Supplement No. 1 dated October 9, 1998
to Prospectus dated March 1, 1998
for State Street Research International Equity Fund
A series of state Street Research Portfolios, Inc.
The section captioned "Investment Management" on page 4 is revised in its
entirety to read as follows:
"The fund's investment manager is State Street Research & Management Company.
State Street Research traces its heritage back to 1924 and the founding of one
of America's first mutual funds. Today the firm has more that $49 billion in
assets under management (as of August 31, 1998), including $15 billion in mutual
funds.
Thomas P. Moore, Jr. and Peter C. Bennett have been responsible for the fund's
day-to-day portfolio management since October 1998. Mr. Moore is a senior vice
president and has worked as an investment professional for 20 years. Mr. Bennett
is an executive vice president and director and chief investment officer for
equities. He joined the firm in 1968 and has worked as an investment
professional since 1963."
The third paragraph under the section captioned "Business Structure" on page 24
is revised in its entirety to read as follows: "The investment manager is
responsible for the fund's investment and business activities, and receives the
management fee (0.95%) of fund assets, annually) as compensation. The investment
manager and the distributor are subsidiaries of Metropolitan Life Insurance
Company."
<PAGE>
Supplement No. 1 dated October 9, 1998
to
Statement of Additional Information dated March 1, 1998
for
State Street Research International Equity Fund
a series of State Street Research Portfolios, Inc.
The Fund's investment adviser is State Street Research & Management Company.
State Street Research & Management Company assumed responsibility for the Fund's
day-to-day portfolio management in October 1998. Accordingly, all references to
GFM International Investors, Inc., the Fund's former sub-investment adviser,
should be deleted.
