Filed Pursuant to Rule 497(k)(1)(iii)(B)
[PIE CHART WITH BONDS EMPHASIS]
FUND PROFILE
January 15, 1999
THE STRONG HIGH-YIELD MUNICIPAL BOND FUND
THE STRONG MUNICIPAL BOND FUND
THE STRONG SHORT-TERM HIGH YIELD MUNICIPAL FUND
THE STRONG SHORT-TERM MUNICIPAL BOND FUND
This profile summarizes key information about the Funds that is included in the
Funds' prospectus. The Funds' prospectus includes additional information about
the Funds, including a more detailed description of the risks associated with
investing in the Funds that you may want to consider before you invest. You may
obtain the prospectus and other information about the Funds at no cost by
calling 1-800-368-3863 or visiting our web site at www.strongfunds.com.
[STRONG LOGO]
<PAGE>
WHAT ARE THE FUNDS' GOALS?
The STRONG HIGH-YIELD MUNICIPAL BOND FUND seeks total return by investing for a
high level of federally tax-exempt current income.
The STRONG MUNICIPAL BOND FUND and the STRONG SHORT-TERM HIGH YIELD MUNICIPAL
FUND seek total return by investing for a high level of federally tax-exempt
current income with a moderate degree of share-price fluctuation.
The STRONG SHORT-TERM MUNICIPAL BOND FUND seeks total return by investing for a
high level of federally tax-exempt current income with a low degree of
share-price fluctuation.
WHAT ARE THE FUNDS' PRINCIPAL INVESTMENT STRATEGIES?
The HIGH-YIELD MUNICIPAL BOND FUND invests primarily in long-term, medium- and
lower-quality municipal bonds. The Fund's manager emphasizes bonds whose credit
quality may be improving, and issuers that complement current investment
themes, such as the "aging of America." She also takes the overall interest
rate environment into consideration. The Fund typically maintains an average
maturity between 15 and 25 years.
The MUNICIPAL BOND FUND invests primarily in long-term, higher-quality
municipal bonds. The Fund's manager conducts intensive research on individual
issuers to uncover solid investment opportunities, especially looking for bonds
whose quality may be improving. The Fund typically maintains an average
maturity between 10 and 20 years.
The SHORT-TERM HIGH YIELD MUNICIPAL FUND follows a similar investment style to
the HIGH-YIELD MUNICIPAL BOND FUND, but invests primarily in short- and
intermediate-term, medium- and lower-quality municipal bonds. To help manage
risk, the Fund maintains an average maturity between one and three years.
The SHORT-TERM MUNICIPAL BOND FUND invests primarily in short- and
intermediate-term, higher- and medium-quality municipal bonds, following the
style of the MUNICIPAL BOND FUND. The Fund maintains an average maturity of
three years or less.
<PAGE>
Although the Funds invest primarily for income, they also employ techniques
designed to realize capital appreciation. For example, a manager may select
bonds with maturities and coupon rates that position them for potential capital
appreciation for a variety of reasons including a manager's view on the
direction of future interest-rate movements and the potential for a credit
upgrade.
The managers may sell a holding if its fundamental qualities deteriorate, or to
take advantage of more attractive yield opportunities. Also, the managers may
invest any amount in cash or cash-type securities as a temporary defensive
position to avoid losses during adverse market conditions. This could reduce
the benefit to the Funds if the market goes up. In this case, the Funds may not
achieve their investment goals.
The Funds invest in municipal bonds whose interest may be subject to the
Alternative Minimum Tax (AMT).
Additional information about the Funds' investments is available in the Funds'
annual and semiannual reports to shareholders. These reports discuss the market
conditions and investment strategies that significantly affected the Funds'
performance during the past fiscal year. You may obtain these reports at no
cost by calling 1-800-368-3863.
WHAT ARE THE MAIN RISKS OF INVESTING IN THE FUNDS?
BOND RISKS: The Funds' major risks are those of investing in the bond market. A
bond's market value is affected significantly by changes in interest
rates-generally, when interest rates rise, the bond's market value declines and
when interest rates decline, its market value rises. Generally, the longer a
bond's maturity, the greater the risk and the higher its yield. A bond's value
can also be affected by changes in the bond's credit quality or issuer's
financial condition. Because bond values fluctuate, the Fund's share price
fluctuates. So, when you sell your investment you may receive more or less
money than you originally invested.
