August 10, 1995
SUPPLEMENT TO
MANAGEMENT AND
INVESTMENT COUNSEL
SECTION CONTAINED IN
PROSPECTUS DATED
OCTOBER 31, 1994
Babson-Stewart Ivory International Fund, Inc.
On June 30, 1995, David L. Babson & Co. Inc.,
a principal owner of the investment counsel,
Babson-Stewart Ivory International, became
a wholly-owned subsidiary of Massachusetts
Mutual Life Insurance Company, a leading provider of
individual life insurance. annuities, employee
group life, health, pension and investment
services headquartered in Springfield,
Massachusetts. There were no changes to the
personnel of David L. Babson & Co. Inc. or Babson-
Stewart Ivory International and no changes
in the investment policies or operations
of the Funds.
Jones & Babson, Inc. remains a wholly owned
subsidiary of Business Men's Assurance Co.
with no changes in ownership, and will continue
to act as manager to the Funds with no changes
in personnel or portfolio investment methods.
The Funds' directors and shareholders have
approved a new management agreement
between the Fund and Jones & Babson as well
as a new investment counsel agreement between
Jones & Babson and Babson-Stewart Ivory
International. There are no fee changes
in either agreement.
