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PROSPECTUS SUPPLEMENT
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* MFR EMERGING MARKETS TOTAL RETURN SERIES
* MFR GLOBAL ASSET ALLOCATION SERIES
* MFR GLOBAL HIGH YIELD SERIES
700 HARRISON
TOPEKA, KANSAS 66636-0001
SUPPLEMENT DATED MARCH 8, 1999
TO PROSPECTUS DATED MAY 1, 1998
The Board of Directors of Security Income Fund recently approved the liquidation
and dissolution of the Emerging Markets Total Return Series, the Global Asset
Allocation Series and the Global High Yield Series (the "Series") of the Fund,
subject to the approval of the shareholders of each Series. A meeting of
shareholders will be held on or about April 26, 1999 for the purpose of
considering this proposal. If approved by shareholders, each Series is expected
to liquidate prior to May 1, 1999, and any remaining shareholders on the date of
liquidation will receive a taxable cash distribution at that time.
In connection with the proposed liquidation and dissolution of the Series, the
Board of Directors has directed the Fund's distributor to cease offering shares
of the Series effective at the close of business on March 5, 1999. After that
date, shareholders may continue to reinvest dividends and distributions in the
Series, redeem their shares, or exchange their shares for shares of other series
of Security Income Fund or certain other Security Funds. Shareholders who redeem
after March 5, 1999, will not be subject to a contingent deferred sales charge
pending liquidation of the Series.
Investors should retain this Supplement for future reference.
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