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                                                                 Rule 424(b)(3)
                                                             Reg. No. 333-46055

                                BROOKE GROUP LTD.

                     SUPPLEMENT NO. 5 DATED AUGUST 18, 1998
                        TO PROSPECTUS DATED MAY 29, 1998

                  The Prospectus of Brooke Group Ltd. (the "Company") dated May
29, 1998 relating to the Company's common stock, $.10 par value per share (the
"Common Stock"), is hereby supplemented as follows:

                              SELLING STOCKHOLDERS

                  The table set forth on pages 52 to 59 of the Prospectus is
supplemented to include information concerning the following additional Selling
Stockholders.

NO. OF SHARES SHARES OF COMMON SHARES OF OF COMMON STOCK OWNED PRIOR COMMON STOCK STOCK OWNED SELLING STOCKHOLDERS TO OFFERING BEING OFFERED AFTER OFFERING(1) -------------------- ----------------- ------------- ----------------- APSC Partnership 1 1 0 Antman, Avery 34 34 0 Drechsler, Carol 34 34 0 Elkman, Steven M. 666 666 0 Frymer, William 90 90 0 Graber, Harry and Cherie 67 67 0 Guerra, Rose Ann and Henry 17 17 0 Gummo, Barbara M. 84 84 0 Juliano, Andrew M. 34 34 0 Juliano, Andrew M. C/F Theresa Juliano 17 17 0 Mikheeva, Irina 17 17 0 Penwick Ltd. 333 333 0 Pope, Frank 34 34 0 Ratkowski, David and Mary 34 34 0 Sirangelo, Peter 17 17 0 Sirangelo, Vincent 84 84 0 Spatafora, Maureen 100 100 0 Waks, Susan 17 17 0 Waks, Susan, IRA 17 17 0
- -------- (1) The calculation of the number of shares of the Company's common stock owned after the offering assumes the sale of all shares offered hereby.