FOUNDERS FUNDS, INC.
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED MAY 1, 1998
The section of the Funds' Statement of Additional Information entitled
"Directors and Officers" is hereby amended on page 40 to add the following
information concerning two new directors of Founders Funds, Inc. elected in May
1998:
ROBERT P. MASTROVITA**
88 Upland Road
Duxbury, Massachusetts
Director
Private investor; Chairman of private foundation. Formerly (1982 to
1997), Chairman and Director, Hagler, Mastrovita & Hewitt, Inc.,
Boston, Massachusetts, a registered investment adviser. Member,
Boston Society of Security Analysts. Overseer and Investment
Committee Member, Boston Children's Hospital. Born: November 6, 1944.
GEORGE W. PHILLIPS
101 Chestnut Street
Boston, Massachusetts
Director
Retired. Director and Chairman, Strategic Planning Committee, Warren
Bancorp, Inc., Peabody, Massachusetts, a state-chartered bank holding
company. Formerly (1991 to 1997), Mr. Phillips was President and
Chief Executive Officer of Warren Bancorp, Inc. and Warren Five Cents
Savings Bank. Trustee and Chairman of the Finance and Investment
Committees, Children's Medical Center of Boston, Boston,
Massachusetts. Born: April 5, 1938.
** Mr. Mastrovita served as a non-employee director of The Boston Company,
Inc. and Boston Safe Deposit and Trust Company until March 15, 1998. Since
both of these companies are indirect subsidiaries of Mellon Bank
Corporation, it is possible that, for a period of time, he might be
determined to be an interested director as defined in the Investment
Company Act of 1940.
The date of this Supplement is June 3, 1998.
