Statement of Additional Information Supplement
Key Mutual Funds
SBSF Fund
SBSF Convertible Securities Fund
SBSF Capital Growth Fund
Key Money Market Mutual Fund (the Money Market Fund)
Supplement Dated January 2, 1998
to the Statement of Additional Information Dated April 1, 1997
as previously supplemented
The Statement of Additional Information of the above Funds is supplemented by
replacing Item 9 on page eight with the following:
9. Purchase securities if such purchase would cause more than 25% of any of
the Funds total assets to be invested in the securities of issuers in any one
industry, provided however, that the Money Market Fund reserves the right to
concentrate in securities issued or fully guaranteed as to principal and
interest by the United States Government, its agencies or instrumentalities
or U.S. bank obligations. The Money Market Fund, however, will not exercise
its right to concentrate in U.S. bank obligations. The Money Market Fund
will further limit its allowable investments to obligations of the U.S.
Government and to obligations of the following agencies and instrumentalities:
Federal Home Loan Banks, The Federal Home Loan Bank Board, the Tennessee Valley
Authority, Federal National Mortgage Association, Government National
Mortgage Association, Federal Home Loan Mortgage Corporation, Student Loan
Marketing Association and the Federal Farm Credit Bank.
Please insert this Supplement in the front of your Statement of Additional
Information. Investors wishing to obtain more information should call the
Servicing Agent without charge at 800-KEY-FUND.
2KF-SAI-SUP4
