Rule 497(k)(1)(iii)(B)
File Nos. 33-58004 and 811-7474
Money Market
Funds
[BOSTON 1784 FUNDS LOGO OMITTED]
SEPTEMBER 30, 1999
FUND INFORMATION AND PROFILE
[PHOTO OF BOSTON OMITTED]
NOT PART OF THE PROFILE
MONEY MARKET FUNDS
(SQUARE BULLET) BOSTON 1784 TAX-FREE MONEY MARKET FUND
(SQUARE BULLET) BOSTON 1784 U.S. TREASURY MONEY MARKET FUND
(SQUARE BULLET) BOSTON 1784 INSTITUTIONAL U.S. TREASURY MONEY
MARKET FUND
(SQUARE BULLET) BOSTON 1784 PRIME MONEY MARKET FUND
(SQUARE BULLET) BOSTON 1784 INSTITUTIONAL PRIME MONEY
MARKET FUND
BOND FUNDS
(SQUARE BULLET) BOSTON 1784 SHORT-TERM INCOME FUND
(SQUARE BULLET) BOSTON 1784 INCOME FUND
(SQUARE BULLET) BOSTON 1784 U.S. GOVERNMENT MEDIUM-
TERM INCOME FUND
TAX-EXEMPT INCOME FUNDS
(SQUARE BULLET) BOSTON 1784 TAX-EXEMPT MEDIUM-TERM INCOME FUND
(SQUARE BULLET) BOSTON 1784 CONNECTICUT TAX-EXEMPT INCOME FUND
(SQUARE BULLET) BOSTON 1784 FLORIDA TAX-EXEMPT INCOME FUND
(SQUARE BULLET) BOSTON 1784 MASSACHUSETTS TAX-EXEMPT INCOME FUND
(SQUARE BULLET) BOSTON 1784 RHODE ISLAND TAX-EXEMPT INCOME FUND
STOCK FUNDS
(SQUARE BULLET) BOSTON 1784 ASSET ALLOCATION FUND
(SQUARE BULLET) BOSTON 1784 GROWTH AND INCOME FUND
(SQUARE BULLET) BOSTON 1784 GROWTH FUND
(SQUARE BULLET) BOSTON 1784 INTERNATIONAL EQUITY FUND
BOSTON 1784 FUNDS [SERVICE MARK]
P.O. BOX 8524
BOSTON, MA O2266-8524
1-800-BKB-1784
www.boston1784funds.com
NOT PART OF THE PROFILE MF-0137 (10/99)
<PAGE>
BOSTON 1784 MONEY MARKET FUNDS
A VALUABLE ADDITION TO YOUR PERSONAL SAVING OR INVESTING PROGRAM.
================================================================================
IF YOU'RE LIKE MOST PEOPLE, YOU WANT TO TAKE ADVANTAGE OF ALL THE TOOLS
AVAILABLE TO MAKE YOUR MONEY MORE PRODUCTIVE. FOR MANY PEOPLE, A MONEY MARKET
FUND IS A NATURAL CHOICE. WITH A MONEY MARKET FUND, YOU CAN:
[SQUARE BULLET] BUILD UP YOUR CASH RESERVES--Keep in mind that some
experts recommend that you keep cash equal to 3-6 months'
income available for emergencies.
[SQUARE BULLET] SAVE FOR A MAJOR PURCHASE--You'll earn attractive,
competitive money market yields and always have access to your
money.
[SQUARE BULLET] HOLD CASH FOR LONG-TERM INVESTMENTS--Your money will
work for you even when it's not invested in long-term mutual
funds, stocks, or bonds.
[PHOTO OF MAN OMITTED]
"I'VE BUILT UP MY SHORT-TERM SAVINGS IN A MONEY MARKET FUND TO HELP ME BE
PREPARED FOR ANY UNPLANNED EXPENSES."
[PHOTO OF MAN OMITTED]
"WHILE I'M SAVING FOR THE DOWNPAYMENT ON A NEW HOUSE, MY MONEY MARKET FUND
PROVIDES ME WITH COMPETITIVE YIELDS -- AND ACCESS TO MY MONEY WHEN INEED IT."
[PHOTO OF WOMAN OMITTED]
"I INVEST IN A MONEY MARKET FUND BECAUSE I DON'T WANT TO TIE UP MY MONEY WHILE I
CONSIDER LONG-TERM INVESTMENT OPPORTUNITIES."
IMPORTANT INFORMATION ABOUT BOSTON 1784 FUNDS:
BOSTON 1784 FUNDS ARE NOT FDIC INSURED, ARE NOT DEPOSITS OR OTHER OBLIGATIONS
OF, OR GUARANTEED BY, ANY BANK, AND INVOLVE INVESTMENT RISKS, INCLUDING
POSSIBLE LOSS OF THE PRINCIPAL AMOUNT INVESTED.
Information is available in the attached profile about Boston 1784 Money
Market Funds, the procedures for investing in the Funds, and the availability
of a prospectus for the Funds. BankBoston, N.A. serves as investment adviser
and shareholder servicing agent for Boston 1784 Funds. Boston 1784 Funds are
distributed by SEI Investments Distribution Co., an independent
broker/dealer.
AN INVESTMENT IN A MONEY MARKET FUND IS NOT INSURED OR GUARANTIED BY THE
FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY. ALTHOUGH
MONEY MARKET FUNDS SEEK TO PRESERVE THE VALUE OF YOUR INVESTMENT AT $1.00 PER
SHARE, IT IS POSSIBLE TO LOSE MONEY BY INVESTING IN A MONEY MARKET FUND.
NOT PART OF THE PROFILE
1
<PAGE>
THREE DISTINCT CHOICES . . .
================================================================================
You can choose from three funds, depending on your goals and preferences,
including:
[SQUARE BULLET] BOSTON 1784 U.S. TREASURY MONEY MARKET FUND, which
invests in U.S. government securities.
[SQUARE BULLET] BOSTON 1784 PRIME MONEY MARKET FUND, which invests in
both corporate and government money market instruments.
[SQUARE BULLET] BOSTON 1784 TAX-FREE MONEY MARKET FUND, which invests
in municipal securities and may offer superior after-tax
returns depending on your income tax bracket.
. . . SAME ATTRACTIVE FEATURES
All Boston 1784 Money Market Funds offer a wide range of features--
including special benefits if you are a BankBoston customer.
================================================================================
[SQUARE BULLET] HIGHER YIELDS
Yields on Boston 1784 Money Market Funds are currently higher than the interest
on most short-term bank deposit accounts.
[SQUARE BULLET] CONVENIENT ACCESS
One of the most important features of any money market fund is the ability to
access your cash quickly. Boston 1784 Money Market Funds offer:
CHECKWRITING--With no additional charges or restrictions, and a $250 per
check minimum.
TELEPHONE TRANSFERS--Sign up and you can move money between your Boston
1784 Money Market Fund and your checking or savings account, with a single
phone call.
AUTOMATIC TRANSFERS--Invest automatically by setting up an automatic
transfer from your checking or savings account to your Boston 1784 Money
Market Fund ($50 minimum/transfer).
[SQUARE BULLET] LOW MINIMUM INVESTMENT
You can open your Boston 1784 Money Market Fund with as little as
$1,000--compared to $2,500 for many mutual fund companies. See page 4 for
complete instructions.
[SQUARE BULLET] SAVINGS OPPORTUNITIES ON A RANGE OF BANKBOSTON SERVICES
Your Boston 1784 Money Market Fund balances count toward your BankBoston Value
Plan or BostonPlus Balance. Depending on the total balance on your consolidated
statement, you may qualify for fee waivers on select BankBoston checking
accounts, discounts on new loans, and more.
[SQUARE BULLET] SIMPLIFIED MONEY MANAGEMENT
Consolidating your BankBoston checking account and Boston 1784 Money Market Fund
activity on a single detailed statement makes it faster and easier to manage the
cash in your accounts.
NOT PART OF THE PROFILE
2
<PAGE>
WHICH BOSTON 1784 MONEY MARKET FUND
IS RIGHT FOR YOU?
================================================================================
BOSTON 1784 U.S. TREASURY MONEY MARKET FUND--
FOR RELATIVELY LOW RISK.
[SQUARE BULLET] Stability and safety are very important to you.
[SQUARE BULLET] You want the opportunity to earn a higher yield than bank
savings and money market deposit accounts.
This Fund invests in U.S. Treasury and related securities. U.S. Treasury
securities are among the safest investments because they are backed by the full
faith and credit of the U.S. government. As the graph below shows, the Fund's
yields have typically been higher than that of bank deposit products such as
bank money market deposit accounts, which usually pay the highest short-term
rates of any bank account.
<TABLE>
<CAPTION>
COMPARISON OF BOSTON 1784 U.S. TREASURY MONEY MARKET FUND TO BANK RATES
[LINE GRAPH OMITTED]
PLOT POINTS FOLLOW:
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BOSTON 1784 U.S. TREASURY
MONEY MARKET FUND 12/94 1/95 2/95 3/95 4/95 5/95 6/95 7/95 8/95 9/95 10/95 11/95 12/95 1/96 2/96 3/96 4/96
- ------------------------------------------------------------------------------------------------------------------------------------
5.33 5.08 5.36 5.49 5.48 5.50 5.49 5.26 5.24 5.27 5.19 5.27 5.10 4.95 4.68 4.80 4.67
BOSTON 1784 U.S. TREASURY
MONEY MARKET FUND 5/96 6/96 7/96 8/96 9/96 10/96 11/96 12/96 1/97 2/97 3/97 4/97 5/97 6/97 7/97 8/97 9/97
- ------------------------------------------------------------------------------------------------------------------------------------
4.43 4.75 4.79 4.82 4.76 4.77 4.75 4.92 4.69 4.67 4.98 4.82 4.98 4.90 4.95 4.95 4.92
BOSTON 1784 U.S. TREASURY
MONEY MARKET FUND 10/97 11/97 12/97 1/98 2/98 3/98 4/98 5/98 6/98 7/98 8/98 9/98 10/98 11/98 12/98 1/99 2/99
- ------------------------------------------------------------------------------------------------------------------------------------
4.91 4.97 5.06 4.95 4.96 4.97 4.85 4.91 4.93 4.91 4.89 4.65 4.39 4.30 4.34 4.24 4.19
BOSTON 1784 U.S. TREASURY
MONEY MARKET FUND 3/99 4/99 5/99 6/99 7/99 8/99 9/99
- ---------------------------------------------------------------------
4.25 4.16 4.18 4.24 4.38 4.52 4.57*
MONEY MARKET DEPOSIT
ACCOUNTS (MMDA)+ 12/94 1/95 2/95 3/95 4/95 5/95 6/95 7/95 8/95 9/95 10/95 11/95 12/95 1/96 2/96 3/96 4/96
- ------------------------------------------------------------------------------------------------------------------------------------
2.72 2.78 2.85 2.89 2.89 2.88 2.88 2.87 2.85 2.84 2.86 2.86 2.85 2.83 2.77 2.75 2.70
MONEY MARKET DEPOSIT
ACCOUNTS (MMDA)+ 5/96 6/96 7/96 8/96 9/96 10/96 11/96 12/96 1/97 2/97 3/97 4/97 5/97 6/97 7/97 8/97 9/97
- ------------------------------------------------------------------------------------------------------------------------------------
2.66 2.67 2.69 2.68 2.68 2.66 2.66 2.63 2.63 2.63 2.64 2.63 2.65 2.66 2.64 2.65 2.66
MONEY MARKET DEPOSIT
ACCOUNTS (MMDA)+ 10/97 11/97 12/97 1/98 2/98 3/98 4/98 5/98 6/98 7/98 8/98 9/98 10/98 11/98 12/98 1/99 2/99
- ------------------------------------------------------------------------------------------------------------------------------------
2.65 2.63 2.62 2.57 2.57 2.56 2.52 2.49 2.48 2.49 2.51 2.49 2.44 2.37 2.24 2.19 2.17*
MONEY MARKET DEPOSIT
ACCOUNTS (MMDA)+ 3/99 4/99 5/99 6/99 7/99 8/99 9/99
- -----------------------------------------------------------------------
2.12 2.08 2.05 2.02 2.02 2.05 2.06*
</TABLE>
BOSTON 1784 PRIME MONEY MARKET FUND--
FOR HIGHER YIELD POTENTIAL.
