AMIDEX FUNDS INC
497, 1999-11-04
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                               AMIDEX FUNDS, INC.
      SUPPLEMENT DATED NOVEMBER 3, 1999 TO PROSPECTUS DATED APRIL 27, 1999

                              AMIDEX 35 MUTUAL FUND
           LIMITED-TIME REDUCTION IN INITIAL MINIMUM INVESTMENT AMOUNT

The prospectus for the Amidex 35 Mutual Fund (the "Fund") is hereby supplemented
by adding the following:

From  November 1, 1999 until the close of business on  December  31,  1999,  the
minimum  initial  investment  in No-Load  Shares of the Fund has been lowered to
$2,500.


Under the  Section  of the  Prospectus  entitled,  "Fees and  Expenses",  Annual
Operating Expenses have been changed as follows:

ANNUAL FUND OPERATING EXPENSES:
- ------------------------------
(expenses that are deducted from Fund assets)
MANAGEMENT FEES                                      0.50%
DISTRIBUTION (12B-1) FEES (2)                        0.25%
OTHER EXPENSES                                       1.45%
                                                     -----
TOTAL ANNUAL FUND
OPERATING EXPENSES                                   2.20%

All Sections of the Prospectus not specifically amended as noted above remain in
full force and effect.



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