AMERICAN GENERAL SERIES PORTFOLIO COMPANY
SUPPLEMENT DATED DECEMBER 19, 1999
TO PROSPECTUS DATED OCTOBER 1, 1999
All Funds
The "Investment Objective" section included
in the "Fact Sheet" should reflect that the
investment objective may be changed by the
Board of Directors without shareholder
approval.
Although the Series Company normally redeems
Fund shares for cash, the Series Company has
the right to pay separate accounts assets
other than cash for redemption amounts
exceeding, in any 90-day period, $250,000 or
1% of the net asset value of the affected
Fund, whichever is less.
The Series Company relies upon an exemptive
order from the SEC which permits VALIC,
subject to certain conditions, to select new
sub-advisers or replace existing sub-
advisers without first obtaining shareholder
approval for the change. The Board of
Directors, including a majority of the
"independent" Directors, must approve each
new sub-advisory agreement. This allows
VALIC to act more quickly to change sub-
advisers when it determines that a change is
beneficial to shareholders by avoiding the
delay of calling and holding shareholder
meetings to approve each change. In
accordance with the exemptive order, the
Series Company will provide investors with
information about each new sub-adviser and
its sub-advisory agreement within 90 days of
the hiring of a new sub-adviser. VALIC is
responsible for selecting, monitoring,
evaluating and allocating assets to the Sub-
advisers and oversees the Sub-advisers'
compliance with the relevant Fund's
investment objective, policies and
restrictions.
Social Awareness Fund
The following replaces the second paragraph
of the section entitled "Investment
Objective" in the Fund's "Fact Sheet."
The Fund does not invest in companies
that are significantly engaged in:
* the production of nuclear energy:
* the manufacture of military weapons or
delivery systems;
* the manufacture of alcoholic beverages
or tobacco products;
* the operation of gambling casinos; or
* business practices or the production of
products that significantly pollute the
environment.
VA 9017-A
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AMERICAN GENERAL SERIES PORTFOLIO COMPANY
SUPPLEMENT DATED DECEMBER 19, 1999 TO
STATEMENT OF ADDITIONAL INFORMATION DATED
OCTOBER 1, 1999
Growth Fund Only
The Fund has made certain changes to its
investment restrictions. The following
replaces the second paragraph of the section
entitled "Investment Restrictions - GF and
STF Investment Restrictions:"
Purchase the securities of any
issuer if, as a result, more than
25% of the value of the Funds'
total assets would be invested in
the securities of issuers having
their principal business
activities in the same industry.
All Funds
The following replaces the next to last
paragraph of the section entitled
"Investment Practices - Financial Futures
Contracts:"
A Fund, as an internal operating
policy may not hold financial
futures contracts in an amount
greater than 33% of the Fund's net
assets. A Fund may not adhere to
this internal operating policy in
circumstances where the Fund is
required to invest a large cash
infusion.
The following replaces the third paragraph
of the section entitled "Determination of
Net Asset Value:"
Publicly-traded corporate bonds
are valued at prices obtained from
representative pricing services
such as Merrill Lynch Pierce
Fenner & Smith Inc. or Interactive
Data Corporation.
VA 9017-1A
