STRONG SCHAFER FUNDS INC
497, 2001-01-12
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            PLEASE FILE THIS PROSPECTUS SUPPLEMENT WITH YOUR RECORDS.


                          STRONG SCHAFER BALANCED FUND


               Supplement to the Prospectus dated February 1, 2000


Pursuant  to  the  Subadvisory  Agreement  (Agreement)  between  Strong  Capital
Management, Inc. (Strong) and Schafer Capital Management, Inc. (Schafer), Strong
notified  Schafer on January  10,  2001 that  Strong  intends to  terminate  the
Agreement.  As a result,  March 11,  2001 will be the last day  Schafer  Capital
Management, Inc. will serve as the subadvisor for the fund.

Mr. I. Charles  Rinaldi will become the  portfolio  manager of the fund on March
12, 2001.  Mr.  Rinaldi has over 25 years of  investment  experience.  He joined
Strong as a portfolio  manager in November 1997.  Prior to joining  Strong,  Mr.
Rinaldi was employed by Mutual of America Capital  Management  Corporation (MOA)
as a Vice  President  from  November  1989 to January  1994 and as a Senior Vice
President from January 1994 to November 1997.  While at MOA, Mr. Rinaldi managed
the  equity  portion  of a  balanced  fund and  managed  the  value  and  growth
portfolios of an aggressive  equity fund.  Prior to joining MOA, he was employed
by Glickenhaus & Co. Mr. Rinaldi  received his bachelors  degree in Biology from
St.  Michael's  College in 1965 and his  Masters of Business  Administration  in
Finance from Babson College in 1970.




           The date of this Prospectus Supplement is January 15, 2001.








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