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WARBURG PINCUS TRUST
POST-VENTURE CAPITAL PORTFOLIO
SUPPLEMENT TO THE PROSPECTUSES AND STATEMENT OF ADDITIONAL INFORMATION
The following replaces certain information contained in the Prospectuses
and Statement of Additional Information of the Trust.
The Trust's Board of Trustees recently voted to amend the Portfolio's
principal strategy to allow the Portfolio to invest without limit in foreign
securities, removing an investment policy limiting the Portfolio's foreign
holdings to 20%. The Portfolio will now invest primarily in equity securities of
U.S. and foreign companies considered to be in their post-venture capital stage
of development. Also, the Portfolio will invest in at least three countries,
including the United States. The Portfolio's goal continues to be long-term
growth of capital.
The Portfolio's name will be changed to "Global Post-Venture Capital
Portfolio." These changes will be effective May 1, 2000.
Dated: November 1, 1999 16-1199
for
TREPX
TRGIP
TRIAP
TRIPS
TRIUS
TRPVC
