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LIFE INVESTMENT TRUST
COMSTOCK PORTFOLIO
SUPPLEMENT DATED JANUARY 10, 2000
TO THE PROSPECTUS DATED APRIL 30, 1999
AS PREVIOUSLY SUPPLEMENTED DECEMBER 30, 1999
The section of the Prospectus entitled "INVESTMENT ADVISORY
SERVICES -- PORTFOLIO MANAGEMENT" is hereby deleted in its entirety and replaced
with the following section entitled "INVESTMENT ADVISORY SERVICES -- PORTFOLIO
MANAGEMENT."
The Fund is managed by a group of portfolio managers headed by B. Robert
Baker, Jr., Senior Portfolio Manager. Mr. Baker has primarily responsible for
managing the Fund's investment portfolio since July 1994. Mr. Baker has been a
Senior Vice President since March 1999 and a Vice President and a Portfolio
Manager of the Adviser and Advisory Corp. since June 1995. Prior to June 1995,
Mr. Baker was an Associate Portfolio Manager of the Adviser. Mr. Baker has been
employed by the Advisor since 1991.
Portfolio Managers Jason S. Leder and Kevin C. Holt have been responsible
as co-managers for the day-to-day management of the Fund's investment portfolio
since December 1995 and August 1999, respectively.
Mr. Leder has been a Vice President since March 1999 and an Assistant Vice
President of the Adviser and Advisory Corp. since October 1996. Prior to October
1996, Mr. Leder was an Associate Portfolio Manager of the Adviser. Prior to
February 1995, Mr. Leder was a Securities Analyst for two years with Salomon
Brothers, Inc.
Mr. Holt has been a Vice President of the Adviser since August 1999. Prior
to joining Van Kampen, Mr. Holt was a Senior Research Analyst with Strong
Capital Management from October 1997 to August 1999. From July 1995 to October
1997, he was a Portfolio Manager/Analyst with Citibank Global Asset Management.