HIGH-YIELD BONDS: The HIGH-YIELD MUNICIPAL BOND and SHORT-TERM HIGH YIELD
MUNICIPAL FUNDS principally invest in medium- and lower-quality bonds,
including high-yield bonds. These bonds involve greater risks, including the
increased possibility that the bond's issuer may not be able to make its
payments of interest and principal. If that happens, the Fund's share price
would decrease and its income distributions would be reduced.
These Funds are appropriate for investors who are comfortable with the risks
described here. Also, the HIGH-YIELD MUNICIPAL BOND FUND and the MUNICIPAL
<PAGE>
BOND FUND are appropriate for investors whose financial goals are four to seven
years in the future. The SHORT-TERM HIGH YIELD MUNICIPAL FUND and the SHORT-TERM
MUNICIPAL BOND FUND are appropriate for investors whose financial goals are two
to four years in the future. The Funds are not appropriate for investors
concerned primarily with principal stability.
The return information provided illustrates how the Funds' performance can
vary, which is one indication of the risks of investing in the Funds. Please
keep in mind that the Funds' past performance does not represent how they will
perform in the future. This information assumes that you reinvested all
dividends and distributions.
CALENDAR YEAR TOTAL RETURNS
[BAR GRAPH]
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
Year High-Yield Municipal Short-Term Short-Term
Municipal Bond Fund High Yield Municipal
Bond Fund Municipal Bond Fund
Fund
- -------- ---------- --------- ---------- ----------
1989 - 7.1% - -
- -------- ---------- --------- ---------- ----------
1990 - 4.6% - -
- -------- ---------- --------- ---------- ----------
1991 - 13.4% - -
- -------- ---------- --------- ---------- ----------
1992 - 12.2% - 7.2%
- -------- ---------- --------- ---------- ----------
1993 - 11.8% - 6.8%
- -------- ---------- --------- ---------- ----------
1994 -1.0% -4.6% - -1.6%
- -------- ---------- --------- ---------- ----------
1995 14.6% 11.4% - 5.4%
- -------- ---------- --------- ---------- ----------
1996 5.1% 2.4% - 4.9%
- -------- ---------- --------- ---------- ----------
1997 13.9% 12.1% - 6.9%
- -------- ---------- --------- ---------- ----------
1998 5.3% 6.7% 6.1% 5.6%
- -------- ---------- --------- ---------- ----------
</TABLE>
BEST AND WORST QUARTERLY PERFORMANCE (DURING THE PERIODS SHOWN ABOVE)
<TABLE>
<CAPTION>
<S> <C> <C>
FUND NAME BEST QUARTER RETURN WORST QUARTER RETURN
- -------------------------- ----------------------- -----------------------
High-Yield Municipal Bond 4.7% (1st Q 1995) -2.9% (1st Q 1996)
- -------------------------- ----------------------- -----------------------
Municipal Bond 5.8% (2nd Q 1992) -5.1% (1st Q 1994)
- -------------------------- ----------------------- -----------------------
Short-Term High Yield 1.9% (2nd Q 1998) 0.9% (4th Q 1998)
Municipal
- -------------------------- ----------------------- -----------------------
Short-Term Municipal 2.4% (3rd Q 1995) -1.8% (1st Q 1994)
Bond
- -------------------------- ----------------------- -----------------------
</TABLE>
<PAGE>
AVERAGE ANNUAL TOTAL RETURNS
AS OF 12-31-98
FUND/INDEX 1-YEAR 5-YEAR 10-YEAR SINCE INCEPTION
HIGH-YIELD MUNICIPAL BOND 5.27% 7.42% - 7.59% (10-1-93)
High-Yield Municipal
Bond Index 6.21% 6.59% - 6.59%
MUNICIPAL BOND 6.69% 5.43% 7.57% 6.77% (10-23-86)
Lehman Bros. Municipal
Bond Index 6.48% 6.23% 8.22% 7.86%
SHORT-TERM HIGH-YIELD 6.12% - - 6.44% (11-30-97)
MUNICIPAL
Lehman Bros. 1-3 Year Non- 5.44% - - 5.52%
Investment Grade Municipal Bond
Index
SHORT-TERM MUNICIPAL BOND 5.55% 4.18% - 4.97% (12-31-91)
Lehman Bros. Municipal
3 Year Bond Index 5.21% 4.91% - 5.31%
THE HIGH-YIELD MUNICIPAL BOND INDEX IS COMPOSED OF THE LEHMAN BROTHERS BAA
MUNICIPAL BOND INDEX FROM INCEPTION THROUGH 12-31-95, AND THE LEHMAN BROTHERS
HIGH-YIELD MUNICIPAL BOND INDEX FROM 1-1-96 TO PRESENT. THE LEHMAN BROTHERS BAA
MUNICIPAL BOND INDEX IS AN UNMANAGED INDEX GENERALLY REPRESENTATIVE OF
MUNICIPAL BONDS RATED BAA. THE LEHMAN BROTHERS HIGH-YIELD MUNICIPAL BOND INDEX,
WHICH WAS INSTITUTED ON 1-1-96, IS AN UNMANAGED INDEX GENERALLY REPRESENTATIVE
OF MUNICIPAL BONDS RATED BELOW BAA. THE LEHMAN BROTHERS MUNICIPAL BOND INDEX IS
AN UNMANAGED INDEX GENERALLY REPRESENTATIVE OF INVESTMENT-GRADE, TAX-EXEMPT
BONDS. THE LEHMAN BROTHERS 1-3 YEAR NON-INVESTMENT GRADE MUNICIPAL BOND INDEX
IS AN UNMANAGED INDEX GENERALLY REPRESENTATIVE OF MUNICIPAL BONDS RATED BELOW
BAA WITH MATURITIES OF ONE TO THREE YEARS. THE LEHMAN BROTHERS MUNICIPAL 3 YEAR
BOND INDEX IS AN UNMANAGED INDEX GENERALLY REPRESENTATIVE OF THREE-YEAR,
TAX-EXEMPT BONDS.
