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THE OBERWEIS FUNDS
SUPPLEMENT TO PROSPECTUS
DATED SEPTEMBER 15, 1996
Effective January 2, 1997, OS 2 Brokerage, Inc., a securities broker-dealer
that is under common control with Oberweis Asset Management, Inc. ("OAM"), the
investment adviser and manager of The Oberweis Funds (the "Fund"), became the
principal distributor and primary shareholder service agent of the Fund. OS 2
Brokerage, Inc. will perform those services pursuant to a Distribution and
Shareholder Service Agreement dated January 2, 1997 with the Fund (the
"Agreement"). The Agreement is substantially the same as the prior
Distribution and Shareholder Service Agreement between The Chicago Corporation
("TCC"), the Fund's prior distributor and shareholder service agent, and the
Fund.
All of the Fund's officers, including James D. Oberweis, who is both an
officer and trustee of the Fund, are employees, officers, directors, and/or
shareholders of OS 2 Brokerage, Inc. None of the Fund's officers or trustees
are currently affiliated with TCC. Peter H. Wendell, an officer of TCC,
resigned as a trustee of the Fund effective December 31, 1996.
OS 2 Brokerage, Inc. is located at 951 Ice Cream Drive, Suite 200, North
Aurora, Illinois 60542.
SUPPLEMENT DATED JANUARY 2, 1997
<PAGE>
THE OBERWEIS FUNDS
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED SEPTEMBER 15, 1996
Effective January 2, 1997, OS 2 Brokerage, Inc., a securities broker-dealer
that is under common control with Oberweis Asset Management, Inc. ("OAM"), the
investment adviser and manager of The Oberweis Funds (the "Fund"), became the
principal distributor and primary shareholder service agent of the Fund. OS 2
Brokerage, Inc. will perform those services pursuant to a Distribution and
Shareholder Service Agreement dated January 2, 1997 with the Fund (the
"Agreement"). The Agreement is substantially the same as the prior
Distribution and Shareholder Service Agreement between The Chicago Corporation
("TCC"), the Fund's prior distributor and shareholder service agent, and the
Fund.
All of the Fund's officers, including James D. Oberweis, who is both an
officer and trustee of the Fund, are employees, officers, directors, and/or
shareholders of OS 2 Brokerage, Inc. Their positions with the Fund and OS 2
Brokerage, Inc. are listed below. None of the Fund's officers or trustees are
currently affiliated with TCC. Effective December 31, 1996, Peter H. Wendell,
an officer of TCC, resigned as a trustee of the Fund, and James M. Roberts
resigned as Vice President of the Fund.
James D. Oberweis, Trustee and President of the Fund, is an Investment
Executive of OS 2 Brokerage, Inc.
Patrick B. Joyce, Executive Vice President and Treasurer of the Fund, is an
Executive Vice President, Treasurer, Secretary and Director of OS 2 Brokerage,
Inc.
James W. Oberweis, Vice President of the Fund, is the President and Director
of OS 2 Brokerage, Inc.
Martin L. Yokosawa, Vice President of the Fund, is an Investment Executive
of OS 2 Brokerage, Inc.
Sally A. Jordan, Secretary of the Fund, is an Administrative Assistant with
OS 2 Brokerage, Inc.
SUPPLEMENT DATED JANUARY 2, 1997
