UAM FUNDS, INC.
ICM Equity Portfolio
ICM Small Company Portfolio
Institutional Class Shares
Supplement dated March 2, 1998
To the Prospectus dated January 22, 1998
The following information is provided to replace the list of
investment professionals of the
Adviser who are primarily responsible for the day-to-day
management of the Portfolio and the
additional members of the Adviser's team of professionals,
as set forth on pages 24 and 25 under
the heading "INVESTMENT ADVISER":
The investment professionals of the Adviser who are
primarily responsible for the
day-to-day operations of the Portfolios and a description of
their business experience during the
past five years are as follows:
Small Company Portfolio -- Robert D. McDorman, Jr.
Equity Portfolio -- Robert F. Boyd
Robert D. McDorman, Jr. _ Principal and Chief
Investment Officer. Mr. McDorman
joined ICM in June, 1985. His primary responsibilities are
the management of the ICM Small
Company Portfolio and related separate accounts and equity
security analysis. Prior to joining
ICM, Mr. McDorman managed the Financial Industrial Income
Fund. Mr. McDorman earned his
B.A. degree at Trinity College and his law degree at the
University of Baltimore. He is a
Chartered Financial Analyst. Mr. McDorman has managed the
ICM Small Company Portfolio
since its inception.
Robert F. Boyd _ Principal. Mr. Boyd joined ICM in
1995 as a Senior Security and
Quantitative Analyst and Portfolio Manager. Before joining
ICM, he was a Managing Director
and portfolio manager at Brandywine Asset Management. Prior
to that, he was Senior Vice
President and Director of Equity and Quantitative Research
at Mercantile-Safe Deposit and Trust
Company. Mr. Boyd earned his B.S. degree from the University
of Virginia, and his M.B.A. at
Columbia University, after which he joined Smith Barney. He
is a Chartered Financial Analyst.
Mr. Boyd began managing the ICM Equity Portfolio in
February, 1998.
Additional members of the Investment Counselors of
Maryland ("ICM") team of
professionals are as follows:
Stephen T. Scott -- Principal and President. Mr. Scott
specializes in the management of
pension assets, private foundations and endowments. He
joined ICM in 1973 after having served
as portfolio manager at Chase Manhattan Bank and Mercantile-
Safe Deposit and Trust
Company. He is a graduate of Randolph-Macon College and
received an M.B.A. from Columbia
University Graduate School of Business.
Paul L. Borssuck -- Principal. Mr. Borssuck joined ICM
in 1985 and heads the firm's
Individual Capital Management Division. Prior to joining
ICM, Mr. Borssuck served as
Chairman of the Investment Policy Committee at Mercantile-
Safe Deposit and Trust Company
where he managed portfolios for high net worth clients.
Prior to that, he headed the institutional
funds management section at American Security and Trust
Company in Washington, D.C.
Mr. Borssuck earned his B.S. degree and M.B.A. from Lehigh
University. He is a Chartered
Financial Analyst.
William V. Heaphy -- Vice President. Mr. Heaphy joined
ICM in 1994 as a security
analyst in the equity research department. Prior to joining
ICM, was an associate in the
Baltimore law firm of Ober, Kaler, Grimes and Shriver, and
before that, a staff auditor with Price
Waterhouse. Mr. Heaphy earned his law degree from the
University of Maryland School of Law
and his B.S. degree from Lehigh University. He is a
Certified Public Accountant and Chartered
Financial Analyst.
Craig Lewis -- Principal and Founder. Prior to founding
ICM in 1972, he was Vice
President of Investments at First National Bank of Maryland.
Before that, he served as Vice
President and Director of Research at Robert Garrett & Sons,
Inc., a New York Stock Exchange
member firm. Mr. Lewis is a graduate of Princeton
University. He is a Chartered Financial
Analyst and past President of the Baltimore Security
Analysts Society.
Linda W. McCleary -- Principal. Ms. McCleary is
responsible for the organization and
administration of the Fixed Income Group at ICM and manages
fixed income portfolios. She
joined ICM in 1978 having worked previously as a Trust
Investment Officer at Equitable Trust
Company. She is a cum laude graduate of Smith College and
holds an M.B.A. from Loyola
College.
Charles W. Neuhauser -- Senior Vice President. Mr.
Neuhauser joined ICM in 1991 as
a security analyst in the equity research department. Before
joining ICM, he served as a security
analyst at Bear, Stearns & Company, Inc. in New York and
then Legg Mason in Baltimore. He
began his career as an analyst with Ruane, Cunniff and
Company, managers of the Sequoia
Fund. Mr. Neuhauser is a graduate of Columbia University. He
is a Chartered Financial Analyst.
Daniel O. Shackelford -- Senior Vice President. Mr.
Shackelford joined ICM in 1993.
Prior to joining ICM, he was Assistant Director of
Investments for the University of North
Carolina. He has specific expertise in the utilization of
financial futures and options and came to
ICM with thirteen years of experience in international fixed
income management. Mr.
Shackelford is portfolio manager for the ICM Fixed Income
Fund and related separate accounts.
He received his B.S. degree in Business Administration from
the University of North Carolina
and an M.B.A. from the Fugua School of Business at Duke
University. He is a Chartered
Financial Analyst.
