STOCKCAR STOCKS MUTUAL FUND INC
497, 2000-07-05
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                       CONSECO STOCKCAR STOCKS INDEX FUND

                              Advisor Class Shares

                         Supplement Dated July 5, 2000
                      to the Prospectus dated May 12, 2000
                            as revised June 1, 2000

Under the heading titled, "Contacting the Pit", the disclaimer language is
replaced as follows:

"NASCAR," the trademark of the National Association for Stock Car Racing, has
been licensed for use by Conseco, Inc. and its affiliates as NASCAR's official
financial services provider. NASCAR is a privately held company and as such, no
direct investment in NASCAR is being offered through this fund. The National
Association for Stock Car Racing does not sponsor, endorse, sell or promote the
Conseco StockCar Stocks Index Fund or the Conseco StockCar Stocks Index. Nor
does the National Association for Stock Car Racing make any representation
regarding the advisability of investing in the Conseco StockCar Stocks Index
Fund.

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                       CONSECO STOCKCAR STOCKS INDEX FUND

                              Direct Class Shares

                         Supplement Dated July 5, 2000
                      to the Prospectus dated May 12, 2000
                            as revised May 31, 2000

Under the heading titled, "Contacting the Pit", the disclaimer language is
replaced as follows:

"NASCAR," the trademark of the National Association for Stock Car Racing, has
been licensed for use by Conseco, Inc. and its affiliates as NASCAR's official
financial services provider. NASCAR is a privately held company and as such, no
direct investment in NASCAR is being offered through this fund. The National
Association for Stock Car Racing does not sponsor, endorse, sell or promote the
Conseco StockCar Stocks Index Fund or the Conseco StockCar Stocks Index. Nor
does the National Association for Stock Car Racing make any representation
regarding the advisability of investing in the Conseco StockCar Stocks Index
Fund.



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