[Logo of USAA MUTUAL FUND, INC.
USAA Eagle Aggressive Growth Fund
appears here] Growth Fund
Growth & Income Fund
Income Stock Fund
Income Fund
Short-Term Bond Fund
Money Market Fund
SUPPLEMENT DATED JANUARY 2, 1997
TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED DECEMBER 1, 1996
TAX-DEFERRED RETIREMENT PLANS on page 5 of the Statement of Additional
Information is amended to reflect that USAA Federal Savings Bank replaced
State Street Bank as Custodian for the tax-deferred retirement plans under the
programs made available by USAA Investment Management Company.
29464-0197
[Logo of USAA MUTUAL FUND, INC.
USAA Eagle S&P 500 Index Fund
appears here]
SUPPLEMENT DATED JANUARY 2, 1997
TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED SEPTEMBER 16, 1996
TAX-DEFERRED RETIREMENT PLANS on page 4 of the Statement of Additional
Information is amended to reflect that USAA Federal Savings Bank replaced
State Street Bank as Custodian for the tax-deferred retirement plans under the
programs made available by USAA Investment Management Company.
29465-0197
