U S GLOBAL ACCOLADE FUNDS
497, 1998-05-21
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REGENT                        Ranked # [Graphic: Large #1]
EASTERN
EUROPEAN
FUND
                                        for the year 3/31/97 - 3/31/98
                                        According to Lipper Analytical Services
 

      1Year    +15.08%
 
Ranked first out of 154 other funds
in the emerging market category.

                                        Call
                                        1-800-US-FUNDS
                                        1-800-873-8637
[Graphic: U.S. Global Investors Logo]
                                        to receive investment
                                        literature and a prospectus.
     
                                        WWW.usfunds.com

Investing in emerging markets carries special risks which are described
in the Regent Eastern European prospectus. For more information,
including fees and expenses, call an Institutional Marketing
Representative at 1-800-873-3639. Please read the prospectus carefully
before investing.

         The total return set forth above is from the Fund's inception of
3/31/97.  Past performance is no guarantee of future results. Investment
returns and principal value may vary, and you may have a gain or loss when
you sell shares.        IBD195



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