As of December 31, 1998, the 30-day yields for the Funds were as follows:
HIGH-YIELD MUNICIPAL BOND, 5.55%; MUNICIPAL BOND, 4.92%; SHORT-TERM HIGH YIELD
MUNICIPAL, 4.91%; and SHORT-TERM MUNICIPAL BOND, 4.19%. For investors in the
36% tax bracket, these translate into taxable equivalent yields of 8.67%,
7.69%, 7.67%, and 6.55%, respectively. Without fee waivers, the SHORT-TERM HIGH
YIELD MUNICIPAL FUND'S yield would have been 4.50% and its taxable equivalent
yield would have been 7.03%. For current yield information on these Funds, call
1-800-368-3863.
WHAT ARE THE FUNDS' FEES AND EXPENSES?
This section describes the fees and expenses that you may pay if you buy and
hold shares of the Funds.
SHAREHOLDER FEES (fees paid directly from your investment)
The Funds are 100% no-load, so you pay no sales charges (loads) to buy or sell
shares.
<PAGE>
ANNUAL FUND OPERATING EXPENSES (expenses that are deducted from Fund assets)
The costs of operating each Fund are deducted from Fund assets, which means you
pay them indirectly. These costs are deducted before computing the daily share
price or making distributions. As a result, they don't appear on your account
statement, but instead reduce the amount of total return you receive.
ANNUAL FUND OPERATING EXPENSES (AS A PERCENT OF AVERAGE NET ASSETS)
<TABLE>
<CAPTION>
<S> <C> <C> <C>
FUND MANAGEMENT FEES OTHER EXPENSES TOTAL FUND
EXPENSES**
- -------------------------- --------------- -------------- --------------
High-Yield Municipal Bond 0.60% 0.09% 0.69%
- -------------------------- --------------- -------------- --------------
Municipal Bond 0.60% 0.14% 0.74%
- -------------------------- --------------- -------------- --------------
Short-Term High Yield Municipal 0.60% 0.37%* 0.97%
- -------------------------------- ---------- ---------- ----------
Short-Term Municipal Bond 0.50% 0.12% 0.62%
- -------------------------------- ---------- ---------- ----------
</TABLE>
*BASED ON ESTIMATED AMOUNTS FOR THE CURRENT FISCAL YEAR.
**TOTAL FUND EXPENSES DO NOT REFLECT OUR WAIVER OF MANAGEMENT FEES AND/OR
ABSORPTIONS. WITH WAIVERS AND/OR ABSORPTIONS, THE TOTAL FUND EXPENSES OF THE
SHORT-TERM HIGH YIELD MUNICIPAL FUND WERE 0.38%. WE MAY TERMINATE THESE WAIVERS
AND ABSORPTIONS AT ANY TIME. FOR THE OTHER FUNDS, WE MAY VOLUNTARILY WAIVE SOME
OR ALL OF OUR MANAGEMENT FEES AND/OR ABSORB SOME FUND EXPENSES. ANY WAIVERS
AND/OR ABSORPTIONS WOULD TEMPORARILY LOWER YOUR INVESTMENT'S EXPENSE RATIO AND
INCREASE YOUR INVESTMENT RETURN.
