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VAN KAMPEN AMERICAN CAPITAL
LIFE INVESTMENT TRUST
SUPPLEMENT DATED FEBRUARY 11, 1997, TO THE PROSPECTUS DATED MARCH 6, 1996,
AS PREVIOUSLY SUPPLEMENTED ON JULY 1, 1996, NOVEMBER 1, 1996
AND JANUARY 2, 1997 (FOR THE REAL ESTATE SECURITIES PORTFOLIO ONLY)
The Fund's investment adviser, Van Kampen American Capital Asset Management,
Inc., is an indirect subsidiary of Morgan Stanley Group Inc. On February 5,
1997, Morgan Stanley Group Inc. and Dean Witter, Discover & Co. announced that
they had entered into an Agreement and Plan of Merger to form Morgan Stanley,
Dean Witter, Discover & Co. Subject to certain conditions being met, it is
currently anticipated that the transaction will close in mid-1997. Thereafter,
Van Kampen American Capital Asset Management, Inc. will be an indirect
subsidiary of Morgan Stanley, Dean Witter, Discover & Co.
Dean Witter, Discover & Co. is a financial services company with three major
businesses: full service brokerage, credit services and asset management of more
than $100 billion in customer accounts.
