PANORAMA SERIES FUND, INC.
LifeSpan Capital Appreciation Portfolio
LifeSpan Balanced Portfolio
LifeSpan Diversified Income Portfolio
Supplement dated May 11, 2000 to the
Prospectus dated May 1, 2000
1. The Prospectus is changed by deleting the box captioned "International
Stock Component" on page 16 and replacing it with the following:
- ----------------------------------------------------------------------
International Stock Component
- ----------------------------------------------------------------------
- ----------------------------------------------------------------------
Year Became
Portfolio Manager Portfolio Manager Business Experience
- ----------------------------------------------------------------------
- ----------------------------------------------------------------------
Vice President of the Manager
and of Panorama Series Fund,
Inc.; an officer and
portfolio manager of other
Alan Gilston 2000 Oppenheimer funds; he has
been employed as a portfolio
manager by the Manager since
1997.
- ----------------------------------------------------------------------
May 11, 2000 PANPS.009
<PAGE>
PANORAMA SERIES FUND, INC.
Supplement dated May 11, 2000 to the
Statement of Additional Information dated May 1, 2000
The Statement of Additional Information is revised as follows:
1. The first sentence of the biography of George Evans on page 40 is deleted
and replaced with the following:
George Evans, Vice President and Portfolio Manager of International
Growth Fund/VA, Age: 40
Two World Trade Center, New York, NY 10048-0203
2. The first sentence of the biography of Alan Gilston on page 40 is deleted
and replaced with the following:
Alan Gilston, Vice President and Portfolio Manager of the Small Cap
stock component and the International stock component of LifeSpan
Capital Appreciation Portfolio and LifeSpan Balanced Portfolio, Age: 41
May 11, 2000 PANPX.010
