INVESCO SPECIALTY FUNDS, INC.
                           INVESCO S&P 500 Index Fund

                            Supplement to Prospectus
                             dated December 1, 1997

The table of the above Fund's Prospectus entitled "How To Buy Shares" is amended
to add the  following  sentence  to the  "Class II"  portion  of the  Investment
Minimum/With EasiVest or Direct Payroll Purchase section:

                  You must fulfill the minimum initial  investment  requirements
         ($5,000 for  regular  account;  $2,000 for an IRA) before  using one of
         these options.

The date of this Supplement is March 1, 1998.



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