February 17, 1998
U.S. Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Attention: Division of Investment Management
Re: Greenspring Fund, Incorporated
File No. 811-3627
To Whom It May Concern:
Wilmington Trust Company ("WTC") is under contract with Greenspring
Fund, Incorporated (the "Fund") to serve as the Fund's Custodian. WTC has
assigned all of its right, title and interest in and under the agreement with
the Fund to PNC Bank. Enclosed is a sticker amending the Fund's current
Prospectus dated April 30, 1997.
Should you have any questions, please feel free to contact me at
410/823-5353. Thank you.
Sincerely,
/s/Elizabeth C. Agresta
Elizabeth C. Agresta
Administrator
Enclosure
<PAGE>
Greenspring Fund, Incorporated
Supplement to Prospectus
dated April 30, 1997
February 17, 1998
Effective February 17, 1998, PNC Bank, located at Airport
Business Center, 200 Stevens Drive, Suite 440, Lester, PA
19113, will be the Custodian for Greenspring Fund,
Incorporated.
