TIFF INVESTMENT PROGRAM, INC.
                         SUPPLEMENT DATED JUNE 6, 2000
                     to the Prospectus dated April 28, 2000



THE PROSPECTUS IS CHANGED AS FOLLOWS:

The paragraph entitled "Asset Size" under the heading "Eligible Investors" on
page 14 is deleted and replaced with the following:

     ASSET SIZE.  The TIFF mutual funds are available only to  organizations
     meeting the eligibility  criteria set forth below. Because of the nature of
     certain  investments  made by the Multi-Asset  and Emerging  Markets Funds,
     shares of these funds are available  only to  organizations  that invest at
     least  $750,000  in TIP or whose  endowment  assets  exceed  $1.5  million.
     Organizations wishing to confirm their eligibility should contact FAI.