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SUPPLEMENT TO THE PROSPECTUS OF
MORGAN STANLEY DEAN WITTER VARIABLE INVESTMENT SERIES
DATED NOVEMBER 2, 1998
The sentences in the tenth paragraph under the heading "The Fund and its
Management" appearing on page 15 of the Prospectus pertaining to the CAPITAL
APPRECIATION PORTFOLIO are hereby amended as follows:
The CAPITAL APPRECIATION PORTFOLIO commenced operations on
January 21, 1997. The Investment Manager had previously undertaken to
assume all expenses of the CAPITAL APPRECIATION PORTFOLIO (except for
any brokerage fees) and to waive the compensation provided for the
Portfolio in its Management Agreement with the Fund until the earlier
of December 31, 1998 or the date on which the Portfolio attained $50
million of net assets. The Investment Manager has now undertaken to
continue to assume all such expenses and waive such compensation in
respect of the CAPITAL APPRECIATION PORTFOLIO until April 30, 1999.
December 21, 1998
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