<PAGE>
SUPPLEMENT TO THE PROSPECTUS OF
DEAN WITTER VARIABLE INVESTMENT SERIES DATED APRIL 21, 1995
The seventh sentence of the subsection entitled "General Portfolio
Techniques -- Foreign Securities" in the section of the Prospectus entitled
"Investment Objectives and Policies," appearing on page 29 of the Prospectus, is
hereby replaced by the following:
The Utilities Portfolio may invest up to 20% of the value of its
total assets, at the time of purchase, in securities issued by foreign
issuers, with a maximum of 10% of the value of its total assets, at the
time of purchase, invested in such securities that are not American
Depository Receipts.
October 26, 1995
