MAINSTAY INSTITUTIONAL FUNDS INC.

                           Institutional Class Shares
                       Institutional Service Class Shares

                       Supplement dated September 1, 1998
                       to the Prospectus dated May 1, 1998


Joseph Portera has assumed Shigemi Takagi's responsibilities as portfolio
manager of the International Equity Fund (the "Fund").  Mr. Takagi is no
longer with MacKay-Shields Financial Corporation, the investment
sub-adviser to the Fund.  Mr. Portera's biography appears on page 27 of
the prospectus.  Mr. Takagi's biography, which appears on page 22 of the
prospectus, is hereby deleted.



© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission