Seasons Series Trust
Supplement to the Prospectus dated February 1, 1999
The fourth paragraph on page 8 of the Prospectus is hereby
deleted and replaced with the following:
Each Multi-Managed Seasons and Multi-Managed Seasons Select
Portfolio (except for the Diversified Fixed Income
Portfolio) is non-diversified, which means that each can
invest a larger portion of its assets in the stock of a
single company than can some other mutual funds. By
concentrating in a smaller number of stocks, a Portfolio's
risk is increased because the effect of each stock on the
Portfolio's performance is greater.
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In the chart on page 16 of the Prospectus entitled "Seasons
Select Portfolios", under the heading "Diversified Fixed
Income Portfolio", the bullet point for "non-
diversification" corresponding to the question "What are the
Portfolio's principal risks?" is hereby deleted.
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The following supplements the information concerning Bankers
Trust Company on page 29 of the Prospectus:
Bankers Trust Company ("BT") serves as one of the Managers
for each of the Large-Cap Growth, Large-Cap Composite,
Large-Cap Value, Mid-Cap Growth, Mid-Cap Value, Small-Cap,
International Equity and Diversified Fixed Income Portfolios
(collectively, the "Portfolios") of Seasons Series Trust
(the "Trust"). On November 30, 1998, Bankers Trust
Corporation, the parent company of BT, entered into an
Agreement and Plan of Merger with Deutsche Bank A.G. whereby
Bankers Trust Corporation and all of its subsidiaries,
including BT, will merge with and into a subsidiary of
Deutsche Bank A.G. Deutsche Bank A.G. is a major global
banking institution that is engaged in a wide range of
financial services, including retail and commercial banking,
investment banking and insurance. The closing of the merger
is expected to occur sometime during 1999 and is contingent
upon various regulatory, shareholder and board approvals.
DATED: March 3,1999
