UNITED GOLD & GOVERNMENT FUND INC
497, 1996-04-29
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United Gold & Government Fund, Inc.

Supplement to the Statement of Additional Information dated February 19, 1996.

Effective April 1, 1996, the monthly amount the Fund pays Waddell & Reed
Services Company for each Class A shareholder account which was in existence at
any time during the month was increased from $1.0208 to $1.3125.

To be attached to the front of page 30 of the SAI.

Supplement dated April 29, 1996



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