J.P. Morgan Funds
Supplement dated July 14, 2000, to the J.P. Morgan Money
Market Funds Prospectus dated March 1, 2000
The second paragraph under the heading "Portfolio Management" on page 5 with
respect to Tax Exempt Money Market Fund is hereby replaced with the following:
The advisor uses a team of portfolio managers and traders to manage the fund.
The portfolio team is composed of John Donohue, vice president, who has been on
the team since joining J.P. Morgan in June of 1997 from Goldman Sachs & Co.,
where he was an Institutional Money Market Portfolio Manager, Abigail J. Feder,
vice president, who joined J.P. Morgan in April of 2000 from Morgan Stanley Dean
Witter Investment Management, where she managed short term fixed income
portfolios, Benjamin Thompson, vice president, who joined J.P. Morgan in June of
1999 from Goldman Sachs, where he was a senior fixed income portfolio manager,
Gunter Heiland, associate, who has been on the team since joining J.P. Morgan in
June of 1997 from Salomon Brothers, where he was a sales assistant, James Ahn,
associate, who joined J.P. Morgan in June of 1996 from PricewaterhouseCoopers,
LLP and has been on the team since June of 2000, and Kimberly Weil, associate,
who has been on the team since its inception.
