[PIE CHART WITH STOCKS EMPHASIS]
FUND PROFILE
July 15, 1998
THE STRONG FOREIGN MAJORMARKETSSM FUND
THE STRONG OVERSEAS FUND
This profile summarizes key information about the Funds that is included in the
Funds' prospectus. The Funds' prospectus includes additional information about
the Funds, including a more detailed description of the risks associated with
investing in the Funds that you may want to consider before you invest. You may
obtain the prospectus and other information about the Funds at no cost by
calling 1-800-368-3863 or visiting our web site at www.strong-funds.com.
[STRONG FUNDS LOGO]
STRONG FUNDS
<PAGE>
WHAT ARE THE FUNDS' GOALS?
The STRONG FOREIGN MAJORMARKETS FUNDSM and the STRONG OVERSEAS FUND seek
capital growth.
WHAT ARE THE FUNDS' INVESTMENT STRATEGIES?
The FOREIGN MAJORMARKETS FUND invests primarily in stocks issued by companies
in the countries represented in the Morgan Stanley Capital International
Europe, Australasia, Far East Index (EAFE Index). The manager employs a
disciplined, quantitative approach to identify foreign stocks that are
undervalued. The manager then analyzes these stocks to make final selections.
The manager will sell stocks when they have reached price targets or to adjust
the Fund's weighting in specific countries. To manage foreign currency risk,
the manager may hedge a portion of the Fund's exposure to currency
fluctuations.
The OVERSEAS FUND selects stocks using a top-down approach that emphasizes
three key elements: country allocation, currency management, and stock
selection. The manager identifies those areas of the world that offer
above-average growth potential, then uses extensive in-house research and
in-depth analysis to pick individual stocks within those countries. The Fund
normally invests in stocks from at least 10 foreign countries.
The manager also evaluates the liquidity of a market or stock before
investing-that is, he focuses on those where the flow of investments in and out
is relatively free. As a way of controlling costs and improving shareholders'
after-tax return, the manager intends to keep turnover low. When a stock's
negative factors outweigh its positive ones, the manager may sell it.
WHAT ARE THE MAIN RISKS OF INVESTING IN THE FUNDS?
GENERAL STOCK RISKS: The Funds' major risks are those of investing in the
stock market. That means they may experience sudden, unpredictable declines in
value, as well as periods of poor performance. Because stock values fluctuate,
when you sell your investment you may receive more or less money than you
originally invested. These risks are magnified in foreign markets.
FOREIGN AND EMERGING MARKETS: The Funds invest in securities from foreign
markets. Foreign investments involve additional risks, including
<PAGE>
currency fluctuations, political instability, differences in financial reporting
standards, and less stringent regulation of securities markets. These risks are
greater in less-established, emerging markets.
SMALLER COMPANIES: The Funds may invest in the stocks of small- and
medium-size companies. Small companies have limited products, markets, or
financial resources, and so their stocks present more risks than larger-company
stocks. Mid-size company stocks are generally more volatile than stocks of large
companies, but tend to be less volatile than small-company stocks. These risks
are magnified in foreign markets.
These Funds are appropriate for investors who have financial goals five years
or more in the future, and who are comfortable with the risks described here.
They are not appropriate for investors concerned primarily with principal
stability.
Because the Funds began operations on June 30, 1998, they do not have any
return history.
WHAT ARE THE FUNDS' FEES AND EXPENSES?
This section describes the fees and expenses that you may pay if you buy and
hold shares of the Funds.
SHAREHOLDER FEES (FEES PAID DIRECTLY FROM YOUR INVESTMENT)
The Funds are 100% no-load, so you pay no fees to buy or sell shares. There
also are no 12b-1 marketing fees.
ANNUAL FUND OPERATING EXPENSES (EXPENSES THAT ARE DEDUCTED FROM FUND ASSETS)
You do pay the costs of operating each Fund, which are deducted from Fund
assets. These costs are deducted before computing the daily share price or
making distributions. As a result, they don't appear on your account statement,
but instead reduce the amount of total return you receive. Because the Funds
began operations on June 30, 1998, the expenses other than management fees have
been estimated in the chart below.
