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JUNE 15, 1999 SUPPLEMENT TO
PROSPECTUS DATED MAY 1, 1999
HIGH YIELD BOND TRUST
The cover page of the High Yield Bond Trust prospectus is amended as follows:
Fund shares are offered only to separate accounts of The Travelers Insurance
Company, The Travelers Life and Annuity Company or to separate accounts of
affiliated companies (together, "The Travelers"). The Fund serves as a funding
option for certain variable annuity and variable life insurance contracts
issued by The Travelers.
06/99
