Rule 497(e)
                                                  File Nos. 2-99009 and 811-4354



                           RNC MUTUAL FUND GROUP, INC.

                   SUPPLEMENT DATED FEBRUARY 23, 1999, TO THE
                      PROSPECTUS FOR RNC MONEY MARKET FUND
                            (DATED JANUARY 31, 1999)

         RNC Capital  Management  LLC, the Adviser to RNC Money Market
         Fund, will limit total annual ordinary operating expenses for
         the Money  Market Fund to 0.70% of average  annual net assets
         through at least March 31, 2000.

         SHAREHOLDER  FEES (fees paid directly  from your  investment)
         Redemption Fee                                               0.00%

         ANNUAL FUND OPERATING EXPENSES (expenses that are deducted 
              from Fund Assets)
         Management Fee                                               0.41%
         Distribution / Service (12b-1) Fee                           0.25%
         Other Expenses                                               0.62%
                                                                      ---- 
         TOTAL ANNUAL FUND OPERATING EXPENSES                         1.28%
         Fee Waiver and / or Expense Reimbursement                    0.58%
                                                                      ---- 
         NET EXPENSES                                                 0.70%
                                                                      ==== 

                                EXAMPLE
         1 Year         3 Years        5 Years         10 Years
         $72            $348           $645            $1,489



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