INVESCO COMBINATION STOCK & BOND FUNDS INC
497, 2000-12-15
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                  INVESCO COMBINATION STOCK & BOND FUNDS, INC.

              Supplement to Investor Class and Class C Prospectuses
                          Each Dated September 30, 2000

The section of the Funds'  Prospectuses  entitled "Fund  Management - Investment
Adviser" is amended to delete the second paragraph in its entirety.

The section of the Funds'  Prospectuses  entitled "Fund  Management - Investment
Adviser" is amended to (1) delete the fourth paragraph in its entirety,  and (2)
substitute the following in its place:

     INVESCO and IDI are subsidiaries of AMVESCAP PLC.

The section of the Funds'  Prospectuses  entitled  "Fund  Management - Portfolio
Managers" is amended to (1) delete the first paragraph in its entirety,  and (2)
substitute the following in its place:

     The following  individuals  are primarily  responsible  for the  day-to-day
     management of their respective Fund's or Funds' portfolio holdings:

     Fund                         Portfolio Manager(s)

     Equity Income                Charles P. Mayer
                                  Donovan J. (Jerry) Paul
     Balanced                     Peter M. Lovell
                                  Charles P. Mayer
                                  Donovan J. (Jerry) Paul
     Total Return                 Charles P. Mayer
                                  Richard R. Hinderlie

The section of the Funds'  Prospectuses  entitled  "Fund  Management - Portfolio
Managers"  is amended to (1)  delete  the second and third  paragraphs  in their
entirety, and (2) substitute the following paragraph in its place:

     RICHARD R.  HINDERLIE,  a vice  president of INVESCO,  is the  co-portfolio
     manager of Total  Return  Fund.  Dick joined  INVESCO in 1993.  He holds an
     M.B.A.  from Arizona State  University and a B.A. in Economics from Pacific
     Lutheran University.

The section of the Funds'  Prospectuses  entitled  "Fund  Management - Portfolio
Managers" is amended to (1) delete the fifth  paragraph and (2)  substitute  the
following in its place:

     CHARLES P. MAYER,  Director of Income Equity Investments and a director and
     a senior vice president of INVESCO,  is the co-portfolio  manager of Equity
     Income and Balanced Funds and the lead manager of Total Return Fund. Before
     joining INVESCO in 1993,  Charles was a portfolio manager with Westinghouse
     Pension.  He holds an M.B.A. from St. John's University and a B.A. from St.
     Peter's College.

The section of the Funds'  Prospectuses  entitled  "Fund  Management - Portfolio
Managers" is amended to delete the seventh paragraph in its entirety.

The date of this Supplement is December 15, 2000.



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