Davis New York Venture Fund, Inc.
Supplement Dated February 19, 1997
to the Prospectus
dated December 1, 1996
Paragraphs 3 and 4 in the "Adviser, Subadviser and Distributor" section on
page 9 are revised to read as follows:
Christopher C. Davis is the portfolio manager for the Fund and other
equity funds managed by the Adviser. He was co-portfolio manager of the
Fund, with Shelby M.C. Davis, from October 1, 1995 until February 19,
1997. Prior to his responsibilities as co-portfolio manager, Christopher C.
Davis worked closely with Shelby M.C. Davis as an assistant portfolio
manager and research analyst beginning in September, 1989.
Shelby M.C. Davis is Chief Investment Officer of the Adviser. As
Chief Investment Officer, he is active in providing investment themes,
strategies and individual stock selections to the Fund. He was the Fund's
primary portfolio manager from its inception in 1969 until February 19,
1997. He is a director and officer of all investment companies managed
by the Adviser and was the portfolio manager of a growth and income fund
managed by the Adviser from May 1, 1993 until February 19, 1997. He has
been a director of the Adviser's general partner Since 1969.
Section (vii) Sales at Net Assets Value on page 13 is revised to read as
follows:
(vii) Sales at Net Asset Value: The sales charge will not apply to:
(1) Class A shares purchased through the automatic reinvestment of
dividends and distributions (see "Dividends and Distributions"); (2) Class A
shares purchased by directors, officers and employees of any fund for
which the Adviser acts as investment adviser or officers and employees
of the Adviser or Distributor including former directors and officers and
any spouse, child, parent, grandparent, brother or sister ("immediate
family members") of all of the foregoing, and any employee benefit or
payroll deduction plan established by or for such persons; (3) Class A
shares purchased by any registered representatives, principals and
employees (and any immediate family member) of securities dealers
having a sales agreement with the Distributor; (4) initial purchases of
Class A shares totaling at least $250,000 but less than $5,000,000, made
at any one time by banks, trust companies and other financial institutions
on behalf of one or more clients for which such institution acts in a
fiduciary capacity; (5) initial purchases of Class A shares totaling
$250,000 or more by a registered investment adviser on behalf of a client
for which the adviser is authorized to make investment decisions or
otherwise acts in a fiduciary capacity; (6) Class A shares purchased by
any single account covering a minimum of 250 participants and
representing a defined benefit plan, defined contribution plan, cash or
deferred plan qualified under 401(a) or 401(k) of the Internal Revenue
Code or a plan established under section 403(b), 457 or 501(c)(9) of such
Code or "rabbi trusts"; (7) Class A shares purchased by persons
participating in a "wrap account" or similar fee-based program sponsored
and maintained by a registered broker-dealer approved by the Fund's
Distributor or by investment advisors or financial planners who place
trades for their own accounts or the accounts of their clients and who
charge a management, consulting or other fee for their services; and
clients of such investment advisors or financial planners who place trades
for their own accounts if the accounts are linked to the master account of
such investment advisor or financial planner on the books and records of
the broker or agent; and (8) Class A shares amounting to less than
$5,000,000 purchased by any state, county, city, department, authority or
similar agency. Investors may be charged a fee if they effect purchases in
fund shares through a broker or agent. The Fund may also issue Class A
shares at net asset value incident to a merger with or acquisition of
assets of an investment company.