EXAMPLE: This example is intended to help you compare the cost of investing in
the Funds, before waivers and expense absorptions, with the cost of
investing in other mutual funds. The example assumes that you invest $10,000 in
the Funds for the time periods indicated, and then redeem all of your shares at
the end of those periods. The example also assumes that your investment has a
5% return each year and that the Funds' operating expenses remain the same.
Although your actual costs may be higher or lower, based on these assumptions
your costs would be:
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
FUND 1 YEAR 3 YEARS 5 YEARS 10 YEARS
- -------------------------------- --------- ---------- -------- ----------
High-Yield Municipal Bond $70 $221 $384 $859
- -------------------------------- --------- ---------- -------- ----------
Municipal Bond $76 $237 $411 $918
- -------------------------------- --------- ---------- -------- ----------
Short-Term High Yield Municipal $99 $309 $536 $1,190
- -------------------------------- --------- ---------- -------- ----------
Short-Term Municipal Bond $63 $199 $346 $774
- -------------------------------- --------- ---------- -------- ----------
</TABLE>
WHO ARE THE FUNDS' INVESTMENT ADVISOR AND PORTFOLIO MANAGERS?
Strong Capital Management serves as the investment advisor for the Funds.
Mary-Kay H. Bourbulas manages the HIGH-YIELD MUNICIPAL BOND FUND and the
SHORT-TERM HIGH YIELD MUNICIPAL FUND. She joined Strong as a portfolio manager
in October 1991 and has 10 years of investment experience.
Steven D. Harrop manages the MUNICIPAL BOND FUND and the SHORT-TERM MUNICIPAL
BOND FUND. He joined Strong as a portfolio manager in March 1991 and has more
than 25 years of investment experience.
<PAGE>
HOW CAN I BUY FUND SHARES?
There are several ways you can open a new account.
- - BY MAIL: Complete and sign the application. Make your check or money order
payable to Strong Funds. Mail it to Strong Funds, P.O. Box 2936, Milwaukee,
WI 53201.
- - BY PHONE OR BY INTERNET: If you are a current Strong Funds shareholder and
choose exchange privileges, you can exchange shares from one Strong account
to open another.
You can also open an account in person or through a broker-dealer.
The minimum initial investment is $2,500 for a regular account, $500 for an
Education IRA, and $250 for an IRA or transfer or gift to minor account.
Because the income from the Funds is generally exempt from federal income tax,
the Funds may not be appropriate for IRAs or Education IRAs. If you establish
an Automatic Investment Plan of $50 or more per month, these minimums are
waived. In all cases, the minimum for subsequent investments is $50.
HOW CAN I SELL FUND SHARES?
There are several ways you can sell (redeem) your Fund shares.
- - BY MAIL: You can write a letter of instruction, including your account
number, the dollar amount or number of shares you wish to redeem, each
owner's name, your street address, and the signature of each owner. Mail it
to Strong Funds, P.O. Box 2936, Milwaukee, WI 53201.
- - BY PHONE OR BY INTERNET: If you choose redemption privileges, you can sell
shares by phone or through our web site.
You can also redeem shares in person, through a systematic withdrawal plan or
through a broker-dealer.
DO THE FUNDS PAY OUT DIVIDENDS OR CAPITAL GAINS? HOW ARE THEY TAXED?
The Funds may earn income from interest on the bonds in their portfolios and
may realize capital gains from appreciation on those holdings. The Funds
declare income each business day and distribute it monthly, and declare and
distribute capital gains annually.
Unless you elect otherwise, distributions of income and capital gains will be
automatically reinvested in the Fund that paid them.
<PAGE>
The income from the Funds is generally exempt from federal income taxes, but
may be subject to state tax. In addition, investors who are subject to the
Alternative Minimum Tax (AMT) may have to pay federal income tax on a portion
of their income from these Funds. Capital-gains distributions are taxed at
rates based on how long the assets were held by the Fund. After the end of each
calendar year, Strong sends shareholders a statement of the Funds' income and
capital- gains distributions to assist in tax preparation.
WHAT SERVICES DOES STRONG FUNDS PROVIDE?
Strong offers you a variety of ways to get information, monitor your
investments, and buy and sell shares.
- - Personal service 24 hours a day, 7 days a week
- - Automated telephone service
- - Online transaction services
- - Automatic investment plans
- - Payroll direct deposit
- - Automatic exchange services
- - Systematic withdrawal plans
- - Retirement plans for individuals and corporations
Strong representatives can tell you more about each of these services, and can
also give you further information about buying and selling shares. Just call
1-800-368-3863 anytime, day or night, or visit our web site at
WWW.STRONGFUNDS.COM.
