<PAGE>
SunAmerica Style Select Series, Inc.(R)
Supplement to the Prospectus dated February 28, 2000
Effective May 1, 2000, Montag & Caldwell, Inc. ("Montag & Caldwell") no
longer serves as an adviser for a portion of the assets of the Large-Cap Growth
Portfolio. SunAmerica Asset Management Corp. ("SunAmerica") has assumed advisory
responsibilities for the component. All references to Montag & Caldwell with
respect to the Large-Cap Growth Portfolio on pages 39 and 40 of the Prospectus
are no longer applicable.
References to Montag & Caldwell under the heading "STYLE-BASED
PORTFOLIOS" on page 42 of the Prospectus are replaced with the following:
<TABLE>
<CAPTION>
Name, Title and Affiliation of
Portfolio Portfolio Manager Experience
- --------- ------------------------------ ----------
<S> <C> <C>
Large-Cap Growth Portfolio Francis Gannon Mr. Gannon has been a Senior
Portfolio Manager Vice President of SunAmerica
(SunAmerica) since October 1999 and
Portfolio Manager with the firm
since 1996. He joined
SunAmerica as an equity
analyst in 1993.
</TABLE>
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Under the section entitled "BUYING SHARES - Adding to an account" on
page 27 of the Prospectus, the fourth paragraph should be supplemented with the
following:
Deliver the check and your stub or note to your broker or financial
advisor, or mail them to:
Non-Retirement Accounts:
SunAmerica Fund Services, Inc.
c/o NFDS
P.O. Box 219373
Kansas City, Missouri 64121-9373
Retirement Accounts:
SunAmerica Fund Services, Inc.
Mutual Fund Operations, 3rd Floor
The SunAmerica Center
733 Third Avenue
New York, New York 10017-3204
Dated: May 1, 2000
