<PAGE> 1
As filed pursuant to Rule 424(B)3 under the Securities Act of 1933
Registration No. 33-87864
ANCHOR NATIONAL LIFE INSURANCE COMPANY
--------------------------------------------------------------------------------
VARIABLE SEPARATE ACCOUNT
(PORTION RELATING TO THE POLARIS VARIABLE ANNUITY)
SUPPLEMENT TO THE POLARIS PROSPECTUS
DATED MAY 1, 2000
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Effective July 5, 2000, the name of the Utility Portfolio managed by Federated
Investment Counseling was changed to the Telecom Utility Portfolio. The name
change will not result in any modifications to the portfolio's principal
investment goal or fundamental investment policies. All references in the
Prospectus and the Statement of Additional Information to the Utility Portfolio
shall be changed to the Telecom Utility Portfolio.
Effective July 5, 2000, four new Funds are available for investment in
connection with the Polaris Variable Annuity contracts. All references in the
Prospectus and the Statement of Additional Information to the number of
investment options available under the contract shall read 38, 31 Variable
Portfolios and 7 fixed Account Options.
The following new Variable Portfolios will be available as of July 5, 2000:
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------
FUND NAME FUND MANAGER
----------------------------------------------------------------------------------------------------------
<S> <C>
Goldman Sachs Research Portfolio Goldman Sachs Asset Management
Blue Chip Growth Portfolio SunAmerica Asset Management Corp.
Growth Opportunities Portfolio SunAmerica Asset Management Corp.
Technology Portfolio Morgan Stanley Asset Management Inc.
----------------------------------------------------------------------------------------------------------
</TABLE>
Page 3 of the Profile under the heading "Expenses" is supplemented as follows:
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
EXAMPLES:
TOTAL TOTAL
TOTAL ANNUAL TOTAL ANNUAL TOTAL EXPENSES AT EXPENSES AT
INSURANCE INVESTMENT ANNUAL END OF END OF
SUNAMERICA SERIES TRUST PORTFOLIO CHARGES CHARGES CHARGES 1 YEAR 10 YEARS
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Goldman Sachs Research+ 1.52% 1.35% 2.87% $30 $324
Blue Chip Growth+ 1.52% .85% 2.37% $25 $276
Growth Opportunities+ 1.52% 1.00% 2.52% $26 $291
Technology+ 1.52% 1.55% 3.07% $32 $343
--------------------------------------------------------------------------------------------------------------------
</TABLE>
+ This portfolio was not available for sale during the fiscal year ended January
31, 2000. The data presented is based on estimated amounts for the current
fiscal year.
The following supplements the performance data under the heading entitled
"Performance" on page 4 of the Profile:
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
SUNAMERICA SERIES TRUST PORTFOLIO 1999 1998 1997 1996 1995 1994
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Goldman Sachs Research* N/A N/A N/A N/A N/A N/A
Blue Chip Growth* N/A N/A N/A N/A N/A N/A
Growth Opportunities* N/A N/A N/A N/A N/A N/A
Technology* N/A N/A N/A N/A N/A N/A
------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Not available for sale until July 5, 2000.
<PAGE> 2
The following amends the information under the heading entitled "PORTFOLIO
EXPENSES" on page 4 of the Prospectus:
--------------------------------------------------------------------------------
SUNAMERICA SERIES TRUST
(AN ESTIMATE OF PERCENTAGE OF AVERAGE NET ASSETS AFTER REIMBURSEMENT OR WAIVER
OF EXPENSES)
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------
MANAGEMENT OTHER
PORTFOLIO FEE EXPENSES TOTAL ANNUAL EXPENSES
----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Goldman Sachs Research+ 1.20% .15% 1.35%
Blue Chip Growth+ .70% .15% .85%
Growth Opportunities+ .75% .25% 1.00%
Technology+ 1.20% .35% 1.55%
----------------------------------------------------------------------------------------------------------------
</TABLE>
The following information amends the "EXAMPLES" on page 5 of the Prospectus:
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
PORTFOLIO 1 YEAR 3 YEARS 5 YEARS 10 YEARS
--------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Goldman Sachs Research+ (a) 100 (a) 141 (a) 184 (a) 324
(b) 30 (b) 91 (b) 154 (b) 324
Blue Chip Growth+ (a) 95 (a) 126 (a) 159 (a) 276
(b) 25 (b) 76 (b) 129 (b) 276
Growth Opportunities+ (a) 96 (a) 130 (a) 167 (a) 291
(b) 26 (b) 80 (b) 137 (b) 291
Technology+ (a) 102 (a) 146 (a) 194 (a) 343
(b) 32 (b) 96 (b) 164 (b) 343
--------------------------------------------------------------------------------------------------------------------
</TABLE>
+ This portfolio was not available for sale during the fiscal year ended January
31, 2000. The data presented is based on estimated amounts for the current
fiscal year.
The following information amends the financial information under the heading
entitled "APPENDIX A - CONDENSED FINANCIAL INFORMATION" on page A-2 of the
Prospectus:
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------
FISCAL FISCAL FISCAL FISCAL FISCAL FISCAL
YEAR YEAR YEAR YEAR YEAR YEAR 11/30/99 -
PORTFOLIO 11/30/94 11/30/95 11/30/96 11/20/97 11/30/98 11/30/99 12/31/99
-------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Goldman Sachs Research*
Beginning AUV
Ending AUV
Ending Number of AUs N/A N/A N/A N/A N/A N/A N/A
-------------------------------------------------------------------------------------------------------------------------
Blue Chip Growth*
Beginning AUV
Ending AUV
Ending Number of AUs N/A N/A N/A N/A N/A N/A N/A
-------------------------------------------------------------------------------------------------------------------------
Growth Opportunities*
Beginning AUV
Ending AUV
Ending Number of AUs N/A N/A N/A N/A N/A N/A N/A
-------------------------------------------------------------------------------------------------------------------------
Technology*
Beginning AUV
Ending AUV
Ending Number of AUs N/A N/A N/A N/A N/A N/A N/A
-------------------------------------------------------------------------------------------------------------------------
</TABLE>
* Not available for sale until July 5, 2000.
Date: July 5, 2000
PLEASE KEEP THIS SUPPLEMENT WITH YOUR PROSPECTUS.
2