[STRONG LOGO]
STRONG FUNDS
P.O. Box 2936, Milwaukee, Wisconsin 53201
Strong Investments, Inc. 10074L98
MI0199
<PAGE>
The following application is separate from the profile.
IRA Account Application
[STRONG LOGO]
STRONG FUNDS
Please complete this form to establish your Strong Funds IRA. If you are opening
more than one type of IRA (Traditional, Roth, SEP, Rollover), please complete a
separate IRA Account Application for each account. If this is a conversion from
a Traditional IRA to a Roth IRA, simply complete an IRA Conversion Form. If you
have questions about this application, call 24 hours, toll-free: 1-800-368-3863.
P.O. Box 2936, Milwaukee, WI 53201 www.strongfunds.com
1. Registration and Mailing Address
_______________________________________________
Owner's name (first, middle, last)
_______________________________________________
Social Security number for tax reporting
__________________
Date of birth
_______________________________________________
Street or P.O. Box
___________________________________
E-mail address (optional)
___________________________
City
___________________________
Daytime phone
_________ ____________
State Zip code
___________________________
Evening phone
__ U.S. citizen/Resident alien or __ Non-resident alien (Please specify
country of tax residency.):___________________
2. Your Beneficiary
To name multiple beneficiaries, include all information in this section on a
separate sheet. Unless noted, Strong Funds will assume equal distribution among
beneficiaries.
_______________________________________________
Beneficiary's name (first, middle, last)
______________________________
Taxpayer ID number (SSN or EIN)
____________________________
Date of birth (if applicable)
_______________________________________________
Street or P.O. Box
____________________________
Relationship to you
____________________________
City
____________________________
Daytime phone
____________ ___________
State Zip code
____________________________
Evening phone
Spousal Consent: If you name someone other than your spouse and reside in a
community or marital property state, including AZ, CA, ID, LA, NJ, NM, TX, WA,
or WI, your spouse must consent. Your spouse must sign below to consent to the
beneficiary designation.
X_____________________________________________
Signature of spouse
_______________________
Date
3. Fund Selection
Minimum initial investment for any Strong Fund IRA is $250, $25,000 for
Heritage Money Fund.
The maximum combined contribution to a Traditional IRA and a Roth IRA account
per tax year is $2,000 (excluding rollovers or conversions). Refer to the
prospectus/profile for possible Fund restrictions and fees. Please make checks
payable to Strong Funds.
__________________________________________
Fund name
$ or %
______________________
Initial investment
__________________________________________
Fund name
$ or %
______________________
Initial investment
4. Type of IRA
__ TRADITIONAL IRA
__Individual Account
Choose one: __ For tax year______________($2,000 maximum) or __ Rollover
from another IRA
__Direct Rollover/Transfer Please complete an IRA Transfer Form. Strong
Funds will arrange for your transfer of assets.
Choose one: __ IRA to IRA __ Rollover IRA to Rollover IRA __ Qualified
Plan (403(b), 401(k), Defined Contribution) to IRA
__ ROTH IRA Choose one:
__Contributory Account: For tax year___________($2,000 maximum) or
__ Rollover from another IRA
__ Transfer of assets--Roth IRA to Roth IRA Please complete an IRA Transfer
Form.
Does this account contain any dollars from a 1998 Roth IRA Conversion? __Yes
If this box is not checked, we will assume no.
__ SEP-IRA (Simplified Employee Pension Plan) Each employee must complete an
IRA Application and the employer must complete IRS Form 5305-SEP.
Choose one: __ For tax year___________ or __ Rollover or transfer from
another SEP-IRA
5. Notice of Withholding Upon Distribution
You must make a federal income tax withholding election on any distribution made
from your IRA account. If you do not check a box below, Strong Funds will
withhold 10% from any distributions from your Traditional, SEP or Roth IRA
account as a prepayment of federal income tax.
__ I do not want federal income tax withheld from my IRA distribution.
__ I want federal income tax of 10% withheld from my IRA distribution.
I understand that I am still liable for the payment of federal income tax on the
amount received, and if my payments of the estimated tax and withholding are
insufficient, I may be subject to federal income tax penalties under the
estimated tax payment rules.
Continued on next page
<PAGE>
6. Account Options
[PICTURE OF VOIDED CHECK]
Please include a voided bank check if you are establishing an Automatic
Investment Plan, Telephone Purchase, or Telephone Redemption via electronic
funds transfer (EFT) or wire.