[SQUARE BULLET] Higher yield potential is important to you.
[SQUARE BULLET] You don't mind taking more risk than a fund that invests
primarily in government securities.
Because this Fund invests in short-term bank and corporate obligations, it may
earn a higher yield than a fund that invests solely in lower-risk government
securities. The graph below shows how yields of Boston 1784 Prime Money Market
Fund have compared with the yields of Boston 1784 U.S. Treasury Money Market
Fund.
<TABLE>
<CAPTION>
COMPARISON OF BOSTON 1784 PRIME MONEY MARKET FUND TO BOSTON 1784 U.S. TREASURY MONEY MARKET FUND
[LINE GRAPH OMITTED]
PLOT POINTS FOLLOW:
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
BOSTON 1784 PRIME
MONEY MARKET FUND 12/94 1/95 2/95 3/95 4/95 5/95 6/95 7/95 8/95 9/95 10/95 11/95 12/95 1/96 2/96 3/96 4/96
- ------------------------------------------------------------------------------------------------------------------------------------
4.84 5.16 5.46 5.59 5.55 5.55 5.50 5.32 5.28 5.34 5.27 5.29 5.23 5.07 4.86 4.94 4.87
BOSTON 1784 PRIME
MONEY MARKET FUND 5/96 6/96 7/96 8/96 9/96 10/96 11/96 12/96 1/97 2/97 3/97 4/97 5/97 6/97 7/97 8/97 9/97
- ------------------------------------------------------------------------------------------------------------------------------------
4.89 4.92 4.92 4.85 4.91 4.87 4.80 5.04 4.93 4.93 4.97 5.05 5.04 5.08 5.01 5.04 5.06
BOSTON 1784 PRIME
MONEY MARKET FUND 10/97 11/97 12/97 1/98 2/98 3/98 4/98 5/98 6/98 7/98 8/98 9/98 10/98 11/98 12/98 1/99 2/99
- ------------------------------------------------------------------------------------------------------------------------------------
5.07 5.12 5.22 5.09 5.05 5.03 4.98 5.02 5.04 5.03 5.02 4.98 4.76 4.68 4.72 4.42 4.36
BOSTON 1784 PRIME
MONEY MARKET FUND 3/99 4/99 5/99 6/99 7/99 8/99 9/99
- ----------------------------------------------------------------------
4.35 4.33 4.23 4.43 4.50 4.67 4.76*
BOSTON 1784 U.S. TREASURY
MONEY MARKET FUND 12/94 1/95 2/95 3/95 4/95 5/95 6/95 7/95 8/95 9/95 10/95 11/95 12/95 1/96 2/96 3/96 4/96
- ------------------------------------------------------------------------------------------------------------------------------------
5.33 5.08 5.36 5.49 5.48 5.50 5.49 5.26 5.24 5.27 5.19 5.27 5.10 4.95 4.68 4.80 4.67
BOSTON 1784 U.S. TREASURY
MONEY MARKET FUND 5/96 6/96 7/96 8/96 9/96 10/96 11/96 12/96 1/97 2/97 3/97 4/97 5/97 6/97 7/97 8/97 9/97
- ------------------------------------------------------------------------------------------------------------------------------------
4.43 4.75 4.79 4.82 4.76 4.77 4.75 4.92 4.69 4.67 4.98 4.82 4.98 4.90 4.95 4.95 4.92
BOSTON 1784 U.S. TREASURY
MONEY MARKET FUND 10/97 11/97 12/97 1/98 2/98 3/98 4/98 5/98 6/98 7/98 8/98 9/98 10/98 11/98 12/98 1/99 2/99
- ------------------------------------------------------------------------------------------------------------------------------------
4.91 4.97 5.06 4.95 4.96 4.97 4.85 4.91 4.93 4.91 4.89 4.65 4.39 4.30 4.34 4.24 4.19
BOSTON 1784 U.S. TREASURY
MONEY MARKET FUND 3/99 4/99 5/99 6/99 7/99 8/99 9/99
- ----------------------------------------------------------------------
4.25 4.16 4.18 4.24 4.38 4.52 4.57*
<FN>
*7-DAY CURRENT YIELD AS OF THE LAST DAY OF EACH MONTH IN THE PERIODS SHOWN.
AN INVESTMENT IN A MONEY MARKET FUND IS NOT INSURED OR GUARANTIED BY THE FEDERALDEPOSIT INSURANCE CORPORATION OR ANY OTHER
GOVERNMENT AGENCY. ALTHOUGH MONEY MARKET FUNDS SEEK TO PRESERVE THE VALUE OF YOUR INVESTMENT AT $1.00 PER SHARE, IT IS POSSIBLE TO
LOSE MONEY BY INVESTING IN A MONEY MARKET FUND.
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS. MONEY MARKET DEPOSIT ACCOUNTS ARE FDIC INSURED. BOSTON 1784 U.S. TREASURY MONEY
MARKET FUND AND BOSTON 1784 PRIME MONEY MARKET FUND ARE NOT FDIC INSURED.
+SOURCE: BANK RATE MONITOR, INC., N. PALM BEACH, FL 33408. MMDA RATES ARE A NATIONAL AVERAGE OF THE TOP 25 MARKETS. RATES
ARE AS OF THE LAST WEEK OF EACH MONTH.
</FN>
</TABLE>
NOT PART OF THE PROFILE
3
<PAGE>
BOSTON 1784 MONEY MARKET FUNDS
INVEST IN YOUR CHOICE TODAY.
================================================================================
BOSTON 1784 TAX-FREE MONEY MARKET FUND--
FOR TAX-FREE CURRENT INCOME**
[SQUARE BULLET] Minimizing additional taxes on your investments is important
to you.
[SQUARE BULLET] Your tax bracket is among the highest.
If your federal tax bracket is among the highest, this Fund's after-tax
performance may compare favorably with funds that pay higher taxable yields. The
Fund invests primarily in municipal securities, so income may be exempt from
federal taxes. The higher your tax bracket, the greater the benefit this may be
to you. Consult your tax adviser for details.
<TABLE>
<CAPTION>
COMPARISON OF TAX-EQUIVALENT YIELDS FOR VARIOUS TAX BRACKETS TO THE ALL-TAXABLE
MONEY MARKET FUNDS AVERAGE
[LINE GRAPH OMITTED]
PLOT POINTS FOLLOW:
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
ALL-TAXABLE MONEY MARKET
FUNDS AVERAGE (SOURCE: IBC
FINANCIAL DATA, INC.) 12/94 1/95 2/95 3/95 4/95 5/95 6/95 7/95 8/95 9/95 10/95 11/95 12/95 1/96 2/96 3/96 4/96
- ------------------------------------------------------------------------------------------------------------------------------------
5.18 5.23 5.49 5.53 5.53 5.48 5.47 5.31 5.25 5.21 5.22 5.26 5.15 5.01 4.78 4.79 4.75
ALL-TAXABLE MONEY MARKET
FUNDS AVERAGE (SOURCE: IBC
FINANCIAL DATA, INC.) 5/96 6/96 7/96 8/96 9/96 10/96 11/96 12/96 1/97 2/97 3/97 4/97 5/97 6/97 7/97 8/97 9/97
- ------------------------------------------------------------------------------------------------------------------------------------
4.78 4.81 4.82 4.83 4.86 4.82 4.88 4.90 4.82 4.80 4.96 4.96 5.04 5.04 5.02 5.05 5.04
ALL-TAXABLE MONEY MARKET
FUNDS AVERAGE (SOURCE: IBC
FINANCIAL DATA, INC.) 10/97 11/97 12/97 1/98 2/98 3/98 4/98 5/98 6/98 7/98 8/98 9/98 10/98 11/98 12/98 1/99 2/99
- ------------------------------------------------------------------------------------------------------------------------------------
5.03 5.09 5.12 5.08 5.07 5.05 5.00 5.00 5.04 5.01 5.03 4.93 4.72 4.57 4.53 4.41 4.37
ALL-TAXABLE MONEY MARKET
FUNDS AVERAGE (SOURCE: IBC
FINANCIAL DATA, INC.) 3/99 4/99 5/99 6/99 7/99 8/99 9/99
- ----------------------------------------------------------------------
4.35 4.28 4.32 4.35 4.47 4.64 4.71*
BOSTON 1784 TAX-FREE
MONEY MARKET FUND 12/94 1/95 2/95 3/95 4/95 5/95 6/95 7/95 8/95 9/95 10/95 11/95 12/95 1/96 2/96 3/96 4/96
- -----------------------------------------------------------------------------------------------------------------------------------
4.14 3.59 3.86 3.77 3.98 3.95 3.91 3.77 3.57 3.86 3.65 3.56 4.17 3.26 3.22 3.21 3.45
BOSTON 1784 TAX-FREE
MONEY MARKET FUND 5/96 6/96 7/96 8/96 9/96 10/96 11/96 12/96 1/97 2/97 3/97 4/97 5/97 6/97 7/97 8/97 9/97
- ------------------------------------------------------------------------------------------------------------------------------------
3.19 3.18 3.18 3.20 3.28 3.26 3.32 3.32 3.14 3.16 3.14 3.65 3.33 3.69 3.37 3.32 3.53
BOSTON 1784 TAX-FREE
MONEY MARKET FUND 10/97 11/97 12/97 1/98 2/98 3/98 4/98 5/98 6/98 7/98 8/98 9/98 10/98 11/98 12/98 1/99 2/99
- ------------------------------------------------------------------------------------------------------------------------------------
3.24 3.39 3.58 3.18 3.10 3.21 3.57 3.35 3.14 3.06 2.99 3.46 3.02 2.85 3.25 2.80 2.72
BOSTON 1784 TAX-FREE
MONEY MARKET FUND 3/99 4/99 5/99 6/99 7/99 8/99 9/99
- ----------------------------------------------------------------------
2.85 3.19 3.02 3.17 2.89 2.92 3.30*
AT 28% 12/94 1/95 2/95 3/95 4/95 5/95 6/95 7/95 8/95 9/95 10/95 11/95 12/95 1/96 2/96 3/96 4/96
- -----------------------------------------------------------------------------------------------------------------------------------
5.75 4.99 5.36 5.24 5.53 5.49 5.43 5.24 4.96 5.36 5.07 4.94 5.79 4.53 4.47 4.46 4.79
AT 28% 5/96 6/96 7/96 8/96 9/96 10/96 11/96 12/96 1/97 2/97 3/97 4/97 5/97 6/97 7/97 8/97 9/97
