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SECURITY FUNDS PROSPECTUS SUPPLEMENT
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SECURITY GROWTH AND INCOME FUND
SECURITY EQUITY FUND
EQUITY SERIES
GLOBAL SERIES
TOTAL RETURN SERIES
SOCIAL AWARENESS SERIES
VALUE SERIES
SMALL COMPANY SERIES
ENHANCED INDEX SERIES
INTERNATIONAL SERIES
SELECT 25 SERIES
SECURITY ULTRA FUND
MEMBERS OF THE SECURITY BENEFIT GROUP OF COMPANIES
700 HARRISON, TOPEKA, KANSAS 66636-0001
SUPPLEMENT DATED MARCH 15, 2000
TO PROSPECTUS DATED FEBRUARY 1, 2000
EFFECTIVE MARCH 7, 2000, TERRY A. MILBERGER ASSUMED PORTFOLIO MANAGEMENT
RESPONSIBILITIES FOR SECURITY GROWTH AND INCOME FUND, REPLACING MICHAEL A.
PETERSON. MR. PETERSON'S BIOGRAPHICAL INFORMATION APPEARING UNDER THE HEADING
"PORTFOLIO MANAGERS" IS REMOVED AND MR. MILBERGER'S BIOGRAPHICAL INFORMATION
UNDER THE SAME HEADING IS REPLACED WITH THE FOLLOWING INFORMATION:
TERRY A. MILBERGER, Senior Portfolio Manager of the Investment Manager, has been
the manager of Equity Fund since 1981 and Growth and Income Fund since March
2000. He has been the lead manager of Select 25 Fund since its inception in
January 1999 and of Total Return Fund since May 1999. He has more than 20 years
of investment experience. He began his career as an investment analyst in the
insurance industry, and from 1974 through 1978, he served as an assistant
portfolio manager for the Investment Manager. He was then employed as Vice
President of Texas Commerce Bank and managed its pension assets until he
returned to the Investment Manager in 1981. Mr. Milberger holds a bachelor's
degree in business and an M.B.A. from the University of Kansas and is a
Chartered Financial Analyst.
