SUPPLEMENT TO THE PROSPECTUS
Waddell & Reed Funds, Inc. Class B Shares
The following information replaces disclosure in the section entitled "WRIMCO
and Its Affiliates":
Henry J. Herrmann is responsible for the day-to-day management of the portfolio
of International Growth Fund. Mr. Herrmann has held his Fund responsibilities
since January 2, 1996. He is Vice President of the Fund; President, Chief
Executive Officer, Chief Investment Officer and Director of WRIMCO and Waddell &
Reed Asset Management Company; Vice President, Chief Investment Officer and
Director of Waddell & Reed Financial Services, Inc.; Director of Waddell & Reed,
Inc.; Senior Vice President and Chief Investment Officer of United Investors
Management Company, and Vice President of each of the other investment companies
for which WRIMCO serves as investment manager. Mr. Herrmann has been an
employee of Waddell & Reed, Inc. and its successor, WRIMCO, since March 15,
1971.
To be attached to the cover page of the Prospectus of Waddell & Reed Funds, Inc.
Class B shares dated December 2, 1995.
This Supplement is dated January 3, 1996.
WRS3000A0
<PAGE>
SUPPLEMENT TO THE PROSPECTUS
Waddell & Reed Funds, Inc. Class Y Shares
The following information replaces disclosure in the section entitled "WRIMCO
and Its Affiliates":
Henry J. Herrmann is responsible for the day-to-day management of the portfolio
of International Growth Fund. Mr. Herrmann has held his Fund responsibilities
since January 2, 1996. He is Vice President of the Fund; President, Chief
Executive Officer, Chief Investment Officer and Director of WRIMCO and Waddell &
Reed Asset Management Company; Vice President, Chief Investment Officer and
Director of Waddell & Reed Financial Services, Inc.; Director of Waddell & Reed,
Inc.; Senior Vice President and Chief Investment Officer of United Investors
Management Company, and Vice President of each of the other investment companies
for which WRIMCO serves as investment manager. Mr. Herrmann has been an
employee of Waddell & Reed, Inc. and its successor, WRIMCO, since March 15,
1971.
To be attached to the cover page of the Prospectus of Waddell & Reed Funds, Inc.
Class Y shares dated December 2, 1995.
This Supplement is dated January 3, 1996.
WRS3000YA
