497 1 a2110850z497.txt 497 J.P. MORGAN FUNDS JPMorgan Fleming Emerging Markets Debt Fund J.P. MORGAN INSTITUTIONAL FUNDS JPMorgan Short Term Bond Fund JPMorgan Bond Fund JPMorgan Fleming International Value Fund JPMorgan Fleming Emerging Markets Equity Fund JPMorgan Fleming International Opportunities Fund JPMorgan Global Strategic Income Fund JPMorgan Tax Aware Short-Intermediate Income Fund J.P. MORGAN SERIES TRUST JPMorgan Enhanced Income Fund JPMorgan Global 50 Fund JPMorgan Global Healthcare Fund JPMorgan Tax Aware U.S. Equity Fund JPMorgan Tax Aware Disciplined Equity Fund JPMorgan California Bond Fund JPMorgan Market Neutral Fund JPMorgan Tax Aware Enhanced Income Fund JPMorgan Tax Aware Small Company Opportunities Fund J.P. MORGAN MUTUAL FUND GROUP JPMorgan Fleming European Fund JPMorgan Fleming International Growth Fund JPMorgan Fleming Japan Fund JPMorgan Short Term Bond Fund II JPMorgan Strategic Income Fund JPMorgan U.S. Treasury Income Fund JPMorgan Fleming Tax Aware International Opportunities Fund JPMorgan Fleming International Small Cap Equity Fund JPMorgan Fleming Asia Equity Fund J.P. MORGAN MUTUAL FUND SELECT GROUP JPMorgan Bond Fund II JPMorgan Tax Aware Large Cap Value Fund JPMorgan Tax Aware Large Cap Growth Fund JPMorgan Fleming International Equity Fund J.P. MORGAN MUTUAL FUND SELECT TRUST JPMorgan Intermediate Tax Free Income Fund JPMorgan New York Intermediate Tax Free Income Fund JPMorgan New Jersey Tax Free Income Fund JPMorgan Tax Free Income Fund J.P. MORGAN MUTUAL FUND SERIES JPMorgan Intrepid Value Fund JPMorgan Intrepid Investor Fund JPMorgan Intrepid Growth Fund JPMorgan Intrepid All Cap Fund MUTUAL FUND VARIABLE ANNUITY TRUST Asset Allocation Variable Annuity Portfolio Capital Growth Variable Annuity Portfolio Growth & Income Variable Annuity Portfolio International Equity Variable Annuity Portfolio Money Market Variable Annuity Portfolio U.S. Government Income Variable Annuity Portfolio SUPPLEMENT DATED MAY 9, 2003 TO THE STATEMENTS OF ADDITIONAL INFORMATION DATED DECEMBER 20, 2002, DECEMBER 27, 2002, FEBRUARY 28, 2003 AND MARCH 31, 2003 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:
NAME (DOB); PRINCIPAL NUMBER OF PORTFOLIOS POSITIONS WITH OCCUPATIONS DURING IN FUND COMPLEX(1) OTHER DIRECTORSHIPS HELD OUTSIDE THE TRUSTS, SINCE PAST 5 YEARS OVERSEEN BY TRUSTEE FUND COMPLEX ----------------- ------------ ------------------- ------------ INDEPENDENCE TRUSTEES Dr. Matthew Chancellor of the 78 Trustee of the Albert Einstein School of Goldstein City University of Medicine (1998-present); Trustee of (11/10/1941); New York, (1999- Bronx Lebanon Hospital Center (1992- Trustee of the present); President, present); Director of New Plan Excel Trusts, since Adelphi University Realty Trust, Inc (real estate investment 2003. (New York) (1998- company) (2000-present); Director of 1999) 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. Formerly Chairman 78 Director of Radio Shack Corporation Morton, Jr. Emeritus (2001 - (electronics) (1987-present); Director of (03/13/1937); 2002), and Chairman the Griswold Company (securities Trustee of the and Chief Executive brokerage) (2002-present); Director of Trusts, since Officer, Boston Stock The National Football Foundation and 2003. Exchange (1985 - College Hall of Fame (1994-present); 2001). 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 each 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, under the TRUSTEES section: Matthew Goldstein and William G. Morton, Jr. do not own any of the Funds, as referred to above, or any 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:
NAME (DOB); POSITIONS HELD PRINCIPAL OCCUPATIONS DURING PAST 5 YEARS WITH THE FUNDS (SINCE) Wayne H. Chan (06/27/1965); Vice President and Assistant General Counsel, J.P. Morgan Investment Vice President and Assistant Management Inc. and J.P. Morgan Fleming Asset Management (USA) Inc., since Secretary September 2002; prior to joining J.P. Morgan Chase & Co., Mr. Chan was an (2003) 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 (02/18/1972); Counsel of Legal Services, BISYS Investment Services since 2000; formerly Assistant Secretary (2003)*** 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. SUP-SAI-503