AMERICAN AADVANTAGE MILEAGE FUNDS
Supplement dated October 11, 2000 to the Prospectus dated March 1, 2000
Under the section titled The Investment Advisers, the paragraph describing
Barrow, Hanley, Mewhinney & Strauss, Inc. is hereby changed to read as follows:
BARROW, HANLEY, MEWHINNEY & STRAUSS, INC. ("Barrow"), 3232 McKinney Avenue,
15th Floor, Dallas, Texas 75204, is a professional investment counseling firm
which has been providing investment advisory services since 1979. The firm is
wholly owned by United Asset Management Corporation, a Delaware corporation,
which is a wholly-owned subsidiary of Old Mutual plc, an international
financial services group. As of December 31, 1999, Barrow had discretionary
investment management authority with respect to approximately $29.1 billion of
assets, including approximately $1.3 billion of assets of AMR and its
subsidiaries and affiliated entities. Barrow serves as an investment adviser
to the Balanced, Large Cap Value, Intermediate Bond and Short-Term Bond Funds,
although the Manager does not presently intend to allocate any of the assets in
the Short-Term Bond Fund to Barrow.
