Please file this Prospectus Supplement with your records.
STRONG ASSET ALLOCATION FUND II
Supplement to the Prospectus dated May 1, 1997
STRONG ASSET ALLOCATION FUND II
The following portfolio management changes have been made for the
Fund:
1. Mr. Rimas M. Milaitis will serve as the only portfolio
manager of the equity portion of the Fund. Mr. Milaitis joined
Strong Capital Management, Inc. in December of 1995. For the
previous four years, he managed several conservative equity
portfolios at Aon Advisors, Inc. ("AAI") in Chicago, Illinois.
For the two years prior to that, he served as an equity trader
for AAI. Prior to working at AAI, Mr. Milaitis served as an
equity portfolio assistant for three years to the Illinois State
Board of Investment. He attended DePaul University, where he was
awarded his M.B.A. in 1991 and Illinois State University where he
received his B.S. degree in Economics in 1984.
2. Messrs. Bradley C. Tank and Jeffrey A. Koch will serve as
the only portfolio managers of the bond and cash portions of the
Fund. Information relating to the professional backgrounds of
Messrs. Tank and Koch can be found on pages 18 and 19 of the
Fund's prospectus.
The date of this Prospectus Supplement is July 14, 1997.
