<PAGE> 1
Supplement dated
October 14, 1997
MONYCorporate Variable Universal Life Insurance
Supplement to Prospectus Dated May 1, 1997
On page 12, the fourth and fifth sentences of the second paragraph following
the caption "The Funds" are deleted and the following sentences are inserted:
As investment adviser to the MONY Series Fund, the Company receives a daily
investment advisory fee equivalent to an annual rate of 0.50 percent of the
first $400 million of the average daily net assets of each of the Intermediate
Term Bond, Long Term Bond and Government Securities Portfolios and 0.40 percent
of the first $400 million of the average daily net assets of the Money Market
Portfolio; 0.35 percent of the next $400 million of the average daily net
assets for each of the Portfolios; and 0.30 percent of the average daily net
assets of each of the Portfolios in excess of $800 million, as described in the
accompanying current prospectus for the MONY Series Fund. The Company, as
investment adviser, has agreed to bear all expenses associated with organizing
the Fund, the initial registration of its securities, and the compensation of
the Fund's directors, officers and employees who are interested persons of the
Company.
On pages 37-38, the table of Annual Expenses for the year ended December 31,
1996 is deleted and the following table is inserted:
PRO FORMA ANNUAL EXPENSES FOR THE YEAR ENDED
DECEMBER 31, 1996
<TABLE>
<CAPTION>
EXPENSES
MANAGEMENT (AFTER TOTAL
FUND/PORTFOLIO FEES REIMBURSEMENT) EXPENSE
-------------- ---- -------------- -------
<S> <C> <C> <C>
MONY Series Fund, Inc.
Intermediate Term Bond Portfolio .50%(1) .16%(2) .66%
Long Term Bond Portfolio .50(1) .13(2) .63
Government Securities Portfolio .50(1) .35(2) .85
Money Market Portfolio .40 .21(2) .61
Enterprise Accumulation Trust
Equity Portfolio .75 .06 .81(3)
Small Cap Portfolio .74 .10 .84(3)
Managed Portfolio .70 .04 .74(3)
International Growth Portfolio .85 .53 1.38(3)
High Yield Bond Portfolio .60 .25 .85(3)
Van Eck Trust(4)
Worldwide Bond Fund 1.00 .17 1.17
Worldwide Hard Assets Fund 1.00 .24 1.24
Worldwide Emerging Markets Fund 1.00 1.64 2.64
Dreyfus Variable Investment Fund
Capital Appreciation Portfolio .55 .29 .84
Small Company Stock Portfolio(5) .47 .28 .75
Dreyfus Stock Index Fund .245 .055 .30
</TABLE>
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(1) Expenses reflect the reallocation of the fees and expenses associated with
the computation of the net asset value of the Fund from MONY America to
the Fund which became effective on and after October 14, 1997. Expenses
also include custodial credit percentages as follows: Intermediate Term
Bond -- .0061%; Long Term Bond -- .0046%; Government Securities -- .0243%;
and Money Market -- .0049%, which expenses are borne by the Investment
Adviser pursuant to the Investment Advisory Agreement.
(2) Management Fees reflect investment advisory fees which became effective on
and after October 14, 1997. Prior thereto, the investment advisory fees
were .40%.
(3) Reflects expense reimbursements in effect on May 1, 1996. Absent these
expense reimbursements, expenses would have been as follows: Equity --
.81%; Small Cap -- .84%; Managed -- .74%; International Growth -- 1.38%;
and High Yield Bond -- .94%. The Equity, Small Cap, and Managed Portfolio
reimbursements relate to mutual fund accounting expense.
(4) Fees and expenses of the funds of the Van Eck Trust are for the eight
months ended December 31, 1996 and are annualized.
(5) Fees and expenses of the Small Company Stock Portfolio are for the eight
months ended December 31, 1996, are not annualized, and reflect waiver of
fees. Absent this waiver, total expenses would have been .94%.
On page 2 of the MONY Series Fund Prospectus, the first and second sentences of
the first paragraph following the caption "Investment Management Fees and
Expenses" are deleted and the following sentences are inserted:
MONY America's fee for its investment management services to the Intermediate
Term Bond, Long Term Bond, Government Securities, and Money Market Portfolios
of the Fund is a daily charge equal to an annual rate of 0.50 percent of the
first $400 million of the average daily net assets of each of the Intermediate
Term Bond, Long Term Bond and Government Securities Portfolios and 0.40 percent
of the first $400 million of the average daily net assets of the Money Market
Portfolio; 0.35 percent of the next $400 million of the average daily net
assets for each of the Fund's Portfolios; and 0.30 percent of the average daily
net assets of each of the Fund's Portfolios in excess of $800 million. MONY
America has agreed to bear all expenses associated with organizing the Fund,
the initial registration of its securities, and the compensation of the Fund's
directors, officers and employees who are interested persons of MONY America.
On page 14 of the MONY Series Fund Prospectus, the second, third and fourth
sentences of the second paragraph following the caption "Investment Management
Arrangements and Expenses" are deleted and the following sentences are
inserted:
The fee is a daily charge equal to an annual rate of 0.50 percent of the first
$400 million of the average daily net assets of each of the Intermediate Term
Bond, Long Term Bond and Government Securities Portfolios and 0.40 percent of
the first $400 million of the average daily net assets of the Money Market
Portfolio; 0.35 percent of the next $400 million of the average daily net
assets for each of the Fund's Portfolios; and 0.30 percent of the average daily
net assets of each of the Fund's Portfolios in excess of $800 million. MONY
America has agreed to bear all expenses (i) for the Fund's organization, (ii)
related to initial registration and qualification under federal and state
securities laws, and (iii) for compensation of the Fund's directors, officers
and employees who are interested persons (as defined by the 1940 Act) of MONY
America.
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On page 15 of the MONY Series Fund Prospectus, the first sentence of the sixth
paragraph following the caption "Investment Management Arrangements and
Expenses" is deleted and the following sentence is inserted:
The Investment Advisory Agreement was initially approved by the Fund's Board of
Directors, including a majority of the non-interested directors (as defined by
the 1940 Act), on January 2, 1985, and an amended Investment Advisory Agreement
was approved on August 4, 1997.
Form No. 14352SL (10/97) 333-06071
