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Rule 497(e)
File No. 811-3364
2-75503
MAXIM SERIES FUND, INC.
SUPPLEMENT TO PROSPECTUS DATED MAY 1, 1998
Maxim Blue Chip Portfolio
The description of Founders Asset Management, LLC, on page 50 is hereby amended
to state that Thomas M. Arrington, CFA, has been appointed as lead portfolio
manager for Maxim Blue Chip Portfolio, effective February 1, 1999. The third
paragraph under the heading "Founders Asset Management, LLC is deleted and
replaced with the following:
The day-to-day manager of the Maxim Blue Chip Portfolio is Thomas M. Arrington,
Vice President of Investments, Founders Asset Management, LLC. Mr. Arrington is
a Chartered Financial Analyst who has been lead portfolio manager for Founders
Blue Chip Fund since February 1999. Mr. Arrington joined Founders in December
1998 as co-lead portfolio manager for Founders Growth Fund. Prior to joining
Founders, he was a vice president and director of income equity strategy
(1994-1998), a vice president and director of income and growth strategy
(1993-1994), a securities research analyst (1991-1994), and a business
administration manager (1990-1991) for HighMark Capital Management, Inc., a
subsidiary of Union BanCal Corporation. A graduate of the University of
California, Los Angeles, Mr. Arrington received an MBA from San Francisco State
University.
The date of this supplement is
February 1, 1999.
