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THE DLB FUND GROUP
DLB VALUE FUND
Supplement dated May 27, 1999
to
Prospectus dated April 30, 1999
HOW THE FUNDS ARE MANAGED -- PORTFOLIO MANAGERS (PAGE 30)
Effective May 27, 1999, Anthony M. Maramarco, Senior Vice President of
David L. Babson and Company Incorporated, the investment manager (the "Manager")
for the DLB Value Fund (the "Fund"), became primarily responsible for the
day-to-day management of the Fund, replacing Roland W. Whitridge as portfolio
manager. Mr. Maramarco, who has 18 years of investment experience, has been
employed by the Manager (and a company which merged into the Manager) since
1993. For the past two years, he has assisted Mr. Whitridge in the management of
the Fund. Mr. Maramarco is assisted in the day-to-day management of the Fund by
a team of investment professionals at the Manager.
