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Please file this prospectus supplement with your records.
STRONG INCOME FUNDS
STRONG U.S. TREASURY MONEY FUND, INC.
STRONG MONEY MARKET FUND, INC.
STRONG ADVANTAGE FUND, INC.
STRONG SHORT-TERM BOND FUND, INC.
STRONG GOVERNMENT SECURITIES FUND, INC.
STRONG INCOME FUND, INC.
Prospectus Supplement Dated February 17, 1995, to Prospectus Dated May 1, 1994.
ANNUAL MEETING OF SHAREHOLDERS. The Board of Directors of the Funds has
approved submitting for shareholder vote the following items at an Annual
Meeting of Shareholders to be held on April 13, 1995, or any adjournment
thereof: (i) the election of an expanded Board of Directors for each Fund; (ii)
adoption and ratification of each Fund's revised advisory agreement with Strong
Capital Management, Inc. (SCM); (iii) the ratification of independent public
accountants for each Fund; (iv) adoption of each Fund's revised Articles of
Incorporation; and (v) the approval of a revised investment objective
for each Fund. The Board of Directors also approved changing the name of Strong
Income Fund, Inc. to Strong Corporate Bond Fund, Inc.
The Board of Direrctors of the Funds also has proposed for shareholder approval
certain changes to each Fund's investment limitations that are designed (i) to
simplify and modernize the Funds' fundamental investment limitations, (ii) to
replace certain fundamental investment limitations with non-fundamental
operating policies, and (iii) to eliminate certain limitations. These changes,
if adopted, are intended to conform each Fund's policies to those expected to
become standard for all Funds managed by SCM and, in certain cases, are
designed to increase each Fund's flexibility to make investments.
The proposed investment objective of the U.S. Treasury Money and Money Market
Funds is "to seek current income, a stable share price, and daily liquidity."
The U.S. Treasury Fund will continue to invest only in securities issued
directly by the U.S. government. The Money Market Fund will continue to invest
in corporate, bank, and government instruments that represent minimal credit
risk. The proposed investment objective of the Advantage Fund is "to seek
current income with a very low degree of share-price fluctuation." The Advantage
Fund will continue to invest primarily in investment-grade bonds with an
average portfolio maturity of less than one year. The proposed
investment objective of the Short-Term Bond Fund is "to seek total return
by investing for a high level of current income with a low degree of share-
price fluctuation." The Short-Term Bond Fund will continue to invest primarily
in investment-grade bonds with an average portfolio maturity of
one to three years. The proposed investment objective of the Government
Securities and Income Funds is "to seek high total return by investing for
a high level of current income with a moderate degree of share-price
fluctuation." The Government Securities Fund will continue to
invest at least 80% of its assets in U.S. government securities. The Income
Fund will continue to invest primarily in investment-grade corporate bonds.
The proposed investment objectives are designed to describe each Fund's goal
more clearly and are not intended to change the manner in which the Funds are
managed.
A copy of each Fund's Proxy Statement dated February 16, 1995, will be provided
without charge by calling 1-800-368-3863 and is incorporated herein by
reference. This information supplements the section entitled "Investment
Objectives and Policies" contained on pages I-15 through I-22 of the
Prospectus.
WHEN-ISSUED SECURITIES. Effective immediately, each Fund may invest without
limitation in when-issued or delayed delivery securities ("when-issued
securities"). For more information, please see the section entitled
"When-Issued Securities" on Page I-29 of the Prospectus. This information
supplements the referenced section.
FORWARD CURRENCY CONTRACTS. Effective immediately, the Advantage, Short-Term
Bond, and Income Funds may enter into forward currency contracts to set a fixed
exchange rate for foreign security transactions in order to facilitate the
settlement of foreign securities and to hedge out the foreign currency risk
attached to a foreign security between the purchase or sale of the security
and its subsequent settlement. Forward currency contracts involve obligations
to purchase or sell a specified currency at a future date, which may be any
fixed number of days (or within a specified time period) from the date of the
contract agreed upon by the parties, at a price set at the time of the
contract. When a Fund enters into a forward currency contract, it relies on
the counter party to make or take delivery of the underlying currency at
the maturity of the contract. Failure by the counter party to do so would
result in the loss of any expected benefit of the transaction. When required
by Securities and Exchange Commission guidelines, a Fund will set aside
permissible liquid assets in a segregated account to secure its potential
obligations under forward currency contracts. This information supplements the
section entitled "Foreign Securities" on pages I-27 through I-28 of the
Prospectus.
