<PAGE>
Rule 497(e)
Reg. No. 33-11371
File No. 811-4982
HEARTLAND GOVERNMENT FUND
Supplement dated December 23, 1999
to
Prospectus dated December 6, 1999
As of the date of this supplement, Patrick J. Retzer, is the sole portfolio
manager of the Heartland Government Fund. Mr. Retzer has served as the
portfolio manager or co-portfolio manager of the Fund since 1988. Lawrence J.
Pavelec, has left his position as co-portfolio manager of the Fund and as an
officer of Heartland Advisors, Inc. to pursue other interests.
For further information on management of the Fund, please refer to page 22 of
the prospectus.
