CDC NVEST SHORT TERM BOND FUND

    Supplement dated December 27, 2002 to the CDC Nvest Income Funds Class Y
     Prospectus dated May 1, 2002, as may be supplemented from time to time

Effective  January 1, 2003, CDC IXIS Asset  Management  Distributors,  L.P., the
distributor  for Class Y shares of CDC Nvest Short Term Bond Fund (the  "Fund"),
will no longer accept new investments in Class Y shares of the Fund.

On November 22, 2002, the Board of Trustees of CDC Nvest Funds Trust II approved
a plan to liquidate Class Y shares of the Fund,  such  liquidation to take place
on a date to be  determined  by the Fund's  officers on or around  February 2003
(the  "Liquidation  Date").  Any Class Y shares of the Fund  outstanding  on the
Liquidation Date will be automatically redeemed on that date. For federal income
tax purposes, the automatic redemption on the Liquidation Date will generally be
treated like any other redemption of shares and may result in a gain or loss for
federal  income  tax  purposes.  Such  gain or loss  will  result  in  short- or
long-term  capital  gains for  shareholders  who hold their  shares as a capital
asset, depending on how long a shareholder has held his or her Fund shares. If a
shareholder  desires  to  recognize  any  taxable  gain  or  loss  prior  to the
Liquidation  Date, the shareholder may wish to redeem his or her shares prior to
the Liquidation Date.  Before doing so, the shareholder  should consult with his
or her tax advisor for more information on his or her own situation.

At any time up to and on the  Liquidation  Date,  shareholders  may redeem their
shares of the Fund pursuant to the procedures set forth under "Fund Services" in
the  Prospectus.  Shareholders  may also exchange their shares for shares of the
same class of any other CDC Nvest Fund that  offers  that  class,  as  described
under "Fund Services - Exchanging Shares" in the Prospectus.  For federal income
tax purposes, an exchange of Fund shares for shares of another CDC Nvest Fund is
generally  treated  as a sale  on  which a gain or  loss  may be  recognized.  A
shareholder  should consult with his or her tax adviser for more  information on
his or her own situation.

                                                                      SP178-1202