Statement of Additional Information Supplement
March 10, 2000
AXP SM Equity Select Fund S-6426-20 R (1/00)
The following revisions apply to the "Agreements" section under the
"Administrative Services Agreement" heading.
The information regarding the administrative services fee schedule has been
revised to state the following:
Assets Annual rate at
(billions) each asset level
- ---------- ----------------
First $1.0 0.050%
Next 1.0 0.045
Next 1.0 0.040
Next 3.0 0.035
Next 6.0 0.030
Next 12.0 0.025
Over 24.0 0.020
* Valid until next Statement of Additional Information update.
