<PAGE> 1
SUPPLEMENT TO THE PROSPECTUSES AND STATEMENT OF ADDITIONAL INFORMATION
WARBURG PINCUS TRUST -- EMERGING MARKETS PORTFOLIO
The following information supersedes certain information in the portfolio's
Prospectuses and Statement of Additional Information.
Richard W. Watt now serves as Portfolio Manager of this portfolio. Emily Alejos
and Robert B. Hrabchak join Jun Sung Kim and Federico D. Laffan as Associate
Portfolio Managers of this portfolio. Mr. Watt joined CSAM in 1995. Previously,
Mr. Watt was director and head of emerging markets investments and research with
Gartmore Investment Limited, London, from 1992 to 1995. Ms. Alejos joined CSAM
in 1997. Previously, Ms. Alejos was a vice president and emerging markets
portfolio manager with Bankers Trust Co., from 1993 to 1997. Mr. Hrabchak joined
CSAM in 1997. Previously, Mr. Hrabchak was a senior portfolio manager with
Merrill Lynch Asset Management, from 1995 to 1997 and an associate with Salomon
Brothers, Inc., from 1993 to 1995. Harold E. Sharon and Vincent J. McBride are
leaving their positions as Co-Portfolio Managers of the portfolio to devote more
time to other investment areas.
Dated: March 27, 2000 16-0300
for
TREMK
TREPX
TRIUS
<PAGE> 2
SUPPLEMENT TO THE PROSPECTUSES AND STATEMENTS OF ADDITIONAL INFORMATION
WARBURG PINCUS INSTITUTIONAL FUND -- VALUE PORTFOLIO
WARBURG PINCUS TRUST -- GROWTH & INCOME PORTFOLIO
The following information supersedes certain information in the funds'
Prospectuses and Statements of Additional Information.
Robert E. Rescoe joins Scott T. Lewis as Co-Portfolio Manager of these
portfolios. Mr. Rescoe has been with CSAM since 1999 as a result of Credit
Suisse's acquisition of Warburg Pincus. Mr. Rescoe joined Warburg Pincus in
1983. Stacy Dutton no longer serves as Co-Portfolio Manager of these portfolios.
Dated: March 27, 2000 16-0300
for
WPINU
TRGIP
TRGRI
