AMERICAN GENERAL SERIES PORTFOLIO COMPANY
SUPPLEMENT DATED FEBRUARY 1, 2000
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.
Delete the third and fourth paragraphs on
page 35 under "Investment Adviser." Add
Capital Conservation Fund, Asset Allocation
Fund, and Government Securities Fund to the
list of funds in the first sentence of the
fifth paragraph.
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-B
