WRL SERIES FUND, INC.
GROWTH & INCOME PORTFOLIO
Supplement dated September 1, 1997 to Prospectus dated May 1,
1997, as Revised June 30, 1997
The following paragraphs replace the paragraph found on page 46, the right hand
column under the heading "SUB-ADVISERS - FEDERATED INVESTMENT COUNSELING":
Portfolio Managers:
Linda A. Duessel and Steven J. Lehman serve as Co-Portfolio Managers of the
Growth & Income Portfolio. Ms. Duessel has been a Portfolio Manager of the
Portfolio since July, 1996. Ms. Duessel is a Chartered Financial Analyst and
also serves as a co-portfolio manager for other funds managed by Federated. Ms.
Duessel received her B.S., Finance from the Wharton School of the University of
Pennsylvania and her M.S.I.A. from Carnegie Mellon University. Ms. Duessel has
been a Vice President of an affiliate of Federated since 1995, and was an
Assistant Vice President from 1991 - 1995.
Mr. Lehman has served as Co-Portfolio Manager since September, 1997. Mr. Lehman
joined Federated in May, 1997 as a Vice President. From 1985 to May, 1997, Mr.
Lehman served as a Portfolio Manager, then Vice President/Senior Portfolio
Manager, at First Chicago NBD Investment Management Company. Mr. Lehman is a
Chartered Financial Analyst; he received his M.A. from the University of
Chicago.
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