BUILDERS PROLOAN FUND, INC.
SUPPLEMENT TO THE PROSPECTUS
Dated April 30, 1998 as amended June 1, 1998
Supplement dated November 9, 1998
THE FOLLOWING SUPPLEMENTS "TOTAL RETURN" SECTION ON PAGE 3 OF THE PROSPECTUS.
The Fund may from time to time compare its performance to the Lehman Brothers
Mortgage-Backed Securities Index. The Lehman Brothers Mortgage-Backed Securities
Index is a broad market-weighted index of 15- and 30- year fixed-rate securities
backed by mortgage pools of the Government National Mortgage Association (GNMA),
Fannie Mae (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC), and FNMA
and FHLMC balloon mortgages with fixed-rate coupons.
Annualized Total Returns
(As of October 31, 1998)
One
Year Since
(10/31/97 to Inception
10/31/98) (10/31/97)
--------- ----------
Builders ProLoan Fund, Inc. 7.04% 7.04%
Lehman Brothers Mortgage-Backed Securities Index 7.30% 7.30%
THE SECTION "PRIOR PERFORMANCE OF CARPENTERS' DISTRICT COUNCIL PROLOAN PRIVATE
ACCOUNT." ON PAGE 3 OF THE PROSPECTUS IS DELETED IN ITS ENTIRETY.
Effective November 9, 1998, Unified Fund Services, Inc., 431 North Pennsylvania
Street, Indianapolis, IN 46204-1806, will serve as the Fund's Transfer Agent and
Shareholder Servicing Agent. SUPPLEMENT TO PAGE 10 OF PROSPECTUS.
THE FOLLOWING SUPPLEMENTS THE SECTION "PURCHASE, REDEMPTION AND VALUATION OF
FUND SHARES" ON PAGE 11 OF THE PROSPECTUS:
Your new transfer agent, Unified Fund Services Inc. will continue to service all
telephone inquiries and transactions with the new toll-free telephone number
1-877-923-5626. All additional investments, correspondence and redemption
requests should be sent to:
Builders ProLoan Fund, Inc. Builders ProLoan Fund, Inc.**
c/o Unified Fund Services, Inc. c/o Unified Fund Services, Inc.
P.O. Box 6110 or 431 North Pennsylvania Street
Indianapolis, IN 46206-6110 Indianapolis, IN 46204-1806
**For overnight deliveries**
If you are purchasing shares by wiring funds, please telephone Unified Fund
Services, Inc. at the toll free number 1-877-923-5626 and provide your bank with
the following:
WIRE INSTRUCTIONS:
UMB Bank, N.A.
ABA# 1010-0069-5
Credit to: 9800006823
FBO: Builders Proloan 740601000
Shareholder Name:
Shareholder A/C #