Automatic Investment Plan (AIP)
The AIP option allows you to make automatic purchases from your bank account
into a Strong Funds account.
Amount invested each time ($50 minimum) $__________ Fund name___________________
Investment frequency: __ Once a month on the ____ day of the month or
__ Twice a month on the ___ and ___ days of the month.
This privilege will be effective 15 days after we receive your application. You
may change your investment amount at any time by simply calling or writing us.
If no amount is chosen, your bank account will be debited $50. If no date is
chosen, your account will be debited on the 15th day of the month. This service
is governed by the terms set forth in the shareholder manual and the rules of
the Automated Clearing House.
All purchases made between January 1 and April 15 are to be considered: (please
choose one)
__ Current year purchases __ Prior year purchases
If no box is checked, all investments will be considered current year
purchases. Any changes to this election must be made in writing prior to the
purchase taking place.
Telephone Transaction Privileges
Each of these telephone privileges will be added to your account. If you do not
want these options, check the boxes below.
Telephone Exchange--you can sell shares by phone from one Strong Funds account
and use this money to buy shares in an identically registered Strong Funds
account. __ I do not want Telephone Exchange.
Telephone Redemption--you can sell shares by phone and have the money sent to
your address (in section 1), or to your bank account (via EFT or wire).
__ I do not want Telephone Redemption.
Telephone Purchase--you can purchase shares by phone with payment from your
designated bank account by EFT. Unless a voided check is enclosed, the
Telephone Purchase option cannot be established. __ I do not want Telephone
Purchase.
We use care to ensure that instructions communicated by phone are genuine.
Strong Funds may not be liable for losses due to unauthorized or fraudulent
instructions. Certain Funds assess an early redemption fee. For more details
about these account options (including fees, minimums, and bank information),
refer to section 7, the prospectus, or the shareholder manual.
7. Bank Information
If you want the Automatic Investment Plan (AIP), telephone redemption to your
bank account, or telephone purchase with payment by EFT, please attach a voided
bank check. This check must be for the bank account into which funds should be
deposited by EFT or wire (for telephone redemption) and from which funds should
be withdrawn by EFT (for AIP or telephone purchase). If you initiate a telephone
purchase before 3:00 p.m. Central time, the transfer of funds from your bank
account will normally occur on the following banking day. Neither the applicable
Fund nor its transfer agent will be responsible for banking system delays beyond
its control. Your bank account registration MUST have one name in common with
your Strong Funds account registration in section 1. The following authorization
is required for EFT transactions: By signing section 8, I authorize my bank to
honor all entries to my bank account initiated through Firstar Bank Milwaukee,
N.A., on behalf of the applicable Strong Fund. Neither the Fund nor its transfer
agent will be liable for acting upon instructions believed genuine and in
accordance with the procedures described in the prospectus and the shareholder
manual. When AIP or telephone purchase transactions are presented, sufficient
collected funds must be in my account to pay them. I agree that my bank's
treatment and rights to respect each entry shall be the same as if it were
signed personally by me. I agree that if any such entries are dishonored with
good or sufficient cause, my bank shall be under no liability whatsoever. I
further agree that any such authorization, unless previously terminated by my
bank in writing, is to remain in effect until five banking days after receipt by
the Fund's transfer agent of my written notification to cancel the
authorization.
8. Signature
You can invest after reviewing the profile or prospectus. To receive a
prospectus, please call 1-800-368-3863.
I adopt the Strong Funds IRA Custodial Agreement and appoint the custodian or
its agent to perform those functions and appropriate administrative services
specified. I have received the current prospectus and/or profile for the Fund(s)
in which I am investing. I have read and understand the IRA Custodial Agreement
and Disclosure Statement. I will obtain and read the current prospectus and/or
profile for each fund into which I may exchange before I request the exchange. I
represent that I am of legal age and have legal capacity to make this purchase.
If I am opening a Traditional IRA with a distribution from an employer-sponsored
retirement plan, I elect to treat the distribution as a partial or total
distribution and certify that the distribution qualifies as a rollover
contribution. I understand the following fees may be collected by redeeming
sufficient shares from each Fund account balance: (1) an annual $10 maintenance
fee per Fund ($30 maximum), (2) a $10 account liquidation fee and (3) a $10
transfer fee. The custodian may change the fee schedule.
To complete the application, you must sign here.
X______________________________________
Your signature
______________________
Date
Before you mail, have you:
x Entered your Social Security number in section 1?
__
x Included a voided check (if applicable)?
__
x Enclosed your check made payable to Strong Funds?
