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T. ROWE PRICE
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Fixed Income Series, Inc.
Prime Reserve Portfolio
Supplement to prospectus dated May 1, 1999
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The reference to "exempt from federal income taxes" was inserted in error in
the fund's objective on page 1 of the prospectus.
The fund's correct objective is as follows:
What is the fund's objective?
The fund's goals are preservation of capital, liquidity, and consistent with
these, the highest possible current income.
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The date of this supplement is August 1, 1999
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C15-041 8/1/99
