Statement of Additional Information Supplement* January 31, 2000
AXP Blue Chip Advantage Fund S-6025-20 M (4/99)
AXP Discovery Fund S-6457-20 T (9/99)
AXP Equity Value Fund S-6382-20 G (5/99)
AXP Global Balanced Fund S-6352-20 E (12/99)
AXP Growth Fund S-6455-20 R (9/99)
AXP New Dimensions Fund S-6440-20 P (9/99)
AXP Progressive Fund S-6449-20 R (11/99)
AXP Research Opportunities Fund S-6356-20 E (9/99)
AXP Small Company Index Fund S-6357-20 E (4/99)
AXP Stock Fund S-6351-20 R (11/99)
AXP Strategy Aggressive Fund S-6381-20 F (5/99)
In the agreement section, the discussion of the Investment Management Services
Agreement is modified to reflect the change in the Lipper index shown in the
following table.
As of January 1, 2000, Lipper, Inc. modified and expanded some of its indexes.
The following table illustrates the old name and the new name of the Lipper
indexes used as comparison for the Funds.
<TABLE>
<S> <C> <C>
- --------------------------------- ---------------------------- ---------------------------
Name of Fund Old Index New Index
AXP Blue Chip Advantage Fund Lipper Growth and Income Lipper Large-Cap Core
AXP Discovery Fund Lipper Small Company Growth Lipper Small-Cap Core
AXP Equity Value Fund Lipper Growth and Income Lipper Large-Cap Value
AXP Global Balanced Fund Lipper Global Lipper Global Flexible
AXP Growth Fund Lipper Growth Lipper Large-Cap Growth
AXP New Dimensions Fund Lipper Growth Lipper Large-Cap Growth
AXP Progressive Fund Lipper Capital Appreciation Lipper Mid-Cap Value
AXP Research Opportunities Fund Lipper Growth Lipper Large-Cap Core
AXP Small Company Index Fund Lipper Small Cap Fund Lipper Small-Cap Core
AXP Stock Fund Lipper Growth and Income Lipper Large-Cap Core
AXP Strategy Aggressive Fund Lipper Capital Appreciation Lipper Mid-Cap Growth
- --------------------------------- ---------------------------- ---------------------------
</TABLE>
S-6392 A (1/00)
*Destroy next update
