MONTGOMERY FUNDS I
497, 1998-06-12
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                                                                     Rule 497(e)
                                                 File Nos. 33-34841 and 811-6011


                              THE MONTGOMERY FUNDS

                       Supplement dated June 15, 1998 to:

                                   Prospectus
    dated October 15, 1997, as supplemented January 20, 1998 and May 1, 1998


For the Montgomery Micro Cap Fund--Class R Shares

Effective  immediately,  the  name of the  Montgomery  Micro  Cap  Fund has been
changed to Montgomery U.S. Emerging Growth Fund.



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