- ------------------------------------------------------------------------------------------------------------------------------------
4.43 4.42 4.42 4.44 4.56 4.53 4.61 4.61 4.36 4.39 4.36 5.07 4.63 5.13 4.68 4.61 4.90
AT 28% 10/97 11/97 12/97 1/98 2/98 3/98 4/98 5/98 6/98 7/98 8/98 9/98 10/98 11/98 12/98 1/99 2/99
- ------------------------------------------------------------------------------------------------------------------------------------
4.50 4.71 4.97 4.42 4.31 4.46 4.96 4.65 4.36 4.25 4.15 4.81 4.19 3.96 4.51 3.89 3.78
AT 28% 3/99 4/99 5/99 6/99 7/99 8/99 9/99
- ----------------------------------------------------------------------
3.96 4.43 4.19 4.40 4.01 4.06 4.58*
AT 31% 12/94 1/95 2/95 3/95 4/95 5/95 6/95 7/95 8/95 9/95 10/95 11/95 12/95 1/96 2/96 3/96 4/96
- ------------------------------------------------------------------------------------------------------------------------------------
6.00 5.20 5.59 5.46 5.77 5.72 5.67 5.46 5.17 5.59 5.29 5.16 6.04 4.72 4.67 4.65 5.00
AT 31% 5/96 6/96 7/96 8/96 9/96 10/96 11/96 12/96 1/97 2/97 3/97 4/97 5/97 6/97 7/97 8/97 9/97
- ------------------------------------------------------------------------------------------------------------------------------------
4.62 4.61 4.61 4.64 4.75 4.72 4.81 4.81 4.55 4.58 4.55 5.29 4.83 5.35 4.88 4.81 5.12
AT 31% 10/97 11/97 12/97 1/98 2/98 3/98 4/98 5/98 6/98 7/98 8/98 9/98 10/98 11/98 12/98 1/99 2/99
- ------------------------------------------------------------------------------------------------------------------------------------
4.70 4.91 5.19 4.61 4.49 4.65 5.17 4.86 4.55 4.43 4.33 5.01 4.38 4.13 4.71 4.06 3.94
AT 31% 3/99 4/99 5/99 6/99 7/99 8/99 9/99
- ----------------------------------------------------------------------
4.13 4.62 4.38 4.59 4.19 4.23 4.78*
AT 36% 12/94 1/95 2/95 3/95 4/95 5/95 6/95 7/95 8/95 9/95 10/95 11/95 12/95 1/96 2/96 3/96 4/96
- ------------------------------------------------------------------------------------------------------------------------------------
6.47 5.61 6.03 5.89 6.22 6.17 6.11 5.89 5.58 6.03 5.70 5.56 6.52 5.09 5.03 5.02 5.39
AT 36% 5/96 6/96 7/96 8/96 9/96 10/96 11/96 12/96 1/97 2/97 3/97 4/97 5/97 6/97 7/97 8/97 9/97
- ------------------------------------------------------------------------------------------------------------------------------------
4.98 4.97 4.97 5.00 5.13 5.09 5.19 5.19 4.91 4.94 4.91 5.70 5.20 5.77 5.27 5.19 5.52
AT 36% 10/97 11/97 12/97 1/98 2/98 3/98 4/98 5/98 6/98 7/98 8/98 9/98 10/98 11/98 12/98 1/99 2/99
- ------------------------------------------------------------------------------------------------------------------------------------
5.06 5.30 5.59 4.97 4.84 5.02 5.58 5.23 4.91 4.78 4.67 5.41 4.72 4.45 5.08 4.38 4.25
AT 36% 3/99 4/99 5/99 6/99 7/99 8/99 9/99
- ----------------------------------------------------------------------
4.45 4.98 4.72 4.95 4.52 4.56 5.16*
AT 39.6% 12/94 1/95 2/95 3/95 4/95 5/95 6/95 7/95 8/95 9/95 10/95 11/95 12/95 1/96 2/96 3/96 4/96
- -----------------------------------------------------------------------------------------------------------------------------------
6.85 5.94 6.39 6.24 6.59 6.54 6.47 6.24 5.91 6.39 6.04 5.89 6.90 5.40 5.33 5.31 5.71
AT 39.6% 5/96 6/96 7/96 8/96 9/96 10/96 11/96 12/96 1/97 2/97 3/97 4/97 5/97 6/97 7/97 8/97 9/97
- ------------------------------------------------------------------------------------------------------------------------------------
5.28 5.26 5.26 5.30 5.43 5.40 5.50 5.50 5.20 5.23 5.20 6.04 5.51 6.11 5.58 5.50 5.84
AT 39.6% 10/97 11/97 12/97 1/98 2/98 3/98 4/98 5/98 6/98 7/98 8/98 9/98 10/98 11/98 12/98 1/99 2/99
- ------------------------------------------------------------------------------------------------------------------------------------
5.36 5.61 5.93 5.26 5.13 5.31 5.91 5.55 5.20 5.07 4.95 5.73 5.00 4.72 5.38 4.64 4.50
AT 39.6% 3/99 4/99 5/99 6/99 7/99 8/99 9/99
- ----------------------------------------------------------------------
4.72 5.28 5.00 5.25 4.78 4.83 5.46*
<FN>
* 7-DAY CURRENT YIELD AS OF THE LAST DAY OF EACH MONTH IN THE PERIODS SHOWN. AN INVESTMENT IN A MONEY MARKET FUND IS NOT INSURED OR
GUARANTIED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENT AGENCY. ALTHOUGH MONEY MARKET FUNDS SEEK TO
PRESERVE THE VALUE OF YOUR INVESTMENT AT $1.00 PER SHARE, IT IS POSSIBLE TO LOSE MONEY BY INVESTING IN A MONEY MARKET FUND.
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS.
**A PORTION OF THE INCOME OF THIS FUND MAY BE SUBJECT TO ALTERNATIVE MINIMUM
TAX AND/OR LOCAL TAXES. THIS INVESTMENT KIT CONTAINS EVERYTHING YOU NEED TO
OPEN A BOSTON 1784 MONEY MARKET FUND ACCOUNT TODAY, INCLUDING A NEW ACCOUNT
APPLICATION, CHECKWRITING SIGNATURE CARD, AND FUNDS PROFILE.
</FN>
</TABLE>
THIS INVESTMENT KIT CONTAINS EVERYTHING YOU NEED TO OPEN A BOSTON 1784 MONEY
MARKET FUND ACCOUNT TODAY, INCLUDING A NEW ACCOUNT APPLICATION, CHECK-WRITING
SIGNATURE CARD, AND FUNDS PROFILE.
TO INVEST IN A BOSTON 1784 MONEY MARKET FUND:
[SQUARE BULLET] Select the Fund that is right for you.
[SQUARE BULLET] Complete the enclosed New Account Application.
[SQUARE BULLET] If you would like the checkwriting option, complete the
checkwriting signature card.
[SQUARE BULLET] Make out a check payable to "Boston 1784 Funds," or authorize a
debit from your checking/savings account on the application.
[SQUARE BULLET] Give the application and your check to a service representative
in your branch, or mail in the enclosed postage-paid envelope.
You will receive a confirmation of your investment by mail shortly.
If you have any questions on Boston 1784 Money Market Funds, please call
1-800-BKB-1784.
NOT PART OF THE PROFILE
4
<PAGE>
BOSTON 1784 [SERVICE MARK] MONEY MARKET FUNDS
[BULLET] BOSTON 1784 TAX-FREE MONEY MARKET FUND
[BULLET] BOSTON 1784 U.S. TREASURY MONEY MARKET FUND
[BULLET] BOSTON 1784 INSTITUTIONAL U.S. TREASURY
MONEY MARKET FUND
[BULLET] BOSTON 1784 PRIME MONEY MARKET FUND
[BULLET] BOSTON 1784 INSTITUTIONAL PRIME MONEY
MARKET FUND
THIS PROFILE SUMMARIZES KEY INFORMATION
ABOUT BOSTON 1784 MONEY MARKET FUNDS
THAT IS INCLUDED IN THE FUNDS' PROSPECTUS.
THE FUNDS' PROSPECTUS INCLUDES ADDITIONAL
INFORMATION ABOUT THE FUNDS, INCLUDING
A MORE DETAILED DESCRIPTION OF THE RISKS
ASSOCIATED WITH INVESTING IN THE FUNDS
THAT YOU MAY WANT TO CONSIDER BEFORE YOU
INVEST. YOU MAY OBTAIN THE PROSPECTUS AND
OTHER INFORMATION ABOUT THE FUNDS
AT NO COST BY CALLING 1-800-BKB-1784
OR BY VISITING OUR WEB SITE AT
www.boston1784funds.com.
PROFILE
[BOSTON 1784 FUNDS LOGO OMITTED]
MONEY
MARKET
FUNDS
SEPTEMBER 30, 1999
<PAGE>
TABLE OF CONTENTS
================================================================================
WHAT ARE THE FUNDS' GOALS?..................................................1
WHAT ARE THE FUNDS' MAIN INVESTMENT STRATEGIES?.............................2
WHAT ARE THE MAIN RISKS OF INVESTING IN THE FUNDS?..........................3
WHO MAY WANT TO INVEST?...............................................4
HOW HAVE THE FUNDS PERFORMED?.........................................5
WHAT ARE THE FEES AND EXPENSES OF THE FUNDS?................................8
FUND MANAGEMENT.............................................................9
HOW TO PURCHASE SHARES......................................................9
HOW TO SELL SHARES............................................BACK COVER PAGE
DISTRIBUTIONS AND TAX INFORMATION.............................BACK COVER PAGE
SHAREHOLDER SERVICES..........................................BACK COVER PAGE
<PAGE>
BOSTON 1784 MONEY MARKET FUNDS
================================================================================
TAX-FREE MONEY MARKET FUND
U.S. TREASURY MONEY MARKET FUND
INSTITUTIONAL U.S. TREASURY MONEY MARKET FUND
PRIME MONEY MARKET FUND
INSTITUTIONAL PRIME MONEY MARKET FUND
[COMPASS ART OMITTED]
WHAT ARE THE FUNDS' GOALS?
