<PAGE>
T. ROWE PRICE
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Personal Strategy Funds, Inc.
Supplement to prospectus dated October 1, 1998
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Table 3 on page 6 of the prospectus is amended as follows: under the Growth
Fund, the fee waiver/expense reimbursement is incorrectly listed as 0.62%. The
correct fee waiver/expense reimbursement is 0.11%.
<TABLE>
Table 3 Fees and Expenses of the Funds
<CAPTION>
Annual fund operating expenses /a/
(expenses that are deducted from fund assets)
Management Other Total annual fund Fee waiver/expense Net
fee expenses operating expenses reimbursement expenses
<S> <C> <C> <C> <C> <C>
Income /b/ 0.47% 0.63% 1.10% 0.15% 0.90%
Balanced /c/ 0.60 0.45 1.05 - 1.05
Growth /d/ 0.62 0.59 1.21 0.11 1.10
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</TABLE>
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The date of this supplement is October 1, 1998.
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C11-045 9/28/98
