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ONE GROUP(R) INVESTMENT TRUST
PROSPECTUS
Supplement dated April 12, 1999
to Prospectus dated March 31, 1999
ONE GROUP INVESTMENT TRUST BOND PORTFOLIO
ONE GROUP INVESTMENT TRUST GOVERNMENT BOND PORTFOLIO
ONE GROUP INVESTMENT TRUST BALANCED PORTFOLIO
ONE GROUP INVESTMENT TRUST LARGE CAP GROWTH PORTFOLIO
ONE GROUP INVESTMENT TRUST EQUITY INDEX PORTFOLIO
ONE GROUP INVESTMENT TRUST DIVERSIFIED EQUITY PORTFOLIO
ONE GROUP INVESTMENT TRUST MID CAP GROWTH PORTFOLIO
ONE GROUP INVESTMENT TRUST DIVERSIFIED MID CAP PORTFOLIO
ONE GROUP INVESTMENT TRUST MID CAP VALUE PORTFOLIO
A Special Meeting of Shareholders ("Special Meeting") of One Group
Investment Trust will be held on Monday, April 28, 1999 at 3:00 p.m. for the
following purpose:
1. To elect the Board of Trustees of One Group Investment Trust.
2. To ratify the selection of independent accountants.
3. To approve a change to a fundamental investment restriction by
eliminating language which prohibits One Group Investment
Trust Government Bond Portfolio, One Group Investment Trust
Balanced Portfolio, One Group Investment Trust Large Cap
Growth Portfolio, One Group Investment Trust Equity Index
Portfolio, and One Group Investment Trust Mid Cap Growth
Portfolio from participating on a joint or a joint and several
basis in any trading account in securities.
4. To transact such other business as may properly come before
the Special Meeting or any adjournment thereof.
Only shareholders of record at the close of business on February 28,
1999 are entitled to notice of, and to vote at, this Special Meeting or any
adjournment thereof. As of such date, Nationwide VA Separate Account-C (the
"Separate Account") was the primary shareholder of the Portfolios of One Group
Investment Trust. The Separate Account holds shares as underlying investment
options for variable annuity contracts. Nationwide will solicit instructions
from persons who were contract owners as of February 28, 1999. Accordingly,
contract owners who were not contract owners at the close of business on
February 28, 1999 will not be entitled to notice of, or to give voting
instructions for, this Special Meeting or any adjournment thereof. Shareholders
will be notified only if the amended investment objective is not approved.
Currently, One Group Investment Trust Government Bond Portfolio, One
Group Investment Trust Balanced Portfolio, One Group Investment Trust Large Cap
Growth Portfolio, One Group Investment Trust Equity Index Portfolio, and One
Group Investment Trust Mid Cap Growth Portfolio may not participate on a joint
or joint and several basis in any securities trading account. The proposed
change would allow these Portfolios to realize certain efficiencies and cost
savings, while earning a potentially higher rate of return on repurchase
agreements and other short-term, money market-type investments. Many securities
of this type are sold in denominations which are too large for the Portfolios to
purchase on an individual basis. Purchasing these securities on a joint basis
will
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expand the investment opportunities available to the Portfolios and may reduce
the possibility that cash balances remain uninvested. In addition, joint
transactions can be expected to result in certain administrative efficiencies by
reducing the number of trade tickets and cash wires that must be processed for
each trade. These efficiencies may result in reduced transaction costs.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT
WITH THE PROSPECTUS FOR FUTURE REFERENCE
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