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SUPPLEMENT TO PAINEWEBBER FINANCIAL SERVICES GROWTH FUND INC.
PROSPECTUS DATED JANUARY 2, 1996
March 1, 1996
Dear Investor,
This is a supplement to the PaineWebber Financial Services Growth Fund Inc.
Prospectus dated January 2, 1996. The purpose of the supplement is to revise
certain information contained in the Prospectus.
At a special meeting of shareholders scheduled for April 10, 1996,
shareholders of PaineWebber Financial Services Growth Fund Inc. ('Fund') will be
asked to approve changes to the Fund's fundamental investment limitations. If
those changes are approved by the Fund's shareholders, the carry-over paragraph
appearing under the 'Investment Objectives and Policies - Other Information'
section on pages 13 and 14 of the Prospectus will be changed to read as follows:
'The Fund's investment objective of long-term capital appreciation and
certain investment limitations, as described in the Statement of
Additional Information, are fundamental and may not be changed without
shareholder approval. All other investment policies, including the
Fund's policy of investing, under normal circumstances, at least 65% of
its total assets in equity securities of financial services companies,
may be changed by the Fund's board of directors without shareholder
approval.'
For further information regarding the proposed changes to the Fund's fundamental
investment limitations, see the Statement of Additional Information, as
supplemented as of the date hereof. If you have any questions regarding
PaineWebber Financial Services Growth Fund Inc., please call your Investment
Executive at PaineWebber or one of its correspondent firms.
