<PAGE> 1
PORTFOLIO DIRECTOR
SEPARATE ACCOUNT A
SUPPLEMENT ISSUED NOVEMBER 18, 1997
TO PROSPECTUS DATED MAY 1, 1997
DREYFUS SMALL CAP PORTFOLIO SEPARATE ACCOUNT EXPENSES FOR PARTICIPANTS
The section of the Fee Table on page 4 that reflects Separate Account
Expenses and the related Examples on pages 4 and 5 are amended to include the
following information for the Dreyfus Small Cap Portfolio:
Fee Table
Separate Account Expenses
(as a percentage of Separate Account net assets):
<TABLE>
<CAPTION>
Mortality And Separate Account Total
Expense Risk Expense Separate
Fund Fee Reimbursement Account Fee
---- ------------- ---------------- -----------
<S> <C> <C> <C>
Dreyfus Small Cap Portfolio............. 1.25% (0.15%) 1.10%
</TABLE>
The Total Separate Account Fee equals the VALIC Separate Account A
Mortality and Expense Risk Fee reduced by the Separate Account Expense
Reimbursement. The Company's charges to this Division are reduced by an amount
equal to payments from Dreyfus Small Cap Portfolio or its affiliate for
administrative or shareholder services fees provided by the Company. The Dreyfus
Small Cap Portfolio and/or its affiliate pays a monthly administrative or
shareholder service fee to the Company of 0.15%.
DREYFUS SMALL CAP PORTFOLIO (DIVISION 18)
<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.......................... $19 $ 59 $102 $222
EXAMPLE #2
Assuming No Surrender at the End of the Period Shown... $20 $ 62 $106 $229
EXAMPLE #3
Assuming Surrender at the End of the Period Shown...... $66 $111 $156 $229
</TABLE>
VA9084-A
