Dear Schwab Client:

As of Thursday September 13, 2001, SchwabFunds(R) Money Funds will
be open for Shareholder transactions and will continue to be
open for business each day that the Federal Reserve Bank of New
York (the "Fed") is open. This change to the Schwab Money Funds'
business days is designed to provide shareholders the ability to
access their cash investment while the New York Stock Exchange
("NYSE") remains closed. Typically, the Schwab Money Funds are
open for business only on days that both the Fed and the NYSE
are open. 

To perform a Schwab Money Funds transaction, please call
1-800-435-4000 or your Signature Services Team. You will not be
able to place transactions on the Schwab.com website or through
Telebroker(R). 

This action is subject to change. Charles Schwab Investment
Management, Inc., the Funds investment adviser, will continue to
monitor this situation closely and provide updates as necessary. 

Sincerely,
Jeremiah H. Chafkin
Chief Operating Officer
The Charles Schwab Family of Funds

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(c) 2001 Charles Schwab & Co., Inc. All Rights Reserved. 
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