VARIABLE ANNUITY LIFE INSURANCE CO SEPARATE ACCOUNT A
497, 1997-07-01
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<PAGE>   1
 
                              PORTFOLIO DIRECTOR 2
                               SEPARATE ACCOUNT A
                              FOR SERIES 2.1-2.11
 
                         SUPPLEMENT ISSUED JULY 1, 1997
                        TO PROSPECTUS DATED MAY 1, 1997
 
   SCUDDER GROWTH AND INCOME FUND 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 5 and 6 are amended to include the following
information for the Scudder Growth and Income 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>
Scudder Growth and Income(3)                   1.25%               (0.25%)                1.00%
</TABLE>
 
(3) The Scudder Growth and Income Fund and/or its affiliate pays administrative,
    shareholder service or distribution fees to the Company of 0.25%.
 
                       SCUDDER GROWTH AND INCOME (DIVISION 21)
 
<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:    $18           $ 56           $ 97            $210
 
EXAMPLE #2
Assuming No Surrender at the End of the
  Period Shown:                                $19           $ 58           $100            $218
 
EXAMPLE #3
Assuming Surrender at the End of the Period
  Shown:                                       $65           $108           $150            $218
</TABLE>
 
VA9875-A


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