PBHG INSURANCE SERIES FUND, INC.
SUPPLEMENT DATED DECEMBER 9, 1997 TO THE
PROSPECTUS DATED OCTOBER 3, 1997
This Supplement updates certain information contained in the above-dated
Prospectus. You should retain both this Supplement and the Prospectus for
future reference. You may obtain an additional copy of the Prospectus, free of
charge, by calling 1-800-433-0051.
Effective December 9, 1997, Gary D. Haubold, CFA, replaces James H. Farrell,
CFA, as Portfolio Manager of the PBHG Large Cap Value Portfolio. Information
concerning Mr. Haubold is presented in the Prospectus under the section
captioned "The Portfolio Managers."
The first sentence of the third paragraph under the section captioned "Large
Cap Growth Portfolio" is changed to read in its entirety as follows:
"The Portfolio reserves the right to invest up to 10% of its net assets in
restricted securities and securities of foreign issuers traded outside the
United States and Canada and, for hedging purposes only, to purchase and sell
options on stocks or stock indices."
The first sentence of the third paragraph under the section captioned "Select
20 Portfolio" is changed to read in its entirety as follows:
"The Portfolio reserves the right to invest up to 10% of its net assets in
restricted securities and securities of foreign issuers traded outside the
United States and Canada and, for hedging purposes only, to purchase and sell
options on stocks or stock indices."
