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THE OBERWEIS FUNDS
SUPPLEMENT TO PROSPECTUS
DATED MAY 1, 1996
OBERWEIS MICRO-CAP PORTFOLIO
Effective as of the close of business on May 22, 1996, the Micro-Cap Portfolio
had net assets in excess of $50 million, and in conformance with the Fund's
intention to cap the Micro-Cap Portfolio's assets at $50 million, the Fund
ceased sales of shares of the Micro-Cap Portfolio to both new shareholders and
existing shareholders.
PERFORMANCE
The discussion on page 4 under the heading "Performance Comparison" is
supplemented by the following:
In advertising, sales literature and other publications, the Fund's
performance may be quoted in terms of total return or average annual total
return, which may be compared with various indexes and investments, other
performance measures or rankings, or other mutual funds, or indexes or
averages of other mutual funds.
Supplement dated May 22, 1996
