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PLEASE PLACE THIS DOCUMENT WITH YOUR
VARIABLE CONTRACT AND MONY SERIES FUND PROSPECTUSES
SUPPLEMENT DATED SEPTEMBER 12, 1997
THE FOLLOWING INFORMATION SUPPLEMENTS AND SUPERSEDES ANY CONTRARY
INFORMATION IN THE SECTION OF THE PROSPECTUS ENTITLED "MANAGEMENT OF THE FUND".
Subject to shareholder approval at the Special Meeting of Shareholders to
be held on October 14, 1997, the management fee of the Equity Growth, Equity
Income, Diversified, Intermediate Term Bond, Long Term Bond, and Government
Securities Portfolios will be increased from .40% of the aggregate average daily
net assets of all the MONY Series Fund's Portfolios to .50% of the average daily
net assets of the particular Portfolio. The management fee of the Money Market
Portfolio will be calculated based on the average daily net assets of the Money
Market Portfolio rather than the aggregate average daily net assets of all the
MONY Series Fund's Portfolios.
In addition, under the new Investment Advisory Agreement, the fees and
expenses associated with the computation of the net asset value of the Fund's
capital stock attributable to all the MONY Series Fund's Portfolios will be
reallocated from MONY Life Insurance Company of America to the MONY Series Fund.
September 12, 1997
