USAA USAA MUTUAL FUND, INC.
EAGLE Income Stock Fund
LOGO
SUPPLEMENT DATED AUGUST 28, 1998
TO THE PROSPECTUS
DATED DECEMBER 1, 1997
Page 9 of the Prospectus under the heading "Portfolio Manager" is amended to
reflect the following change.
Portfolio Manager
After 24 years of service with USAA Investment Management Company, Harry W.
Miller, the Fund's portfolio manager, is retiring. A search is presently under
way for a new portfolio manager for the Fund. In the interim, a team of
portfolio managers is responsible for the day-to-day management of the Fund's
portfolio. The members of the team include David G. Peebles, R. David Ullom,
and Stephan J. Klaffke, who collectively have 69 years investment management
experience and currently manage over $4 billion in assets. The team meets
regularly to review the portfolio holdings of the Fund and will make
adjustments when appropriate to keep the Fund in line with its investment
objective and policies.
David G. Peebles
David G. Peebles, Vice President of Equity Investments, has 32 years investment
management experience and has worked for us for 14 years. Mr. Peebles earned
the Chartered Financial Analyst (CFA) designation in 1971 and is a member of
the Association for Investment Management and Research (AIMR), the San Antonio
Financial Analysts Society, Inc. (SAFAS), and the International Society of
Financial Analysts (ISFA). He holds an MBA and a BS from Texas Christian
University.
R. David Ullom
R. David Ullom, Assistant Vice President of Equity Investments, has 23 years
investment management experience and has worked for us for 12 years. Mr. Ullom
earned the CFA designation in 1980 and is a member of AIMR and SAFAS. He holds
an MBA from Washington University, Missouri, and a BS from Oklahoma State
University.
Stephan J. Klaffke
Stephan J. Klaffke, Assistant Vice President of Insurance Company Portfolios,
has 14 years investment management experience and has worked for us for five
years. Mr. Klaffke earned the CFA designation in 1987 and is a member of AIMR
and SAFAS. He holds an MBA from Texas Christian University and a BS from
Indiana University.
32904-0898
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