attached, you'll find a prospectus supplement that explains some
important information about The JPM Pierpont Funds: the initial and subsequent
investment amounts have been reduced. We're writing to let you know that these
changes should provide additional flexibility for your investment program and
enable you and other shareholders to take full advantage of the range of JPM
Pierpont Funds. Please keep this supplement with your prospectus and call us
toll-free at 1-800-521-5411 if you have any questions. We will be happy to help
you.
Sincerely,
/s/ Ramon de Oliveira /s/ Keith M. Schappert
Ramon de Oliveira Keith M. Schappert
Chairman President
Asset Management Services Asset Management Services
J.P. Morgan & Co. Incorporated J.P. Morgan & Co. Incorporated
