% Crop Marks
.5 setlinewidth
/markl 9 def
/whitel 4 def
/top 72 def
/bottom 122 def
/left 45 def
/right 45 def
%horizontals
left markl sub whitel sub wp$y wp$top sub moveto markl 0 rlineto
wp$x right sub left sub whitel 2 mul add 0 rmoveto markl 0 rlineto
left markl sub whitel sub bottom moveto markl 0 rlineto
wp$x right sub left sub whitel 2 mul add 0 rmoveto markl 0 rlineto
%verticals
left bottom markl sub whitel sub moveto 0 markl rlineto
0 wp$y wp$top sub bottom sub whitel 2 mul add rmoveto 0 markl rlineto
wp$x right sub bottom markl sub whitel sub moveto 0 markl rlineto
0 wp$y wp$top sub bottom sub whitel 2 mul add rmoveto 0 markl rlineto
stroke
CAPITAL GROWTH FUND
(A PORTFOLIO OF INVESTMENT SERIES FUNDS, INC.)
Class A Shares
Class C Shares
Investment Shares
Supplement to the Prospectuses dated December 31, 1993
Under the sub-section entitled "Adviser's Background" on page 12 of the
Class A and Class C Prospectuses, and on page 7 of the Investment Shares
Prospectus, please delete the third paragraph and replace it with the
following information:
"Peter R. Anderson has been the Fund's senior portfolio manager since
August 1994. Mr. Anderson
joined Federated Investors in 1972 as, and is presently, a
Senior Vice President of the Fund's investment adviser. Mr.
Anderson is a Chartered Financial Analyst and received his
M.B.A. in Finance from the University of Wisconsin.
Gregory M. Melvin is the Fund's portfolio manager and has participated
in the management of the
Fund since January 1987. Mr. Melvin joined Federated
Investors in 1980 and has been a Vice President of the Fund's
investment adviser since 1984. Mr. Melvin is a Chartered
Financial Analyst and received his M.B.A. in Finance from
Harvard Business School."
August 29, 1994
FEDERATED SECURITIES CORP.
Distributor
A subsidiary of Federated Investors
Federated Investors Tower
Pittsburgh, PA 15222-3779
461444200
461444408
461444101
G00163-02 (8/94)
