IDEX MUTUAL FUNDS
IDEX AEGON TAX EXEMPT
SUPPLEMENT DATED JUNE 5, 2000 TO PROSPECTUS DATED MARCH 1, 2000
At a Shareholders Meeting held on June 5, 2000, shareholders of IDEX AEGON Tax
Exempt (the "Fund") of IDEX Mutual Funds approved Federated Investment
Management Company as the new sub-adviser for the Fund effective June 15, 2000.
Shareholders also approved amendments to the Fund's fundamental investment
restrictions at that Meeting.
Also, effective June 15, 2000, the Fund will be named IDEX Federated Tax Exempt.
ISF00020
