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EXCELSIOR FUNDS, INC.
SHORT-TERM GOVERNMENT SECURITIES FUND
SUPPLEMENT TO PROSPECTUS DATED AUGUST 1, 1996
The section entitled "Management of the Funds--Investment Adviser" has been
amended as follows:
1. The following paragraph will replace the fourth paragraph:
The Short-Term Government Securities Fund's portfolio manager, G. Michael
O'Neil, III, is the person primarily responsible for the day-to-day
management of the Fund's investment portfolio. Mr. O'Neil, a Senior Vice
President and Manager of Money Market Investments at U.S. Trust, has been
with U.S. Trust since 1989 and has been the Fund's portfolio manager
since December 1996.
The date of this Supplement is January 17, 1997.
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EXCELSIOR FUNDS, INC.
PRODUCTIVITY ENHANCERS, COMMUNICATION AND ENTERTAINMENT AND EARLY LIFE CYCLE
FUNDS
SUPPLEMENT TO PROSPECTUS DATED AUGUST 1, 1996
The section entitled "Management of the Funds--Investment Adviser" has been
amended as follows:
1. The following paragraphs will replace the seventh paragraph:
The Productivity Enhancers Fund's portfolio co-manager, John J. Knox,
III, a Vice President at U.S. Trust, has been with U.S. Trust since June
1995 and has been the Fund's co-manager since January 1997. Prior to his
association with U.S. Trust, Mr. Knox was an investment manager with
Smith Barney and its predecessor firms from 1985 to 1995.
The Productivity Enhancers Fund's portfolio co-manager, Ronald A.
Fisher, a Vice President and Senior Analyst at U.S. Trust, has been with
U.S. Trust since December 1994 and has been the Fund's co-manager since
January 1997. Prior to his association with U.S. Trust, Mr. Fisher was
an analyst at Nippon Credit Trust Company from 1991 to 1994.
2. The following paragraph will replace the tenth paragraph:
The Communication and Entertainment Fund's portfolio manager, Michael E.
Hoover, is the person primarily responsible for the day-to-day
management of the Fund's investment portfolio. Mr. Hoover, a Vice
President and Senior Analyst at U.S. Trust, has been associated with
U.S. Trust since 1989 and has been the Fund's portfolio manager since
January 1997.
3. The following paragraphs will replace the thirteenth paragraph:
The Early Life Cycle Fund's portfolio co-manager is Jay B. Springer. Mr.
Springer, a Managing Director and Senior Portfolio Manager at U.S.
Trust, has been with U.S. Trust since June 1983 and has been the Fund's
portfolio manager since January 1997.
The Early Life Cycle Fund's portfolio co-manager is Diana L. Chaney. Ms.
Chaney, a Vice President at U.S. Trust, has been with U.S. Trust since
May 1995 and was previously with Smith Barney Investment Advisers where
she was Director of Money Management from 1987 to 1995.
The date of this Supplement is January 17, 1997.
