497 1 a2163476z497.txt 497 SUPPLEMENT DATED OCTOBER 3, 2005 TO THE PROSPECTUSES AND STATEMENTS OF ADDITIONAL INFORMATION (SAI) (CLASS A, B, C, P, Y & VC SHARES) ------------------------------------------------------------------------------- LORD ABBETT AFFILIATED FUND LORD ABBETT BLEND TRUST Lord Abbett Small-Cap Blend Fund LORD ABBETT BOND-DEBENTURE FUND LORD ABBETT DEVELOPING GROWTH FUND LORD ABBETT GLOBAL FUND Lord Abbett Global Equity Fund Lord Abbett Global Income Fund LORD ABBETT INVESTMENT TRUST Lord Abbett Balanced Strategy Fund Lord Abbett Convertible Fund Lord Abbett Core Fixed Income Fund Lord Abbett High Yield Fund Lord Abbett Income Strategy Fund Lord Abbett Limited Duration U.S. Government & Government Sponsored Enterprises Fund Lord Abbett Total Return Fund Lord Abbett U.S. Government & Government Sponsored Enterprises Fund Lord Abbett World Growth & Income Strategy Fund LORD ABBETT LARGE-CAP GROWTH FUND LORD ABBETT MID-CAP VALUE FUND LORD ABBETT MUNICIPAL INCOME FUND Lord Abbett California Tax-Free Fund Lord Abbett Connecticut Tax-Free Fund Lord Abbett Hawaii Tax-Free Fund Lord Abbett Minnesota Tax-Free Fund Lord Abbett Missouri Tax-Free Fund Lord Abbett National Tax-Free Fund Lord Abbett New Jersey Tax-Free Fund Lord Abbett New York Tax-Free Fund Lord Abbett Texas Tax-Free Fund Lord Abbett Washington Tax-Free Fund LORD ABBETT MUNICIPAL INCOME TRUST Lord Abbett Florida Tax-Free Trust Lord Abbett Georgia Tax-Free Trust Lord Abbett High Yield Municipal Bond Fund Lord Abbett Insured Intermediate Tax-Free Fund Lord Abbett Michigan Tax-Free Trust Lord Abbett Pennsylvania Tax-Free Trust LORD ABBETT RESEARCH FUND Lord Abbett America's Value Fund Lord Abbett Growth Opportunities Fund Lord Abbett Large-Cap Core Fund Lord Abbett Small-Cap Value Fund LORD ABBETT SECURITIES TRUST Lord Abbett All Value Fund Lord Abbett Alpha Strategy Fund Lord Abbett International Core Equity Fund Lord Abbett International Opportunities Fund Lord Abbett Large-Cap Value Fund Lord Abbett Micro-Cap Growth Fund Lord Abbett Micro-Cap Value Fund LORD ABBETT SERIES FUND All Value Portfolio America's Value Portfolio Bond-Debenture Portfolio Growth & Income Portfolio Growth Opportunities Portfolio International Portfolio Large-Cap Core Portfolio Mid-Cap Value Portfolio LORD ABBETT U.S. GOVERNMENT & GOVERNMENT SPONSORED ENTERPRISES MONEY MARKET FUND STATEMENTS OF ADDITIONAL INFORMATION -------------------------------------------------------------------------------- ALL FUNDS As of October 1, 2005, Robert G. Morris serves as the Chief Investment Officer of Lord, Abbett & Co. LLC. 1 PROSPECTUSES AND STATEMENTS OF ADDITIONAL INFORMATION -------------------------------------------------------------------------------- LORD ABBETT AFFILIATED FUND LORD ABBETT LARGE-CAP GROWTH FUND LORD ABBETT SECURITIES TRUST Lord Abbett Large-Cap Value Fund LORD ABBETT SERIES FUND All Value Portfolio Growth & Income Portfolio Robert G. Morris no longer serves as an investment manager of the Funds/Series listed above. As of October 1, 2005, Mr. Morris serves as the Chief Investment Officer of Lord, Abbett & Co. LLC. ------------------------------------------------------------------------------- LORD ABBETT INVESTMENT TRUST Lord Abbett Balanced Strategy Fund Lord Abbett Income Strategy Fund Lord Abbett World Growth & Income Strategy Fund LORD ABBETT SECURITIES TRUST Lord Abbett Alpha Strategy Fund Robert S. Dow, Managing Partner of Lord, Abbett & Co. LLC, no longer serves as a member of the Asset Allocation Committee of the Funds/Series listed above. As of October 1, 2005, Robert G. Morris serves as the Chief Investment Officer of Lord, Abbett & Co. LLC. -------------------------------------------------------------------------------- LORD ABBETT MUNICIPAL INCOME TRUST Lord Abbett High Yield Municipal Bond Fund The section in the Prospectus entitled "The Fund - Management - Investment Managers" is hereby revised to reflect that: Robert Dow, Managing Partner of Lord, Abbett & Co. LLC, is no longer responsible for overseeing and reviewing the team's investment strategies and implementation. -------------------------------------------------------------------------------- LORD ABBETT GLOBAL FUND Lord Abbett Global Equity Fund The following section replaces the section in the Prospectuses entitled "The Funds - Management - Investment Managers - Global Equity Fund": "Harold E. Sharon and Daniel H. Frascarelli head the investment management team and are primarily and jointly responsible for the day-to-day management of the Fund. Mr. Sharon, Director of International Core Equity, joined Lord Abbett in 2003. From 2001 to 2003, he worked as a consultant for various financial venture capital companies. Prior thereto, Mr. Sharon served as a Managing Director of Warburg Pincus Asset Management and Credit Suisse Asset Management. Mr. Frascarelli, Partner and Director of Large-Cap Core Equity, joined Lord Abbett in 1990 is a holder of a Chartered Financial Analyst designation and has been in the investment industry since 1983." -------------------------------------------------------------------------------- LORD ABBETT SECURITIES TRUST Lord Abbett All Value Fund The following paragraph replaces the section in the Prospectuses entitled "The Funds - Management - Investment Managers - All Value Fund": "Robert P. Fetch and Howard E. Hansen head the investment management team and are primarily and jointly responsible for the day-to-day management of the Fund. Mr. Fetch, Partner and Small-Cap Value Senior Investment Manager, joined Lord Abbett in 1995 and has been in the investment industry since 1977. Mr. Hansen, Partner and Investment Manager, joined Lord Abbett in 1995 and is a holder of a Chartered Financial Analyst designation." 2 -------------------------------------------------------------------------------- LORD ABBETT SECURITIES TRUST Lord Abbett International Opportunities Fund The following paragraph replaces the section in the Prospectuses entitled "The Funds - Management - Investment Managers - International Opportunities Fund": "Todd Jacobson heads the investment management team and is primarily responsible for the day-to-day management of the Fund. Mr. Jacobson joined Lord Abbett in 2003 from Warburg Pincus Asset Management and Credit Suisse Asset Management, where he served as a Portfolio Manager. Mr. Jacobson is a holder of a Chartered Financial Analyst designation and has been in the investment industry since 1988." -------------------------------------------------------------------------------- LORD ABBETT SECURITIES TRUST Lord Abbett International Core Equity Fund Todd Jacobson no longer serves as an Investment Manager of the Lord Abbett International Core Equity Fund. -------------------------------------------------------------------------------- LORD ABBETT SERIES FUND International Portfolio The following paragraph replaces the section in the Prospectus entitled "The Fund - Management - Investment Managers": "Todd Jacobson heads the investment management team and is primarily responsible for the day-to-day management of the Portfolio. Mr. Jacobson joined Lord Abbett in 2003 from Warburg Pincus Asset Management and Credit Suisse Asset Management, where he served as a Portfolio Manager. Mr. Jacobson is a holder of a Chartered Financial Analyst designation and has been in the investment industry since 1988." 3