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EXCELSIOR FUNDS, INC.
(the "Company")
INCOME AND GROWTH FUND
Supplement dated April 30, 1999
to Prospectus dated August 1, 1998
On April 8, 1999, the Board of Directors of the Company approved the
proposed reorganization of the Company's Income and Growth Fund into the
Company's Blended Equity Fund. The proposed reorganization will be submitted
to a vote of the shareholders of the Income and Growth Fund on or about June
30, 1999. If the reorganization is approved by shareholders, and certain other
conditions are satisfied, the assets and liabilities of the Income and Growth
Fund will be transferred to the Blended Equity Fund, and the shareholders of
the Income and Growth Fund will become shareholders of the Blended Equity
Fund. A combined proxy statement/prospectus will be mailed to the Income and
Growth Fund's shareholders in advance of the meeting. If the reorganization is
approved by shareholders, it is expected that the reorganization will occur in
or about mid-July 1999.
