CAPITAL MANAGEMENT INVESTMENT TRUST
SUPPLEMENT
Dated July 12, 2000
CAPITAL MANAGEMENT MID-CAP FUND
The Special Meeting ("Meeting") of Shareholders of the Capital Management
Mid-Cap Fund ("Fund"), which was scheduled for April 27, 2000, has been
adjourned. The purpose of the Meeting was to approve an Amended and Restated
Plan of Distribution ("Plan") for the Investor Shares and the reimbursement of
Rule 12b-1 related expenses that have accrued during the time that the Plan was
not in effect. The Meeting shall reconvene on August 17, 2000.
Additionally, the Shareholders of the Fund will be asked to vote on the approval
of an Amended and Restated Investment Advisory Agreement that will replace the
former investment advisory agreement that lapsed on November 10, 1999.
Also, please note that the "Average Annual Total Returns" listed in the table on
page 4 of the Fund's Investor Shares Prospectus are for the year ended December
31, 1999, not 1998 as listed.
Investors Should Retain This Supplement for Future Reference
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