<PAGE>
Rule 497 (e)
File No. 33-90888
TRANSAMERICA PREMIER FUNDS
ADVISER SHARES
Supplement Dated January 1, 1996
to Adviser Shares Prospectus Dated September 22, 1995
The following information supplements, and should be read in conjunction with,
the Prospectus to which this endorsement is attached.
The following information supplements the section titled "Fund Expenses."
As an additional subsidy for the Transamerica Premier Cash Reserve Fund only,
beginning on January 1, 1996 the Investment Adviser will waive the Adviser Fee
and the Administrator will assume any other operating expenses for the
Transamerica Premier Cash Reserve Fund, other than certain extraordinary or non-
recurring expenses, which together exceed 0.40% of the average daily net assets
for the Fund until the earlier of March 31, 1996 or such time as the Fund's
assets exceed $50 million.
The estimated operating expenses for the period from January 1, 1996 to March
31, 1996 for the Transamerica Premier Cash Reserve Fund are as follows:
TRANSAMERICA PREMIER CASH RESERVE FUND
ESTIMATED FUND OPERATING EXPENSES
FROM 1/1/96 TO 3/31/96
(as a percent of average net assets)
<TABLE>
<CAPTION>
ADVISER TOTAL OPERATING
FEE AFTER 12b-1 OTHER EXPENSES EXPENSES AFTER WAIVER
FUND WAIVER FEE AFTER REIMBURSEMENT AND REIMBURSEMENT
- ---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Premier Cash Reserve 0.00 % 0.25% 0.15% 0.40 %
- ---------------------------------------------------------------------------------------------
</TABLE>
The estimated annual operating expenses for the Transamerica Premier Cash
------
Reserve Fund, assuming the above figures until March 31, 1996 and the figures
currently in the Prospectus from April 1, 1996 to September 30, 1996 are as
follows:
TRANSAMERICA PREMIER CASH RESERVE FUND
ESTIMATED ANNUAL FUND OPERATING EXPENSES
(as a percent of average net assets)
<TABLE>
<CAPTION>
ADVISER TOTAL OPERATING
FEE AFTER 12b-1 OTHER EXPENSES EXPENSES AFTER WAIVER
FUND WAIVER FEE AFTER REIMBURSEMENT AND REIMBURSEMENT
- ---------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Premier Cash Reserve 0.17 % 0.25% 0.20% 0.62 %
- ---------------------------------------------------------------------------------------------
</TABLE>
For the estimated operating expenses for the Transamerica Premier Funds other
than the Transamerica Premier Cash Reserve Fund, see the section of the
Prospectus titled "Fund Expenses."
