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Supplement dated August 21, 1998 to the May 1, 1998 Prospectuses for New
England Star Funds Class A, B and C (as supplemented July 15, 1998 and
August 3, 1998) and New England Stock Funds Class Y (as supplemented
August 3, 1998)
The following supplements the paragraph entitled "Founders" in the "Fund
Management" section of each Prospectus:
Effective August 21, 1998, the Founders large/mid-cap investment management
team, under the interim leadership of Paul LaRocco, has replaced Edward F. Keely
as portfolio manager of the Founders' segment of the Star Advisers Fund. Mr.
LaRocco, Vice President of Investments of Founders, is a Chartered Financial
Analyst and is also the interim leader of the team managing the Founders Growth
Fund. Mr. LaRocco has been serving as the lead portfolio manager for the
Founders Special Fund since March 1998 and as a portfolio manager for The
Dreyfus Corporation since April 1998. Prior to joining Founders in 1998, Mr.
LaRocco was a vice president and portfolio manager with Oppenheimer Funds.
