MAP-GOVERNMENT FUND, INC.
520 Broad Street, Newark, NJ 07102-3111
1-800-559-5535
Supplement dated September 24, 1998
To Prospectus Dated May 1, 1998, as Supplemented August 6, 1998
This supplement should be read in conjunction with the prospectus
for the MAP-Government Fund, Inc. (the "Fund"), a copy of which
can be obtained without charge from First Priority Investment
Corporation ("First Priority"), 520 Broad Street, Newark, New
Jersey 07102, ATTN: MAP-GOVERNMENT FUND, INC., or by telephoning
1-800-559-5535.
MBL Life Assurance Corporation, ("MBL Life"), the ultimate parent
company of First Priority and sponsor of the Fund, together with
certain related entities (together, the "MBL Entities") are the
owners of approximately 96% of the outstanding shares of the Fund
as of September 16, 1998. As previously disclosed, the MBL
Entities will no longer retain their respective interests in the
Fund on or about December 31, 1998.
The Board of Directors of the Fund has voted to liquidate the
Fund and develop a plan of dissolution. Accordingly, the Board,
in anticipation of the dissolution, has agreed to discontinue
sales of the Fund to new and existing shareholders, with the
exception of MBL Entities, and shareholders of MAP-Equity Fund
("Equity") who maintain the right to exchange shares of Equity
for those of the Fund.
However, the Board has also voted to discontinue the Exchange
Privilege between the Fund and Equity, as described on pages 9-10
of the Fund's Prospectus. The discontinuance will be effective
60 days from the date of this Supplement.
The Accidental Death Benefit described on pages 14-15 of the
Fund's prospectus will be discontinued on December 31, 1998.