SUPPLEMENT TO THE PROSPECTUS
Waddell & Reed Funds, Inc. - Class B and Class Y Shares
The following information replaces the disclosure regarding High Income Fund's
investment in non-dividend-paying common stocks in the section entitled "About
the Investment Principles of the Funds":
The Fund does not anticipate investing more than 10% of its total assets in
non-dividend-paying common stocks.
To be attached to the cover page of the Class B and Class Y Prospectuses of
Waddell & Reed Funds, Inc. dated January 31, 1998.
This Supplement is dated February 28, 1998.
WRS3000GO
