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ATLAS FUNDS
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Atlas Assets, Inc.
Supplement dated August 20, 1999 to
Prospectus dated May 1,
1999
Page 16 of the Prospectus is amended to indicate that, effective June 18, 1999,
Robert C. Doll, Jr. resigned as a portfolio manager of the ATLAS STRATEGIC
GROWTH FUND. As of that date, Bruce Bartlett, the co-portfolio manager of Atlas
Growth and Income Fund, assumed responsibility for managing the Atlas Strategic
Growth Fund. Assisting Mr. Bartlett will be Associate Portfolio Manager James F.
Turner, who also assists on the Atlas Growth and Income Fund, and Associate
Portfolio Manager Edward J. Amberger. Mr. Amberger has been an Assistant Vice
President of OppenheimerFunds since April 27, 1998. Previously, Mr. Amberger was
an Assistant Vice President at Dean Witter for approximately one year, and a
Portfolio Manager and research analyst with Bank of New York for approximately
five years.
To reflect the overall increase in the market capitalization of small companies,
the first sentence under "Strategy" for the EMERGING GROWTH FUND on page 3 has
been modified. The change increases the stock market value (market
capitalization) of the companies in which the fund primarily invests from less
than $1 billion, to less than $1.8 billion.
