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LEXINGTON GLOBAL TECHNOLOGY FUND, INC.
Supplement dated March 7, 2000
To the Prospectus dated December 27, 1999
Lexington Global Asset Managers, Inc. ("LGAM"), the corporate parent of
Lexington Management Corporation ("LMC"), the investment adviser to each of the
Lexington Funds (the "Funds"), has entered into an agreement dated February 28,
2000 with ReliaStar Financial Corporation ("ReliaStar") for ReliaStar to acquire
LGAM.
Completion of the acquisition is subject to customary conditions, including
approval by LGAM shareholders and regulatory approvals. In addition, the
Directors/Trustees of each Lexington Fund will be asked to approve a new
investment advisory agreement with Pilgrim Investments, Inc., a subsidiary of
ReliaStar, which manages, markets and distributes open-end and closed-end
investment companies and structured finance products. If approved by the
Directors/Trustees of the Funds, shareholders of each Fund will be asked to
consider the new investment advisory agreements at a special meeting of
shareholders.
ReliaStar is a Minneapolis-based holding company whose subsidiaries offer
individuals and institutions life insurance and annuities, employee benefit
products and services, life and health reinsurance, retirement plans, mutual
funds, bank products and personal finance education.
