497 1 a2111035z497.txt 497 J.P. MORGAN MUTUAL FUND TRUST JPMorgan Prime Money Market Fund JPMorgan U.S. Government Money Market Fund JPMorgan Treasury Plus Money Market Fund JPMorgan Federal Money Market Fund JPMorgan 100% U.S. Treasury Securities Money Market Fund JPMorgan Tax Free Money Market Fund JPMorgan California Tax Free Money Market Fund JPMorgan New York Tax Free Money Market Fund JPMorgan Liquid Assets Money Market Fund SUPPLEMENT DATED MAY 13, 2003 TO THE STATEMENT OF ADDITIONAL INFORMATION DATED DECEMBER 27, 2002 Effective May 1, 2003, the following persons have been appointed to the Board of Trustees and the following information is hereby added to the TRUSTEES section:
NUMBER OF PORTFOLIOS NAME (DOB); POSITIONS PRINCIPAL OCCUPATIONS IN FUND COMPLEX(1) OTHER DIRECTORSHIPS HELD WITH THE TRUST, SINCE DURING PAST 5 YEARS OVERSEEN BY TRUSTEE OUTSIDE FUND COMPLEX --------------------- --------------------- --------------------- ------------------------- INDEPENDENT TRUSTEES Dr. Matthew Goldstein Chancellor of the City 78 Trustee of the Albert Einstein School (11/10/1941); University of New York of Medicine (1998-present); Trustee of Trustee of the Trust, (1999 - present); President, Bronx Lebanon Hospital Center (1992- since 2003. Adelphi University (New York) present); Director of New Plan Excel (1998-1999) Realty Trust, Inc (real estate investment company) (2000-present); Director of Lincoln Center Institute for the Arts in Education (1999- present); Director of Jewish Community Relations Counsel of New York, Inc (2000-present); Director of United Way of New York City (2002- present) William G. Morton, Jr. Formerly Chairman Emeritus 78 Director of Radio Shack Corporation (03/13/1937); (March 2001 - October 2002), (electronics) (1987-present); Director Trustee of the Trust, and Chairman and Chief of the Griswold Company (securities since 2003. Executive Officer, Boston brokerage) (2002-present); Director Stock Exchange (June 1985 - of The National Football Foundation March 2001) and College Hall of Fame (1994-present); Trustee of the Berklee College of Music (1998-present); Trustee of the Stratton Mountain School (2001-present)
In addition, the sentence below is hereby added to the beginning of the first paragraph following the description of Trustees in the TRUSTEES section: Each Trustee serves for an indefinite term, subject to the Trust's current retirement policy, which is age 73 for all Trustees, except Messrs. Reid and Eppley, for whom it is age 75. Furthermore, with regard to the new Trustees' beneficial ownership, as of December 31, 2002, the sentence below is hereby added under the TRUSTEES section: Matthew Goldstein and William G. Morton, Jr. do not own any shares of the Funds, as referred to above, or any shares of the funds that the Trustee oversees in the Family of Investment Companies (as defined in the Statement of Additional Information). Effective May 1, 2003, Michael Moran has resigned as an executive officer to the Funds and the following persons have been appointed as executive officers to the Funds. The following information is hereby added to the OFFICERS section: Wayne H. Chan (06/27/1965); Vice President and Assistant General Counsel, Vice President and Assistant Secretary J.P. Morgan Investment Management Inc. and (2003) J.P. Morgan Fleming Asset Management (USA) Inc., since September 2002; prior to joining J.P. Morgan Chase & Co., Mr. Chan was an associate at the law firm of Shearman & Sterling from May 2001 through September 2002; Swidler Berlin Shereff Friedman LLP from June 1999 through May 2001 and Whitman Breed Abbott & Morgan LLP from September 1997 through May 1999. Ryan M. Louvar (02/18/72); Counsel of Legal Services, BISYS Investment Services, Assistant Secretary (2003)*** since 2000; formerly an attorney at Hill, Farrer & Burrill LLP from 1999 to 2000 and Knapp Petersen & Clarke, PC from 1997 to 1999.
*** The contact address for the officer is 60 State Street, Suite 1300, Boston, MA 02109. In the CUSTODIAN section, the first paragraph on page 40 is hereby deleted in its entirety and replaced with the following: JPMorgan Chase Bank, serves as each Fund's custodian and fund accounting agent and is responsible for holding portfolio securities and cash and maintaining the books of account and records of portfolio transactions. JPMorgan Chase Bank, 4 Chase Metro Tech Center Brooklyn, NY 11245, is an affiliate of J.P. Morgan Fleming Asset Management (USA) Inc., adviser to the Funds. Prior to May 5, 2003, The Bank of New York served as the Funds' custodian. For fund accounting services, the Funds pay to JPMorgan Chase Bank the higher of a) each Fund's pro rata share of an annual complex-wide charge on the average daily net assets of all money market funds of 0.011% of the first $5 billion, 0.008% on the next $10 billion, 0.004% on the next $100 billion and 0.0025% for such assets over $100 billion, or b) the applicable per account minimum charge. The minimum total annual fund accounting charge per money market fund is $10,000. SUP-MMKTS-503