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SUPPLEMENT DATED JUNE 28, 1996 TO THE PROSPECTUS DATED FEBRUARY 1, 1996
ADVANTUS International Balanced Fund, Inc.
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400 Robert Street North - St. Paul, Minnesota 55101 - 1-800-443-3677
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Effective June 20, 1996, the Portfolio Manager responsible for the
international equities portion of the Fund's portfolio is Mr. Marc S. Joseph of
Templeton Investment Counsel, Inc., Fort Lauderdale, Florida. Mr. Joseph, Vice
President of Portfolio Management/Research, has been with Templeton Investment
Counsel since September, 1993. Prior to that time and from May, 1990, Mr. Joseph
was a Vice President with Pacific Financial Research in Beverly Hills,
California.
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F. 50039 6-96
