<PAGE>
SUPPLEMENT TO THE
DODGE & COX BALANCED FUND
APRIL 29, 1997 PROSPECTUS
As of the close of business on February 13, 1998 (the "Effective Date"), Boston
Financial Data Services Inc. will become the Fund's transfer agent and State
Street Bank and Trust Company will become the Fund's custodian. On the
Effective Date, the following information will replace the corresponding
information found in the prospectus (PLEASE NOTE: the Fund's phone number,
-----------
1-800-621-3979, will not change):
All references to "FIRSTAR TRUST COMPANY" will read as "BOSTON FINANCIAL DATA
SERVICES INC." or "BFDS", as appropriate.
The "BY MAIL" section of "HOW TO PURCHASE SHARES" on page 7 will read as
follows:
REGULAR MAIL MAILGRAM, EXPRESS, CERTIFIED OR REGISTERED MAIL
Dodge & Cox Balanced Fund Dodge & Cox Balanced Fund
c/o BFDS c/o BFDS
P.O. Box 9051 66 Brooks Drive, Suite 1
Boston, MA 02205-9051 Braintree, MA 02184
The "BY WIRE" section of "HOW TO PURCHASE SHARES" beginning on page 7 will read
as follows:
State Street Bank and Trust Company, Boston, MA 02101
ABA #0110 0002 8
Deposit DDA #9905-351-4
FFC Dodge & Cox Balanced Fund
Account # 146/[shareholder account number], [name of account]
The "BY MAIL" section of "HOW TO REDEEM SHARES" on page 8 will read as follows:
REGULAR MAIL MAILGRAM, EXPRESS, CERTIFIED OR REGISTERED MAIL
Dodge & Cox Balanced Fund Dodge & Cox Balanced Fund
c/o BFDS c/o BFDS
P.O. Box 9051 66 Brooks Drive, Suite 1
Boston, MA 02205-9051 Braintree, MA 02184
The "CUSTODIAN AND TRANSFER AGENT" section on page 13 will read as follows:
State Street Bank and Trust Company, P.O. Box 9051, Boston,
Massachusetts 02205-9051, (1-800-621-3979), acts as custodian of
all cash and securities of the Fund and receives and disburses
cash and securities for the account of the Fund. BFDS acts as
transfer and dividend disbursing agent for the Fund.
The addresses listed on the BACK COVER will read as follows:
<TABLE>
<S> <C> <C>
TRANSFER AGENT CUSTODIAN DODGE & COX BALANCED FUND
Boston Financial Data Services Inc. State Street Bank and Trust Company c/o BFDS
P.O. Box 9051 P.O. Box 9051 P.O. Box 9051
Boston, Massachusetts 02205-9051 Boston, Massachusetts 02205-9051 Boston, Massachusetts 02205-9051
Telephone (800) 621-3979 Telephone (800) 621-3979 Telephone (800) 621-3979
</TABLE>
Supplement dated January 30, 1998
<PAGE>
SUPPLEMENT TO THE
DODGE & COX BALANCED FUND
DODGE & COX INCOME FUND
DODGE & COX STOCK FUND
APRIL 29, 1997 STATEMENT OF ADDITIONAL INFORMATION
As of the close of business on February 13, 1998 (the "Effective Date"), Boston
Financial Data Services Inc. will become the Funds' transfer agent and State
Street Bank and Trust Company will become the Funds' custodian. On the
Effective Date, the following information will replace the corresponding
information found in the statement of additional information (PLEASE NOTE: the
-----------
Funds' phone number, 1-800-621-3979, will not change):
All references to "FIRSTAR TRUST COMPANY" will read as "BOSTON FINANCIAL DATA
SERVICES INC." or "BFDS", as appropriate.
The address for the Dodge & Cox Funds on the cover will read as follows:
Dodge & Cox Balanced Fund
c/o BFDS
P.O. Box 9051
Boston, Massachusetts 02205-9051
Dodge & Cox Income Fund
c/o BFDS
P.O. Box 9051
Boston, Massachusetts 02205-9051
Dodge & Cox Stock Fund
c/o BFDS
P.O. Box 9051
Boston, Massachusetts 02205-9051
SUPPLEMENT DATED JANUARY 30, 1998
