ALGER FUND
497, 1999-01-20
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                                 THE ALGER FUND


                       SUPPLEMENT DATED JANUARY 20, 1999
                   TO THE PROSPECTUS DATED FEBRUARY 25, 1998
                        AS SUPPLEMENTED ON MAY 18, 1998,
                        AUGUST 5, 1998, AUGUST 20, 1998
                             AND DECEMBER 21, 1998


     The  following  modifies  the  information   contained  in  the  Prospectus
Supplement of December 21, 1998:


          Certificates  will not be  available  for  Class A or Class C  shares.
     Certificates  for Class B shares are available only upon written request to
     the  Transfer  Agent.  Certificates  will not be available  for  fractional
     shares.



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