January 5, 1998
SUPPLEMENT TO THE PROSPECTUS OF
PIONEER SMALL COMPANY FUND
DATED FEBRUARY 28, 1997 (REVISED OCTOBER 10, 1997)
Effective January 5, 1998, Pioneer Small Company Fund (the "Fund") will
accept new accounts.
Prospective investors should be aware that management intends to close
the Fund to new accounts at the end of the 15th calendar day after the Fund has
received $150 million in new assets under management (the "Closing Date"). After
the Closing Date, and until further notice, new accounts will not be accepted by
the Fund. Exceptions may be permitted with regard to certain employer-sponsored
retirement plans and transfers of assets in connection with re-registration.
Shareholders of record as of the Closing Date may make additional investments to
an existing account.
0198-4767
[copyright symbol] Pioneer Funds Distributor, Inc.
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