<PAGE> 1
PORTFOLIO DIRECTOR 2
SEPARATE ACCOUNT A
FOR SERIES 2.1 - 2.11
SUPPLEMENT ISSUED DECEMBER 8, 1997
TO PROSPECTUS DATED MAY 1, 1997
AMERICAN CENTURY -- TWENTIETH CENTURY ULTRA FUND
SEPARATE ACCOUNT EXPENSES FOR PARTICIPANTS
The section of the Fee Table on page 4 that reflects Separate Account Expense
Reimbursement and the related Examples on pages 5 and 6 are amended to include
the following information for the American Century -- Twentieth Century Ultra
Fund:
FEE TABLE
Separate Account Expenses
(as a percentage of Separate Account net assets):
<TABLE>
<CAPTION>
Mortality Separate Account Total
and Expense Expense Separate
Fund Risk Charge Reimbursement Account Fee
---- ----------- ---------------- -----------
<S> <C> <C> <C>
American Century -- Twentieth
Century Ultra (3) 1.25% (0.21%) 1.04%
</TABLE>
(3) The American Century -- Twentieth Century Ultra Fund and/or its affiliate
pays administrative, shareholder service or distribution fees to the Company
of 0.20% on assets in excess of $0 but less than $75 million, and 0.25% on
assets in excess of $75 million.
AMERICAN CENTURY -- TWENTIETH CENTURY ULTRA FUND (DIVISION 31)
<TABLE>
<CAPTION>
1 Year 3 Years 5 Years 10 Years
------ ------- ------- --------
<S> <C> <C> <C> <C>
EXAMPLE #1
Assuming No Account Maintenance Fee and No
Surrender at the End of the Period Shown: $21 $64 $110 $237
EXAMPLE #2
Assuming No Surrender at the End of the Period
Shown: $21 $66 $114 $245
EXAMPLE #3
Assuming Surrender at the End of the Period
Shown: $68 $115 $164 $245
</TABLE>
VA9875-B
