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SUPPLEMENT DATED OCTOBER 28, 1996
TO
STATEMENT OF ADDITIONAL INFORMATION
DATED FEBRUARY 1, 1996
OF
STRONG SCHAFER VALUE FUND, INC.
The following paragraph is inserted under "Purchase,
Redemption and Pricing of Shares" immediately after the fourth paragraph
thereof:
"The Fund, in its discretion, may permit an investor to
purchase shares of the Fund at net asset value in exchange for
securities held by the investor, provided that the Fund may acquire
such securities consistent with its investment policies. For purposes
of determining the number of Fund shares to be received in exchange
for any accepted securities, the Fund will value such securities in
the same manner as is used by the Fund to value its own assets."