SHADOW STOCK FUND, INC.
Supplement dated May 27, 1999
to
Prospectus dated October 31, 1998
Management and Investment Counsel (page 12)
Effective May 27, 1999, the Shadow Stock Fund, Inc. (the "Fund")
manager is Anthony M. Maramarco, who is assisted in Fund management by
Catherine Ryan. Mr. Maramarco's role will be to replace Roland W. Whitridge
as co-manager. Mr. Maramarco is a Chartered Financial Analyst. He joined
David L. Babson & Co. in 1996 and has over 18 years investment management
experience. Ms. Ryan has been co-manager of the Fund since January 1999.
She joined David L. Babson & Co. Inc. in 1996 and has 5 years of investment
industry experience.
