William Blair Mutual Funds, Inc.
222 West Adams Street
Chicago, Illinois 60606
(312) 364-8000
SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION
dated May 1, 1997
The following information replaces the disclosure regarding the Fund's directors
on pages 4-5 of the Fund's Statement of Additional Information in the section
entitled "Directors and Officers:"
CONRAD FISCHER (63),* (2) Chairman of the Board and Director; Principal, William
Blair & Company, L.L.C.; Trustee Emeritus, Chicago Child Care Society, a
non-profit organization.
VERNON ARMOUR (69),* (1) (2) (3) Director; 635 Woodland Road, Lake Forest,
Illinois 60045; private investor; Trustee, Illinois Institute of Technology,
Northwestern Memorial Hospital and OTHO S.A. Sprague Memorial Institute.
J. GRANT BEADLE (64),** Director, 985 Riomar Drive, Vero Beach, Florida 32963;
Retired Chairman and Chief Executive Officer, Union Special Corporation,
industrial sewing machine manufacturer; Retired Associate Director, Northwestern
University Institute for Learning Sciences; Director, Learning Sciences
Corporation, Oliver Products Company, Batts, Inc., Portec, Inc. and Woodward
Governor Company.
THEODORE A. BOSLER (62),** Director, 812 Oak Street, Winnetka, Illinois 60093;
Retired Principal and Vice President, Lincoln Capital Management; Director,
Thresholds, a psychiatric recovery center; Institute of Chartered Financial
Analysts.
GEORGE KELM (68),** (1) (3) Director; 4 Court of Connecticut River,
Lincolnshire, Illinois 60069; Retired Chairman of the Board, Sahara Coal
Company, Inc. and Sahara Enterprises, Inc.; Director, Rolf Jensen & Associates,
Inc.; Trustee, Newberry Library and McCormick Theological Seminary.
ANN P. MCDERMOTT (57),** (3) Director; 330 Willow Road, Winnetka, Illinois
60093; Trustee, Rush Presbyterian St. Luke's Medical Center; Women's Board, Rush
Presbyterian St. Luke's Medical Center; Honorary Director, Visiting Nurse
Association; Director, Presbyterian Homes; Northwestern University, Women's
Board; University of Chicago, Women's Board; Director, Washington State
University Foundation.
JAMES M. MCMULLAN (62),* Director; Principal, William Blair & Company, L.L.C.;
Director, Securities Industry Association.
JOHN B. SCHWEMM (62),** (1) (3) Director; 2 Turvey Lane, Downers Grove, Illinois
60515; Retired Chairman and Chief Executive Officer, R.R. Donnelley & Sons
Company, printer; Director, USG Corp., building material product company and
Walgreen Co., drug store chain.
W. JAMES TRUETTNER, JR. (65),* Director; Principal, William Blair & Company,
L.L.C.; Director, Glenview Foundation, International Travel Services and Roberts
Industries, Inc.
* Directors who are interested persons as defined in the Investment
Company Act of 1940.
** Mr. Kelm maintains a brokerage account with the Adviser, and Mr.
Beadle, Mr. Bosler, Ms. McDermott and Mr. Schwemm employ the Advisor to
manage assets that they control.
Supplement dated November 6, 1997
