Prospectus Supplement December 23, 1999*
Variable Universal Life Policy (April 30, 1999) S-6189 C (6/99)
The AXP(SM) Variable Portfolio -- New Dimensions Fund (formerly known as IDS
Life Growth Dimensions Fund) has been added as an investment option under your
policy. Please modify or add the following language to the appropriate sections
of your Variable Universal Life Policy Prospectus:
"Table of contents"
Please add "AXP(SM) Variable Portfolio - New Dimensions Fund" to the funds
listed under the "The funds" in this section.
"The policy in brief"
Under "Purpose," please replace the existing paragraph with the following:
The variable account, consisting of subaccounts, each of which invests in a fund
with a particular investment objective. You may direct premiums to any or all of
the 14 of these subaccounts. Your policy's value may increase or decrease daily,
depending on the investment return. No minimum amount is guaranteed.
"The funds"
Please add the following to this section:
AXP(SM) Variable Portfolio - Investment Series, Inc. (formerly known as IDS Life
Investment Series, Inc.,) is a diversified, open-ended management investment
company, which was incorporated in Nevada on April 27, 1981 but changed its
state of incorporation to Minnesota on June 13, 1986. AXP(SM) Variable Portfolio
- - New Dimensions Fund was added on April 30, 1996. IDS Life acts as the
investment manager and American Express Financial Corporation acts as the
investment advisor of the AXP(SM) Variable Portfolio - New Dimensions Fund.
American Express Trust Company acts as the custodian and Bank of New York acts
as the sub-custodian.
AXP(SM) VP - New Dimensions Fund
Objective: to provide shareholders with long-term growth of capital. Invests in
common stocks showing potential for significant growth. These companies often
operate in areas where dynamic economic and technological changes are occurring.
Up to 30% of total net assets may be invested in foreign investments.
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"Rates of return of the funds and subaccounts"
Rates of return of the funds:
Period ending 12/31/98
Please add the following to the table in this section:
1 year since inception
AXP(SM) Variable Portfolio - Investment Series, Inc.
AXP(SM) VP New Dimensions (5/96)** 28.64% 24.29%
Rate of returns of the subaccounts:
Please add the following to the table in this section:
Subaccount Investing in: 1 year since inception
AXP(SM) Variable Portfolio - Investment Series, Inc.
FND AXP(SM) VP New Dimensions (11/99)* --% --%**
**The subaccount had not commenced operations as of Dec. 31, 1998.
"Fund expenses"
Annual operating expenses of the funds (as a percentage of average daily net
assets):
Please add the following to the table in this section:
AXP(SM) VP New Dimensions Fund
Management fees 0.61%
12b-1 fees 0.13%
Other Expenses 0.06%
Total Expenses 0.80%
S-6189-1A (12/99)
*Destroy May 1, 2000
