American General Series Portfolio Company 2
Supplement dated March 6, 2000
To the Prospectus dated March 1, 2000
Dear Investor:
American General Corporation has
acquired the assets of CypressTree
Investments, Inc., its investment advisor,
CypressTree Asset Management Corporation,
Inc. and CypressTree Funds Distributors,
Inc., its distributor. CypressTree Asset
Management Corporation, Inc. is the
investment advisor to the North American
Funds, headquartered in Boston,
Massachusetts.
North American Funds include several
mutual funds that are compatible with the
American General Fund Group. Therefore, we
believe that combining comparable funds
should achieve economies of scale and may
reduce overall fund expenses. Accordingly,
in late Spring, 2000, we will be mailing
proxy materials to American General Series
Portfolio Company 2 shareholders, proposing
mergers between similar funds and/or the
reorganization of certain funds into
identical North American Funds. The
shareholder meetings are expected to be held
in late June. If approved by the
shareholders, the mergers and/or
reorganizations would become effective in
July.
The result of this proposed
restructuring would be that North American
Funds will offer approximately 25 mutual
funds, representing a variety of investment
objectives and strategies. We look forward
to communicating with you in the future
regarding the restructuring, and urge you to
contact your retirement planning specialist
if you have any questions or concerns.
Thank you for investing with American
General.
Sincerely,
American General Fund Group
