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AMERICAN GENERAL SERIES PORTFOLIO COMPANY
SUPPLEMENT ISSUED NOVEMBER 24, 1998
TO PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION
DATED OCTOBER 1, 1998
The following individuals were recently elected by the shareholders to
serve as directors of the Company:
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Dr. Judith L. Craven Physician, Administrator; President, United Way of Texas
3212 Ewing Street Gulf Coast (1992-1998); Director, A.H. Belo Corporation
Houston, Texas 77004 (1993-Present); Director, Sysco Corporation (1996-Present);
Date of Birth: 10/06/45 Director, Sisters of Charity of the Incarnate Word
(1996-Present).
Dr. Timothy J. Ebner Professor, Departments of Neurosurgery and Physiology,
17994 NW Union Street University of Minnesota (1991-Present). Formerly, Consultant
Elk River, Minnesota 55330 EMPI Inc. (1994-1995) and Medtronic Inc. (1997-1998).
Date of Birth: 07/15/49
Judge Gustavo E. Gonzales, Jr. Municipal Court Judge, Dallas, Texas; Director, Downtown
8320 Coolgreen Drive Dallas YMCA Board (1996-Present); Director, Dallas Easter
Dallas, Texas 75228 Seals Society (1997-Present).
Date of Birth: 07/27/40
Dr. John E. Maupin, Jr. President, Meharry Medical College, Nashville, Tennessee;
2 Morningside Court Nashville Advisory Board Member, First American National
Nashville, Tennessee 37215 Bank (1996- Present); Director, Monarch Dental Corporation
Date of Birth: 10/28/46 (1997-Present). Formerly, Executive Vice President,
Morehouse School of Medicine, Atlanta, Georgia (1989-1994).
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For the Social Awareness Fund only:
Effective immediately, Maruti D. More has assumed responsibility for the
portfolio management of the Social Awareness Fund. Mr. More has been Vice
President -- Investments of American General Series Portfolio Company since July
1998. Since April 1998, Mr. More serves as Vice President of The Variable
Annuity Life Insurance Company and American General Investment Management, L.P.
From 1993 to 1995, Mr. More was Managing Director, Marketable Securities at Paul
Revere Investment Management Corporation.
For the Capital Conservation Fund only:
Effective immediately, Craig A. Mitchell has assumed responsibility for the
portfolio management of the Capital Conservation Fund. Mr. Mitchell has been
Vice President and Senior Portfolio Manager of American General Investment
Management, L.P. since April 1998. Mr. Mitchell joined American General
Corporation in May 1995. From July 1992 to April 1995, Mr. Mitchell served as
Assistant Portfolio Manager and, subsequently, Portfolio Manager at Providian
Corporation.
For the Money Market Fund only:
The Board of Directors recently approved an amendment to the Money Market
Fund's non-fundamental investment restriction relating to maturity standards of
investments to include securities subject to demand features. The section in the
Prospectus entitled "Types of Investments" is supplemented as follows:
VARIABLE RATE DEMAND NOTES
Variable rate demand notes ("VRDNs") are either taxable or tax-exempt
obligations containing a floating or variable interest rate adjustment formula,
together with an unconditional right to demand payment of the unpaid principal
balance plus accrued interest upon a short notice period, generally not to
exceed seven days. The Money Market Fund may invest in participation VRDNs,
which provides the Fund with an undivided interest in underlying VRDNs held by
major investment banking institutions. Any purchase of VRDNs will meet
applicable diversification and concentration requirements, and the conditions
established by the SEC under which such securities may be considered to have
remaining maturities of 397 days or less.
VA 9017-B VER 11/98
