Rule 497(e)
File Nos. 811-3364
2-75503
MAXIM SERIES FUND, INC.
February 1, 2000 Supplement to
the May 1, 1999 Prospectus
The description of Loomis, Sayles & Company, L.P. on page ---- is hereby amended
to state that Joseph R. Gatz has been appointed as the lead portfolio manager
for the Maxim Loomis Sayles Small-Cap Value Portfolio, effective immediately.
The third paragraph under the heading "Loomis, Sayles & Company, L.P., is
deleted and replaced with the following:
Joseph R. Gatz is the lead manager of the Maxim Loomis Sayles Small-Cap Value
Portfolio. Dawn Alston Paige is the co-portfolio manager. Mr. Gatz joined Loomis
Sayles in November, 1999 from Banc One Investment Advisors Corporation where he
managed over $2 billion in mutual fund and institutional accounts. He was
employed by Banc One and certain of its corporate predecessors since 1993. Mr.
Gatz has fifteen years experience specializing in small cap value investing. Ms.
Paige has been associated with Loomis Sayles' small cap value product as an
analyst and co-portfolio manager for over seven years. They will be supported in
their management of the Portfolio by Dean Gulis who has extensive small cap
experience and ten years of experience as Director of Research at Roney &
Company.
