RULE 497(e)
33-69686
811-8064
THE MONTGOMERY FUNDS II
Supplement dated August 27, 1998, to
Prospectus
dated June 30, 1998
For investors or prospective investors in Montgomery Global Long-Short Fund
and/or Montgomery Emerging Markets Focus Fund:
<TABLE>
Effective September 30, 1998, the initial sales loads, shown on page 8 of the
Prospectus, for Class A shares of each Fund will be as follows:
<CAPTION>
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INVESTMENT AS A PERCENTAGE OF AS A PERCENTAGE OF DEALER REALLOWANCE AS A
OFFERING PRICE NET INVESTMENT PERCENTAGE OF OFFERING
PRICE
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<S> <C> <C> <C>
Less than $50,000 5.50% 5.82% 5.00%
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$50,000 or more, but less than $100,000 4.50% 4.71% 4.00%
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$100,000 or more, but less than $250,000 3.50% 3.63% 3.00%
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$250,000 or more, but less than $500,000 2.50% 2.56% 2.00%
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$500,000 or more, but less than $1,000,000 2.00% 2.04% 1.75%
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$1,000,000 or more* 0.00% 0.00% 0.00%
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<FN>
* The Manager may pay a dealer reallowance on purchases of $1 million or more
during a 13-month period. The dealer reallowance, as a percentage of
offering price, is as follows: 1.00% on purchases between $1 million and $2
million; plus 0.80% on the amount between $2 million and $3 million; plus
0.50% on the amount between $3 million and $50 million; plus 0.25% on the
amount between $50 million and $100 million; plus 0.15% of the amount
exceeding $100 million. Class A shares that (i) were not purchased through
certain fee-based programs or (ii) were not subject to an initial sales
charge or CDSC will be subject to a redemption fee of 1.00% on amounts
redeemed within the first year of purchase.
</FN>
</TABLE>
Furthermore, all references in the Prospectus to sales charge reductions for
purchases of $25,000 or more are hereby changed to indicate that those
reductions will apply to purchases of $50,000 or more.
