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MAS Funds
Revisions dated October 12, 1998
to the Small Cap Growth Portfolio Prospectus
dated June 29, 1998
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The date on the cover of the prospectus has been changed to:
June 29, 1998
As Revised October 12, 1998
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The following information replaces the last sentence in the section titled
"INVESTMENT ADVISER" on page 14 of the Prospectus:
As compensation for the services rendered by the Adviser under the
Agreement, the portfolio pays the Adviser an advisory fee calculated by
applying a quarterly rate based on an annualized fee of 1.00%.
