THE LUTHERAN BROTHERHOOD FAMILY OF FUNDS
Supplement to Prospectus Dated
May 15, 1998
Relating to Multiple Class Structure
Class A and B Shares
The board of trustees of The Lutheran Brotherhood Family of Funds (the
"Trust") has approved modifications to the multiple class structure of each
of its portfolio series (each, a "Fund") effective September 30, 1998, as
further described herein. Effective on that date, Lutheran Brotherhood
Securities Corp. ("LBSC") will begin offering its Allocation Advantage(sm)
mutual fund asset allocation program, which is a fee-based investment
advisory service available to persons who make an initial investment of
$100,000. Participants in the Allocation Advantage program will be eligible
to purchase Institutional Class shares of a Fund by making a minimum initial
purchase of $5,000 for non-IRA accounts and $1,000 for IRA accounts.
Additional purchases in a Fund may be made by Allocation Advantage clients
in the amount of $100. Existing shareholders of a Fund may participate in
the Allocation Advantage program by either purchasing Institutional Class
shares through the program or by exchanging some or all of their Class A or
Class B shares for Institutional Class shares on the basis of the relative
net asset values of the respective shares to be exchanged, subject to
minimum investment requirements. LBSC will charge participants in the
Allocation Advantage program a fee of $50.00 for any redemption of shares of
a mutual fund that have been held in the participant's account for less than
six months. However, if the redemption of shares is made through a
systematic withdrawal program, LBSC will charge the participant a fee of
$5.00 for each such redemption. In addition, LBSC will also charge a fee of
$15.00 for any redemption from a participant's account of shares of a mutual
fund that is not available through the Allocation Advantage program.
Effective on September 30, 1998, existing Class A or Class B shareholders of
a Fund that are Lutheran institutions or Lutheran church organizations
eligible to purchase Institutional Class shares (collectively "qualifying
Lutheran institutions") may exchange some or all of their Class A or Class B
shares for Institutional Class shares on the basis of the relative net asset
values of the respective shares to be exchanged, subject to a minimum
investment of $100,000 in each Fund. As of such date, Class A shares held
by qualifying Lutheran institutions will no longer be subject to automatic
conversion to Institutional Class shares.
Effective September 30, 1998, LifeMap(sm) Legend financial plan participants
are no longer eligible to purchase Class A shares of a Fund without paying a
sales charge.
September 29, 1998
PLEASE INCLUDE THIS SUPPLEMENT WITH YOUR PROSPECTUS
<PAGE>
THE LUTHERAN BROTHERHOOD FAMILY OF FUNDS
Supplement to Prospectus Dated
May 15, 1998
Relating to Multiple Class Structure
Institutional Class Shares
The board of trustees of The Lutheran Brotherhood Family of Funds (the
"Trust") has approved modifications to the multiple class structure of each
of its portfolio series (each, a "Fund") effective September 30, 1998, as
further described herein. Effective on that date, Lutheran Brotherhood
Securities Corp. ("LBSC") will begin offering its Allocation Advantage(sm)
mutual fund asset allocation program, which is a fee-based investment
advisory service available to persons who make an initial investment of
$100,000. Participants in the Allocation Advantage program will be eligible
to purchase Institutional Class shares of a Fund by making a minimum initial
purchase of $5,000 for non-IRA accounts and $1,000 for IRA accounts.
Additional purchases in a Fund may be made by Allocation Advantage clients
in the amount of $100. Existing shareholders of a Fund may participate in
the Allocation Advantage program by either purchasing Institutional Class
shares through the program or by exchanging some or all of their Class A or
Class B shares for Institutional Class shares on the basis of the relative
net asset values of the respective shares to be exchanged, subject to
minimum investment requirements. LBSC will charge participants in the
Allocation Advantage program a fee of $50.00 for any redemption of shares of
a mutual fund that have been held in the participant's account for less than
six months. However, if the redemption of shares is made through a
systematic withdrawal program, LBSC will charge the participant a fee of
$5.00 for each such redemption. In addition, LBSC will also charge a fee of
$15.00 for any redemption from a participant's account of shares of a mutual
fund that is not available through the Allocation Advantage program.
Effective on September 30, 1998, existing Class A or Class B shareholders of
a Fund that are Lutheran institutions or Lutheran church organizations
eligible to purchase Institutional Class shares (collectively "qualifying
Lutheran institutions") may exchange some or all of their Class A or Class B
shares for Institutional Class shares on the basis of the relative net asset
values of the respective shares to be exchanged, subject to a minimum
investment of $100,000 in each Fund. As of such date, Class A shares held
by qualifying Lutheran institutions will no longer be subject to automatic
conversion to Institutional Class shares.
September 29, 1998
PLEASE INCLUDE THIS SUPPLEMENT WITH YOUR PROSPECTUS
