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CENTURA FUNDS, INC.
SUPPLEMENT DATED MAY 26, 2000
TO THE QUALITY BOND FUND PROSPECTUS DATED AUGUST 30, 1999
This Supplement is provided to update, and should be read in
conjunction with, the information provided in the Prospectus relating to the
Class C Shares of the Centura Quality Bond Fund.
Effective July 24, 2000, Sovereign Advisors will no longer serve as
Sub-Adviser to the Fund and the portfolio management of the Fund will be assumed
by the Adviser, Centura Bank, pursuant to the existing terms of the current
Investment Advisory Contract. Consequently, the advisory fee will remain the
same and the Adviser will no longer pay a sub-advisory fee to Sovereign
Advisors. The Fund's Board of Directors unanimously concurred with this change
in the Fund's management.
In connection with this change, the day-to-day management of the Fund's
portfolio will be the responsibility of C. Nathaniel Siewers, Sr. Portfolio
Manager and Terry Wall. No significant change in the Fund's investment strategy
is expected by the Adviser in connection with the change in portfolio managers.
Mr. Siewers' professional history and responsibilities are described in the
Prospectus. Mrs. Wall also serves as portfolio manager of the Centura Money
Market Fund. Mrs. Wall has over thirteen years experience in the trust
investment area of Centura Bank. She graduated from East Carolina University in
Greenville with a Bachelor of Science in Business Administration. Mrs. Wall
began her career with Centura Bank (then Planters Bank) in the trust investment
division in 1985. She is a Certified Public Accountant and a member of the North
Carolina Association of Certified Public Accountants and the American Institute
of Certified Public Accountants. Mrs. Wall's other duties include serving as
administrative liaison for the Investment Management Department, equity and
fixed income trading, and performance evaluation.
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