JP MORGAN FUNDS
497, 2000-07-14
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J.P.  Morgan  Funds
Supplement  dated July 14,  2000,  to the J.P.  Morgan
Diversified Fund Prospectus dated November 1, 1999

The second  paragraph  under the  heading  "Portfolio  Management"  on page 1 is
hereby replaced with the following:

The portfolio  management  team is led by John M. Devlin,  vice  president,  who
joined the team in December of 1993 and has been at J. P. Morgan  since 1986 and
Anne Lester, vice president, who joined the team in June of 2000 and has been at
J.P.  Morgan since 1992.  Prior to managing  this fund Ms.  Lester worked in the
Product  Development  group and prior to that was a fixed  income  and  currency
trader and portfolio manager in Milan.



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