THE LUTHERAN BROTHERHOOD FAMILY OF FUNDS
Supplement to Prospectus Dated
December 30, 1998
Relating to Institutional Class Shares
Effective October 31, 1999, Institutional Class shares of Lutheran
Brotherhood Opportunity Growth Fund, Lutheran Brotherhood Mid Cap Growth
Fund, Lutheran Brotherhood World Growth Fund, Lutheran Brotherhood Fund,
Lutheran Brotherhood High Yield Fund, Lutheran Brotherhood Income Fund,
Lutheran Brotherhood Municipal Bond Fund, and Lutheran Brotherhood Money
Market Fund, each a "Fund" or a series of The Lutheran Brotherhood Family of
Funds, are subject to a shareholder servicing fee equal to an annual rate of
0.15% of the average daily net assets of the Institutional Class shares of
the Fund. Also effective on October 31, 1999, other expenses have been
reduced for Institutional Class shares of each Fund. The net effect of
these changes is that the "Other Expenses" line of "Annual Fund Operating
Expenses" will either decrease or remain the same for each Fund except
Lutheran Brotherhood Municipal Bond Fund. The "Annual Fund Operating
Expenses" for Lutheran Brotherhood Municipal Bond Fund likely will increase
by approximately 0.08%.
October 20, 1999
PLEASE INCLUDE THIS SUPPLEMENT WITH YOUR PROSPECTUS
