ANCHOR SERIES TRUST
Supplement to the Prospectus dated February 28, 1997
The third full paragraph on the back of the cover page
of the Prospectus is restated as follows:
The Target '98 Portfolio seeks a predictable compounded
investment return for the specified time period,
consistent with preservation of capital by investing
primarily in zero coupon maturities maturing November 15,
1998 and current interest-bearing, investment grade debt
obligations which are issued by the U.S. Government,
its agencies and instrumentalities, and both domestic
and foreign corporations. Effective January 1, 1998,
shares of the Portfolio are no longer available for
purchase, nor are any transfers into the Portfolio
permitted.
The last full sentence in the first paragraph under
the heading "Target '98 Portfolio"
Upon maturity, any remaining securities in the
Portfolio will be liquidated and the Portfolio's
sole holding will be cash. All shares of
the Portfolio will be exchanged for shares of
the Money Market Portfolio, unless otherwise specified
by a contract owner.
January 7, 1998
