<PAGE>
[ LOGO ]
GE Institutional Funds
- -------------------------------------------------------------
Supplement Dated December 22, 1998
To Service Class Prospectus Dated July 31, 1998
The following restates the sixth paragraph under the heading "Portfolio
Management" on page 25 of the Prospectus:
Ralph E. Whitman is the Portfolio Manager of the Mid-Cap Growth Fund
effective December 1998. Mr. Whitman also serves as the Portfolio
Manager for GE Funds' GE Mid-Cap Growth Fund. Mr. Whitman has more
than 11 years of investment experience and has held positions with
GE Investments since 1987. Mr. Whitman is currently a Vice
President of GE Investments.
GEIN-PRS2-36
<PAGE>
[ LOGO ]
GE Institutional Funds
- -------------------------------------------------------------
Supplement Dated December 22, 1998
To Investment Class Prospectus Dated July 31, 1998
The following restates the sixth paragraph under the heading "Portfolio
Management" on page 27 of the Prospectus:
Ralph E. Whitman is the Portfolio Manager of the Mid-Cap Growth Fund
effective December 1998. Mr. Whitman also serves as the Portfolio
Manager for GE Funds' GE Mid-Cap Growth Fund. Mr. Whitman has more
than 11 years of investment experience and has held positions with GE
Investments since 1987. Mr. Whitman is currently a Vice President of
GE Investments.
GEIN-PRI2-36
