UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                    INFORMATION REQUIRED IN PROXY STATEMENT
                            SCHEDULE 14A INFORMATION

           Proxy Statement Pursuant to Section 14(a) of the Securities
                     Exchange Act of 1934 (Amendment No. __)

Filed by the Registrant (x)

Filed by a Party other than the Registrant ( )

Check the appropriate box:

( ) Preliminary Proxy Statement      ( ) Confidential, for Use of the Commission
                                         Only (as permitted by Rule 14a-6(e)(2))
( ) Definitive Proxy Statement

(x) Definitive Additional Materials

( ) Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12

                            The Yacktman Funds, Inc.
    ----------------------------------------------------------------------------
                (Name of Registrant as Specified in Its Charter)

             
    ----------------------------------------------------------------------------
          (Name of Person(s) Filing Proxy Statement, if other than the
                                  Registrant)

Payment of Filing Fee (Check the appropriate box):

(x) No fee required.

( ) Fee computed on table below per Exchange Act Rules 14a-6(i)(1)
    and 0-11.

    (1)  Title of each class of securities to which transaction applies:

    ----------------------------------------------------------------------------
    (2)  Aggregate number of securities to which transaction applies:

    ----------------------------------------------------------------------------
    (3)  Per unit price or other underlying value of transaction computed
         pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
         filing fee is calculated and state how it was determined):

    ----------------------------------------------------------------------------
    (4)  Proposed maximum aggregate value of transaction:

    ----------------------------------------------------------------------------
    (5)  Total fee paid:

    ----------------------------------------------------------------------------
( ) Fee paid previously with preliminary materials:

    ----------------------------------------------------------------------------

( ) Check box if any part of the fee is offset as provided by Exchange Act
    Rule 0-11(a)(2) and identify the filing for which the offsetting fee
    was paid previously.  Identify the previous filing by registration
    statement number, or the form or schedule and the date of its filing.

    (1)  Amount previously paid:

    ----------------------------------------------------------------------------
    (2)  Form, Schedule or Registration Statement no.:

    ----------------------------------------------------------------------------
    (3)  Filing Party:

    ----------------------------------------------------------------------------
    (4)  Date Filed:

    ----------------------------------------------------------------------------



CONTACT:
- --------
Jon D. Carlson
President, The Yacktman Funds, Inc.
630/734-3792

Stanislaw ("Stas") Maliszewski
Director, The Yacktman Funds, Inc.
312/780-1933



FOR IMMEDIATE RELEASE:
- ---------------------


                      YACKTMAN CRITICIZED BY PROXY ANALYST


CHICAGO, ILLINOIS, November 18, 1998---The Yacktman Funds, Inc. (the "Funds")
announced that Institutional Shareholder Services ("ISS"), the foremost analyst
of proxy statements for institutional investors, issued a report on November 12,
1998, advising institutional investors to support the current independent
directors of the Funds by voting AGAINST the proposals of Yacktman Asset
Management Co. ("Yacktman"). In preparing its report, ISS reviewed substantial
information involving the Funds and interviewed both Yacktman and the
independent directors. After reading the ISS report, lead independent director
Stanislaw ("Stas") Maliszewski stated, "This report shows that, in the opinion
of an experienced, unbiased source, Yacktman has overstepped its bounds by
trying to remove the independent directors. When the heat got to be too much,
Don Yacktman wanted to change thermometers rather than admit he'd burned the
roast."

In its analysis of the proxy contest, ISS termed Yacktman's decision to
challenge the independent directors "inappropriate." It is the responsibility of
the independent directors to oversee the management of the Funds; to carry out
this responsibility, the independent directors were compelled to question
Yacktman about its performance and resources. ISS noted that the decline of fund
assets was not due to the actions of the independent directors, but were the
result of recent events--including the proxy contest launched by Yacktman.




Yacktman initiated the proxy contest in September--an action unprecedented in
mutual fund annals--when the independent directors refused its demand that they
resign. This demand followed intense questioning of Yacktman by the independent
directors about such issues as change in investment style, increased portfolio
risk, inadequacy of investment staff, and ethics violations, all culminating in
poor investment performance.