TAX-FREE MONEY MARKET FUND
The Tax-Free Money Market Fund's goals are to preserve the principal value of a
shareholder's investment and maintain a high degree of liquidity while providing
current income that is exempt from federal income tax.
U.S. TREASURY MONEY MARKET FUND
INSTITUTIONAL U.S. TREASURY
MONEY MARKET FUND
PRIME MONEY MARKET FUND
INSTITUTIONAL PRIME
MONEY MARKET FUND
The Funds' goals are to preserve the principal value of a shareholder's
investment and to maintain a high degree of liquidity while providing current
income.
- --------------------------------------------------------------------------------
WHAT IS A MONEY MARKET FUND?
A MONEY MARKET FUND is a type of mutual fund that tries to maintain a share
price of $1.00 while paying income to its shareholders. A stable share price
protects your investment from loss ("PRESERVATION OF PRINCIPAL"). If you need to
sell your shares at any time, you should receive your initial investment plus
any income that you have earned (thereby providing "LIQUIDITY"). However, a
money market fund does not guarantee that you will receive your money back.
A money market fund must follow strict rules as to the investment quality,
maturity, diversification and other features of the securities it purchases.
The average remaining maturity of the securities cannot be greater than 90
days. The remaining maturity of a security is the period of time until the
principal amount must be repaid.
- --------------------------------------------------------------------------------
1
<PAGE>
BOSTON 1784 MONEY MARKET FUNDS
================================================================================
[CHESS ART OMITTED]
WHAT ARE THE FUNDS' MAIN INVESTMENT STRATEGIES?
TAX-FREE MONEY MARKET FUND
The Tax-Free Money Market Fund invests primarily in short-term municipal
securities, which are debt securities issued by states, cities and towns and
other political or public entities or agencies. The interest paid on these debt
securities is free from federal income tax.
The Fund may also enter into repurchase agreements and invest in limited amounts
in securities paying interest that is not free from federal taxes.
U.S. TREASURY MONEY
MARKET FUND
The U.S. Treasury Money Market Fund invests primarily in short-term U.S.
government obligations including Treasury securities, U.S. government agency
securities and repurchase agreements secured by U.S. government obligations.
INSTITUTIONAL U.S. TREASURY
MONEY MARKET FUND
The Institutional U.S. Treasury Money Market Fund invests primarily in
short-term U.S. government obligations, including Treasury securities, U.S.
government agency securities and repurchase agreements secured by U.S.
government obligations.
PRIME MONEY MARKET FUND
The Prime Money Market Fund invests primarily in high quality short-term debt
obligations, including commercial paper, asset-backed commercial paper,
corporate bonds, U.S. government agency obligations, taxable municipal
securities and repurchase agreements.
INSTITUTIONAL PRIME
MONEY MARKET FUND
The Institutional Prime Money Market Fund invests primarily in high quality
short-term debt obligations, including commercial paper, asset-backed commercial
paper, corporate bonds, U.S. government agency obligations, taxable municipal
securities and repurchase agreements.
- --------------------------------------------------------------------------------
WHAT ARE U.S. GOVERNMENT OBLIGATIONS?
U.S. GOVERNMENT OBLIGATIONS or securities are bonds or other debt obligations
issued by, or whose principal and interest are guaranteed by, the U.S.
government or one of its agencies or instrumentalities. U.S. Treasury securities
and some obligations of U.S. government agencies and instrumentalities are
supported by the "full faith and credit" of the United States. Some U.S.
government obligations are backed by the right of the issuer to borrow from the
U.S. Treasury and others only by the credit of the issuing agency or
instrumentality. U.S. government obligations generally have less credit risk
than other debt obligations.
- --------------------------------------------------------------------------------
YOU CAN FIND MORE INFORMATION ABOUT THE FUNDS' INVESTMENTS IN THE FUNDS'
ANNUAL AND SEMI-ANNUAL REPORTS TO SHAREHOLDERS. IN ADDITION, THE FUNDS' ANNUAL
REPORTS CONTAIN A DISCUSSION OF THE MARKET CONDITIONS AND INVESTMENT
STRATEGIES THAT SIGNIFICANTLY AFFECTED THE FUNDS'
PERFORMANCE DURING THE LAST FISCAL YEAR. YOU MAY OBTAIN THESE
REPORTS AT NO COST BY CALLING 1-800-BKB-1784.
2
<PAGE>
================================================================================
[SIGN ART OMITTED]
WHAT ARE THE MAIN RISKS OF INVESTING IN THE FUNDS?
The principal risks of investing in the Money Market Funds and the circumstances
reasonably likely, in the opinion of the Adviser, to affect your investment
adversely are described below. Please note that there are many other factors
that could affect your investment adversely, and that could prevent a Fund from
achieving its objectives, which are not described here. The principal risks are:
[BULLET] The rate of income will vary from day to day depending on short-term
interest rates.
[BULLET] It is possible that a major change in interest rates or a default on
a security or a repurchase agreement held by a Fund could cause the
value of your investment or the performance of the Fund to decline.
[BULLET] Each Money Market Fund may invest up to 5% of its total assets in
zero coupon securities called STRIPS, which are the separately
traded interest and principal component parts of U.S. Treasury
securities. The interest-only component is extremely sensitive to
the rate of principal payments on the underlying obligation. The
market value of the principal-only component generally is unusually
volatile in response to changes in interest rates.
[BULLET] An investment in a Fund is not a deposit of BankBoston and is not
insured or guaranteed by the Federal Deposit Insurance Corporation
or any other governmental agency.
[BULLET] Although the Funds seek to preserve the value of your investment at
$1.00 per share, it is possible to lose money by investing in the
Funds.
3
<PAGE>
BOSTON 1784 MONEY MARKET FUNDS
================================================================================
WHO MAY WANT TO INVEST?
TAX-FREE MONEY MARKET FUND
THIS MONEY MARKET FUND MAY BE APPROPRIATE FOR INVESTORS WHO:
[BULLET] are investing for a short period of time or as part of a savings plan;
[BULLET] are uncomfortable with an investment that will go up and down in value;
[BULLET] want to earn income exempt from federal taxes.
It is not an appropriate investment for tax-sheltered accounts such as IRAs.
U.S. TREASURY MONEY MARKET FUND
THIS MONEY MARKET FUND MAY BE APPROPRIATE FOR INVESTORS WHO:
[BULLET] are investing for a short period of time or as part of a savings plan;
[BULLET] are uncomfortable with an investment that will go up and down in value;
[BULLET] want the added safety of U.S. government securities.
INSTITUTIONAL U.S. TREASURY MONEY MARKET FUND
THIS MONEY MARKET FUND MAY BE APPROPRIATE FOR INSTITUTIONAL INVESTORS WHO:
[BULLET] are investing for a short period of time;
[BULLET] want the added safety of U.S. government securities.
PRIME MONEY MARKET FUND
THIS MONEY MARKET FUND MAY BE APPROPRIATE FOR INVESTORS WHO:
[BULLET] are investing for a short period of time or as part of a savings plan;
[BULLET] are uncomfortable with an investment that will go up and down in value;
[BULLET] are looking for higher returns than are usually available from U.S.
Treasury money market funds.
INSTITUTIONAL PRIME MONEY MARKET FUND
THIS MONEY MARKET FUND MAY BE APPROPRIATE FOR INSTITUTIONAL INVESTORS WHO:
[BULLET] are investing for a short period of time;
[BULLET] are looking for higher returns than are usually available from U.S.
Treasury money market funds.
None of the Money Market Funds alone provides a balanced investment plan.
4
<PAGE>
[FLAG ART OMITTED]
HOW HAVE THE FUNDS PERFORMED?
The charts and tables below give an indication of the Funds' risks and
performance. The charts show changes in the Funds' performance from year to
year. The tables show how the Funds' average annual returns for the periods
indicated compare to those of a broad measure of money market performance.
WHEN YOU CONSIDER THIS INFORMATION, PLEASE REMEMBER THAT A FUND'S PERFORMANCE IN
PAST YEARS IS NOT NECESSARILY AN INDICATION OF HOW A FUND WILL DO IN THE FUTURE.
================================================================================
TAX-FREE MONEY MARKET FUND
================================================================================
TOTAL RETURN
(per calendar year)
[BAR CHART OMITTED--PLOT POINTS ARE AS FOLLOWS:]
1994 2.71%
1995 3.75%
1996 3.25%
1997 3.33%
1998 3.15%
================================================================================
HIGHEST AND LOWEST RETURN (Quarterly 1994-1998)
- --------------------------------------------------------------------------------
QUARTER ENDING
Highest 0.96% June 30, 1995
Lowest 0.58% March 31, 1994
================================================================================
AVERAGE ANNUAL TOTAL RETURNS (through September 30, 1999)
- --------------------------------------------------------------------------------
1 YEAR 5 YEARS LIFE OF FUND
(SINCE 6/14/93)
Tax-Free Money 2.97% 3.30% 3.13%
Market Fund
IBC/Financial Data 2.62% 2.99% 2.82%*
Stockbroker & General
Purpose Tax-Free Average
================================================================================
*(since 5/31/93)
The Fund's 7-day yield for the week ending September 30, 1999 was 3.30%.
================================================================================
U.S. TREASURY MONEY MARKET FUND
================================================================================
TOTAL RETURN
(per calendar year)
[BAR CHART OMITTED--PLOT POINTS ARE AS FOLLOWS:]
1994 3.72%
1995 5.43%
1996 4.82%
1997 4.96%
1998 4.86%
================================================================================
HIGHEST AND LOWEST RETURN (Quarterly 1994-1998)
- --------------------------------------------------------------------------------
QUARTER ENDING
Highest 1.38% June 30, 1995
Lowest 0.64% March 31, 1994
================================================================================
AVERAGE ANNUAL TOTAL RETURNS (through September 30, 1999)
- --------------------------------------------------------------------------------
1 YEAR 5 YEARS LIFE OF FUND
(SINCE 6/7/93)
U.S. Treasury Money 4.37% 4.91% 4.51%
Market Fund
IBC/Financial Data 4.44% 4.87% 4.53%*
U.S. Government
& Agencies Average
================================================================================
*(since 5/31/93)
The Fund's 7-day yield for the week ending September 30, 1999 was 4.57%.
