<PAGE> 1
SUPPLEMENT DATED DECEMBER 12, 1997
TO PROSPECTUS DATED MAY 1, 1997
FOR MARKET STREET FUND, INC.
THE FOLLOWING IS TO REPLACE THE SECOND PARAGRAPH OF THE "INVESTMENT OBJECTIVES
AND POLICIES, THE BOND PORTFOLIO" SECTION, ON PAGE 12 OF YOUR PROSPECTUS.
The Portfolio purchases securities issued by U.S. and foreign
corporations and by U.S. and foreign governments and their agencies and
instrumentalities. Securities of foreign issuers are only purchased if they are
investment grade quality, denominated in U.S. dollars and income from such
securities is paid in U.S. dollars. Investment in securities of foreign issuers
entail certain risks not found in securities of domestic issuers. See "Foreign
Securities," and
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SUPPLEMENT DATED DECEMBER 12, 1997
TO PROSPECTUS DATED MAY 1, 1997
FOR MARKET STREET FUND, INC.
THE FOLLOWING IS TO REPLACE THE SECOND PARAGRAPH OF THE "INVESTMENT OBJECTIVES
AND POLICIES, THE BOND PORTFOLIO" SECTION, ON PAGE 14 OF YOUR PROSPECTUS.
The Portfolio purchases securities issued by U.S. and foreign
corporations and by U.S. and foreign governments and their agencies and
instrumentalities. Securities of foreign issuers are only purchased if they are
investment grade quality, denominated in U.S. dollars and income from such
securities is paid in U.S. dollars. Investment in securities of foreign issuers
entail certain risks not found in securities of domestic issuers. See "Foreign
Securities," and
THE FOLLOWING PARAGRAPH IS TO BE ADDED AT THE END OF THE "INVESTMENT OBJECTIVES
AND POLICIES, THE COMMON STOCK PORTFOLIO" SECTION, ON PAGE 15 OF YOUR
PROSPECTUS.
The planned reorganization resulting in the combination of the Common
Stock Portfolio and the Growth Portfolio of the Market Street Fund, Inc. (the
"Fund"), by transferring the assets and liabilities of the Common Stock
Portfolio to the Growth Portfolio and exchanging the shares of stock
representing interests in the Common Stock Portfolio for shares of stock
representing interests in the Growth Portfolio (the "Reorganization"), became
effective on December 12, 1997. The Reorganization was approved at a Special
Meeting of Shareholders of the Common Stock Portfolio held on December 5, 1997.
Since May 1, 1997, the Growth Portfolio has been managed by Sentinel Advisors
Company, which also managed the Common Stock Portfolio. Both Portfolios were
managed by the same portfolio management teams in essentially the same style.
