HERITAGE EQUITY FUNDS
FEBRUARY 7, 2000
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED JANUARY 3, 2000
The following paragraph replaces the paragraph on page 20 under the
"Industry Classifications" section of the Statement of Additional Information:
For purposes of determining industry classifications,
each fund relies upon classifications contained in the DIRECTORY
OF COMPANIES FILING ANNUAL REPORTS WITH THE SECURITIES AND
EXCHANGE COMMISSION, except with respect to investments in
companies that produce or manufacture semiconductors.
Investments in those companies will be classified as one of the
following four industry groups: logic semiconductors
(semiconductors that perform a processing or controlling
function); analog semiconductors (semiconductors that manipulate
unprocessed data, such as movement, temperature and sound);
memory semiconductors (semiconductors that hold programs and
data); and communications semiconductors (semiconductors used
primarily in the transmission, amplification and switching of
voice, data and video signals).