WILLIAM BLAIR MUTUAL FUNDS, INC.
222 WEST ADAMS STREET
CHICAGO, ILLINOIS 60606
(312) 364-8000
SUPPLEMENT TO THE PROSPECTUS DATED MAY 1, 1998
Effective January 1, 1999, Mr. W. George Greig is the portfolio manager for the
International Growth Fund. Since 1996, when he joined William Blair & Company,
L.L.C.'s Investment Management Department, Mr. Greig co-managed the Fund's
portfolio with Mr. Norbert W. Truderung. The description of Mr. Truderung is
deleted from the disclosure regarding the Portfolio Management of the
International Growth Fund on page 17 of the Prospectus in the section entitled
"International Growth Fund--Portfolio Management".
Supplement dated February 16, 1999.