SUPPLEMENT TO THE CURRENT Y SHARE PROSPECTUS OF LORD ABBETT BOND-DEBENTURE
FUND,INC., DATED November 30, 1998, AS SUPPLEMENTED ON February 24, 1999
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Lord Abbett Bond-Debenture Fund, Inc.
Supplement dated February 24, 1999 to
Prospectus - Y Shares dated November 30, 1998
Shares of the Funds also are available for purchase in connection with
a Mutual Fund Advisory Program. A Mutual Fund Advisory Program is an
arrangement between Lord Abbett Distributor and certain brokers, dealers,
investment advisers or other financial institutions (collectively, "sponsors")
under which (1) a Fund's shares are used by or in connection with investment
products sponsored by, or made available to clients of, the sponsors for a fee
or (2) the sponsors buy a Fund's shares on behalf of their clients in
connection with advisory, consulting or other services for which the sponsors
charge clients a fee.
