LB SERIES FUND, INC.
Supplement to Prospectus Dated
May 1, 1999
Relating to the Opportunity Growth Portfolio
T. Rowe Price Associates, Inc. ("T. Rowe Price") currently serves as
the investment sub-adviser for the Opportunity Growth Portfolio of LB Series
Fund, Inc. Lutheran Brotherhood, the investment adviser to the Opportunity
Growth Portfolio, has notified T. Rowe Price that the investment sub-
advisory contract with T. Rowe Price will terminate at the close of business
on February 29, 2000. T. Rowe Price will continue to serve as investment
sub-adviser for the Opportunity Growth Portfolio through February 29, 2000.
Beginning March 1, 2000, Lutheran Brotherhood will assume day-to-day
management for the Opportunity Growth Portfolio and Brian L. Thorkelson will
become portfolio manager of the Opportunity Growth Portfolio. Mr.
Thorkelson has been with Lutheran Brotherhood since 1987, and currently
serves as portfolio manager of the Mid Cap Growth Portfolio and Lutheran
Brotherhood Mid Cap Growth Fund. Mr. Thorkelson previously served as an
equities analyst with Lutheran Brotherhood.
December 20, 1999
PLEASE INCLUDE THIS SUPPLEMENT WITH YOUR PROSPECTUS
