RODNEY SQUARE MULTI MANAGER FUND, 497, 1996-06-21

RODNEY SQUARE MULTI MANAGER FUND
497, 1996-06-21

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                                                          Rule 497(e)
                                                     File No. 33-8120
                                                    File No. 811-4808
                                                       CIK No. 799199
                                
                                
                                
                        THE RODNEY SQUARE
                       MULTI-MANAGER FUND
                      THE GROWTH PORTFOLIO
                 SUPPLEMENT DATED JUNE 20, 1996
                    TO THE FUND'S PROSPECTUS
            DATED MAY 1, 1996 AS REVISED MAY 20, 1996
                                
                                
The Growth and  Income Portfolio (the "Portfolio"),  a  series of The 
Rodney Square  Multi-Manager  Fund,  will be liquidated  on  June 21,  
1996.  Portfolio shareholders who have not  redeemed their  shares of 
the Portfolio  will receive  a pro rata liquidation  distribution  on  
their shares.   Portfolio  shareholders  may invest their liquidation 
proceeds in shares of the Growth Portfolio at net asset value without 
a  sales load.   The  opportunity  to invest  liquidation proceeds in 
shares  of the  Growth  Portfolio at net asset value without a  sales  
load  will remain available until July 20, 1996.