<PAGE>
Supplement to the Prospectus
These are speculative securities as defined by the Arizona Securities Division
Rule R14-4-118.
To be attached to front cover page of the prospectus of United New Concepts
Fund, Inc. Class A Shares dated July 18, 1995 distributed in the state of
Arizona.
This supplement is dated January 23, 1996
NUS1012AZ(1-96)
<PAGE>
This supplement is required by the Division of Securities of the State of
Missouri
The security offered hereby may be considered speculative due to the Fund's
intention to borrow money for investment in securities. In addition, if and to
the extent the Fund's investment activity results in a high rate of portfolio
turnover, it will incur correspondingly greater commission expenses and
transaction costs.
To be attached to the front cover page of the prospectus of United New Concepts
Fund, Inc. Class A shares dated July 18, 1995
This supplement is dated January 23, 1996
NUS1012MO(1-96)
