NORWEST SELECT FUNDS
INCOME FUND
INCOME EQUITY FUND
VALUGROWTHSM STOCK FUND
SMALL COMPANY STOCK FUND
Supplement Dated July 20, 1999
to Prospectus Dated May 1, 1999
I. VALUGROWTH STOCK FUND
The portfolio manager for ValuGrowth Stock Fund (as described on page
7) was changed effective July 1, 1999. All references in the prospectus to
Charles J. Meyer, the portfolio manager of the Fund prior to July 1, 1999, are
deleted. The following replaces, in its entirety, the subparagraph entitled
"ValuGrowth Stock Fund" under the section entitled "Portfolio Managers" on Page
7:
VALUGROWTH STOCK FUND - Kelli K. Hill, associated with Norwest since
1999. Ms. Hill is also a portfolio manager at Wells Capital Management,
Incorporated, with whom she has been associated since 1989. Ms. Hill is
also the Treasurer for the San Francisco Ballet Association Encore!,
and a board member for Las Casa de les Madres, the largest women's
shelter in the San Francisco area.
II. SMALL COMPANY STOCK FUND
The portfolio manager for Small Company Stock Fund (as described on
page 7) has been changed. All references in the prospectus to Kenneth Lee, a
portfolio manager of the Fund prior July 20, 1999, are deleted. The following
replaces, in its entirety, the subparagraph entitled "Small Company Stock Fund",
under the section entitled "Portfolio Managers" on Page 7:
SMALL COMPANY STOCK FUND - Thomas Zeifang. Mr. Zeifang has been
associated with Norwest since 1999. Mr. Zeifang also is a portfolio
manager at WCM, with whom he has been associated since 1995. Prior to
1995, he served as an analyst at Fleet Investment Advisors.
