USAA USAA MUTUAL FUND, INC.
EAGLE S&P 500 Index Fund
LOGO
SUPPLEMENT DATED JULY 21, 1999
TO THE PROSPECTUS
DATED MAY 1, 1999
The following language revises and supersedes the third paragraph under the
subheading "Bankers Trust Company" on pages 11 and 12:
Prior to June 4, 1999, Bankers Trust Company was a wholly owned subsidiary
of Bankers Trust Corporation. On June 4, 1999, Bankers Trust Corporation
merged 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 investment management, mutual funds, retail
and commercial banking, investment banking and insurance. Because Deutsche
Bank AG, as Bankers Trust's new parent company, controls its operations as
investment adviser, the Fund's shareholders will be asked to approve a new
investment advisory agreement. A Special Meeting of Shareholders will be
held for this purpose. Bankers Trust believes that, under this new
arrangement, the services provided to the Fund will be maintained at their
current level.
The "Portfolio Manager" section on page 12 is hereby omitted.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
34564-0799
