STAR SELECT FUNDS
N-18F1, 1997-06-11
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

            NOTIFICATION OF ELECTION PURSUANT TO RULE 18f-1 UNDER THE
                         INVESTMENT COMPANY ACT OF 1940

                                Star Select Funds
                     --------------------------------------
                            Exact Name of Registrant

                            NOTIFICATION OF ELECTION

         The undersigned  registered open-end investment company hereby notifies
the Securities and Exchange Commission that it elects to commit itself to pay in
cash all  redemptions by a shareholder of record as provided by Rule 18f-1 under
the  Investment  Company Act of 1940.  It is  understood  that this  election is
irrevocable  while such Rule is in effect  unless the  Commission  by order upon
application permits the withdrawal of this Notification of Election.

                                    SIGNATURE

         Pursuant to the requirements of Rule 18f-1 under the Investment Company
Act of 1940, the registrant has caused this  notification of election to be duly
executed on its behalf in this city of Indianapolis  and the state of Indiana on
the 21st day of May, 1997.


                     Signature                  Star Select Funds
                                                -----------------
                                                (Name of Registrant)


                           By                   /s/ Timothy L. Ashburn
                                                ----------------------

                                                Timothy L. Ashburn
                                                President

Attest:   /s/ Carol J. Highsmith
          ----------------------
          Carol J. Highsmith
          Secretary


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