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<PAGE> PROSPECTUS SUPPLEMENT June 9, 1997* Strategist Growth and Income Fund, Inc. (Nov. 29, 1996) Form No. S-6122 C (11/96) The "Portfolio manager" section of the prospectus is revised to delete the reference to Paul Hopkins and to add the following: Portfolio manager Bill Westhoff provides day-to-day portfolio management for the international equities portion of Total Return Portfolio. S-6122-1 A (6/97) *Valid until next prospectus update Destroy Nov. 28, 1997 <PAGE>
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