<PAGE> 1
VAN KAMPEN EXCHANGE FUND
SUPPLEMENT DATED APRIL 30, 1999, TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 23, 1999
In Statement of Additional Information (page B-9) under the section
captioned "Compensation Table," the second column entitled Aggregate
Compensation from the Registrant(2) is hereby amended and restated as follows:
COMPENSATION TABLE
<TABLE>
<CAPTION>
AGGREGATE
COMPENSATION
FROM THE
NAME(1) REGISTRANT(2)
------- -------------
<S> <C>
David C. Arch........................................... $1,973
Rod Dammeyer............................................ 1,973
Howard J Kerr........................................... 1,973
Steven Muller........................................... 1,973
Theodore A. Myers....................................... 1,973
Hugo F. Sonnenschein.................................... 1,973
Wayne W. Whalen......................................... 1,973
</TABLE>
--------------------------
