The YACKTMAN FUNDS, INC.
Supplement to the Statement of Additional Information
Dated April 30, 1998
On November 24, 1998 the stockholders of The Yacktman Funds, Inc. (the
"Company") voted (i) to remove Jon D. Carlson, Thomas R. Hanson, Stanislaw
Maliszewski and Stephen E. Upton as directors of the Company; (ii) to reduce the
number of directors of the Company from six to five; and (iii) to elect Bruce B.
Bingham, Albert J. Malwitz and George J. Stevenson III as directors of the
Company. As a result the section entitled "Directors and Officers of the
Company" beginning on page 7 is amended to (i) delete the biographical
information for Jon D. Carlson, Thomas R. Hanson, Stanislaw Maliszewski and
Stephen E. Upton; and (ii) add the following biographical information for Bruce
B. Bingham, Albert J. Malwitz and George J. Stevenson III.
Bruce B. Bingham -- Director. Mr. Bingham, 49, has been a partner in
Hamilton Partners, a real estate development firm, for more than five years. His
address is c/o Yacktman Asset Management Co., 303 West Madison Street, Chicago,
Illinois 60606.
Albert J. Malwitz -- Director. Mr. Malwitz, 61, has been owner and
chief executive officer of Arlington Fastener Co., a manufacturer and
distributor of industrial fasteners, for more than five years. His address is
c/o Yacktman Asset Management Co., 303 West Madison Street, Chicago, Illinois
60606.
George J. Stevenson, III - Director. Mr. Stevenson, 59, has been
President of Stevenson & Company, a registered business broker, and President of
Healthmate Products Co., a fruit juice concentrate manufacturing company, for
more than five years. His address is c/o Yacktman Asset Management Co., 303 West
Madison Street, Chicago, Illinois 60606.
Following the November 24, 1998 meeting of stockholders, the directors
voted to remove Jon D. Carlson as President, Secretary and Treasurer of the
Company, and elected Donald A. Yacktman as President and Treasurer of the
Company and Ronald W. Ball as Vice President and Secretary of the Company.
As a result of the actions taken by the stockholders at the November
24, 1998 meeting, The Yacktman Fund's Rule 12b-1 Distribution Plan was
terminated, effective November 24, 1998. The section entitled "Distribution
Plan" beginning on page 15 is amended accordingly.
The date of this Supplement is December 14, 1998.
