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RESERVE PRIVATE EQUITY SERIES
SUPPLEMENT DATED DECEMBER 1, 2000
TO THE RESERVE PRIVATE EQUITY SERIES PROSPECTUS DATED SEPTEMBER 29, 2000
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Currently, the Reserve Large Cap Growth Fund is sub-advised by Harbor Capital
Management Company, Inc. However, Reserve Management Co., Inc., is pleased to
announce that, effective January 2, 2001, Steinberg Global Asset Management will
replace Harbor Capital Management Company, Inc. as the sub-adviser of the
Reserve Large Cap Growth Fund. The appointment of Steinberg Global Asset
Management is subject to final approval by the Board of Trustees at its December
13, 2000 meeting.
STEINBERG GLOBAL ASSET MANAGEMENT, LTD., 50 ROWES WHARF, SUITE 420, BOSTON,
MA 02110, a registered investment adviser, was incorporated in 1993 and manages
over $280 million for pension funds, endowments, foundations, corporations
and high net worth individuals. Richard D. Steinberg, CFA, co-founder, serves
as the President and Chief Investment Officer and will be the Fund's primary
portfolio manager, responsible for the day-to-day investment decisions of the
Fund.
