THE VALIANT FUND
(the "Trust")
Supplement dated December 15, 1998 to the
Prospectus Dated December 15, 1998
Change in Address
The current address for the Trust, the Manager and the Distributor is 1800
Second Street, Suite 757, Sarasota, FL 34236.
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The above revisions are effective immediately. Except as indicated in the
Supplement, all addresses described in the Trust's Prospectus remain unchanged.
<PAGE>
THE VALIANT FUND
(the "Trust")
Supplement dated December 15, 1998 to the
Statement of Additional Information Dated December 15, 1998
Change in Address
The current address for the Trust, the Manager and the Distributor is 1800
Second Street, Suite 757, Sarasota, FL 34236.
----------------------------------
The above revisions are effective immediately. Except as indicated in the
Supplement, all addresses described in the Trust's Prospectus remain unchanged.
