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FPA PARAMOUNT FUND, INC.
SUPPLEMENT DATED MARCH 31, 2000 TO PROSPECTUS DATED FEBRUARY 1, 2000
MANAGEMENT AND ORGANIZATION
The section entitled, PORTFOLIO MANAGER, is revised as follows:
Eric S. Ende, President and Director of the Fund and Senior Vice President of
the Adviser, and Steven R. Geist, Executive Vice President of the Fund and Vice
President of the Adviser, assumed primary responsibility for the day-to-day
management of the Fund's portfolio on March 31, 2000. Mr. Ende has served as
Vice President of the Fund and senior research analyst and portfolio manager of
the Adviser since 1985, and Mr. Geist has served as senior research analyst and
portfolio manager of the Adviser since 1992.
