FRED ALGER | Administrative Office: Executive Office:
& COMPANY, | 30 Montgomery Street 1 World Trade Center
INCORPORATED | Jersey City, New Jersey 07302 Suite 9333
(201) 547-3600 New York, New York 10048
Fax (201) 434-1459 (212) 806-8800
Fax (212)269-0420
Member New York Stock Exchange
June 22, 2000
VIA EDGAR
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Securities and Exchange Commission
450 Fifth St., N.W.
Washington, DC 20549
RE: THE ALGER AMERICAN FUND (THE "FUND")
FILE NO. 33-21722
FILE NO. 811-5550
Dear Sir or Madam:
On behalf of the above-referenced Fund, we hereby transmit for filing
pursuant to Rule 497(e) of the Securities Act of 1933, supplements to the
Prospectuses for the above referenced Fund. The Prospectuses vary only with
regard to how many portfolios of the Fund they describe. These supplements
indicate replacement of one of the Fund's Portfolio Managers.
If you require additional information, please do not hesitate to call me at
(800) 223-3810.
Very truly yours,
/s/ ERIC SANDERS
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Eric Sanders
Associate Counsel
Enclosure
<PAGE>
THE ALGER AMERICAN FUND
SUPPLEMENT DATED JUNE 22, 2000 TO THE PROSPECTUS DATED MAY 1, 2000
The paragraph on page 6 of The Alger American Fund's Prospectus under the
heading "Portfolio Managers" is hereby amended to read as follows:
David Alger, Seilai Khoo, Ron Tartaro and Bonnie Smithwick are the
individuals responsible for the day-to-day management of portfolio investments.
Mr. Alger, a co-manager of all of the portfolios since their inceptions, has
been employed by the Manager as Executive Vice President and Director of
Research since 1971, and as President since 1995. Ms. Khoo, a co-manager of the
Leveraged AllCap Portfolio, has been employed by Alger Management since 1989, as
a senior research analyst until 1995 and as a Senior Vice President and
portfolio manager since 1995. Mr. Tartaro, a co-manager of the MidCap Growth,
Growth and Income & Growth Portfolios, has been employed by Alger Management
since 1990, as a senior research analyst until 1995 and as a Senior Vice
President and portfolio manager since 1995. Ms. Smithwick, a co-manager of the
Small Capitalization Portfolio, has been employed by the Manager as a portfolio
manager since June 2000.
<PAGE>
THE ALGER AMERICAN FUND
SUPPLEMENT DATED JUNE 22, 2000 TO THE PROSPECTUS DATED MAY 1, 2000
The paragraph on page 4 of The Alger American Fund's Prospectus under the
heading "Portfolio Managers" is hereby amended to read as follows:
David Alger and Bonnie Smithwick are the individuals responsible for the
day-to-day management of portfolio investments. Mr. Alger, a co-manager of the
portfolio since its inception, has been employed by the Manager as Executive
Vice President and Director of Research since 1971, and as President since 1995.
Ms. Smithwick, a co-manager of the portfolio, has been employed by the Manager
as a portfolio manager since June 2000.
