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MUTUAL OF AMERICA INSTITUTIONAL FUNDS, INC.
SUPPLEMENT, DATED AUGUST 13, 1997
TO PROSPECTUS, DATED MAY 1, 1997
ON PAGE 7 OF THE PROSPECTUS UNDER THE HEADING ACTIVE ASSETS OF THE ALL AMERICA
FUND, THE FOURTH AND FIFTH SENTENCES IN THE FIRST PARAGRAPH ON THE PAGE ARE
REPLACED IN THEIR ENTIRETY BY THE FOLLOWING WITH RESPECT TO OAK ASSOCIATES,
PRIMARILY TO REFLECT AN INCREASE IN MARKET CAPITALIZATION OF SECURITIES DUE TO
THE SIGNIFICANT RISE IN STOCK VALUES DURING RECENT PERIODS:
Oak Associates invests in mid- and large-sized capitalization stocks that have
low current income and the potential for significant growth. Oak Associates
monitors 400 stocks and at any one time invests its portion of the Fund in
approximately 15-25 common stocks without regard for market industry weighting.
