MUTUAL OF AMERICA INVESTMENT CORPORATION
SUPPLEMENT, DATED NOVEMBER 26, 1997
TO PROSPECTUS, DATED MAY 1, 1997
ON PAGE 14 OF THE PROSPECTUS, THE PARAGRAPH CAPTIONED AGGRESSIVE EQUITY FUND IS
REPLACED IN ITS ENTIRETY BY THE FOLLOWING, TO REFLECT A CHANGE IN THE PORTFOLIO
MANAGER FOR THE FUND:
AGGRESSIVE EQUITY FUND. Frederick M. Gallagher, Senior Vice President of the
Adviser, has responsibility for setting the investment strategy and overseeing
the day-to-day operations of the Aggressive Value Portfolio and the Aggressive
Growth Portfolio of the Aggressive Equity Fund. He is assisted by a team of
research analysts who identify and recommend securities that meet each
Portfolio's criteria for purchase or sale. Mr. Gallagher, who has more than 30
years of investment experience, joined the Adviser in June 1995, and prior
thereto he was Senior Vice President/Equity Investments at Continental Asset
Management Corporation.
