USAA USAA MUTUAL FUND, INC.
EAGLE S&P 500 Index Fund
LOGO
SUPPLEMENT DATED MARCH 17, 1999
TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED MAY 1, 1998
Under the heading "Administrator," the following language has been inserted
after the second paragraph on page 18 of the Statement of Additional
Information.
Bankers Trust is a wholly owned subsidiary of Bankers Trust
Corporation. Bankers Trust Corporation has entered into an Agreement and Plan
of Merger with Deutsche Bank AG under which Bankers Trust Corporation would
merge with and into a subsidiary of Deutsche Bank AG. Deutsche Bank AG is a
major global banking institution that is engaged in a wide range of financial
services, including retail and commercial banking, investment banking, and
insurance. The transaction is contingent upon various regulatory approvals, as
well as the approval of the Portfolio's shareholders. If the transaction is
approved and completed, Deutsche Bank AG, as Bankers Trust's new parent
company, will control the operations of Bankers Trust. Bankers Trust believes
that, under this new arrangement, the services provided to the Fund and the
Portfolio will be maintained at their current level.
33944-0399
