SUPPLEMENT TO THE CURRENT PROSPECTUSES OF LORD ABBETT AFFILIATED
FUND, INC.; LORD ABBETT DEVELOPING GROWTH FUND, INC.; LORD ABBETT
MID-CAP VALUE FUND, INC.; LORD ABBETT BOND-DEBENTURE FUND, INC.,
AND LORD ABBETT INVESTMENT TRUST-U.S. GOVERNMENT SECURITIES SERIES
(COLLECTIVELY, THE "FUNDS"; INDIVIDUALLY, A "FUND")
In accordance with each Fund's Class A Rule 12b-1 Plan, the Board of
Directors (Trustees) recently created a special retirement wrap program
("special program") under which authorized institutions will be eligible to
receive service and distribution fees. The annual service and distribution fees
under each Plan will not change. A special program shares one or more
characteristics distinguishing it, in the opinion of Lord Abbett Distributor,
from a regular mutual fund wrap fee program. Such characteristics include, among
other things, the fact that an authorized institution does not charge its
clients any fee of a consulting or advisory nature that is economically
equivalent to the distribution fee and the fact that the special program relates
to participant-directed Retirement Plans. Eligible authorized institutions will
receive such fees for new sales at net asset value of Class A shares under a
special program. No distribution fee will be paid for exchanges into a Fund from
another fund participating in the special program. There is no contingent
deferred sales charge for a Fund's redemptions which continue as investments in
another fund participating in the special program. See "Purchases", "Class A
Rule 12 b-1 Plan" ("Rule 12b-1 Plan") and "Class A Share Net Asset Value
Purchases" ("Net Asset Value Purchases") in the Prospectuses for further details
about each Fund's Class A Rule 12b-1 Plan and for the definitions of a mutual
fund wrap fee program and Retirement Plans.
Effective Date: January 28, 1997
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LORD ABBETT BOND DEBENTURE FUND, INC.
The prospectus contained in the post-effecive amendment Number 41 to the
registration statement on Form N-1A ('40 Act File No. 811-2145; '33 Act File No.
2-38910) is hereby incorporated by reference thereto.
