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    SUPPLEMENT TO THE PROSPECTUSES AND STATEMENTS OF ADDITIONAL INFORMATION

                              WARBURG PINCUS FUNDS

The following information supplements certain information in the funds'
Prospectuses and Statements of Additional Information.

Estimated year-end distribution information, including record and payment dates,
is available at www.warburg.com or by calling 800-WARBURG (800-927-2874).
Investors are encouraged to consider the potential tax consequences of
distributions prior to buying or selling shares of the funds.

Dated: November 22, 2000