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SBL FUND
MEMBER OF THE SECURITY BENEFIT GROUP OF COMPANIES
700 HARRISON, TOPEKA, KANSAS 66636-0001
SUPPLEMENT DATED SEPTEMBER 30, 1999
TO PROSPECTUS DATED JULY 23, 1999
THE REFERENCE TO "SIDNEY HOOTS" IN THE "PORTFOLIO MANAGERS" SECTION OF THE
PROSPECTUS IS DELETED IN ITS ENTIRETY AND REPLACED WITH THE FOLLOWING:
DEAN S. BARR, Managing Director and Head of Global Quantitative Index
Strategies, has been co-manager of Series H (Enhanced Index Series) since he
joined Bankers Trust in September 1999. Prior to joining Bankers Trust, he was
Chief Investment Officer of Active Quantitative Strategies at State Street
Global Advisors. He has a bachelor's degree from Cornell University and an MBA
in finance from New York University Graduate School of Business.
MANISH KESHIVE, Vice President of Bankers Trust, has been co-manager of Series H
(Enhanced Index Series) since September 1999. He joined Bankers Trust in 1996.
Prior to joining Bankers Trust, he was a student earning a B.S. degree in
Technology from the Indian Institute of Technology in 1993 and an M.S. degree
from the Massachusetts Institute of Technology in 1995.
