CAPITAL MANAGEMENT INVESTMENT TRUST
SUPPLEMENT Dated May 23, 2000
For the
Capital Management Mid-Cap Fund
and the
Capital Management Small-Cap Fund
The Special Meeting ("Meeting") of Shareholders of the Investor Shares of the
Capital Management Mid-Cap and Small-Cap Funds ("Funds"), 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") 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 June 29, 2000.
Investors Should Retain This Supplement for Future Reference
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