SPECIAL PORTFOLIOS, INC.
Cash Portfolio
Supplement dated August 1, 1995 to page 5 of the
Prospectus dated March 1, 1995
Howard G. Hudson, Maroun M. Hayek, Robert C. Lindberg,
David C. Greenzang and Dennis M. Ott (since 1989)
manage the Cash Portfolio.
WHERE APPLICABLE, THE FOLLOWING INFORMATION IS ALSO
INCORPORATED INTO THE PROSPECTUS:
Mr. Hudson, an Executive Vice President of Fortis
Advisers, Inc. ("Advisers") and the head of Advisers'
fixed income department, has been managing debt
securities for Fortis, Inc. since 1991. Prior to that,
Mr. Hudson managed investments for several firms,
including 20 years with Morgan Guaranty Trust, where he
was the head of fixed income for the Trust and
Investment Division. Mr. Hudson reports to Gary N.
Yalen, the President and Chief Investment Officer of
Advisers. The other individuals identified herein,
with the exception of Messrs. Poling, Byrd and Thomson,
report directly or indirectly to Mr. Hudson. Mr.
Poling, an Executive Vice President of Advisers, will
report to Mr. Yalen until a head of Advisers' equity
department is named. Messrs. Byrd and Thomson, Vice
Presidents of Advisers, report to Mr. Poling. Mr.
Dudley, a Vice President of Advisers, will begin
managing debt securities for Advisers on August 14,
1995. Prior to joining Advisers, Mr. Dudley was a
Senior Vice President and Senior Portfolio Manager for
SunAmerica Asset Management, New York, NY. Mr.
Lindberg, a Vice President of Advisers, has been
managing debt securities for Advisers since 1993.
Prior to that, Mr. Lindberg was Vice President and
Chief Securities Trader for COMERICA, Inc., Detroit,
MI. Mr. Rickert, a Senior Credit Analyst for Advisers,
has been involved in management of debt securities for
Fortis, Inc. since 1994. Prior to that, Mr. Rickert
was a corporate bond analyst for Dillon, Read & Co.,
Inc. in New York, NY and before that Western Asset
Management in Los Angeles, CA. Mr. Hayek, a Vice
President of Advisers, has been managing debt
securities for Fortis, Inc. since 1987. Mr. Woods, a
Vice President of Advisers, has been managing debt
securities for Fortis, Inc. since 1993. Prior to that,
Mr. Woods was the head of fixed income for The Police
and Firemen's Disability and Pension Fund of Ohio in
Columbus, OH. Mr. Greenzang, an Assistant Portfolio
Manager for Advisers, has been involved in management
of debt securities for Fortis, Inc. since 1992. Prior
to that, Mr. Greenzang was an Associate with Dean
Witter Reynolds, Inc. in New York, NY. Messrs. Yalen,
Hudson, Dudley, Lindberg, Rickert, Hayek, Woods and
Greenzang are located at One Chase Manhattan Plaza, New
York, NY 10005 and Messrs. Poling, Byrd, Thomson and
Ott are located at 5500 Wayzata Blvd., Golden Valley,
MN 55416.
