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HIGH YIELD BOND TRUST
SUPPLEMENT TO MAY 1, 1996 PROSPECTUS
The following replaces information found on page 7 of the prospectus:
PORTFOLIO MANAGER
The Portfolio Manager for the High Yield Bond Trust is F. Denney Voss, who
joined the Company in 1980. Mr. Voss is a Senior Vice President of the Company
and a Vice President of TAMIC and has served as the Fund's portfolio manager
since March 1996. Mr. Voss has also managed TAMIC's Quality Bond Account for
Variable Annuities and American Odyssey Intermediate-Term Bond Fund since March
1995. Additionally, he has been responsible for managing the Company's
portfolios backing general account insurance products since August 1994. Prior
to transfering to the Travelers Securities Departmant in 1994, Mr. Voss
performed various sales and trading functions for Smith Barney Inc., a
subsidiary of Travelers Group Inc.
L-11173A 5/96
