GAMNA SERIES FUNDS, INC.
Supplement dated December 23, 1999 to the
Statement of Additional Information dated July 23, 1999
as Supplemented on August 12, 1999 and September 28, 1999
On page 9, the fifth full paragraph in the section "REDUCED SALES CHARGES"
should be changed to read as follows:
The Fund may sell Class A Shares without an
initial sales charge to (i) the Directors of the
Company (and their immediate families), (ii) GAMNA,
its affiliates and their directors and employees
(and their immediate families), (iii) the Fund's
Distributor and transfer agent or any affiliates or
subsidiaries thereof, registered representatives and
other employees (and their immediate families) of
broker-dealers having selected dealer agreements
with the Fund's Distributor, (iv) the Fund's counsel
and its employees (and their immediate families),
(v) employees (and their immediate families) of
financial institutions having selected dealer
agreements with the Fund's Distributor (or otherwise
having an arrangement with a broker-dealer or
financial institution with respect to sales of GAMNA
Focus Fund Shares), (vi) participants in "wrap-fee"
or asset allocation programs or other fee-based
arrangements sponsored by broker-dealers and other
financial institutions that have entered into
agreements with GAMNA, (vii) investment advisory
clients of GAMNA and their directors and employees
and (viii) financial institution trust departments
investing an aggregate of $1 million or more in
GAMNA Focus Fund.
On page 16, in the first sentence of the last paragraph of the subsection
"GAMNA" in the section "MANAGEMENT OF THE COMPANY AND THE FUND", the words "or
the Distributor" should be inserted after the first word, "GAMNA."
