SOGEN FUNDS, INC.

                            SOGEN INTERNATIONAL FUND

                               SOGEN OVERSEAS FUND
                                 SOGEN GOLD FUND
                                SOGEN MONEY FUND

SUPPLEMENT  DATED  OCTOBER 29, 1999 TO  PROSPECTUS  AND  STATEMENT OF ADDITIONAL
INFORMATION DATED AUGUST 1, 1999.

     On October 11, 1999, Societe Generale Asset Management S.A., ("SGAM S.A."),
owner of 80.1% of the outstanding  equity  securities of Societe  Generale Asset
Management  Corp.  ("SGAM  Corp."),  investment  adviser to each of the separate
portfolios (each a "Fund" and,  collectively,  the "Funds") of SoGen Funds, Inc.
and  SoGen  Variable  Funds,   Inc.  (each  a  "Company"  and  collectively  the
"Companies"),  announced  that it had  signed a Stock  Purchase  Agreement  (the
"Purchase  Agreement")  with  Arnhold  &  S.  Bleichroeder,   Inc.  ("A&SB"),  a
privately-owned  investment firm. Under the Purchase  Agreement,  A&SB agreed to
purchase  all of the  shares  of SGAM  Corp.  held by SGAM S.A.  SGAM S.A.  also
announced that Mr. Jean-Marie  Eveillard,  Chief Executive Officer of SGAM Corp.
and owner of the remaining 19.9% of the equity of SGAM Corp. has entered into an
agreement  with A&SB providing for the eventual sale of his shares of SGAM Corp.
to A&SB in three installments over a period of approximately seven years.

         If the stock  purchase  contemplated  by the  Purchase  Agreement  (the
"Transaction")  occurs,   Arnhold  &  S.  Bleichroeder  Advisers,   Inc.  ("A&SB
Advisers"),  a  wholly-owned  subsidiary  of A&SB,  would become the  investment
adviser to the Funds.  The  primary  investment  management  team of SGAM Corp.,
including Jean-Marie  Eveillard,  would join A&SB Advisers and would continue to
manage the portfolios of the Funds.  The  investment  objectives and policies of
each Fund would remain unchanged.

         In order to permit the  Transaction  to take  place,  a new  investment
advisory agreement between the Funds and A&SB Advisers would have to be approved
by the Board of Directors of the Companies,  as well as by the  shareholders  of
each Fund. These new agreements,  the terms of which are  substantially the same
as those of the  existing  agreements  between  the Funds and SGAM  Corp.,  were
unanimously  approved  by the  Board of  Directors,  including  the  independent
directors,  on October 20, 1999 and will be submitted to the shareholders of the
Funds for their  consideration and approval at special meetings of shareholders.
Neither of the new  agreements  would increase the amounts paid by the Funds for
advisory services.

         Subject to receipt of shareholder  approval,  and the  satisfaction  of
other  conditions   contained  in  the  Purchase  Agreement,   it  is  presently
anticipated  that the closing of the  Transaction  will occur late in the fourth
quarter of 1999 or early in the first quarter of 2000.

                                      * * *

         The  paragraph  under  the  heading  "Investment  Objective,  Principal
Investment  Strategies,  and  Related  Risks --  International  Fund  Investment
Objective and Policies" on page 9 of the prospectus is corrected to read, in its
entirety, as follows:

         "INTERNATIONAL  FUND'S  investment  objective  is to provide  long-term
growth of capital. In seeking to achieve this objective, INTERNATIONAL FUND will
normally  invest  its  assets  primarily  in common  stocks  (and in  securities
convertible into common stocks) of united states and foreign companies. However,
INTERNATIONAL  FUND  reserves  the right to invest a  portion  of its  assets in
fixed-income  securities  (including  lower-rated  securities)  of  domestic  or
foreign  issuers  which,  in addition to the income they may provide,  appear to
offer  potential for long-term  growth of capital.  When deemed  appropriate  by
INTERNATIONAL  FUND'S  investment  adviser for short-term  investment  purposes,
INTERNATIONAL  FUND  may  hold  a  portion  of its  assets  in  short-term  debt
instruments including commercial paper and certificates of deposit."