Statement of Additional Information Supplement May 1, 1998
IDS Bond Fund, Inc. S-6495-20 M (10/97)
IDS Discovery Fund, Inc. S-6457-20 N (9/97)
IDS Equity Select Fund, Inc. S-6426-20 K (1/98)
IDS Extra Income Fund, Inc. S-6370-20 M (7/97)
IDS Emerging Markets Fund S-6354 -20 D (12/97)
IDS Global Balanced Fund S-6352-20 C (12/97)
IDS Global Bond Fund S-6309-20 N (12/97)
IDS Global Growth Fund S-6334-20 M (12/97)
IDS Growth Fund S-6455-20 N (9/97)
IDS Research Opportunities Fund S-6356-20 C (9/97)
IDS International Fund, Inc. S-6140-20 P (12/97)
IDS Diversified Equity Income Fund S-6475-20 K (11/97)
IDS Mutual S-6326-20 N (11/97)
IDS Managed Allocation Fund S-6141-20 L (11/97)
IDS Blue Chip Advantage Fund S-6025-20 L (4/98)
IDS New Dimensions Fund, Inc. S-6440-20 M (9/97)
IDS Progressive Fund, Inc. S-6449-20 N (11/97)
IDS Selective Fund, Inc. S-6376-20 L (7/97)
IDS Stock Fund, Inc. S-6351-20 N (11/97)
IDS Utilities Income Fund, Inc. S-6341-20 N (8/97)
The following information has been added as an appendix to the above referenced
funds:
Investing in Foreign Securities
Investors should recognize that investing in foreign securities
involves certain special considerations, including those set forth below and
those described in the prospectus, which are not typically associated with
investing in United States securities. Foreign companies are not generally
subject to uniform accounting and auditing and financial reporting standards
comparable to those applicable to domestic companies. Additionally, many foreign
stock markets, while growing in volume of trading activity, have substantially
less volume than the New York Stock Exchange, and securities of some foreign
companies are less liquid and more volatile than securities of domestic
companies. Similarly, volume and liquidity in most foreign bond markets are less
than the volume and liquidity in the United States and at times, volatility of
price can be greater than in the United States. Further, foreign markets have
different clearance, settlement, registration and communication procedures and
in certain markets there have been times when settlements have been unable to
keep pace with the volume of securities transactions making it difficult to
conduct such transactions. Delays in such procedures could result in temporary
periods when assets of the Fund are uninvested and no return is
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earned thereon. The inability of the Fund to make intended security purchases
due to such problems could cause that Fund to miss attractive investment
opportunities. Payment for securities without delivery may be required in
certain foreign markets and, when participating in new issues, some foreign
countries require payment to be made in advance of issuance (at the time of
issuance, the market value of the security may be more or less than the purchase
price). Some foreign markets also have compulsory depositories (i.e., the fund
does not have a choice as to where the securities are held). Fixed commissions
on some foreign stock exchanges are generally higher than negotiated commissions
on U.S. exchanges, although the Fund will endeavor to achieve the most favorable
net results on their portfolio transactions. Further, a Fund may encounter
difficulties or be unable to pursue legal remedies and obtain judgments in
foreign courts. There is generally less government supervision and regulation of
business and industry practices, stock exchanges, brokers and listed companies
than in the United States. It may be more difficult for the Fund's agents to
keep currently informed about corporate actions such as stock dividends or other
matters which may affect the prices of portfolio securities. Communications
between the United States and foreign countries may be less reliable than within
the United States, thus increasing the risk of delays or loss of certificates
for portfolio securities. In addition, with respect to certain foreign
countries, there is the possibility of nationalization, expropriation, the
imposition of withholding or confiscatory taxes, political, social, or economic
instability, diplomatic developments which could affect United States
investments in those countries, or other unforeseen actions by regulatory bodies
(such as changes to settlement or custody procedures). Investments in foreign
securities may also entail certain risks, such as possible currency blockages or
transfer restrictions, and the difficulty of enforcing rights in other
countries.
Form S-6531 A (4/98)
Valid until next statement of additional information update.
Destroy April 30, 1999.
