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Phoenix Strategic Allocation Fund, Inc.
Supplement dated June 26, 1998 to Prospectus dated May 1, 1998
Management of the Fund
The following replaces the paragraph under the heading "The Portfolio Manager"
located on page 12 of the prospectus.
Investment and trading decisions for the Fund are made by a team of equity
investment professionals and a team of fixed income investment
professionals.
Investors should retain this supplement with their prospectus for future
reference.
PDP 453M (6/98)
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