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
March 20, 1998
PLEASE INCLUDE THIS SUPPLEMENT WITH YOUR PROSPECTUS
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