<PAGE>
PROSPECTUS SUPPLEMENT June 20, 1997*
IDS Innovations Fund (Oct. 31, 1996)
The prospectus section titled "Waivers of the sales charge for Class A shares"
is modified as follows:
The final 2 bullet points of this section are deleted in their entirety and
replaced with the following:
" o Purchases made through or under a "wrap fee" product sponsored by
American Express Financial Advisors Inc. (total amount of all
investments must be $50,000); the University of Texas System ORP; or a
segregated separate account offered by Nationwide Life Insurance Company
or Nationwide Life and Annuity Insurance Company.
o Purchases made with the proceeds from IDS Life Real Estate
Variable Annuity surrenders through December 31, 1997."
*Destroy - May 29, 1998
