<PAGE> 1
PORTFOLIO DIRECTOR
SEPARATE ACCOUNT A
SUPPLEMENT ISSUED JUNE 2, 1998
TO PROSPECTUS DATED MAY 1, 1998
AGSPC SOCIAL AWARENESS FUND SEPARATE ACCOUNT EXPENSES FOR PARTICIPANTS
The section of the Fee Table on page 5 that reflects Separate Account Expenses
is amended to include the following information for the AGSPC Social Awareness
Fund:
FEE TABLE
Separate Account Expenses
(as a percentage of Separate Account net assets):
<TABLE>
<CAPTION>
Mortality Administration Separate Account
And Expense and Expense Total Separate
Fund Risk Fee (3) Distribution Fee (3) Reimbursement Account Fee
---- -------------- -------------------- ----------------- -------------
<S> <C> <C> <C> <C>
AGSPC Social
Awareness 0.25% 0.75% --- 1.00%
</TABLE>
(3) Reductions in the mortality and expense risk fee or administration and
distribution fee may be available for plan types meeting certain
criteria. See "Reduction or Waiver of Account Maintenance Fee,
Surrender, Mortality and Expense Risk Fee or Administration and
Distribution Fee Charges" in this prospectus.