FOR UP-TO-DATE YIELD INFORMATION, PLEASE CALL 1-800-BKB-1784.
5
<PAGE>
BOSTON 1784 MONEY MARKET FUNDS
================================================================================
================================================================================
INSTITUTIONAL U.S. TREASURY MONEY MARKET FUND
================================================================================
TOTAL RETURN
(per calendar year)
[BAR CHART OMITTED--PLOT POINTS ARE AS FOLLOWS:]
1994 4.04%
1995 5.69%
1996 5.14%
1997 5.30%
1998 5.20%
================================================================================
HIGHEST AND LOWEST RETURN (Quarterly 1994-1998)
- --------------------------------------------------------------------------------
QUARTER ENDING
Highest 1.43% June 30, 1995
Lowest 0.76% March 31, 1994
================================================================================
AVERAGE ANNUAL TOTAL RETURNS (through September 30, 1999)
- --------------------------------------------------------------------------------
1 YEAR 5 YEARS LIFE OF FUND
(SINCE 6/14/93)
Institutional U.S. 4.73% 5.23% 4.84%
Treasury Money
Market Fund
IBC/Financial Data 4.60% 5.13% 4.80%*
Government-Only
Institutional-
Only Average
================================================================================
*(since 5/31/93)
The Fund's 7-day yield for the week ending September 30, 1999 was 4.92%.
================================================================================
PRIME MONEY MARKET FUND
================================================================================
TOTAL RETURN
(per calendar year)
[BAR CHART OMITTED--PLOT POINTS ARE AS FOLLOWS:]
1992 3.48%
1993 2.72%
1994 3.75%
1995 5.49%
1996 5.02%
1997 5.14%
1998 5.06%
================================================================================
HIGHEST AND LOWEST RETURN (Quarterly 1992-1998)
- --------------------------------------------------------------------------------
QUARTER ENDING
Highest 1.39% June 30, 1995
Lowest 0.66% March 31, 1994
================================================================================
AVERAGE ANNUAL TOTAL RETURNS (through September 30, 1999)
- --------------------------------------------------------------------------------
1 YEAR 5 YEARS LIFE OF FUND
(SINCE 6/6/91)
Prime Money 4.61% 5.06% 4.47%
Market Fund
IBC/Financial Data 4.49% 4.95% 4.44%*
First Tier Money
Market Average
================================================================================
*(since 5/31/91)
The Fund's 7-day yield for the week ending September 30, 1999 was 4.76%.
FOR UP-TO-DATE YIELD INFORMATION, PLEASE CALL 1-800-BKB-1784.
6
<PAGE>
================================================================================
================================================================================
INSTITUTIONAL PRIME MONEY MARKET FUND
================================================================================
TOTAL RETURN
(per calendar year)
[BAR CHART OMITTED--PLOT POINTS ARE AS FOLLOWS:]
1998 5.40%
================================================================================
HIGHEST AND LOWEST RETURN (Quarterly 1998)
- --------------------------------------------------------------------------------
QUARTER ENDING
Highest 1.35% September 30, 1998
Lowest 1.27% December 31, 1998
================================================================================
AVERAGE ANNUAL TOTAL RETURNS (through September 30, 1999)
- --------------------------------------------------------------------------------
1 YEAR LIFE OF FUND
(SINCE 11/5/97)
Institutional Prime 4.93% 5.20%
Money Market Fund
IBC/Financial Data 4.87% 5.13%*
First Tier Institutional
Only Average
================================================================================
*(Since 10/31/97)
The Fund's 7-day yield for the week ending September 30, 1999 was 5.09%.
FOR UP-TO-DATE YIELD INFORMATION, PLEASE CALL 1-800-BKB-1784.
7
<PAGE>
BOSTON 1784 MONEY MARKET FUNDS
================================================================================
[CALCULATOR ART OMITTED]
WHAT ARE THE FEES AND EXPENSES OF THE FUNDS?
THE TABLES BELOW DESCRIBE THE FEES AND EXPENSES THAT YOU MAY PAY IF YOU BUY AND
HOLD SHARES OF BOSTON 1784 MONEY MARKET FUNDS
<TABLE>
<CAPTION>
================================================================================================================
SHAREHOLDER FEES (fees paid directly from your investment)
- ----------------------------------------------------------------------------------------------------------------
TAX-FREE U.S. TREASURY INSTITUTIONAL U.S. PRIME INSTITUTIONAL
MONEY MONEY TREASURY MONEY MONEY PRIME MONEY
MARKET FUND MARKET FUND MARKET FUND MARKET FUND MARKET FUND
<S> <C> <C> <C> <C> <C>
Maximum Sales Charge (Load) None None None None None
Imposed on Purchases
Maximum Deferred Sales Charge (Load) None None None None None
Maximum Sales Charge (Load) None None None None None
Imposed on Reinvested Dividends
Redemption Fee None None None None None
Exchange Fee None None None None None
================================================================================================================
ANNUAL FUND OPERATING EXPENSES (expenses that are deducted from Fund assets) as a % of average net assets
- ----------------------------------------------------------------------------------------------------------------
Management Fees .40% .40% .20% .40% .20%
Distribution (12b-1) Fees None None None None None
Other Expenses .11% .32% .11% .33% .15%
Total Annual Fund Operating Expenses .51% .72%* .31% .73%* .35%*
- ----------------------------------------------------------------------------------------------------------------
</TABLE>
*Each of these Funds' actual total annual operating expenses for the most recent
fiscal year were less than the amount shown above because of a fee waiver by the
Funds' Adviser. The Adviser waives a portion of its management fees in order to
keep each Fund's total operating expenses at a specified level. The Adviser may
eliminate all or a part of the fee waiver at any time. With the fee waiver, the
Funds' actual total annual operating expenses were as follows:
U.S. TREASURY MONEY MARKET FUND .65%
PRIME MONEY MARKET FUND .65%
INSTITUTIONAL PRIME MONEY MARKET FUND .30%
================================================================================
EXAMPLE
- --------------------------------------------------------------------------------
THIS EXAMPLE IS INTENDED TO HELP YOU COMPARE THE COST OF INVESTING IN BOSTON
1784 MONEY MARKET FUNDS TO THE COST OF INVESTING IN OTHER MUTUAL FUNDS. THE
EXAMPLE ASSUMES THAT YOU INVEST $10,000 IN A FUND FOR THE TIME PERIODS INDICATED
AND THEN SELL ALL OF YOUR SHARES AT THE END OF THOSE PERIODS. THE EXAMPLE ALSO
ASSUMES THAT YOUR INVESTMENT HAS A 5% RETURN EACH YEAR AND THAT THE FUND'S
OPERATING EXPENSES REMAIN THE SAME AS SHOWN IN THE TABLE ABOVE. ALTHOUGH YOUR
ACTUAL COSTS AND THE RETURN ON YOUR INVESTMENT MAY BE HIGHER OR LOWER, BASED ON
THESE ASSUMPTIONS YOUR COSTS WOULD BE:
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------
TAX-FREE U.S. TREASURY INSTITUTIONAL U.S. TREASURY PRIME MONEY INSTITUTIONAL PRIME
MONEY MARKET FUND MONEY MARKET FUND MONEY MARKET FUND MARKET FUND MONEY MARKET FUND
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
1 year $ 52 $ 74 $ 32 $ 75 $ 36
3 years 164 230 100 233 113
5 years 285 401 174 406 197
10 years 640 894 393 906 443
- ----------------------------------------------------------------------------------------------------------------
</TABLE>
8
<PAGE>
================================================================================
FUND MANAGEMENT
The Adviser to the Funds is BankBoston, a national bank with a global presence
that has been providing asset management services to customers since 1890.
BankBoston is a subsidiary of Fleet Boston Corporation.
DAVID H. THOMPSON, Director of Fund Management, and GUY C. HOLBROOK, Fund
Manager, have been co-managers of the Tax-Free Money Market Fund since 1998. Mr.
Thompson, who has more than 28 years experience in investment management,
research analysis and securities trading, has been Director of Fund Management
at BankBoston since 1985. Mr. Holbrook, who has ten years of investment
management experience, was a Research Analyst and Bond Trader at Scudder Kemper
Investments from 1992 to 1998.
EMMETT M. WRIGHT, Senior Fund Manager, has been the manager of the U.S. Treasury
Money Market Fund and the Institutional U.S. Treasury Money Market Fund since
they began operations. Mr. Wright, who has more than seven years of investment
management and research analysis experience, was an Associate Fund Manager at
BankBoston from 1993 to 1994 and has been a Fund Manager at BankBoston since
1994.
LISA W. LEBOEUF, Fund Manager, has been a co-manager of the U.S. Treasury Money
Market Fund and the Institutional U.S. Treasury Money Market Fund since January
1997. Ms. LeBoeuf, who has eight years experience in investment management, has
been with BankBoston since 1978.
MARY K. WERLER, Senior Fund Manager, and LISA W. LEBOEUF, Fund Manager, have
been co-managers of the Prime Money Market Fund since December 1996 and
co-managers of the Institutional Prime Money Market Fund since it began
operations in November 1997. Ms. Werler, who has more than 12 years of
investment management experience, has been a Fund Manager at BankBoston since
1993. From 1987 to 1993, Ms. Werler was an Associate Portfolio Manager with
Keystone Investment Co. Ms. LeBoeuf's investment experience is described above.
HOW TO PURCHASE SHARES
If you are new to the Funds, complete and sign an account application and mail
it to the address on the application.
The Funds do not have any sales charges or fees for buying shares.
Once you have opened an account, you may purchase shares by:
MAIL:
Send your check to:
Boston 1784 Funds
P.O. Box 8524
Boston, MA 02266-8524
Include the name of the Fund(s) and your account number.
TELEPHONE (IF YOU HAVE ELECTED THIS OPTION):
Call 1-800-BKB-1784.
You may elect this option at any time.
You may pay by:
[BULLET] Debit to your bank checking or savings account
[BULLET] Check (made payable to Boston 1784 Funds)
[BULLET] Wire transfer
Please call 1-800-BKB-1784 with any questions.
MINIMUM INVESTMENTS.
To open an account $1,000.00*
For tax-sheltered retirement plans 250.00
To add to an account 250.00**
Through automatic investment plans 50.00
Minimum account balance 1,000.00*
For tax-sheltered retirement plans 250.00
* $100,000 for the Institutional Funds
** $5,000 for the Institutional Funds
9
<PAGE>
BOSTON 1784 MONEY MARKET FUNDS
================================================================================
HOW TO SELL SHARES
Selling your shares in a Fund is called a "redemption" because the Fund buys
back its shares.
On any business day, you may sell (redeem) all or a portion of your shares at
the next NAV calculated after your order is received in good order by:
MAIL:
Send your request to:
Boston 1784 Funds
P.O.Box 8524
Boston, MA 02266-8524
Include the name of the Fund, your account number, the amount of redemption,
your name and any other names on the account, your daytime phone number and
the signature of a registered owner of the account.
