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SUPPLEMENT TO THE CURRENT PROSPECTUS OF LORD ABBETT MID-CAP VALUE FUND, INC. DATED May 1, 1998, AS SUPPLEMENTED ON February 24, 1999 <PAGE> Lord Abbett Mid-Cap Value Fund, Inc. Supplement dated February 24, 1999 to Prospectus dated May 1, 1998 Class P shares also are availabe for purchase in connection with a Mutual Fund Wrap-Free Program, as defined in the Fund's Prospectus.
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