THE WRIGHT MANAGED EQUITY TRUST
                         THE WRIGHT MANAGED INCOME TRUST

                        Supplement to Combined Prospectus

                                       of

                  Wright International Blue Chip Equities Fund
                           Wright Current Income Fund

                                dated May 1, 2003

As of the date of this Supplement, shares of the  Institutional  Share class of
Wright International Blue Chip Equities Fund and Wright Current Income Fund are
no longer  available for purchase. Contact the  Principal Underwriter or your
broker for the latest information.

June 19, 2003