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VAN KAMPEN LIFE INVESTMENT TRUST --
ASSET ALLOCATION PORTFOLIO
SUPPLEMENT DATED AUGUST 19, 1999
TO THE
PROSPECTUS DATED APRIL 30, 1999
The paragraph under the section of the Prospectus entitled "INVESTMENT
ADVISORY SERVICES -- PORTFOLIO MANAGEMENT" relating to the Asset Allocation
Portfolio is hereby deleted in its entirety and replaced with the following:
The Asset Allocation Portfolio is managed by a management team headed by
John Cunniff, Senior Portfolio Manager. Mr. Cunniff is responsible for
allocating the Portfolio's assets between the equity and fixed-income
categories. Mr. Cunniff has been affiliated with the Portfolio since March 1996.
Mr. Cunniff has been a Vice President and Director of Equity Research with the
Adviser since October 1995. Prior to October 1995, Mr. Cunniff was a portfolio
manager with Templeton Quantitative Advisors, a subsidiary of the Franklin
Group. Tom Copper and Raj Wagle are Portfolio Managers responsible for the
day-to-day management of the Portfolio's equity investments. Mr. Copper assists
with managing the stock portion of the Portfolio and has been affiliated with
the Portfolio since April 1999. Mr. Copper has been Vice President and Portfolio
Manager of the Adviser since December 1986. Mr. Wagle assists with the asset
allocation decision and has been affiliated with the Portfolio since April 1999.
Mr. Wagle has been Portfolio Manager of the Adviser since April 1999 and a
Quantitative Equity Analyst of the Adviser since February 1998. Prior to
November 1997, he was an Equity Analyst with Aeltus Investment Management. Prior
to December 1995, he was an Equity Analyst with Oppenheimer & Company. Kelly
Gilbert manages the Portfolio's fixed-income investments and has been affiliated
with the Portfolio since June 1, 1999. Ms. Gilbert joined the Adviser and
Advisory Corp. in September 1995 and became an Assistant Vice President of the
Adviser and Advisory Corp. in December 1997. Ms. Gilbert has been a Vice
President of the Adviser and Advisory Corp. since February 1999. Prior to
September 1995, Ms. Gilbert was a Corporate Bond Trader at ABN AMRO, N.A., a
foreign owned bank.
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VAN KAMPEN LIFE INVESTMENT TRUST --
GROWTH AND INCOME PORTFOLIO
SUPPLEMENT DATED AUGUST 19, 1999
TO THE
PROSPECTUS DATED APRIL 30, 1999
The paragraph under the section of the Prospectus entitled "INVESTMENT
ADVISORY SERVICES -- PORTFOLIO MANAGEMENT" relating to the Growth and Income
Portfolio is deleted in its entirety and replaced with the following:
The Growth and Income Portfolio is managed by a management team of James A.
Gilligan, Senior Portfolio Manager, Scott Carroll, Portfolio Manager and James
O. Roeder, Portfolio Manager. Mr. Gilligan has been primarily responsible for
managing the Portfolio's investments since the Portfolio's inception. Mr.
Gilligan has been Senior Vice President and Portfolio Manager of the Adviser
since September 1995 and of Advisory Corp. since June 1995. Prior to that time,
Mr. Gilligan was Vice President and Portfolio Manager of the Adviser. Mr.
Carroll has been a Portfolio Manager of the Portfolio since July 1997 and has
been employed by the Adviser and Advisory Corp. since December 1996, and a Vice
President of the Adviser and Advisory Corp. since February of 1999. Prior to
December 1996, Mr. Carroll was an Equity Analyst with Lincoln Capital Management
Company. Prior to September 1992, Mr. Carroll was a Senior Internal Auditor at
Pittway Corporation. Mr. Roeder has been a Portfolio Manager of the Portfolio
since May 1999 and a Vice President of the Adviser and Advisory Corp since May
1999. Prior to that time, Mr. Roeder was an analyst with Midwest Research and
prior to that, an analyst with Duff & Phelps Equity Research.
