COMSTOCK PARTNERS FUNDS, INC.
Supplement dated June 18, 1999 to Prospectus dated August 28, 1998
On June 17, 1999, Martin Weiner was appointed as President of
Comstock Partners Funds, Inc. (the "Company") and as co-portfolio manager for
each of the Funds. Mr. Weiner, a Chartered Financial Analyst, joined
Comstock Partners, the Investment Adviser to the Funds, in 1995. From 1966
to 1969, he was Equity Analyst and Division Chief at Value Line Investment
Survey, and from 1969 to 1974, he was Equity Analyst and then Vice President
at Standard & Poor's Intercapital. In 1974, Mr. Weiner joined the Grumman
Corporation where he served as Senior Equity Portfolio Manager for the
employee benefit plan from 1978 to 1994. Mr. Weiner has a M.S. in Finance
from Columbia University's Graduate School of Business.
On June 1, 1999, the Company commenced legal action in the U.S.
District Court for the District of New Jersey with respect to the
distribution arrangements of the Strategy Fund and the Capital Value Fund.
The Company has alleged, among other things, that Funds Distributor, Inc. has
interfered with a contractual relationship between Premier Mutual Fund
Services, Inc., the distributor to the Strategy Fund and the Capital Value
Fund. Although management of the Company believes it will prevail on these
claims, there can be no assurance that the Company will prevail or that the
Funds' existing distribution agreements will continue in effect beyond August
31, 1999.
