<PAGE> 1
As Filed Pursuant to Rule 497
SEC File No. 33-47473
ANCHOR NATIONAL LIFE INSURANCE COMPANY
--------------------------------------------------------------------------------
VARIABLE SEPARATE ACCOUNT
SUPPLEMENT TO THE POLARIS VARIABLE ANNUITY PROSPECTUS
Dated May 1, 2000
--------------------------------------------------------------------------------
The following replaces the investment charges and corresponding examples
for the CAPITAL APPRECIATION PORTFOLIO (the "Portfolio") of the Anchor Series
Trust contained in the chart under the heading "Expenses" in the Profile:
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
Total Annual Total Annual Total Examples:
ANCHOR SERIES Insurance Investment Annual Total Expenses at Total Expenses at
TRUST PORTFOLIO Charges Charges Charges end of 1 YEAR end of 10 YEARS
---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Capital Appreciation 1.61% 0.74% 2.35% $93 $265
---------------------------------------------------------------------------------------------------------------------------
</TABLE>
The following replaces the expenses for the Portfolio contained in the
chart under the heading "Portfolio Expenses" on page 4 of the Prospectus:
ANCHOR SERIES TRUST
PORTFOLIO MANAGEMENT OTHER TOTAL ANNUAL
FEE EXPENSES EXPENSES
-------------------------------------------------------------------------------
Capital Appreciation+ 0.70% 0.04% 0.74%
+ On May 18, 2000, the Board of Trustees of Anchor Series Trust (the
"Trust") approved an increase in the underlying management fees for the
Portfolio for the most recent fiscal year from 0.67% to 0.74%. On July 19,
2000, the shareholders of the Portfolio also approved the increase. The fee
increase is effective August 1, 2000. The expenses noted here are restated
to reflect an estimate of fees of the Portfolio for the current fiscal
year.
Also, the Examples on page 5 of the Prospectus for the Portfolio are
amended as follows:
PORTFOLIO 1 YEAR 3 YEARS 5 YEARS 10 YEARS
-------------------------------------------------------------------------------
Capital Appreciation (a)$93 (a)$122 (a)$154 (a)$265
(b)$23 (b)$ 72 (b)$124 (b)$265
Date: August 1, 2000
PLEASE KEEP THIS SUPPLEMENT WITH YOUR PROSPECTUS.
