SCHEDULE 14A
                        (Rule 14a-101)

           INFORMATION REQUIRED IN PROXY STATEMENT

                   SCHEDULE 14A INFORMATION
  Proxy Statement pursuant to Section 14(a) of the Securities
                      Exchange Act of 1934

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than the Registrant      [   ]

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[XXX] Soliciting Material Pursuant           Rule 14a-6(e)(2))
      to Rule 14a-11(c) or Rule 14a-12


                        Managers Trust I
                        ----------------
        (Name of Registrant as Specified in Its Charter)

           (Name of Person(s) Filing Proxy Statement,
                  if other than the Registrant)


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MANAGERS TRUST I
              MANAGERS U.S. STOCK MARKET PLUS FUND

                 Supplement dated March 18, 2003
     to the Prospectus and Statement of Additional Information
                      dated August 1, 2002


The following information supersedes any information to the
contrary relating to Managers U.S. Stock Market Plus Fund (the
"Fund") contained in the Fund's Prospectus and Statement of
Additional Information dated August 1, 2002:

At a meeting held on March 14, 2003, the Fund's Board of
Trustees approved the reorganization of the Fund with First
Quadrant Tax-Managed Equity Fund ("FQ Fund"), a series of
Managers AMG Funds.  Consummation of the reorganization is
contingent upon approval by the Fund's shareholders of
proposals (the "Proposals") that would replace the Fund's
current investment objectives, policies and advisory
arrangements with investment objectives, policies and advisory
arrangements substantially the same as those of FQ Fund.  If
Fund shareholders approve the Proposals, the surviving fund,
following the reorganization, will operate under investment
objectives, policies and advisory arrangements substantially
the same as those currently in place for FQ Fund.

The Fund will provide a definitive proxy statement to
shareholders prior to a special meeting of the Fund to
consider the Proposals.  Shareholders are urged to read the
definitive proxy statement when it becomes available.  It will
contain important information regarding the Proposals.

In light of the proposed reorganization, effective
immediately, the Fund will no longer accept investments to
open new shareholder accounts.  Shareholders may, however,
continue to purchase and redeem shares in existing accounts.


March 18, 2003

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