T. ROWE PRICE
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Personal Strategy Funds, Inc.
Personal Strategy Income Fund
Personal Strategy Growth Fund
Supplement to prospectus dated October 1, 1999
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Effective June 1, 2000, the footnote to Table 3 on page 6 of the prospectus is
revised with the following to reflect the extension of the funds' expense ratio
limitations:
/a /T. Rowe Price is contractually obligated to waive its fees and bear any
expenses to the extent such fees or expenses would cause the fund's ratio of
expenses to average net assets to exceed the indicated percentage
limitations. Fees waived or expenses paid or assumed are subject to
reimbursement to T. Rowe Price by the fund through the indicated
reimbursement date, but no reimbursement will be made if it would result in a
fund's expense ratio exceeding its specified limit. A summary of the funds'
expense limitations and the periods for which they are effective is set forth
below:
<TABLE>
<CAPTION>
<S> <C> <C> <C> <S>
Fund Limitation Period Expense Ratio Limitation Reimbursement Date
Income 6/1/00-5/31/02 0.90% 5/31/04
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Growth 6/1/00-5/31/02 1.10% 5/31/04
</TABLE>
/b/
The Personal Strategy Income Fund previously operated under a 0.95% expense
ratio limitation that expired on May 31, 1998. Effective June 1, 1998, T.
Rowe Price agreed to lower the expense limitation to 0.90% and to extend it
for a period of two years through May 31, 2000. Any accrued fees or expenses
are subject to reimbursement to T. Rowe Price; however, no reimbursement will
be made after May 31, 2000 for the first limitation or May 31, 2002 for the
second limitation, or if it would result in the expense ratio exceeding
0.90%.
/c/
The Personal Strategy Growth Fund previously operated under a 1.10% expense
ratio limitation that expired on May 31, 1998. Effective June 1, 1998, T.
Rowe Price agreed to extend the expense limitation for a period of two years
through May 31, 2000. Any accrued fees or expenses are subject to
reimbursement to T. Rowe Price; however, no reimbursement will be made after
May 31, 2000 for the first limitation or May 31, 2002 for the second
limitation, or if it would result in the expense ratio exceeding 1.10%.
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The date of this supplement is May 26, 2000
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C11-045 5/26/00
