THE ALGER FUND
Supplement dated August 20, 1998 to the Prospectus dated February 25, 1998 as
supplemented May 18, 1998 and August 5, 1998.
Item 10 in the first paragraph of the section entitled "Waivers of Sales
Charges" on page 4 is amended to read as follows:
(10) of Class A shares purchased with the proceeds of a redemption of
shares of a mutual fund other than the Fund, if an initial or deferred
sales charge was paid in connection with the investment in the other fund
and the redemption from the other fund occurred within 90 days of the
purchase of Class A shares.
