Supplement dated August 7, 2000 to Prospectus and
Statement of Additional Information dated May 1, 2000
STRATTON MUTUAL FUNDS
Stratton Growth Fund, Inc.
Stratton Monthly Dividend REIT Shares, Inc.
Stratton Small-Cap Value Fund
The following information replaces and supersedes any contrary
information contained in the Funds' Prospectus.
The "Investment Advisor" section on page 12 of the Prospectus is
amended as follows:
Effective August 1, 2000, James W. Stratton, Chief Executive Officer
of Stratton Management, will replace Frank H. Reichel, III as the
portfolio manager primarily responsible for the day-to-day investment
management of Stratton Small-Cap Value Fund.
The "Officers" section of the outside back cover of the Prospectus is
deleted and replaced with the following:
OFFICERS
James W. Stratton Gerald M. Van Horn
Chairman, Stratton Mutual Funds Vice President
President, Stratton Small-Cap Value Fund Stratton Small-Cap Value Fund
John A. Affleck Joanne E. Kuzma
President Vice President
Stratton Growth Fund
Patricia L. Sloan
Secretary & Treasurer
James A. Beers
President, Stratton Monthly Brigid E. Hummel
Dividend REIT Shares Assistant Secretary & Treasurer
Reference to Frank H. Reichel, III in the "Management of the Funds"
section on page 8 of the Statement of Additional Information is deleted.
Mr. Stratton's biography on page 8 is revised to add that he is the President
of The Stratton Funds, Inc.
YOU SHOULD RETAIN THIS SUPPLEMENT WITH THE
PROSPECTUS FOR FUTURE REFERENCE.
