LB SERIES FUND, INC.
Supplement to Prospectus Dated
January 30, 1998
Relating to the Opportunity Growth Portfolio
At a meeting of the board of directors of LB Series Fund, Inc. (the "Fund")
on March 5-6, 1998, the directors of the Fund unanimously approved a
proposed new investment sub-advisory agreement between the Fund, Lutheran
Brotherhood, and T. Rowe Price Associates, Inc. ("T. Rowe Price"). Under
the proposed agreement T. Rowe Price would serve as investment sub-adviser
for the Opportunity Growth Portfolio of the Fund (the "Portfolio"). The
proposed sub-advisory agreement remains subject to approval by the
Portfolio's shareholders. A special meeting of shareholders of the
Portfolio has been scheduled for April 29, 1998 to consider and to vote upon
the proposed sub-advisory agreement.
Until the proposed sub-advisory agreement is approved by shareholders or a
new portfolio manager is retained, Lutheran Brotherhood is using an
investment advisory group to manage the Portfolio. The members of the
advisory group are listed below.
Rolf F. Bjelland, Chairman and President LB Series Fund, Inc. and Executive
Vice President of Lutheran Brotherhood. Mr. Bjelland has been with Lutheran
Brotherhood since 1983 and serves on the investment advisory group for the
Lutheran Brotherhood Opportunity Growth Fund.
Harold R. Goldstein, Portfolio Manager of Lutheran Brotherhood. Mr. Goldstein
has been with Lutheran Brotherhood since 1993, previously serving as a
securities analyst and equities research manager. He is Associate Portfolio
Manager of the Lutheran Brotherhood Fund and serves on the investment advisory
group for the Lutheran Brotherhood Opportunity Growth Fund.
Brian L. Thorkelson, Portfolio Manager of Lutheran Brotherhood. Mr.
Thorkelson has been with Lutheran Brotherhood since 1989, previously serving
as a securities analyst. He is the Portfolio Manager of the Lutheran
Brotherhood Mid Cap Growth Fund and the Mid Cap Growth Portfolio of LB
Series Fund, Inc., and serves on the investment advisory group for the
Lutheran Brotherhood Opportunity Growth Fund.
Scott A. Vergin, Portfolio Manager of Lutheran Brotherhood. Mr. Vergin has
been with Lutheran Brotherhood since 1984, previously serving as a
securities analyst. He is the Portfolio Manager of the Growth Portfolio of
LB Series Fund, Inc. and serves on the investment advisory group for the
Lutheran Brotherhood Opportunity Growth Fund.
James. M. Walline, Vice President of Lutheran Brotherhood and Vice President
LB Series Fund, Inc. Mr. Walline has been with Lutheran Brotherhood since
1968, previously serving as a securities analyst and portfolio manager. He
is Portfolio Manager of the Lutheran Brotherhood Fund and serves on the
investment advisory group for the Lutheran Brotherhood Opportunity Growth
Fund.
March 24, 1998
PLEASE INCLUDE THIS SUPPLEMENT WITH YOUR PROSPECTUS
#19099
