VANGUARD ASSET ALLOCATION FUND VANGUARD PREFERRED STOCK FUND
VANGUARD BALANCED INDEX FUND VANGUARD/PRIMECAP FUND
VANGUARD CONVERTIBLE SECURITIES FUND VANGUARD SPECIALIZED PORTFOLIOS
VANGUARD EQUITY INCOME FUND VANGUARD STAR FUND
VANGUARD GROWTH & INCOME PORTFOLIO VANGUARD/TRUSTEES' EQUITY FUND
VANGUARD HORIZON FUND VANGUARD/WELLESLEY INCOME FUND
VANGUARD INDEX TRUST VANGUARD/WELLINGTON FUND
VANGUARD INTERNATIONAL EQUITY INDEX FUND VANGUARD WINDSOR FUNDS
VANGUARD/MORGAN GROWTH FUND VANGUARD WORLD FUND
PROSPECTUS SUPPLEMENT
APRIL 13, 1998
You may purchase or redeem shares of the Fund or Portfolio through Charles
Schwab & Co., Inc. ("Schwab"). If you place your order through Schwab and it is
received before 3 p.m. Eastern time on any business day, your order will be sent
to Vanguard that day and your share price will be based on the Fund's or
Portfolio's net asset value calculated at the close of trading that day. If your
order is received after 3 p.m. Eastern time, it will be sent to Vanguard on the
following business day and your share price will be based on the Fund's or
Portfolio's net asset value calculated at the close of trading that day.
PSCSE