__
x Signed your application in section 8?
__
x Indicated your withholding election in section 5?
__
IRAAPP
11.98
<PAGE>
The following application is separate from the profile.
New Account Application
[STRONG LOGO]
STRONG FUNDS
Do not use this application to open an IRA or other retirement account.
If you have questions, call 1-800-368-3863, 24 hours a day, 7 days a week.
P.O. Box 2936, Milwaukee, WI 53201 www.strong-funds.com
1. Account Registration
__ Individual or
__ Joint Account
("Joint tenants with right
of survivorship," unless
otherwise specified)
_________________________________
Owner's name (first, middle, last)
_________________________________
Social Security number for tax reporting
_____________
Date of birth
_________________________________
Joint owner's name (first, middle, last)
______________________
Social Security number
_____________
Date of birth
__ Gifts/Transfers to Minor
(UGMA/UTMA)
_________________________________________________
Custodian's name (one name only) as custodian for:
__________________________________
Minor's name (first, middle, last)
_____________________________
Minor's Social Security number
_____________________
Minor's date of birth
__ Corporation, Trust
or Other Entity
__________________________________________
Name of corporation, trust or other entity
__________________________________
Social Security/Employer ID number
_____________________________
If a trust, name of trustee(s)
_____________
Date of trust
2. Mailing Address and Citizenship
__________________
Street or P.O. Box
__________________
City
_____ ________
State Zip Code
_______________________________
E-mail address (if applicable)
______________
Daytime phone
______________
Evening phone
__ U.S. citizen/Resident alien or __ Non-resident alien (Please specify
country of tax residency.):________________________
3. Fund Selection
If no Fund is listed below--or if you would prefer a different fund--please
write in the Fund name. Refer to the prospectus for possible fund restrictions
and fees.
Initial Investment
Investment
Heritage Money Fund (049) $25,000 minimum $_________
Money Market Fund (023) $ 2,500 minimum $_________
Municipal Money Market Fund (026) $ 2,500 minimum $_________
Investors Money Fund (072) $ 1,000 minimum $_________
Advantage Fund (031) $ 2,500 minimum $_________
Municipal Advantage Fund (051) $ 2,500 minimum $_________
$250 is the minimum for Uniform Gifts or Transfers to Minors accounts
($25,000
minimum for the Heritage Money Fund).
Investment method
__ Check $_______________ (Please make payable to Strong Funds.)
__ No-Minimum Automatic Investment Program (Please complete the Automatic
Investment Plan in section 5.)
__ Exchange from identically registered Strong Funds account #_____________
Amount $__________
__Wire $__________ Date of wire____________
(For wire instructions, please call 1-800-368-3863.)
Distributions
All dividends and capital gains will be automatically reinvested, unless you
select one of the following:
__ Electronically transfer distribution to the bank account indicated on the
voided bank check included with this application. __ Mail distribution check
to the address in section 2.
4. Check Writing (Optional)--Money Market and Bond Funds Only
Reminder: We also need your signature in section 6.
If you would like check writing privileges on a Strong money market and/or bond
fund, please write the Fund name(s) and sign below:
_____________________________________
Fund name(s)
_____________________________________
Account number (to be completed by Strong Funds)
X______________________________________
Signature (as you will sign your check)
_______________________________________
Print name of account owner, custodian, or trustee
____________
Date
X
_____________________________________
Signature (as you will sign your check)
_____________________________________
Print name of joint owner, co-trustee, or corporate officer
____________
Date
How many owners must sign checks? __ One __ Two __ All (If no box is
checked, we will accept any one signature on checks.)
Authorized signers must be registered owners of the account, unless corporate
or
other entity account. For joint owners, both signatures are required above,
even
if only one signature will be required on checks. Minors may not sign checks.
You agree to be bound by the Check Writing Terms and Conditions found in the
front of the book of checks that will be sent to you.
<PAGE>
5. Account Options
Please include a voided bank check if you are establishing an Automatic
Investment Plan, telephone purchase, or telephone redemption via electronic
funds transfer (EFT) or wire.
Automatic Investment Plan (AIP)
The AIP option allows you to make automatic purchases from your bank account
into a Strong Funds account.
Amount invested each time ($50 minimum) $________ Fund name____________________
Investment frequency: __ Once a month on the_____ day of the month or __
Twice a month on the______ and_______ days of the month.
This privilege will be effective 15 days after we receive your application. You
may change your investment amount at any time by simply calling or writing us.
