PBHG INSURANCE SERIES FUND, INC.
SUPPLEMENT DATED SEPTEMBER 26, 2000
To the Prospectus
This Supplement updates certain information contained in the Prospectus
dated May 1, 2000, as supplemented June 26, 2000. You should retain the
Prospectus for future reference. You may obtain an additional copy of the
Prospectus free of charge by calling 1-800-347-9256.
Effective September 26, 2000, Old Mutual, plc acquired United Asset
Management Corporation, the parent corporation of Pilgrim Baxter & Associates,
Ltd., the investment adviser for each Fund. As a result of the closing of such
transaction, the investment advisory and sub-advisory agreements in effect
immediately prior to such closing automatically terminated, and new interim
investment advisory and sub-advisory agreements with the Funds' existing service
providers became effective. There are no material differences between the
interim agreements and the former agreements. The interim agreements will remain
in effect pending Board of Director and shareholder approval of new investment
advisory and sub-advisory agreements.
