VANGUARD SPECIALIZED PORTFOLIOS INC
497, 2000-12-04
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                                     [SHIP]
                            [THE VANGUARD GROUP LOGO]

                           VANGUARD(R)HEALTH CARE FUND
                 SUPPLEMENT TO THE PROSPECTUS DATED MAY 31, 2000

DECEMBER 4, 2000
Effective immediately,  Vanguard Health Care Fund has raised its minimum initial
investment amount to $25,000 for all new accounts,  including IRAs and custodial
accounts for minors.







(C)2000 The Vanguard Group, Inc. All rights reserved.
Vanguard Marketing Corporation, Distributor.                        PS52N 122000



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