LEXINGTON STRATEGIC SILVER FUND INC
497, 1999-01-05
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                                                             January 5, 1999
                              
                              
                              
                     LEXINGTON STRATEGIC SILVER FUND, INC.
                              
                                 SUPPLEMENT TO 
              PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION 
                            DATED OCTOBER 28, 1998
                              
                              
                              
The Fund will no longer operate with a fiscal year ending on June 30.   The
Fund now operates with a fiscal year ending on December 31.  The Fund's most 
recent fiscal year-end was December 31, 1998.



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