FIRST INVESTORS SPECIAL BOND FUND INC
497, 2000-01-10
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                     FIRST INVESTORS SPECIAL BOND FUND
                    SUPPLEMENT DATED JANUARY 10, 2000 TO
                    THE PROSPECTUS DATED APRIL 30, 1999


The  Prospectus is amended by deleting the second  paragraph of the section
captioned "Fund Management" on page 7 and replacing it with the following:

      As of January 1, 2000, Nancy W. Jones serves as Portfolio  Manager of
      the Fund. Ms. Jones manages certain other First Investors  Funds. Ms.
      Jones  joined FIMCO in 1983 as Director of Research in the High Yield
      Department.

SPBD0100




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