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THE MAINSTAY FUNDS
Convertible Fund
Equity Income Fund
Strategic Income Fund
Strategic Value Fund
Value Fund
Supplement dated September 9, 1999
to the Prospectus dated May 1, 1999
Page 126 of the Prospectus is revised to reflect that (a) Richard A. Rosen is
portfolio manager of the Equity Income and Strategic Value Funds; (b) Thomas
Wynn is a portfolio manager of the Strategic Value Fund and is not a portfolio
manager of the Strategic Income Fund; and (c) Edmund C. Spelman is a portfolio
manager of the Convertible Fund Page 125 of the Prospectus is revised to
reflect that Denis Laplaige is no longer a portfolio manager of the
Convertible, Value, Equity Income and Strategic Value Funds.
