THE ALGER FUND
SUPPLEMENT DATED JULY 21, 1999 TO THE STATEMENT OF ADDITIONAL INFORMATION DATED
MARCH 1, 1999
The following supplements, and should be read immediately following the
first paragraph in the section of The Alger Fund's Statement of Additional
Information entitled "Waivers of Sales Charges":
In addition, no initial sales charge will be imposed on purchases of
Class A shares by members of a "qualified group". A qualified group is one
which: (i) has been in existence for more than six months; (ii) was not
organized for the purpose of buying shares of the Portfolios or making
similar investments; and (iii) satisfies uniform criteria established by
Alger Inc. that result in economy of sales effort or expense, such as a
criterion that purchases be made through a central administration or
through a single dealer. A qualified group does not include a group whose
sole organizational connection is participation as credit card holders of
a company, policyholders of an insurance company, customers of either a
bank or broker-dealer, clients of an investment adviser or a similar
connection. Shares purchased by members of a qualified group will be
subject to a CDSC of 1% if redeemed within one year of purchase.
