THE ANALYTIC SERIES FUND
SUPPLEMENT TO PROSPECTUS DATED OCTOBER 20, 1997
The following information in the Investment Adviser
Section on page 32 has been amended.
Enhanced Equity Portfolio
Dennis M. Bein and Harindra de Silva have been the portfolio
managers for the Enhanced Equity Portfolio since November
1996. Mr. Bein has been a member of the portfolio
management and research team for the Adviser since August
1995. He concurrently serves as a senior associate for
Analysis Group, Inc. with which he has been associated with
since August 1990. Dr. de Silva is the President of the
Fund and of the Analytic Optioned Equity Fund and serves as
a managing director of the Adviser, which he joined in May
of 1995. He concurrently serves as a principal of Analysis
Group, Inc., which he joined in March 1986. They are
subject to the supervision of the Adviser's investment
management committee.
Dated: February 19, 1998
