July 1, 1998
LEXINGTON STRATEGIC SILVER FUND, INC.
SUPPLEMENT TO PROSPECTUS DATED OCTOBER 28, 1997
Portfolio Managers
The Fund is managed by a portfolio management team. The senior members
of the portfolio management team consist of Robert M. DeMichele and James
A. Vail.
Robert M. DeMichele is part of a portfolio management team that manages
several Lexington Funds including the Lexington Natural Resources Trust.
Mr. DeMichele is Chairman and Chief Executive Officer of Lexington
Management Corporation. He is also the Chairman of the Investment Strategy
Group. In addition, he is President of Lexington Global Asset Managers,
Inc., LMC's parent company. He holds similar offices in other companies
owned by Lexington Global Asset Managers, Inc., as well as the Lexington
Funds. Prior to joining LMC in 1981, Mr. DeMichele was a Vice President at
A.G. Becker, Inc. the securities division of Warburg, Paribus, Becker, an
international investment banking firm. From 1973 to 1981, Mr. DeMichele
held several positions, the most recent managing A.G. Becker's Funds
Evaluation and Consulting Group for both the East and West coasts. Mr.
DeMichele is a graduate of Union College with a B.A. Degree in Economics
and an M.B.A. in Finance from Cornell University.
James A. Vail is a Vice President and is responsible for equity analysis
and portfolio management at Lexington. He is a Chartered Financial
Analyst, member of the New York Society of Security Analysts and has 24
years investment experience. His responsibilities include securities
analysis of the natural resources sector. Prior to joining Lexington in
1991, Mr. Vail held investment research positions with Chemical Bank,
Oppenheimer & Co., Robert Fleming Inc. and most recently Beacon Trust
Company where he was Senior Investment Analyst. Mr. Vail is a graduate of
St. Peter's College with a B.S. and holds an M.B.A. in Finance from Seton
Hall University.
