MONTGOMERY FUNDS II, 497, 1999-02-26

MONTGOMERY FUNDS II
497, 1999-02-26

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                                                                     Rule 497(e)
                                                 File Nos. 33-69686 and 811-8064


                   Montgomery Small Cap Systematic Value Fund
                   Montgomery Macro Cap Systematic Value Fund
                            (The Montgomery Funds II)

                     Supplement dated March 1, 1999, to the
          Prospectus for the Montgomery Small Cap Systematic Value Fund
               and the Montgomery Macro Cap Systematic Value Fund
                             (dated August 31, 1998)


          On March 1,  1999,  Class B and C shares of the  Small Cap  Systematic
          Value Fund and the Macro Cap Systematic  Value Fund (the "Funds") were
          closed.  Accordingly, no subscriptions for Class B and C shares of the
          Funds will be accepted.

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