Citi Funds Supplement Dated September 21, 2005

-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, N8lkgDJcv4Anhefh6AIX2OIHP12pG63APmLAw7/dcFm+fDk2KJrnkrO/WetToC34 facRNDPAN3W/2boHZaeXog== 0001193125-05-189429.txt : 20050922 0001193125-05-189429.hdr.sgml : 20050922 20050921214015 ACCESSION NUMBER: 0001193125-05-189429 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050922 DATE AS OF CHANGE: 20050921 EFFECTIVENESS DATE: 20050922 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CITIFUNDS TRUST I CENTRAL INDEX KEY: 0000744388 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-90518 FILM NUMBER: 051096982 BUSINESS ADDRESS: STREET 1: 125 BROAD ST 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10004 BUSINESS PHONE: 2122292554 FORMER COMPANY: FORMER CONFORMED NAME: LANDMARK FUNDS I DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: LANDMARK GROWTH & INCOME FUND DATE OF NAME CHANGE: 19900429 FORMER COMPANY: FORMER CONFORMED NAME: LANDMARKFUNDS MANAGED MUNICIPAL BOND TRUST DATE OF NAME CHANGE: 19860819 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CITIFUNDS TRUST III CENTRAL INDEX KEY: 0000747576 IRS NUMBER: 000000000 FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-91556 FILM NUMBER: 051096983 BUSINESS ADDRESS: STREET 1: CITIGROUP ASSET MANAGEMENT STREET 2: 125 BROAD STREET, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10004 BUSINESS PHONE: 800-625-4554 MAIL ADDRESS: STREET 1: CITIGROUP ASSET MANAGEMENT STREET 2: 125 BROAD STREET, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10004 FORMER COMPANY: FORMER CONFORMED NAME: LANDMARK CASH RESERVES DATE OF NAME CHANGE: 19910320 FORMER COMPANY: FORMER CONFORMED NAME: LANDMARK FUNDS CASH RESERVES INC DATE OF NAME CHANGE: 19861030 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CITIFUNDS PREMIUM TRST CENTRAL INDEX KEY: 0000850628 IRS NUMBER: 000000000 FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-28844 FILM NUMBER: 051096981 BUSINESS ADDRESS: STREET 1: CITIGROUP ASSET MANAGEMENT STREET 2: 125 BROAD STREET, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10004 BUSINESS PHONE: 800-625-4554 MAIL ADDRESS: STREET 1: CITIGROUP ASSET MANAGEMENT STREET 2: 125 BROAD STREET, 10TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10004 FORMER COMPANY: FORMER CONFORMED NAME: LANDMARK INSTITUTIONAL CASH RESERVES DATE OF NAME CHANGE: 19900102 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CITIFUNDS INSTITUTIONAL TRUST CENTRAL INDEX KEY: 0000889512 IRS NUMBER: 000000000 FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-49552 FILM NUMBER: 051096984 BUSINESS ADDRESS: STREET 1: CITIGROUP ASSET MANAGEMENT STREET 2: 125 BROAD STREET, 11TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10004 BUSINESS PHONE: 800-625-4554 MAIL ADDRESS: STREET 1: CITIGROUP ASSET MANAGEMENT STREET 2: 125 BROAD STREET, 11TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10004 497 1 d497.htm CITI FUNDS SUPPLEMENT DATED SEPTEMBER 21, 2005 Citi Funds Supplement Dated September 21, 2005

SUPPLEMENT DATED SEPTEMBER 21, 2005

TO THE

STATEMENTS OF ADDITIONAL INFORMATION OF THE

FUNDS INDICATED BELOW

The following information is included prior to the information included under the heading “Independent Registered Public Accountants and Financial Statements” in the Statement of Additional Information of Citi Premium Liquid Reserves and Citi Premium U.S. Treasury Reserves, under the heading “Independent Registered Public Accounting Firm and Financial Statements” in the Statements of Additional Information of Citi Institutional Liquid Reserves, Citi Institutional Cash Reserves, Citi Institutional U.S. Treasury Reserve, Citi Institutional Tax Free Reserves and each series of CitiFunds Trust I and CitiFunds Trust III listed below, and under the heading “Independent Auditors and Financial Statements” in the Statement of Additional Information of Citi Institutional Enhanced Income Fund, each as listed below:

Recent Developments

The Fund has received information from Citigroup Asset Management (“CAM”) concerning Smith Barney Fund Management LLC (“SBFM”) and Salomon Brothers Asset Management Inc (“SBAM”), investment advisory companies that are a part of CAM. The Fund receives investment advisory and administrative services from Citi Fund Management Inc., which is also a part of CAM. The information received from CAM is as follows:

On September 16, 2005, the staff of the Securities and Exchange Commission (the “Commission”) informed SBFM and SBAM that the staff is considering recommending that the Commission institute administrative proceedings against SBFM and SBAM for alleged violations of Section 19(a) and 34(b) of the Investment Company Act (and related Rule 19a-1). The notification is a result of an industry wide inspection by the Commission and is based upon alleged deficiencies in disclosures regarding dividends and distributions paid to shareholders of certain funds. In connection with the contemplated proceedings, the staff may seek a cease and desist order and/or monetary damages from SBFM or SBAM.

SBFM and SBAM are cooperating with the Commission. Although there can be no assurance, SBFM and SBAM believe that these matters are not likely to have a material adverse effect on the funds or their ability to perform their respective investment advisory services relating to the funds.

The Commission staff’s recent notification will not affect the sale by Citigroup Inc. of substantially all of CAM’s worldwide business to Legg Mason, Inc., which Citigroup continues to expect will occur in the fourth quarter of this year.


CITIFUNDS^SM PREMIUM TRUST		December 31, 2004
Citi^SM Premium Liquid Reserves
Citi^SM Premium U.S. Treasury Reserves

CITIFUNDS^SM INSTITUTIONAL TRUST
Citi^SM Institutional Liquid Reserves		December 31, 2004
Citi^SM Institutional Cash Reserves		December 31, 2004
Citi^SM Institutional U.S. Treasury Reserves		December 31, 2004
Citi^SM Institutional Tax Free Reserves		December 31, 2004
Citi^SM Institutional Enhanced Income Fund		March 1, 2005

CITIFUNDS^SM TRUST I		December 31, 2004
Citi^SM Institutional Money Reserves

CITIFUNDS^SM TRUST III		December 31, 2004
Citi^SM Cash Reserves
Citi^SM U.S. Treasury Reserves
Citi^SM Tax Free Reserves
Citi^SM California Tax Free Reserves
Citi^SM Connecticut Tax Free Reserves
Citi^SM New York Tax Free Reserves

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