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J.P. MORGAN FUNDS
Supplement dated January 9, 2001 to the J.P. Morgan International Equity
Funds Prospectus dated March 1, 2000.
The second paragraph under the heading "Portfolio Management" on page 7 with
respect to Emerging Markets Equity Fund is hereby replaced with the following:
The portfolio management team is led by Peter Clark, vice president, who has
been at J.P. Morgan since 1986, and Satyen Mehta, managing director, who has
been at J.P. Morgan since 1984. Mr. Mehta has been on the team since the
fund's inception. Mr. Clark joined the team in 1999.
