WADDELL & REED FUNDS, INC.
GLOBAL INCOME FUND
Supplement to Prospectus dated June 30, 1994
Date of Supplement: February 9, 1995
The following applies only to Global Income Fund:
On February 8, 1995, the Board of Directors of Waddell & Reed Funds, Inc.
approved certain proposals relating to a proposed restructuring of Global Income
Fund ("Fund") and directed that these proposals be submitted to Fund
shareholders at a special meeting anticipated to be held on April 12, 1995.
Pursuant to this restructuring, if approved by Fund shareholders: (a) The Fund's
goal would be changed from pursuit of a high level of current income to pursuit
of long-term appreciation of capital as a primary goal and realization of income
as a secondary goal, with appropriate changes in the investment policies by
which the Fund would seek to achieve these goals; (b) the Fund would operate as
a diversified investment company, rather than the non-diversified company it is
currently; and (c) the investment management fee payable to the Manager with
respect to the Fund would be increased to 0.81%, on an annual basis, of the
Fund's net asset value. If the proposed restructuring is approved, the
contingent deferred sales charge will be waived with respect to redemptions of
Fund shares for a period from April 12, 1995 to April 20, 1995.
Retain this information with your copy of the Fund prospectus.
WRS3001
