UAM FUNDS
FPA CRESCENT PORTFOLIO
INSTITUTIONAL CLASS SHARES
INSTITUTIONAL SERVICE CLASS SHARES
Supplement dated August 6, 1997
to the Prospectus dated July 10,1997
The information under the heading "SHAREHOLDER SERVICES" is
supplemented as follows:
AUTOMATIC INVESTMENT PLAN
An Automatic Investment Plan permits shareholders of
the Portfolio with a minimum value of $2,500 or more to
purchase shares automatically (minimum of $100 per
transaction) at regular intervals selected by the
shareholder. Provided the shareholder's bank or other
financial institution allows automatic withdrawals,
shares are purchased by transferring funds via the
Automated Clearing House ("ACH"). Investments made
through ACH will be automatically transferred from a
shareholder's checking, bank money market or NOW account
designated by the shareholder. Such withdrawals are made
electronically, if the shareholder's bank or financial
institution so permits, or by pre-authorized checks or
drafts drawn on the shareholder's bank or other account.
The bank or financial institution must be a member of
ACH. At the shareholder's option, the account designated
will be debited in the specified amount, and shares will
be purchased monthly or quarterly.
To establish an Automatic Investment Plan, a
shareholder must complete the Optional Services Form
available from the UAM Funds Service Center at 1-800-638-
7983 and mail it to Chase Global Funds Services Company.
A shareholder may cancel his/her participation or change
the amount of purchase at any time by mailing written
notification to Chase Global Funds Services Company, P.O.
Box 2798, Boston, MA 02208-2798 and notification
generally will be effective three business days following
receipt. The Fund may modify or terminate this privilege
at any time, or may charge a service fee, although no
such fee currently is contemplated.
SYSTEMATIC WITHDRAWAL PLAN
Any shareholder whose account balance totals at
least $10,000 may establish a Systematic Withdrawal Plan
under which an amount pre-determined by the shareholder
(but at least $100) is automatically redeemed from the
shareholder's account either monthly or quarterly. A
shareholder may participate in the Systematic Withdrawal
Plan by using ACH. Redemptions made through ACH will be
automatically transferred to the shareholder's bank or
other similar financial institution account or a properly
designated third party. The bank or financial institution
must be a member of ACH. Redemptions ordinarily are made
on the third business day of the month and payments
ordinarily will be transmitted within five business days
after the redemption date. Because the prices of Fund
shares fluctuate, the number of shares redeemed to
finance systematic withdrawal payments of a given amount
will vary from payment to payment. If a shareholder owns
shares in more than one Portfolio, the shareholder must
designate the Portfolio from which the redemptions under
a Systematic Withdrawal Plan should be made. An
additional sheet may be attached to the Optional Services
Form if a shareholder selects more than one Portfolio. A
Systematic Withdrawal Plan may be terminated or suspended
at any time by the Fund. A shareholder may elect at any
time, in writing, to terminate participation in the
Systematic Withdrawal Plan. Such written election must be
sent to and received by the Fund before a termination
becomes effective. There is currently no charge to the
shareholder for a Systematic Withdrawal Plan.
