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VANGUARD FIXED INCOME SECURITIES FUND, INC.
PROSPECTUS SUPPLEMENT
MARCH 11, 1994
On February 25, 1994, Vanguard Fixed Income Securities Fund announced the
following portfolio manager changes to be completed prior to March 31, 1994: 1)
Paul D. Kaplan, 47, Senior Vice President of Wellington Management Company
("Wellington Management") and assistant portfolio manager of the GNMA Portfolio
of the Fund, will assume the duties of portfolio manager for the GNMA Portfolio.
Mr. Kaplan has been associated with Wellington Management for 16 years and also
currently manages the bond component of Vanguard Utilities Income Portfolio. 2)
Earl E. McEvoy, 45, Senior Vice President of Wellington Management, will assume
responsibility for the management of the Fund's Long-Term Corporate Portfolio.
Mr. McEvoy currently manages the Fund's High-Yield Corporate Portfolio as well
as Vanguard Preferred Stock Fund and the bond component of Vanguard/ Wellesley
Income Fund, Inc. Mr. McEvoy has also been associated with Wellington Management
for 16 years.
The investment objectives and policies of the Portfolios will remain
unchanged.
PS36
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March 10, 1994
Securities and Exchange Commission
450 5th Street, N.W.
Washington, D.C. 20549
Re: Vanguard Fixed Income Securities Fund, Inc. (the "Fund")
File No. 2-47371
Gentlemen:
Pursuant to Rule 497(e) under the Securities Act of 1933, we hereby file a
Prospectus Supplement dated March 11, 1994, on behalf of the above-referenced
investment company.
Very truly yours,
By: Curtis R. Hilliard
Assistant Vice President
and Associate Counsel
