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LOOMIS SAYLES INVESTMENT TRUST
SUPPLEMENT DATED AUGUST 22, 2000 TO THE
LOOMIS SAYLES SMALL COMPANY PROSPECTUS
DATED FEBRUARY 1, 2000
1. The following replaces the last sentence in the fourth paragraph under
"Principal Investment Strategies" for the Loomis Sayles Small Company Value
Fund:
The Fund may engage in foreign currency hedging transactions and also may
invest in real estate investment trusts, Rule 144A securities, and, to the
extent permitted by the Investment Company Act of 1940, investment companies.
2. The following replaces the paragraph under "More Information About the
Funds' Investments and Risk Considerations -- Closed-end Investment Companies":
INVESTMENT COMPANIES
Investment companies, including each of the Funds as well as exchange traded
investment companies such as iShares, "SPIDERs" and "WEBS," are essentially
pools of securities. Since the value of an investment company is based on the
value of the individual securities it holds, the value of a Fund's investment in
an investment company will fall if the value of its underlying securities
declines. As a shareholder in an investment company, the Fund will bear its
ratable share of that company's expenses, including management fees, and will
remain subject to similar expenses of the Fund with respect to the assets so
invested. An investment in an investment company may be less liquid than a
direct investment in its underlying securities would be.
