American AAdvantage Mileage Funds
Supplement dated January 23, 1998
to the Prospectus dated March 1, 1997
Effective January 16, 1998, Brandywine Asset Management,
Inc. ("Brandywine") was acquired, and became a wholly owned
subsidiary of, Legg Mason, Inc. in an exchange of stock.
Brandywine continues to serve as an investment adviser to the
American AAdvantage Balanced Mileage Fund and the American
AAdvantage Growth and Income Mileage Fund with the same
investment personnel as it employed before the acquisition.
