PROSPECTUS SUPPLEMENT -- Dec. 23, 2003*

AXP(R) Large Cap Value Fund ("Fund") (Sept. 29, 2003) S-6246-99 D


Effective  Dec.  23,  2003,  the sales  charge  for Class A shares is waived for
purchases made by an investment portfolio of the State of New York's 529 College
Savings Program Advisor Plan.








S-6246-2 A (12/03)

* Valid until next prospectus update
Destroy Sept. 29, 2004