PLEASE FILE THIS PROSPECTUS SUPPLEMENT WITH YOUR RECORDS.
STRONG CORPORATE BOND FUND
STRONG GOVERNMENT SECURITIES FUND
STRONG HIGH-YIELD BOND FUND
STRONG SHORT-TERM BOND FUND
STRONG SHORT-TERM HIGH YIELD BOND FUND
Supplement to the Prospectus dated March 1, 1998
as supplemented on November 16, 1998
STRONG SHORT-TERM BOND FUND
Effective immediately, Mr. Lyle J. Fitterer and Mr. Shirish Malekar will cease
to be co-managers of the Strong Short-Term Bond Fund. Mr. John T. Bender joins
Mr. Bradley C. Tank as a co-manager of the Fund. Information on Mr. Bender can
be found on page I-29 of the Fund's Prospectus.
STRONG GOVERNMENT SECURITIES FUND
Effective immediately, Mr. John T. Bender will cease to be a co-manager of the
Strong Government Securities Fund. Mr. Thomas A. Sontag joins Mr. Bradley C.
Tank as a co-manager of the Fund. For thirteen years prior to joining Strong
Capital Management, Inc. in November, 1998, Mr. Sontag worked at Bear Stearns &
Co., most recently as a Managing Director of the Fixed Income Department. From
September 1982 until December 1985, Mr. Sontag was employed in the Fixed Income
Department at Goldman Sachs & Co. Mr. Sontag received his B.B.A. degree in
Economics/Finance from the University of Wisconsin-Madison in 1981 and his
M.B.A. in Finance from the University of Wisconsin-Madison in 1982.
EARLY REDEMPTION FEE
Shares of the Strong High-Yield Bond Fund purchased after January 1, 1999 will
be subject to a 1.00% redemption fee if the shares are held for less than six
(6) months. The Fund is taking this action to protect the long-term investors
in the Fund from the negative effects caused by short-term "market timers."
Market timers engage in frequent purchases and redemptions that can disrupt the
Fund's investment program and create additional transaction costs that are
borne by all shareholders.
Redemption fees will be paid to the Fund to help offset transaction costs. The
Fund will use the "first-in, first-out" (FIFO) method to determine the six
month holding period. Under this method, the date of the redemption or exchange
will be compared with the earliest purchase date of shares held in the account.
If this holding period is less than six months, the fee will be assessed.
The fee may apply to shares held through omnibus accounts.
In determining the "six months," the Fund will use the six month anniversary
date of the transaction. For example, shares purchased on January 1, 1999 will
be subject to the fee if they are redeemed on or prior to June 30, 1999. If
they are redeemed on or after July 1, 1999, they will not be subject to the
fee.
The date of this Prospectus Supplement is December 1, 1998.
