THE WRIGHT MANAGED INCOME TRUST

                        Supplement to Combined Prospectus
                                       Of
                      Wright U.S. Government Near Term Fund
                          Wright Total Return Bond Fund
                           Wright Current Income Fund

                                Dated May 1, 2006

The Board of  Trustees  of The Wright  Managed  Income  Trust on October 6, 2006
approved an Agreement and Plan of Reorganization  pursuant to which shareholders
of the Wright U.S.  Government  Near Term Fund will become  shareholders  of the
Wright  Current  Income Fund,  a fund with a similar  investment  objective  and
policies,  on or about  December 8, 2006. The  reorganization  is expected to be
free of any tax consequences.

As of the date of this  Supplement,  new  accounts  will not be  accepted by the
Wright U.S.  Government Near Term Fund.  Existing  shareholders  may continue to
make investments in the Fund.  Contact the Principal  Underwriter or your broker
for the latest information.

October 6, 2006



                         THE WRIGHT MANAGED INCOME TRUST

           Supplement to Combined Statement of Additional Information
                                       Of
                      Wright U.S. Government Near Term Fund
                          Wright Total Return Bond Fund
                           Wright Current Income Fund

                                Dated May 1, 2006

The Board of  Trustees  of The Wright  Managed  Income  Trust on October 6, 2006
approved an Agreement and Plan of Reorganization  pursuant to which shareholders
of the Wright U.S.  Government  Near Term Fund will become  shareholders  of the
Wright  Current  Income Fund,  a fund with a similar  investment  objective  and
policies,  on or about  December 8, 2006. The  reorganization  is expected to be
free of any tax consequences.

As of the date of this  Supplement,  new  accounts  will not be  accepted by the
Wright U.S.  Government Near Term Fund.  Existing  shareholders  may continue to
make investments in the Fund.  Contact the Principal  Underwriter or your broker
for the latest information.

October 6, 2006