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The Internet Fund March 1, 1999
Supplement to the Prospectus
dated March 9, 1998
We are pleased to announce that The Internet Fund, Inc. (the "Fund") has a new
custodian, transfer agent, administrator, and fund accountant. Effective March
1, 1999, the new custodian is Firstar Bank Milwaukee, N.A. Also effective March
1, 1999, the new administrator and fund accountant is Firstar Mutual Fund
Services, LLC. Effective March 8, 1999 the new transfer agent will also be
Firstar Mutual Fund Services, LLC.
The prospectus is amended as follows:
In all places in the prospectus where it is specifies a custodian insert Firstar
Bank Milwaukee, N.A. In all places in the prospectus where it specifies an
administrator, fund accountant or transfer agent insert Firstar Mutual Fund
Services, LLC.
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The first paragraph under the caption "Transfer Agent" is replaced by the
following:
The Fund has entered into a transfer agent agreement with Firstar Mutual Fund
Services, LLC, 615 East Michigan Street, Milwaukee, Wisconsin 53202. Firstar
Mutual Fund Services, LLC also provides administrative and fund accounting
services for the Fund. Under the Administration Agreement, the Administrator
maintains the books, accounts and other documents required by the Investment
Act of 1940 (the "Act"), responds to shareholder inquiries, prepares the
Fund's financial statements and tax returns, prepares certain reports and
filings with the Securities and Exchange Commission and with state Blue Sky
authorities, furnishes statistical and research data, clerical, accounting
and bookkeeping services and stationary and office supplies, keeps and
maintains the Fund's financial and accounting records and generally assists
in all aspects of the Fund's operations. The Administrator, at its own
expense and without reimbursement from the Fund, furnishes office space and
all necessary office facilities, equipment and executive personnel for
performing the services required to be performed by it under the
Administrative Agreement.
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The first paragraph under the caption "Redemption and Repurchase of Shares" is
replaced by the following:
A shareholder may require the Fund to redeem his or her shares in whole or in
part at any time during normal business hours. Redemption requests may be
made in writing and directed to The Internet Fund, Inc., c/o Firstar Mutual
Fund Services, LLC, P.O. Box 701, Milwaukee, Wisconsin 53201 0701. Redemption
requests sent by overnight or express mail should be directed to The Internet
Fund, Inc., c/o Firstar Mutual Fund Services, LLC 3rd Floor, 615 East
Michigan Street, Milwaukee, Wisconsin 53202. DO NOT mail redemption requests
by overnight courier to the post office box address.
If a redemption request is inadvertently sent to the Fund at its corporate
address, it will be forwarded to Firstar Mutual Fund Services, LLC, and the
effective date or redemption will be delayed until Firstar Mutual Fund
Services, LLC receives the request. Requests for redemption which are subject
to any special conditions or which specify an effective date other than as
provided herein cannot be honored by the Fund.
Redemption requests should specify the name of the Fund, the number of shares
or dollar amount to be redeemed, shareholder's name, account number, and the
additional requirements listed below that apply to the particular account.
TYPE OF REGISTRATION REQUIREMENTS
Individual, Joint Tenants,
Sole Proprietor, Redemption request signed by the
Custodial (Uniform Gift to Minors Act), person(s) required to sign for
General Partners the account, exactly as it is
registered.
Corporations, Associations Redemption request and a
corporate resolution, signed by the
person(s) required to sign for the account,
accompanied by signature guarantee(s).
Trusts Redemption requests signed by the Trustee(s)
with a signature guarantee (If the Trustee's
name is not registered on the account, a
copy of the trust document certified within
the last 60 days is also required.)
Redemption requests from shareholders in an Individual Retirement Account
must include instructions regarding federal income tax withholding. Unless
otherwise indicated, these redemptions, as well as redemptions of other
retirement plans not involving a direct rollover to an eligible plan, will be
subject to federal income tax withholding. If a shareholder is not included
in any of the above registration categories (e.g., executors, administrators,
conservators or guardians), the shareholders should call the transfer agent,
Firstar Mutual Fund Services, LLC, at 1-888-386-3999 for further instructions
The redemption price is the net asset value next determined after receipt by
Firstar Mutual Fund Services, LLC in its capacity as transfer agent of the
written redemption request. The amount received will depend on the market
value of the investments in the Fund's portfolio at the time of determination
of net asset value and may be more or less than the cost of the shares
redeemed. A check in payment for shares redeemed will be mailed to the
shareholder no later than the seventh day after the receipt of the redemption
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The third paragraph under the caption "General Information" is replaced by the
following:
The Fund's securities are held by Firstar Bank Milwaukee, N.A.
Please retain this Supplement with your Prospectus for future reference.
