BOSTON PARTNERS LARGE CAP VALUE FUND
ADVISOR AND INVESTOR CLASSES
OF
THE RBB FUND, INC.
SUPPLEMENT DATED JANUARY 31, 1997
TO PROSPECTUSES DATED DECEMBER 1, 1996
--------------------------------------
The section titled "OTHER INFORMATION -- Historical Pro-Forma Information"
in the Prospectuses is restated to reflect more current performance information
as follows:
"The table below presents the Composite performance history of certain of
the Adviser's managed accounts on an annualized basis for the period ended
December 31, 1996. The Composite is comprised of institutional accounts and
other privately managed accounts with investment objectives, policies and
strategies substantially similar to those of the Fund, although the accounts
have longer operating histories than the Fund, which commenced operations on
January 1, 1997. The Composite performance information includes the reinvestment
of dividends received in the underlying securities and is net of investment
advisory fees. The privately managed accounts in the Composite are only
available to the Adviser's institutional advisory clients. These accounts have
lower investment advisory fees than the Fund. In addition, the past performance
of the accounts which comprise the Composite is not indicative of the future
performance of the Fund. These private accounts are not subject to the same
investment limitations, diversification requirements and other restrictions
which are imposed upon mutual funds under the Investment Company Act of 1940 and
the Internal Revenue Code, which, if imposed, may have adversely affected the
performance results of the Composites. Listed below the performance history for
the Composite is a comparative index comprised of securities similar to those in
which accounts contained in the Composite are invested.
For the Period Ended December 31, 1996
Since
One Year Inception*
-------- ----------
Composite Performance 27.43% 30.96%
S&P 500 Stock Index 22.96% 25.89%
* The Adviser commenced managing these accounts on June 1, 1995."
<PAGE>
BOSTON PARTNERS LARGE CAP VALUE FUND
INSTITUTIONAL CLASS
OF
THE RBB FUND, INC.
SUPPLEMENT DATED JANUARY 31, 1997
TO PROSPECTUS DATED DECEMBER 1, 1996
--------------------------------------
The section titled "OTHER INFORMATION -- Historical Pro-Forma Information"
in the Prospectus is restated to reflect more current performance information as
follows:
ADVISER'S COMPOSITE PERFORMANCE HISTORY
"The table below presents the Composite performance history of certain of
the Adviser's managed accounts on an annualized basis for the period ended
December 31, 1996. The Composite is comprised of institutional accounts and
other privately managed accounts with investment objectives, policies and
strategies substantially similar to those of the Fund, although the accounts
have longer operating histories than the Fund, which commenced operations on
January 1, 1997. The Composite performance information includes the reinvestment
of dividends received in the underlying securities and is net of investment
advisory fees. The privately managed accounts in the Composite are only
available to the Adviser's institutional advisory clients. These accounts have
lower investment advisory fees than the Fund. In addition, the past performance
of the accounts which comprise the Composite is not indicative of the future
performance of the Fund. These private accounts are not subject to the same
investment limitations, diversification requirements and other restrictions
which are imposed upon mutual funds under the Investment Company Act of 1940 and
the Internal Revenue Code, which, if imposed, may have adversely affected the
performance results of the Composites. Listed below the performance history for
the Composite is a comparative index comprised of securities similar to those in
which accounts contained in the Composite are invested.
For the Period Ended December 31, 1996
Since
One Year Inception*
-------- ----------
Composite Performance 27.43% 30.96%
S&P 500 Stock Index 22.96% 25.89%
* The Adviser commenced managing these accounts on June 1, 1995."
HOW TO PURCHASE SHARES
The last paragraph on page 7 of the Prospectus in the section titled "How
to Purchase Shares" is revised to read as follows:
"Shares may be purchased by principals and employees of the Adviser and by
their spouses and children, either directly or through their individual
retirement accounts, and by any pension and profit-sharing plan of the Adviser,
without being subject to the minimum investment limitations."
