<PAGE> 1
As Filed Pursuant to Rule 497
SEC File No. 333-65965
ANCHOR NATIONAL LIFE INSURANCE COMPANY
--------------------------------------------------------------------------------
VARIABLE ANNUITY ACCOUNT SEVEN
SUPPLEMENT TO THE POLARIS II A-CLASS VARIABLE ANNUITY PROSPECTUS
Dated July 5, 2000
--------------------------------------------------------------------------------
The following replaces the investment charges and corresponding examples
for the CAPITAL APPRECIATION PORTFOLIO (the "Portfolio") of the Anchor Series
Trust contained in the chart under the heading "Expenses" in the Profile:
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
Total Annual Total Annual Total Examples:
ANCHOR SERIES Insurance Investment Annual Total Expenses at Total Expenses at
TRUST PORTFOLIO Charges Charges Charges end of 1 YEAR end of 10 YEARS
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Capital Appreciation 0.85% 0.74% 1.59% $73 $234
------------------------------------------------------------------------------------------------------------------------
</TABLE>
The expenses for the Portfolio contained in the chart under the heading
"Portfolio Expenses" on page 4 of the Prospectus are amended as follows:
ANCHOR SERIES TRUST
PORTFOLIO MANAGEMENT OTHER TOTAL ANNUAL
FEE EXPENSES EXPENSES
--------------------------------------------------------------------------------
Capital Appreciation+ 0.70% 0.04% 0.74%
+The expenses noted here are restated to reflect an estimate of fees for
the Portfolio for the current fiscal year. On May 18, 2000, the Board of
Trustees of Anchor Series Trust (the "Trust") approved an increase in the
underlying management for the Portfolio for the most recent fiscal year
from 0.67% to 0.74%. On July 19, 2000, the shareholders of the Portfolio
also approved the increase. The fee increase is effective August 1, 2000.
Also, the Examples on page 5 of the Prospectus of the Portfolio are amended
as follows:
PORTFOLIO 1 YEAR 3 YEARS 5 YEARS 10 YEARS
-------------------------------------------------------------------------------
Capital Appreciation (a)$73 (a)$105 (a)$139 (a)$234
(b)$73 (b)$105 (b)$139 (b)$234
Date: August 1, 2000
PLEASE KEEP THIS SUPPLEMENT WITH YOUR PROSPECTUS.