TELEPHONE (IF YOU HAVE ELECTED THIS OPTION):
Call 1-800-BKB-1784.
You may elect this option at any time.
Please note that your redemption proceeds may be delayed for up to ten business
days after a purchase. This is to assure that money from the purchase of shares
being redeemed has been received and collected.
Signature requirements vary based on the type of account. A signature guarantee
may be required. Call 1-800-BKB-1784 for more information.
PAYMENT OF REDEMPTION PROCEEDS. Payments may be made by check, or, if you have
chosen these options, by wire transfer or electronic transfer. There is a $12
fee for each wire.
DISTRIBUTIONS AND TAX INFORMATION
Your dividend distributions are declared each day, starting on the day you
purchase your shares. They are paid to your account on the first business day of
each month that you are a shareholder. You will not receive a dividend for the
day on which you sell shares.
You will receive distributions from a Fund in additional shares of that Fund
unless you choose to receive your distributions in cash.
Distributions from the Tax-Free Money Market Fund will generally be exempt from
federal income tax, although some distributions may be taxable. Distributions
from the other Money Market Funds will generally be subject to federal income
tax as ordinary income. Your distributions will be taxed in the same manner
whether you receive them in cash or in additional shares of a Fund.
SHAREHOLDER SERVICES
Boston 1784 Funds offer a variety of services for your convenience,
including:
[BULLET] Telephone purchases, redemptions or exchanges
[BULLET] Automatic Investment Program
[BULLET] Systematic Withdrawal Plan
[BULLET] Checkwriting privileges
[BULLET] Exchange within Boston 1784 Funds family
[BULLET] 24-hour automated access to your account information
[BULLET] Dividend reinvestment into other Boston 1784 Funds
For more information about Boston 1784 Funds or your account, please call
1-800-BKB-1784. Customer service representatives are available Monday through
Friday from 8 a.m. to 6 p.m. Eastern time.
BOSTON 1784 FUNDS [SERVICE MARK]
P.O.BOX 8524
BOSTON, MA 02266-8524
1-800-BKB-1784
www.boston1784funds.com
<PAGE>
CORPORATE RESOLUTION FORM
================================================================================
THIS FORM IS REQUIRED FOR CORPORATIONS, BUSINESS TRUSTS, PARTNERSHIPS, LIMITED
LIABILITY COMPANIES AND OTHER SIMILAR ORGANIZATIONS ONLY AND MUST ACCOMPANY A
COMPLETED NEW ACCOUNT APPLICATION AND/OR THE CHECKWRITING SIGNATURE CARD.
(Bullet) FOR TELEPHONE REDEMPTION, COMPLETE SECTIONS 1, 2 AND 4.
(Bullet) FOR CHECKWRITING, COMPLETE SECTIONS 3 AND 4.
(Bullet) FOR BOTH FEATURES COMPLETE SECTIONS 1, 2, 3 AND 4.
================================================================================
1. RESOLUTIONS FOR TELEPHONE REDEMPTION
RESOLVED: In connection with any funds invested in shares of
- --------------------------------------------------------------------------------
NAME OF BOSTON 1784 FUND(S) AND ACCOUNT NUMBER(S) (IF AVAILABLE)
- --------------------------------------------------------------------------------
TITLE(S)OR NAME(S) OF THOSE WITH AUTHORITY
(are) (is) hereby authorized to execute an authorization of telephone
redemptions and to name the following bank as the recipient of the proceeds of
any such redemptions:
- --------------------------------------------------------------------------------
FURTHER RESOLVED: That the (Clerk) (Assistant Clerk) (Secretary) (Assistant
Secretary) (Managing Partner) (Member) (Manager) be and hereby is authorized and
directed to certify the foregoing resolution and that the provisions thereof are
in conformity with the (Articles of Organization) (Certificate of Incorporation)
(Charter) (Declaration of Trust) (Partnership Agreement) and (By-Laws)
(Operating Agreement) of this (Corporation) (Trust) (Partnership) (Limited
Liability Company).
================================================================================
2. APPOINTMENT OF AGENTS FOR TELEPHONE REDEMPTION AUTHORIZATION
We, the undersigned, constitute and appoint Boston 1784 Funds' Transfer Agent
and Shareholder Servicing Agent (collectively the "Agents") our true and lawful
attorneys to surrender for redemption any and all shares held by
- --------------------------------------------------------------------------------
ACCOUNT NAME AND ADDRESS
- --------------------------------------------------------------------------------
with full power of substitution in the premises. The Agents are hereby
authorized and directed to accept and act upon any telephone directions for
redemptions of shares held in the above account from any person who requests
payment to be made to the bank account identified in the Application Form
submitted herewith.
BOSTON 1784 FUNDS, P.O. BOX 8524, BOSTON, MA 02266-8524
FOR INFORMATION, CALL: 1-800-BKB-1784
We understand and agree that the Agents will not be liable for any loss, expense
or costs arising out of any telephone request for redemption so long as the
Agents act in accordance with the telephone redemption procedures as described
in the profile of Boston 1784 Funds, as amended from time to time. (This
authorization and the following certificate must be completed and received by
the Agents before telephone ACH or wire redemption requests for transmission of
funds will be honored. Any amendment or modification of the above information
will require that a new Corporate Resolution Form be completed and submitted,
with a completed Telephone Redemption Form with a signature guarantee.)
We hereby certify that each of the persons listed below has been duly elected
and is now legally holding the office set forth opposite his name.
- --------------------------------------------------------------------------------
PLEASE PRINT OR TYPE FULL NAME(S) AND TITLE(S)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
SIGNATURE(S)
We further certify that said
- --------------------------------------------------------------------------------
TYPE OF ORGANIZATION
is duly organized and existing, and has the power to take the action called for
by the foregoing resolutions.
We further certify and agree that the above certifications, authorizations and
appointments will continue until the Agents receive actual written notice of any
change thereof.
PLEASE COMPLETE OTHER SIDE
5
<PAGE>
================================================================================
3. RESOLUTIONS FOR CHECKS
RESOLVED: That this (Corporation) (Trust) (Partnership) (Limited Liability
Company) open a checking account with Boston 1784 Funds (the Funds) in the name
of this (Corporation) (Trust) (Partnership) (Limited Liability Company) and that
the funds on deposit in such account be subject to withdrawal or charge at any
time by checks or orders for the payment of money when made, signed or drawn on
the Company's behalf by any of the following:
- --------------------------------------------------------------------------------
NAME AND TITLE OF OFFICERS
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
including those drawn to the individual order of a signer, without any
obligation of inquiry on the part of the Funds as to the circumstances of their
issue or reason for payment.
FURTHER RESOLVED: That until duly notified in writing of a resolution to the
contrary, the Funds is authorized to accept and to act upon the certificate of
the (Clerk) (Assistant Clerk) (Secretary) (Assistant Secretary) (Managing
Partner) (Member) (Manager) or any other officer of this (Corporation) (Trust)
(Partnership) (Limited Liability Company) as to the name of the present and
future officers of this (Corporation) (Trust) (Partnership) (Limited Liability
Company) and to act and rely upon any signatures of officers, or other persons,
if any, authorized to sign and act for this (Corporation) (Trust) (Partnership)
(Limited Liability Company) which are furnished to the Funds by such (Clerk)
(Assistant Clerk) (Secretary) (Assistant Secretary) (Managing Partner) (Member)
(Manager) or any other officer.
FURTHER RESOLVED: That the Funds and the Agents are hereby appointed agents of
this (Corporation) (Trust) (Partnership)(Limited Liability Company) and, as such
agents, directed to redeem shares of
--------------------------------------------
NAME OF BOSTON 1784 FUND
registered in the name of this (Corporation) (Trust) (Partnership) (Limited
Liability Company) and, upon receipt of, and to the amount of, checks drawn upon
the (Corporation's) (Trust's) (Partnership's) (Limited Liability Company's)
checking account; provided, however, that no such redemption shall be effected
for less than $250 or such other minimum amount as may from time to time be
established by the Agents.
That the aforesaid appointment of the Funds and the Agents as agents shall be
effective upon receipt of said agents of a copy of these resolutions and without
the need of further evidence thereof.
FURTHER RESOLVED: That the preceding resolutions are to remain in full force and
effect unless and until terminated by subsequent resolution by the (Board of
Directors) (Trustees) (Partners or Managing Partners) (Members) and until
written notice thereof is delivered to the Agents.
FURTHER RESOLVED: That the (Clerk) (Assistant Clerk) (Secretary) (Assistant
Secretary) (Managing Partner) (Member) (Manager) be and hereby is authorized and
directed to certify the foregoing resolutions and that the provisions thereof
are in conformity with the (Articles of Organization) (Certificate of
Incorporation) (Charter) (Declaration of Trust) (Partnership Agreement) and
(By-Laws) (Operating Agreement) of this (Corporation) (Trust) (Partnership)
(Limited Liability Company).
================================================================================
4. CERTIFICATION
I hereby certify that the foregoing resolutions relating to:
[SQUARE BULLET] Telephone Redemption [SQUARE BULLET] Checkwriting are in
conformity with the (Articles of Organization) (Certificate of Incorporation)
(Charter) (Declaration of Trust) (Partnership Agreement) and the
(By-Laws) (Operating Agreement) of the___________________________________
NAME OF ORGANIZATION
organized under the laws of ______________ and were adopted (by
STATE
unanimous consent) (at a meeting) of the (Board of Directors) (Trustees)
(Partners)(Members) of the (Corporation) (Trust) (Partnership) (Limited
Liability Company) duly called and held on __________ at
DATE
which a quorum was present and acting throughout, and that the same are now in
full force and effect. I further certify that the following is (are) the duly
elected officer(s) of the (Corporation) (Trust) (Partnership) (Limited Liability
Company), authorized to act in accordance with the foregoing resolutions.
- --------------------------------------------------------------------------------
NAME TITLE
- --------------------------------------------------------------------------------
NAME TITLE
Witness my (our) hand(s) and the seal of the (Corporation) (Trust) (Partnership)
(Limited Liability Company) this ______________ day of __________________ ,
________ .
- --------------------------------------------------------------------------------
SECRETARY, CLERK, MANAGING PARTNER, MEMBER OR MANAGER CONFIRMED
- --------------------------------------------------------------------------------
OTHER OFFICER
IF THE SECRETARY OR OTHER RECORDING OFFICER IS AUTHORIZED TO ACT BY THE ABOVE
RESOLUTIONS, THIS CERTIFICATE MUST ALSO BE SIGNED BY ANOTHER OFFICER.
6
<PAGE>
BOSTON 1784 FUNDS
INVESTMENT CHOICES TO MEET A RANGE OF GOALS.