ANNUAL FUND OPERATING EXPENSES (AS A PERCENT OF AVERAGE NET ASSETS)
FUND MANAGEMENT FEES OTHER EXPENSES TOTAL EXPENSES
- --------------- --------------- --------------- ---------------
Foreign 1.00% 1.00% 2.00%
MajorMarkets
Overseas 1.00% 1.00% 2.00%
<PAGE>
EXAMPLE: This example is intended to help you compare the cost of investing in
the Funds with the cost of investing in other mutual funds. The example assumes
that you invest $10,000 in the Funds for the time periods indicated, and then
redeem all of your shares at the end of those periods. The example also assumes
that your investment has a 5% return each year and that the Funds' operating
expenses remain the same. Although your actual costs may be higher or lower,
based on these assumptions your costs would be:
FUND 1 YEAR 3 YEARS
- -------------- ------- -------
Foreign $203 $627
MajorMarkets
Overseas $203 $627
WHO ARE THE FUNDS' INVESTMENT ADVISOR AND PORTFOLIO MANAGERS?
Strong Capital Management serves as the investment advisor for the Funds.
Shirish Malekar manages the FOREIGN MAJORMARKETS FUND. Before joining Strong as
a portfolio manager in January 1994, he was an international bond portfolio
manager at Pacific Investment Management Company for three years. He has 11
years of investment experience.
David Lui manages the OVERSEAS FUND. Before joining Strong as a portfolio
manager in May 1998, he was an international portfolio manager at Phoenix Duff
& Phelps for three years. From 1993 to 1995, he was vice president of Asian
equities at Alliance Capital Management. He has eight years of investment
experience.
HOW CAN I BUY FUND SHARES?
There are several ways you can open a new account.
- - BY MAIL: Complete and sign the application. Make your check or money order
payable to Strong Funds. Mail it to Strong Funds, P.O. Box 2936, Milwaukee,
WI 53201.
- - BY PHONE OR BY INTERNET: If you are a current Strong Funds shareholder and
choose exchange privileges, you can exchange shares from one Strong account
to open another.
You can also open an account in person or through a broker-dealer.
The minimum initial investment is $2,500 for a regular account, $500 for an
Education IRA, and $250 for an IRA or transfer or gift to minor account. If
you establish an Automatic Investment Plan (not available for Education IRAs)
of $50 or more per month, these minimums are waived. In all cases, the minimum
for subsequent investments is $50. (For minimums on other retirement plans,
call 1-800-368-2882.)
<PAGE>
HOW CAN I SELL FUND SHARES?
There are several ways you can redeem (sell) shares from the Fund.
- - BY MAIL: You can write a letter of instruction, including your account
number, the dollar amount or number of shares you wish to redeem, each
owner's name, your street address, and the signature of each owner. Mail it
to Strong Funds, P.O. Box 2936, Milwaukee, WI 53201.
- - BY PHONE OR BY INTERNET: If you choose redemption privileges, you can sell
shares by phone or through our web site.
You can also redeem shares in person, through a systematic withdrawal plan, or
through a broker-dealer.
DO THE FUNDS PAY OUT DIVIDENDS OR CAPITAL GAINS? HOW ARE THEY TAXED?
The Funds may earn income from dividends on the stocks in their portfolios, and
may realize capital gains from appreciation on their holdings. The Funds intend
to declare income and capital gains annually.
Unless you elect otherwise, distributions of income and capital gains will be
automatically reinvested in the Fund that paid them. These distributions are
taxable regardless of whether you reinvest them or take them in cash.
Income is taxable at ordinary federal income tax rates. Capital-gains
distributions are taxed at rates based on how long the assets were held by the
Fund. After the end of each calendar year, Strong sends shareholders a
statement of the Funds' income and capital gains distributions to assist in tax
preparation.
WHAT SERVICES DOES STRONG FUNDS PROVIDE?
Strong offers you a variety of ways to get information, monitor your
investments, and buy and sell shares.
- - Personal service 24 hours a day, 7 days a week
- - Automated telephone service
- - Online transaction services
- - Automatic investment plans
- - Payroll direct deposit
- - Retirement plans for individuals and corporations
Strong representatives can tell you more about each of these services, and can
also give you further information about buying and selling shares. Just call
1-800-368-3863 anytime, day or night.
<PAGE>
[PICTURE OF TELEPHONE]
To order a free prospectus kit,
CALL 1-800-368-1030
To learn more about our funds,
discuss an existing account,
or conduct a transaction,
call 1-800-368-3863
If you are a
Financial Professional,
CALL 1-800-368-1683
[PICTURE OF STRONG WEB SITE ON COMPUTER]
Strong On-Line
www.strong-funds.com
[STRONG LOGO]
STRONG FUNDS
P.O. Box 2936 Milwaukee, Wisconsin 53201
Strong Funds Distributors, Inc. 7902E98 IE798P
