IDEX SERIES FUND
497, 1998-08-07
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                               IDEX SERIES FUND
     SUPPLEMENT DATED AUGUST 3, 1998 TO PROSPECTUS DATED MARCH 1, 1998
      AS SUPPLEMENTED JUNE 25, 1998, MAY 22, 1998 and MARCH 31, 1998

The  following  replaces  the table  under  the  heading  "Class B Share  Dealer
Reallowances" on page 39 of the Prospectus:

Effective  August  3,  1998,  the  Class B  Share  Dealer  Reallowances  for all
Portfolios of the IDEX Series Fund will be 5%, for all amounts of Class B shares
purchased by new or existing Class B shareholders.

This charge does not affect the  charges or fees paid by  purchasers  of Class B
shares.








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