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VAN KAMPEN AMERICAN CAPITAL
SUPPLEMENT DATED JANUARY 2, 1998 TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED SEPTEMBER 28, 1997
VKAC GLOBAL EQUITY FUND
STATEMENT OF ADDITIONAL INFORMATION DATED OCTOBER 28, 1997
VKAC PACE FUND
The Distributor has entered into agreements with (i) Smith Barney Inc.
("Smith Barney") under which the Fund shall be offered pursuant to the
MultiChoice Program and (ii) Merrill Lynch ("Merrill") under which the Fund
shall be offered pursuant to the Merrill Program. Trustees and other fiduciaries
of retirement plans seeking to invest in multiple fund families through
broker-dealer retirement plan alliance programs should contact Smith Barney or
Merrill for further information concerning the MultiChoice and Merrill Programs
including, but not limited to, minimum size and operational requirements.