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BISHOP STREET FUNDS
MONEY MARKET FUND
TREASURY MONEY MARKET FUND
SUPPLEMENT DATED AUGUST 31, 2000
TO PROSPECTUS DATED APRIL 30, 2000
The Supplement refers to the Money Market Fund and Treasury Money Market Fund
and provides new and additional information beyond that contained in the
Prospectus. The Supplement should be read in conjunction with the Prospectus.
The paragraph that discusses the calculating of the NAV for the money market
funds in the section entitled "GENERAL INFORMATION" of the Prospectus should be
removed and replaced with the following:
The Funds calculate each money market fund's NAV once each Business Day at 4:00
p.m., Eastern time. So for you to be eligible to receive dividends declared on
the day you submit your purchase order, the Funds generally must receive your
order and federal funds (readily available funds) before 4:00 p.m., Eastern
time.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.