================================================================================
IN ADDITION TO MONEY MARKET FUNDS, THE BOSTON 1784 FUNDS FAMILY INCLUDES STOCK,
BOND AND TAX-EXEMPT FUNDS TO MEET A WIDE RANGE OF INVESTMENT GOALS. YOU MAY
SELECT INDIVIDUAL FUNDS TO TARGET VERY SPECIFIC INVESTMENT OBJECTIVES OR COMBINE
BOSTON 1784 FUNDS TO CREATE AN ENTIRE PORTFOLIO STRUCTURED IN THE MOST EFFECTIVE
WAY TO MEET YOUR LONG-TERM GOALS.
MONEY MARKET FUNDS
BOSTON 1784 TAX-FREE MONEY MARKET FUND
BOSTON 1784 U.S. TREASURY MONEY MARKET FUND
BOSTON 1784 INSTITUTIONAL U.S. TREASURY MONEY
MARKET FUND
BOSTON 1784 PRIME MONEY MARKET FUND
BOSTON 1784 INSTITUTIONAL PRIME MONEY
MARKET FUND
BOND FUNDS
BOSTON 1784 SHORT-TERM INCOME FUND
BOSTON 1784 INCOME FUND
BOSTON 1784 U.S. GOVERNMENT MEDIUM-
TERM INCOME FUND
TAX-EXEMPT INCOME FUNDS
BOSTON 1784 TAX-EXEMPT MEDIUM-TERM INCOME FUND
BOSTON 1784 CONNECTICUT TAX-EXEMPT INCOME FUND
BOSTON 1784 FLORIDA TAX-EXEMPT INCOME FUND
BOSTON 1784 MASSACHUSETTS TAX-EXEMPT INCOME FUND
BOSTON 1784 RHODE ISLAND TAX-EXEMPT INCOME FUND
STOCK FUNDS
BOSTON 1784 ASSET ALLOCATION FUND
BOSTON 1784 GROWTH AND INCOME FUND
BOSTON 1784 GROWTH FUND
BOSTON 1784 INTERNATIONAL EQUITY FUND
FOR MORE COMPLETE INFORMATION ON ALL BOSTON 1784 FUNDS, INCLUDING CHARGES AND
EXPENSES, PLEASE CALL 1-800-BKB-1784 FOR A FREE PROSPECTUS. PLEASE READ THE
PROSPECTUS CAREFULLY BEFORE YOU INVEST OR SEND MONEY.
THE SIMPLE, CONVENIENT
WAY TO INVEST.
[SQUARE BULLET] NO-LOAD INVESTING --
No sales charges, exchange or redemption fees.
[SQUARE BULLET] LOW MINIMUM INVESTMENT --
Initial investment of $1,000 with additional investments as
low as $250.
[SQUARE BULLET] AUTOMATIC INVESTMENT OF AS LITTLE AS $50 --
Arrange to have funds automatically invested from your
bank account.
[SQUARE BULLET] 24-HOUR ACCESS --
Automated account information at 1-800-BKB-1784 24-hours
a day.
[SQUARE BULLET] MONTHLY INVESTMENT STATEMENT --
Receive information on all your Boston 1784 Funds monthly.
In addition, you'll receive written confirmation each time
you buy or sell shares.
NOTE: THE INSTITUTIONAL U.S. TREASURY MONEY MARKET FUND AND INSTITUTIONAL
PRIME MONEY MARKET FUND HAVE HIGHER MINIMUMS FOR INITIAL INVESTMENT AND
AUTOMATIC INVESTMENT.
[BOSTON 1784 FUNDS OMITTED]
NOT PART OF THE PROFILE
7
<PAGE>
[LOGO OMITTED]
NEW ACCOUNT APPLICATION
- --------------------------------------------------------------------------------
Boston 1784 Funds, P.O. Box 8524, Boston, MA 02266-8524
For information, call: 1-800-BKB-1784
Please print clearly all items except signature
- --------------------------------------------------------------------------------
1. WHOSE NAME(S) WOULD YOU LIKE ON YOUR ACCOUNT?
- --------------------------------------------------------------------------------
OWNER'S FIRST NAME OR BUSINESS NAME MIDDLE INITIAL LAST NAME
- --------------------------------------------------------------------------------
JOINT OWNER'S FIRST NAME MIDDLE INITIAL LAST NAME
- --------------------------------------------------------------------------------
ADDRESS
- --------------------------------------------------------------------------------
CITY STATE ZIP
( ) ( )
- --------------------------------------------------------------------------------
DAYTIME PHONE EVENING PHONE
- --------------------------------------------------------------------------------
OWNER: SOCIAL SECURITY OR TAX PAYER I.D. NUMBER
- --------------------------------------------------------------------------------
DATE OF BIRTH OCCUPATION
[open box] U.S. Citizen [open box] Other ______________________________
- --------------------------------------------------------------------------------
2. WHAT TYPE OF ACCOUNT WOULD YOU LIKE TO OPEN?
PLEASE COMPLETE ONLY ONE SECTION
[open box] Individual [open box] Joint Owner* (cannot be a minor)
[open box] Gift or Transfer to Minor
- --------------------------------------------------------------------------------
CUSTODIAN'S NAME (ONLY ONE PERMITTED)
- --------------------------------------------------------------------------------
MINOR'S NAME (ONLY ONE PERMITTED) SOCIAL SECURITY # DATE OF BIRTH
[open box] A Trust (including Corporate Pension Plans):
- --------------------------------------------------------------------------------
NAME OF TRUST
- --------------------------------------------------------------------------------
TRUST TAX I.D. # DATE OF TRUST AGREEMENT
[open box] A Corporation, Partnership or other entity:
- --------------------------------------------------------------------------------
NAME OF CORPORATION OR OTHER ENTITY (Please be sure to complete a Corporate
Resolution form found on page 5 of this kit.)
* A joint account is assumed to mean joint tenants with rights of survivorship.
Other joint account options are available. Please call for more information.
- --------------------------------------------------------------------------------
3. WHICH FUND(S) SHARES WOULD YOU LIKE TO PURCHASE?
PLEASE NOTE THE MINIMUM INITIAL INVESTMENT IS $1,000 PER FUND ($100,000 FOR
BOSTON 1784 INSTITUTIONAL U.S. TREASURY MONEY MARKET FUND AND BOSTON 1784
INSTITUTIONAL PRIME MONEY MARKET FUND).
[open box] $ __________ Prime Money Market (932)
[open box] $ __________ U.S. Treasury Money Market (902)
[open box] $ __________ Tax-Free Money Market (901)
[open box] $ __________ Institutional Prime Money Market (900)
[open box] $ __________ Institutional U.S. Treasury Money Market (903)
[open box] $ __________ Other:
[open box] $ __________ TOTAL INVESTMENT
Method of Payment: Please check one of the options below.
[open box] ENCLOSED IS MY CHECK for the total amount of my investment made
payable to Boston 1784 Funds.
[open box] DEBIT MY CHECKING OR SAVINGS ACCOUNT. (Please be sure to attach a
voided check or savings withdrawal slip and complete the information
under Electronic Transfer and Bank Wire in Section 5.)
4. HOW SHOULD WE DISTRIBUTE YOUR EARNINGS?
All dividend income, if any, should be distributed as follows:
[open box] Reinvest dividends automatically into my Fund(s).
[open box] Credit my checking or savings account. Please be sure to fill in
Electronic Transfer and Bank Wire section and attach a voided check
or savings withdrawal slip to this form.
[open box] Send a check to my address of record.
NOTE: IF NO BOX IS CHECKED, ALL DIVIDEND INCOME WILL BE REINVESTED
AUTOMATICALLY.
5. WHICH OPTIONS WOULD YOU LIKE ON YOUR ACCOUNT?[dagger]
A. TELEPHONE PRIVILEGE AUTHORIZATION
By checking the box(es) below, I/we authorize the Shareholder Servicing Agent
of Boston 1784 Funds to act upon instructions received by telephone from me/us
to perform the following services:
[open box] EXCHANGE BETWEEN BOSTON 1784 FUNDS.
[open box] ELECTRONIC TRANSFER OF MONEY BETWEEN FUND(S) AND BANK ACCOUNT (ACH):
Please complete the Electronic Transfer and Bank Wire section below.
[open box] WIRE TRANSFER: I/We understand that a fee is charged each time I/we
request a wire redemption. Please complete the Electronic Transfer
and Bank Wire section below.
[open box] SEND CHECK TO MY ADDRESS OF RECORD.
B. ELECTRONIC TRANSFER AND BANK WIRE
If you wish to redeem shares with payment via electronic transfer or wire
transfer, PLEASE ATTACH A VOIDED CHECK OR SAVINGS WITHDRAWAL SLIP FOR THE BANK
ACCOUNT YOU WISH TO USE, AND provide full bank account information below. Please
notify Boston 1784 Funds in writing of any change to these instructions.
- --------------------------------------------------------------------------------
BANK NAME BRANCH OFFICE (IF APPLICABLE)
- --------------------------------------------------------------------------------
BANK ADDRESS (DO NOT USE P.O. BOX)
- --------------------------------------------------------------------------------
CITY STATE ZIP
- --------------------------------------------------------------------------------
NAME(S) ON BANK ACCOUNT
- --------------------------------------------------------------------------------
BANK ACCOUNT # BANK ABA #.
Account Type (check one): [open box] Checking [open box] Savings/Money Market
- --------------------------------------------------------------------------------
ATTACH VOIDED CHECK OR SAVINGS WITHDRAWAL SLIP HERE
- --------------------------------------------------------------------------------
C. CHECKWRITING PRIVILEGE
If you elect this service, be sure to fill out and sign a Checkwriting Signature
Card and return it in the envelope provided. (Please note that we will need a
signature guarantee to establish this option at a later date.) Allow 14 business
days after we receive your signed signature card for delivery of your checkbook.
Checks may be written against your investment for a minimum of $250 each check.
These checks are not immediately redeemable at your branch.
Which fund(s) would you like to use for this service?
[open box] Prime Money Market (932)
[open box] U.S. Treasury Money Market (902)
[open box] Tax-Free Money Market (901)
D. SYSTEMATIC INVESTMENT PLAN
I/We authorize the Shareholder Servicing Agent of Boston 1784 Funds to draw on
my/our bank account, as indicated below ($50 MINIMUM) for investment in my/our
Boston 1784 Funds account. I/We understand that if there are insufficient funds
in my/our account, service charges may apply. Please attach a voided check and
provide your bank information in the Electronic Transfer and Bank Wire section
above.
PREFERRED INVESTMENT SCHEDULE:
$
- --------------------------------------------------------------------------------
FUND NAME AMOUNT ($50 MINIMUM) WITHDRAWAL DAY(S)**
$
- --------------------------------------------------------------------------------
FUND NAME AMOUNT ($50 MINIMUM) WITHDRAWAL DAY(S)**
**You may make investments either monthly or twice monthly. Please indicate the
day(s), i.e., 15th, 20th, on which you wish to make investments.
