"The Annual Great Race Contest" is your chance to win a $500 U.S. savings bond and other prizes while you test your mettle as a financial forecaster.

Here's how the race is run.The Great Race has been tracking a hypothetical $1,000 investment since Jan. 1, 1988, in each of the following vehicles: an average over the counter stock; an average money market fund; an average mutual fund as determined by the Lipper Mutual Funds index; a 31/2-year certificate of deposit; a 90-day Treasury bill; gold; silver; a 30-year Treasury bond; and an average blue chip stock.

As of Oct. 7, 1988, our entire original portfolio of $9,000 was worth a total of $9,217.49.

To win.

(1) All entries must be postmarked by Nov. 1, 1988.

(2) The Meyers Report will continue to draw from all entries until we find the first 10 that are within $1 of the total investment portfolio as of Dec. 28, 1988.

(3) You may enter as often as you wish by sending your predictions to this newspaper.

Prizes.

First Place. The forecaster who comes closest to the grand total will walk away with a $500 U.S. savings bond.

Second Place. The next closest portfolio estimate will win a large Garfield doll.

Third Place. The next three forecasters will win Garfield dolls that can be affixed to your car window.

Honorable Mention. Five lucky forecasters will win Great Race T-shirts.