RYDEX ADVISOR VARIABLE ANNUITY ACCOUNT

                        Supplement Dated May 1, 1999 to
                          Prospectus Dated May 1, 1999


     In the state of California,  our name is Great American  Reserve  Insurance
Company.  Our name will  remain  Great  American  Reserve  Insurance  Company in
California  until our name change is approved by the  California  Department  of
Insurance.

     In the state of Mississippi,  our name is Great American Reserve  Insurance
Company.  Our name will  remain  Great  American  Reserve  Insurance  Company in
Mississippi  until our name change is approved by the Mississippi  Department of
Insurance.



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