SUPPLEMENT TO THE PROSPECTUS
Dated March 31, 1997
Mason Street Funds, Inc.
Fund Managers
Varun Mehta, Investment Officer - Public Fixed Income of
Northwestern Mutual Life, is the new manager for the Select Bond
Fund and the fixed income securities in the Asset Allocation
Fund. He joined Northwestern Mutual Life in March, 1997. From
1993 through March 1997, Mr. Mehta was with the Ameritech
Investment Management Department serving as Portfolio Manager -
Fixed Income and, previously, as Portfolio Research Manager -
Fixed Income. Mr. Mehta has his undergraduate degree from the
University of Bombay. He received a Masters degree in Business
Management from the Indian Institute of Management and an M.B.A.
from the University of Chicago Graduate School of Business. Mr.
Mehta is a Chartered Financial Analyst.
Gary R. Clemons, Senior Vice President, Portfolio
Management/Research of Templeton Investment Counsel, Inc., is the
new manager for the International Equity Fund, replacing Marc S.
Joseph. Mr. Clemons joined Templeton Investment Counsel in 1993.
Prior to joining Templeton Investment Counsel, Mr. Clemons worked
as a portfolio manager/research analyst for Templeton
Quantitative Advisers in New York, a subsidiary of Templeton
International. Mr. Clemons holds an M.B.A. with emphasis in
finance from the University of Wisconsin-Madison and a B.S.
degree from the University of Nevada-Reno.
The following are the two new managers for the Growth and Income
Stock Fund, replacing Lisa Waller Oram:
Henry D. Cavanna, Managing Director of J.P. Morgan Investment
Management Inc., joined J.P. Morgan in 1971. Mr. Cavanna is a
senior U.S. equity portfolio manager in the U.S. Equity and
Balanced Accounts Group. He received his B.A. degree from Boston
College and L.L.B. degree from the University of Pennsylvania.
Michael J. Kelly, Vice President of J.P. Morgan Investment
Management Inc., joined J.P. Morgan in 1985. Mr. Kelly is an
institutional portfolio manager with responsibility for several
employee benefit, foundation and endowment clients of J. P.
Morgan. Mr. Kelly has an undergraduate degree from Gettysburg
College and an M.B.A. from The Wharton School of the University
of Pennsylvania. Mr. Kelly is a Chartered Financial Analyst.
The date of this Prospectus Supplement is June 1, 1997.
HOL03 66579
