PBHG FUNDS INC /
497, 1998-10-21
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                              THE PBHG FUNDS, INC.

                                   SUPPLEMENT
                             DATED OCTOBER 20, 1998
                                     TO THE
                         PROSPECTUS DATED JUNE 1, 1998

                               PBHG Class Shares




     This Supplement updates certain information contained in the above dated
Prospectus of The PBHG Funds, Inc. You should retain both this Supplement and
the Prospectus for future reference. You may obtain an additional copy of the
Prospectus, free of charge, by calling 1-800-347-9256.

     Effective immediately James D. McCall, CFA manages the PBHG Core Growth
Fund. A discussion of Mr. McCall's prior business experience begins on page 35
of the Prospectus.




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