MORGAN STANLEY DEAN WITTER VARIABLE INVESTMENT SERIES, 497, 1999-03-22

MORGAN STANLEY DEAN WITTER VARIABLE INVESTMENT SERIES
497, 1999-03-22

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                        SUPPLEMENT TO THE PROSPECTUS OF
             MORGAN STANLEY DEAN WITTER VARIABLE INVESTMENT SERIES
                             Dated November 2, 1998
 
Following the receipt of shareholder and regulatory approvals, the assets of the
CAPITAL APPRECIATION PORTFOLIO of Morgan Stanley Dean Witter Variable Investment
Series (the "Fund") have been combined with those of the EQUITY PORTFOLIO of the
Fund, and the CAPITAL APPRECIATION PORTFOLIO is no longer available as an
investment option. Accordingly, all references in the Prospectus pertaining to
the CAPITAL APPRECIATION PORTFOLIO are hereby deleted.
 
March 22, 1999
 
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