WATERHOUSE INVESTORS FAMILY OF FUNDS INC, 497, 1999-09-13

WATERHOUSE INVESTORS FAMILY OF FUNDS INC
497, 1999-09-13

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                   WATERHOUSE INVESTORS FAMILY OF FUNDS, INC.


                   WATERHOUSE INVESTORS CASH MANAGEMENT FUNDS


                       Supplement dated September 8, 1999
         to Statement of Additional Information dated December 18, 1998


Effective September 8, 1999, National Investor Services Corp. ("NISC") replaced
Waterhouse National Bank as the transfer and dividend disbursing agent for the
Money Market Portfolio, the U.S. Government Portfolio and the Municipal
Portfolio. Previously, NISC served as each Portfolio's sub-transfer and dividend
disbursing agent.