NATIONS FUND, INC.
NATIONS EQUITY INCOME FUND
Supplement dated May 22, 1998
to Prospectuses dated August 1, 1997
The combined prospectuses for the Primary A, Primary B, Investor A, Investor B
and Investor C Shares for Nations Equity Income Fund are hereby supplemented by
deleting the paragraph regarding Eric S. Williams under the heading "How The
Funds Are Managed" and replacing the current paragraph regarding Julie L. Hale
with the following:
Julie L. Hale is a Senior Vice President and a Senior Product Manager,
Equity Management for TradeStreet and Senior Portfolio Manager for Nations
Balanced Assets Fund and Nations Equity Income Fund. Ms. Hale has been the
Portfolio Manager for Nations Balanced Assets Fund and Nations Equity Income
Fund since May 1995 and May 1998, respectively. Prior to assuming her position
with TradeStreet, she was Vice President and Senior Portfolio Manager for the
Investment Management Group at NationsBank. She has worked in the investment
community since 1981. Her past experience includes research analysis and
portfolio management for Mercantile Safe Deposit and Trust and National City
Bank. Ms. Hale received a B.S. in Business and Finance from Mount St. Mary's
College and an M.B.A. from Kent State University. She holds the Chartered
Financial Analyst designation and is a member of the Association of Investment
Management and Research as well as the North Carolina Society of Security
Analysts, Inc. Ms. Hale is also a member of the National Association for
Petroleum Investment Analysts and the World Affairs Council of Washington, D.C.
