CDC NVEST MASSACHUSETTS TAX FREE INCOME FUND

Supplement  dated August 22, 2003 to CDC Nvest Tax Free Income  Funds  Classes A
and B Prospectus dated May 1, 2003, as may be supplemented from time to time



The table below gives an  indication  of the risks of  investing  in the Fund by
showing changes in the Fund's  performance  from year to year and by showing how
the average  annual  total  returns for each class of the Fund (before and after
taxes for Class A) for the one-year,  five-year  and ten-year  periods (or since
inception if shorter)  compare to those of the Lehman  Brothers  Municipal  Bond
Index,  an unmanaged index of bonds issued by states,  municipalities  and other
government  entities having maturities of more than one year. You may not invest
directly in an index.  The Fund's  total  returns  reflect,  on a class by class
basis, its expenses and the maximum sales charge that you may be required to pay
when you buy or  redeem  the  Fund's  shares.  Class A  returns  have  also been
calculated to reflect return after taxes on  distributions  only and also return
after  taxes on  distributions  and sales of Fund  shares.  The Lehman  Brothers
Municipal  Bond Index  returns have not been  adjusted  for ongoing  management,
distribution and operating  expenses and sales charges applicable to mutual fund
investments.  The Fund's  past  performance  (before  and after  taxes) does not
necessarily indicate how the Fund will perform in the future.

WITHIN THE  SECTION  ENTITLED  "EVALUATING  THE FUND'S  PAST  PERFORMANCE",  THE
FOLLOWING  TEXT  REPLACES THE AVERAGE  ANNUAL TOTAL  RETURNS TABLE FOR CDC NVEST
MASSACHUSETTS TAX FREE INCOME FUND.


                                                                                                
- ----------------------------------------------------------------------------------------------------------------------
AVERAGE ANNUAL TOTAL RETURNS                                PAST 1 YEAR    PAST 5 YEARS  PAST 10 YEARS SINCE CLASS B
(for the periods ended December 31, 2002)                                                                INCEPTION
                                                                                                         (9/13/93)
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
Class A - Return Before Taxes                                  3.53%          3.27%          4.98%           -
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
     Return After Taxes on Distributions*                      3.53%          3.22%          4.88%           -
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
     Return After Taxes on Distributions & Sales of Fund       3.78%          3.50%          4.95%           -
     Shares*
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
Class B - Return Before Taxes                                  2.43%          3.16%            -           3.93%
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
Lehman Brothers Municipal Bond Index**                         9.60%          6.06%          6.71%         6.09%
- ----------------------------------------------------------------------------------------------------------------------


*After-tax  returns  are  calculated  using the  historical  highest  individual
federal  marginal  income tax rates and do not  reflect  the impact of state and
local taxes.  Actual after-tax returns depend on an investor's tax situation and
may  differ  from those  shown.  After-tax  returns  shown are not  relevant  to
investors who hold their Fund shares through tax-deferred arrangements,  such as
401(k) plans,  qualified plans,  education savings accounts such as 529 plans or
individual  retirement  accounts.  After-tax  returns are shown for only Class A
shares. After-tax returns for Class B shares of the Fund will vary.

**The  returns of the Index do not reflect  the effect of taxes.  The returns of
the Index  are  calculated  from  9/30/93  for  Class B  shares.  Class A shares
commenced operations 3/23/84.

For past expenses of Classes A and B shares, see the section entitled "Fund Fees
& Expenses."



                                                                      SP202-0803



                       CDC NVEST INTERNATIONAL EQUITY FUND

Supplement  dated August 22, 2003 to the CDC Nvest Equity Funds Classes A, B and
C and Class Y Prospectuses,  each dated May 1, 2003, each as may be supplemented
from time to time

Effective  October 1, 2003, CDC IXIS Asset Management  Distributors,  L.P. ("CDC
IXIS  Distributors"),  the distributor for CDC Nvest  International  Equity Fund
(the  "Fund"),  will no longer  accept new  investments  in the Fund.  Effective
November  1,  2003,  CDC IXIS  Distributors  will no  longer  accept  additional
investments  from  current   shareholders  of  the  Fund,  including  additional
investments through automatic or systematic investment plans.


On August 22,  2003,  the Board of Trustees of CDC Nvest Funds Trust I, upon the
recommendation of CDC IXIS Distributors,  approved a plan to liquidate the Fund.
The  liquidation  is  expected  to occur  on or about  November  14,  2003  (the
"Liquidation  Date"). Any shares of the Fund outstanding on the Liquidation Date
will be automatically redeemed on that date. The proceeds of any such redemption
will be the net asset value of such shares after charges, dividend distributions
required to eliminate any Fund-level taxes, expenses and liabilities of the Fund
have  been  paid or  otherwise  provided  for.  Any  applicable  sales  charges,
including contingent deferred sales charges, will be waived only for shares that
remain outstanding on the Liquidation Date and are redeemed  automatically or at
the election of the shareholder on the Liquidation  Date. For federal income tax
purposes,  the  automatic or elected  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.  Any gain 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  consider any
applicable  sales charge and should consult with his or her tax advisor for more
information on his or her own situation.

The  liquidation  process will involve  effecting  portfolio  transactions in an
orderly  manner with the intent that  shareholders  remaining in the Fund on the
liquidation date will not  unnecessarily  bear the majority of the trading costs
associated  with  the  liquidation.  This may  result  in the  Fund's  portfolio
consisting  primarily of cash or cash equivalents for several weeks prior to the
liquidation date.


At any time prior to the Liquidation Date,  shareholders may redeem their shares
of the Fund pursuant to the  procedures  set forth under "Fund  Services" in the
Fund's  Prospectuses.   Such  redemptions,   unlike  the  automatic  or  elected
redemptions on the  Liquidation  Date,  will be subject to any applicable  sales
charges, including contingent deferred sales charges.


Shareholders  may also exchange their shares for shares of the same class of any
other CDC Nvest Fund that  offers that class,  as  described  and subject to the
limitations   under  "Fund   Services  -   Exchanging   Shares"  in  the  Fund's
Prospectuses.  Such an exchange transaction will not result in any sales charge.
However,  exchanges of Fund shares up to and on the Liquidation Date, unlike the
automatic or elected  redemptions on the  Liquidation  Date, will continue to be
subject to any applicable  contingent  deferred sales charges,  if redeemed at a
future date.  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.


Absent an instruction to the contrary  prior to the  Liquidation  Date, for Fund
shares  held in  individual  retirement  accounts  ("IRAs") or SIMPLE  IRAs,  in
custodial  accounts  under a SEP,  SARSEP,  or 403(b) plan,  or in certain other
retirement accounts, CDC IXIS Distributors will exchange any shares remaining in
the Fund on the  Liquidation  Date into the CDC Nvest  Cash  Management  Trust -
Money Market Series.  These shares will continue to be subject to any applicable
contingent deferred sales charges.


                                                                      SP198-0803