J.P. Morgan Funds Supplement dated December 2, 1999, to the following
Prospectus:
J.P. Morgan U.S. Equity Funds, dated October 1, 1999
The second paragraph under the heading "Portfolio Management" on page 4
with respect to J.P. Morgan U.S. Equity Fund is hereby replaced with the
following:
The portfolio management team is led by Henry D. Cavanna, managing
director, who joined the team in February of 1998, and has been at J.P.
Morgan since 1971. Mr. Cavanna served as manager of U.S. equity portfolios
prior to managing the fund.
