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VAN KAMPEN AMERICAN CAPITAL
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION DATED AUGUST 4, 1997
Statement of Additional Information dated April 30, 1997, as previously
supplemented on July 21, 1997
VKAC U.S. Government Fund
Pursuant to the Fund's Statement of Additional Information, the Fund's Class A
shares may be purchased at net asset value under certain defined circumstances
by certain classes or groups of investors. In order to qualify, such investors
must provide assurance that the purchase is made only for investment purposes
and that the shares will not be resold except through redemption by the Fund. As
of August 4, 1997, item number seven, under the Section "Purchase of Shares --
Class A Shares -- Other Purchase Programs" shall be omitted from the list of NAV
Purchase Options and the remaining items shall be renumbered accordingly. As
stated in the Fund's Statement of Additional Information, the Fund reserves the
right to amend or terminate the terms of offering shares of the Fund at net
asset value at any time.
