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THE HUDSON RIVER TRUST
Principal Office Located at
1345 Avenue of the Americas -- New York, New York 10105
Supplement Dated January 29, 1999 to
Prospectus Dated May 1, 1998
Effective July 1998, Sandra L. Yeager is the person principally responsible for
the Alliance Global Portfolio's investment program. Effective January 1999, Ms.
Yeager is also the person principally responsible for the Alliance
International Portfolio's investment program. Ms. Yeager, a Senior Vice
President of Alliance Capital Management L.P. ("Alliance"), has been associated
with Alliance since 1990.
Effective January 1999, Mark J. Cunneen is the person principally responsible
for the Alliance Small Cap Growth Portfolio's investment program. Mr. Cunneen,
a Senior Vice President of Alliance, has been associated with Alliance since
January 1999. Prior to joining Alliance, Mr. Cunneen had been associated with
INVESCO since May 1998, and before that with Chancellor LGT Asset Management,
Inc. ("Chancellor") since 1992. Mr. Cunneen had been the head of Chancellor's
Small Cap Equity Group since 1997.
Effective January 1999, Jeffrey S. Phlegar is the person principally
responsible for the Alliance Intermediate Government Securities Portfolio's
investment program. Mr. Phlegar, a Senior Vice President of Alliance, has been
associated with Alliance since 1988.
THIS SUPPLEMENT SHOULD BE RETAINED WITH THE
PROSPECTUS FOR FUTURE REFERENCE.
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