If no date or amount is chosen, your bank account will be debited $50 on the
15th day of the month. This service is governed by the terms set forth in the
shareholder manual and the rules of the Automated Clearing House.
Telephone Transaction Privileges
Each of these telephone privileges will be added to your account. If you do not
want these options, check the boxes below.
Telephone Purchase--you can purchase shares by phone with payment from your
designated bank account by EFT. This option will be effective 15 days after we
receive this application. __ I do not want Telephone Purchase.
Telephone Exchange--you can sell shares by phone from one Strong Funds account
and use this money to buy shares in an identically registered Strong Funds
account. Certain Funds assess an early redemption fee. __ I do not want
Telephone Exchange.
Telephone Redemption--you can sell shares by phone and have the money sent to
your address (in section 2), or to your bank account (via EFT or wire). __I
do not want Telephone Redemption.
We use care to ensure that instructions communicated by phone are genuine.
Strong Funds may not be liable for losses due to unauthorized or fraudulent
instructions.
For more details about these account options (including fees, minimums, and
bank
information), refer to section 7 and the shareholder manual.
6. Signatures
You can invest after reviewing the profile or prospectus. To receive a
prospectus, please call 1-800-368-3863.
I have received the current fund profile and/or prospectus for the Fund(s) in
which I am investing. I agree to be bound by the terms of the profile,
prospectus, and shareholder manual as each may be revised from time to time. I
will obtain and read the current fund profile and/or prospectus for each Fund
into which I may exchange before I request the exchange. I represent that I am
of legal age and have legal capacity to make this purchase.
I certify under penalties of perjury that: (1) the number shown on this form
is the correct Social Security number or Employer I.D. number (or that I am
waiting for a number to be issued to me), and (2) I am not subject to backup
withholding because: (a) I am exempt from backup withholding, or (b) I have not
been notified by the Internal Revenue Service (the "IRS") that I am subject to
backup withholding as a result of a failure to report all interest dividends,
or
(c) the IRS has notified me that I am no longer subject to backup withholding.
You must cross out item (2), above, if you have been notified by the IRS that
you are subject to backup withholding because of under-reporting interest or
dividends on your tax returns.
The Internal Revenue Service does not require your consent to any provision
of
this document other than the certifications required to avoid backup
withholding.
To complete the application, you must sign here.
X_____________________________________
Signature of owner, trustee, or custodian
_______________________________________
Please print name (and title, if applicable)
____________
Date
X______________________________________
Signature of joint owner or co-trustee
________________________________________
Please print name (and title, if applicable)
____________
Date
Corporations: Please include a certified copy of your corporate resolution, or
call us for an alternate form.
Trusts: Please use the title "Trustee" after each signature.
7. Bank Information
If you want the Automatic Investment Plan (AIP), telephone redemption to your
bank account, telephone purchase with payment by EFT, or direct deposit of
distributions, please attach a voided bank check. This check must be for the
bank account into which funds should be deposited by EFT or wire (for
telephone
redemption or direct deposit of distributions) and from which funds should be
withdrawn by EFT (for AIP or telephone purchase). If you initiate a telephone
purchase before 3:00 p.m. Central Time, the transfer of funds from your bank
account will normally occur on the following banking day. Neither the
applicable
Fund nor its transfer agent will be responsible for banking system delays
beyond
its control. Your bank account registration MUST have one name in common with
your Strong Funds account registration in section 1. The following
authorization
is required for EFT transactions: By signing section 6, I authorize my bank to
honor all entries to my bank account initiated through Firstar Bank Milwaukee,
N.A., on behalf of the applicable Strong Fund. Neither the Fund nor its
transfer
agent will be liable for acting upon instructions believed genuine and in
accordance with the procedures described in the prospectus. When AIP or
telephone purchase transactions are presented, sufficient collected funds must
be in my account to pay them. I agree that my bank's treatment and rights to
respect each entry shall be the same as if it were signed personally by me. I
agree that if any such entries are dishonored with good or sufficient cause, my
bank shall be under no liability whatsoever. I further agree that any such
authorization, unless previously terminated by my bank in writing, is to remain
in effect until five banking days after receipt by the Fund's transfer agent of
my written notification to cancel the authorization.
[PICTURE OF VOIDED CHECK]
Please include a voided bank check if you are establishing an AIP, telephone
purchase, or telephone redemption via EFT or wire.
x Enclosed your check made payable to Strong Funds?
- --
Before you mail, have you: x Included a voided check (if applicable)?
--
x Signed your application in section 6? x Entered your Social
-- --
Security or tax ID number in section 1?
798AP1
<PAGE>