E. STATEMENT LINKAGE FOR BANKBOSTON CUSTOMERS
Please link my Boston 1784 Money Market Fund(s) to my BankBoston
checking/savings statement.
- --------------------------------------------------------------------------------
BANKBOSTON ACCOUNT #
[dagger] Optional services can also be added to an existing account using the
Authorization for Optional Services form.
If you received a profile, you may wish to review a copy of the prospectus
before you invest. The prospectus provides additional information about the
Funds. To receive a copy call 1-800-BKB-1784. Please review carefully the
information in the profile or prospectus before investing.
- --------------------------------------------------------------------------------
CHECKWRITING SIGNATURE CARD
(SUBJECT TO CONDITIONS ON REVERSE SIDE)
To make use of checkwriting privileges on an account, all registered
shareholders or fiduciaries must sign this card.*
PLEASE INDICATE NAME OF THE BOSTON 1784 FUND:
[open box] Prime Money Market (932)
[open box] U.S. Treasury Money Market (902)
[open box] Tax-Free Money Market (901)
*Minors and powers of attorney will not be accepted.
[BOUNDING BOX]
For internal use only:
- ------------------------------
Account Number
[END OF BOUNDING BOX]
- --------------------------------------------------------------------------------
NAME (Please print clearly) SOCIAL SECURITY/TAXPAYER I.D. NO.
X
- --------------------------------------------------------------------------------
SIGNATURE*
- --------------------------------------------------------------------------------
NAME (Please print clearly) SOCIAL SECURITY/TAXPAYER I.D. NO.
X
- --------------------------------------------------------------------------------
SIGNATURE*
- --------------------------------------------------------------------------------
NAME (Please print clearly) SOCIAL SECURITY/TAXPAYER I.D. NO.
X
- --------------------------------------------------------------------------------
SIGNATURE*
<PAGE>
6. PLEASE READ YOUR SHAREHOLDER AGREEMENT...
In this Agreement, "I," "my," "you" and "your" means each customer individually
and/or any two or more customers signing this Agreement.
[ballot box] I have full right, power, authority and legal capacity to purchase
shares of the Fund(s) and such purchases are not illegal in my state of
residence. I affirm that the Funds' prospectus or profile has been provided or
made available to me and that I agree to its terms. I understand the investment
objectives and program, and have determined that the Fund(s) is/are a suitable
investment, based upon my investment needs and financial situation. I agree that
neither SEI Investments Distribution Co., Federated Securities Corp., Federated
Municipal Trust, the Shareholder Servicing Agent, Boston 1784 Funds, nor any
bank or broker-dealer through which purchases may be made, nor any affiliate of
any of the foregoing or any of their agents, officers, directors, or employees
("Other Parties") will be liable for any loss, expense, or cost from my
investment decision, nor from acting upon my instructions or inquiries believed
to be genuine, including instructions received by telephone, if the procedures
described in the prospectus(es) concerning verification are followed.
[ballot box] I understand that the authorization(s) with respect to telephone
transactions, wire redemption and electronic transfer are subject to the
conditions and limitations set forth in the current prospectus(es). I ratify any
instructions given pursuant to the above authorization(s) and agree that no
Other Party will be liable for any loss, expense, or cost from my investment
decision, nor from acting upon my instructions or inquiries believed genuine,
including instructions received by telephone if the procedures described in the
prospectus(es) concerning verification are followed. I authorize you to honor
all debit and credit entries initiated by me. All my debits are subject to
sufficient collected funds in the account noted above. I further agree that if
any such entries are dishonored with good and sufficient cause, no Other Party
shall be under any liability whatsoever. I understand that for joint accounts
"I" refers to all account owners, and each of the account owners agrees that any
account owner has authority to act on the account without notice to the other
account owners. The Shareholders Servicing Agent, in its own discretion and for
its protection, may require the written consent of all account owners prior to
acting upon the instructions of any account owner.
[ballot box] I understand and acknowledge that Boston 1784 Funds shares are not
insured by the FDIC or any other government agency; are not deposits or other
obligations of, or guaranteed by any bank; and involve investment risks,
including possible loss of the principal amount invested. I understand that
Boston 1784 Funds are distributed by SEI Investments Distribution Co. and that
Massachusetts Municipal Cash Trust, a portfolio of Federated Municipal Trust, is
distributed by Federated Securities Corp.
[ballot box] I understand and agree that any telephone conversation with Boston
1784 Funds, the Shareholder Servicing Agent, or any bank or broker-dealer or any
of their affiliates may be recorded for accuracy.
[ballot box] This Agreement shall be governed by the laws of the Commonwealth
of Massachusetts. Unless otherwise specified, Uniform Gifts or Transfers to
Minors Act accounts will be governed by the Act of the custodian's state of
residence when the account is opened.
- --------------------------------------------------------------------------------
7. ...AND SIGN BELOW BEFORE SENDING YOUR COMPLETED APPLICATION
Under the penalties of perjury, I certify the following:
[ballot box] The number shown on this form is my/our correct Social Security/
Taxpayer ID Number.
[ballot box] I am not subject to back-up withholding either because I have not
been notified that I am subject to back-up withholding as a result
of a failure to report all interest and dividends, or the Internal
Revenue Service has notified me that I am no longer subject to
back-up withholding, or I am exempt from back-up withholding.
[ballot box] I hereby authorize the Shareholder Servicing Agent to deposit or
withdraw funds, described above, to my account at the financial
institution named in Section 5 and to adjust any over-deposit or
under-withdrawal which is caused to be made to my account. I will
not hold the financial institution named above liable for any
erroneous deposits, withdrawals or adjustments made by the
Shareholder Servicing Agent.
X
- --------------------------------------------------------------------------------
SIGNATURE (INDIVIDUAL OR CUSTODIAN) DATE
X
- --------------------------------------------------------------------------------
SIGNATURE (JOINT OWNER, IF ANY) DATE
X
- --------------------------------------------------------------------------------
SIGNATURE & TITLE (CORPORATE OFFICER, PARTNER, TRUSTEE) DATE
- --------------------------------------------------------------------------------
8. PLEASE COMPLETE THIS SECTION ONLY IF YOU ARE A NON-RESIDENT ALIEN
Certificate of Foreign Status (Substitute W-8 Form) (Non-Resident Alien)
[ballot box] Under penalties of perjury, I certify that, to the best of my
knowledge and belief, I qualify as a foreign person because I am
not a U.S. citizen or resident.
X
- --------------------------------------------------------------------------------
SIGNATURE OF APPLICANT DATE
- --------------------------------------------------------------------------------
PERMANENT ADDRESS
- --------------------------------------------------------------------------------
COUNTRY OF CITIZENSHIP
Certificate of Foreign Status (Substitute W-8 Form)
(Non-Resident Alien Co-Applicant)
[ballot box] Under penalties of perjury, I certify that, to the best of my
knowledge and belief, I qualify as a foreign person because I am
not a U.S. citizen or resident.
X
- --------------------------------------------------------------------------------
SIGNATURE OF CO-APPLICANT DATE
- --------------------------------------------------------------------------------
PERMANENT ADDRESS
- --------------------------------------------------------------------------------
COUNTRY OF CITIZENSHIP
MAIL YOUR COMPLETED APPLICATION IN THE ENCLOSED POSTAGE-PAID ENVELOPE TO:
BOSTON 1784 FUNDS
P.O. BOX 8524
BOSTON, MA 02266-8524.
THANK YOU FOR YOUR INVESTMENT IN BOSTON 1784 FUNDS. WE WILL SEND YOU WRITTEN
CONFIRMATION SHORTLY.
[BEGINNING OF BOUNDING BOX]
FOR INTERNAL USE ONLY:
- --------------------------------------------------------------------------------
CHECKING/SAVINGS ACCOUNT NUMBER FOR LINKAGE TO STATEMENT:
BANK CODE: YOUR BRANCH'S
001 (MA and NH), 426 (RI), 401 (CT): _________ 4-DIGIT RC: ____________
YOUR NAME AND
PERFORMANCE PLUS I.D. #: _____________________________________________________
NAME OF REPRESENTATIVE PERFORMANCE PLUS I.D.#
[END OF BOUNDING BOX]
MF-0119MM (1/99)
- --------------------------------------------------------------------------------
CHECKWRITING SIGNATURE CARD
(NOT AVAILABLE FOR RETIREMENT ACCOUNTS)
Please provide information requested on the reverse side. The payments of funds
on the conditions set forth below is authorized by the signature(s) appearing on
the reverse side. Allow 14 business days after our receipt of the signed
signature card for delivery of your checkbook, which includes 15 checks, 5
investment purchase forms and a reorder form. Checks may be written against your
Boston 1784 Prime Money Market Fund, Boston 1784 U.S. Treasury Money Market Fund
or Boston 1784 Tax-Free Money Market Fund investments for a minimum of $250 each
check. These checks are not immediately redeemable at your branch.
CERTIFICATION: I hereby authorize Boston 1784 Funds to honor checks drawn by me
on my Boston 1784 Funds account and to effect a redemption of sufficient shares
in my account to cover payments of such checks. I understand that: (1) this
privilege may be terminated at any time by the Fund and it shall not incur any
liability to me for honoring such checks, or for effecting redemptions to pay
such checks, or for returning checks which have not been paid; (2) no check
shall be issued or honored, or redemption effected for any amounts represented
by shares unless payment for such shares has been made in full and any checks
given in such payment have been collected through normal banking channels; (3)
only one signature is required for a joint account; and (4) this privilege is
subject to all terms and conditions contained in the current Boston 1784 Funds
prospectus(es).
<PAGE>
Bingham Dana LLP
150 Federal Street
Boston, MA 02110
October 19, 1999
VIA EDGAR
Securities and Exchange Commission
Division of Investment Management
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
RE: Boston 1784 Funds (File Nos. 33-58004 and 811-7474)
Ladies and Gentlemen:
On behalf of our client, Boston 1784 Funds, a Massachusetts business trust,
we enclose for filing pursuant to Rule 497(k)(1)(iii)(B) under the Securities
Act of 1933 (the "Act"), a revised definitive Profile for the Boston 1784 Money
Market Funds, prepared in accordance with Rule 498 under the Act, which updates
as of September 30, 1999 the Profile's performance tables, fund management
disclosure and information about the purchase and sale of shares.
Please call Mari A. Wilson at 617-951-8381 or the undersigned at
617-951-8706 with any comments or questions relating to the Profile.
Very truly yours,
Frans C. Wethly
cc: Roger P. Joseph, Esq.
Toby S. Serkin, Esq.
Mari A. Wilson, Esq.
<PAGE>
