N/I NUMERIC INVESTORS
                                 family of funds

                      N/I NUMERIC INVESTORS Micro Cap Fund
                        N/I NUMERIC INVESTORS Growth Fund

                       N/I NUMERIC INVESTORS Mid Cap Fund
                   N/I NUMERIC INVESTORS Small Cap Value Fund

                  (INVESTMENT PORTFOLIOS OF THE RBB FUND, INC.)

                         Supplement dated April 18, 2002
                      to Prospectus dated December 18, 2001


Revisions relating to the close of the N/I NUMERIC INVESTORS Small Cap Value
Fund

     The second, third and fourth paragraphs under the caption "CAPITAL
LIMITATION" on page 2 of the prospectus are revised as follows:

     As a result, each of the Funds will close to further investment when
     increasing transaction costs begin to diminish the Fund's performance.
     Generally, when a Fund is closed to further investment, its shares are
     offered only to existing shareholders of the Fund and certain other
     persons, who generally are subject to cumulative, maximum purchase amounts,
     as follows: (i) persons who already hold shares of this Fund directly or
     through accounts maintained by brokers by arrangement with the Company,
     (ii) existing and future clients of financial advisors and planners whose
     clients already hold shares of this Fund, and (iii) employees of Numeric
     and their spouses and children. Other persons who are shareholders of other
     N/I NUMERIC INVESTORS Funds are not permitted to acquire shares of a closed
     Fund by exchange. Distributions to all shareholders of the closed Fund will
     continue to be reinvested unless a shareholder has elected otherwise.

     Numeric reserves the right to reopen a closed Fund to new investments at
     any time or to further restrict sales of its shares.

     Currently, the N/I NUMERIC INVESTORS Small Cap Value Fund is closed to all
     new investments, except from employees of Numeric and their spouses and
     children.

     Numeric intends to close the N/I NUMERIC INVESTORS Growth and N/I NUMERIC
     INVESTORS Micro Cap Funds to new investors when each Fund's total assets
     reach $125 million, and intends to close the N/I NUMERIC INVESTORS Mid Cap
     Fund when the Fund's total assets reach $200 million.



     The following paragraph is included under the caption "N/I NUMERIC
INVESTORS SMALL CAP VALUE FUND - PRIMARY INVESTMENT STRATEGIES" on page 9 of the
prospectus:

     As noted under "CAPITAL LIMITATION" on page 2 of this prospectus, the Fund
is currently closed to all new investments.