<PAGE> 1
VAN KAMPEN LIFE INVESTMENT TRUST
ON BEHALF OF ITS SERIES
ASSET ALLOCATION PORTFOLIO
SUPPLEMENT DATED MAY 25, 2000 TO THE
PROSPECTUS DATED APRIL 28, 2000
The Prospectus is hereby supplemented as follows:
(1) The section entitled "INVESTMENT ADVISORY SERVICES -- PORTFOLIO
MANAGEMENT is hereby deleted in its entirety and replaced with the following:
PORTFOLIO MANAGEMENT. The Asset Allocation Portfolio is managed by a
group of Portfolio Managers headed by John Cunniff, Senior Portfolio
Manager. Mr. Cunniff and Raj Wagle are responsible for allocating the
Portfolio's assets between the equity and fixed-income categories. Mr.
Cunniff is responsible for the day-to-day management of the Portfolio's
equity investments. Mr. Cunniff has been a Vice President and Director of
Equity Research of the Adviser since October 1995. Prior to October 1995, he
was a Portfolio Manager for 3 years with Templeton Quantitative Advisors, a
subsidiary of the Franklin Group. Mr. Cunniff has been affiliated with the
Portfolio since March 1996.
Mr. Wagle 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 with Oppenheimer & Company for three years.
He was an Equity Analyst for two years and spent his first year as a
Research Associate.
Kelly Gilbert is responsible for the day-to-day management of the
Portfolio's fixed-income investments. Ms. Gilbert has been affiliated with
the Portfolio since June 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 for two years at ABN
AMRO, N.A., a foreign owned bank.
(2) The information on the inside back cover of the Prospectus under the
heading "BOARD OF TRUSTEES AND OFFICERS-OFFICERS" is hereby amended by deleting
all information pertaining to Peter W. Hegel*, effective May 31, 2000.
<PAGE> 2
(3) The information on the inside back cover of the Prospectus under the
heading "FOR MORE INFORMATION-INDEPENDENT ACCOUNTANTS" is hereby deleted and
replaced with the following:
ERNST & YOUNG LLP
233 South Wacker Drive
Chicago, Illinois 60606
RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
<PAGE> 3
VAN KAMPEN LIFE INVESTMENT TRUST
ON BEHALF OF ITS SERIES
EMERGING GROWTH PORTFOLIO
SUPPLEMENT DATED MAY 25, 2000 TO THE
PROSPECTUS DATED APRIL 28, 2000
The Prospectus is hereby supplemented as follows:
(1) The section entitled "INVESTMENT ADVISORY SERVICES-PORTFOLIO MANAGEMENT"
is hereby deleted in its entirety and replaced with the following:
PORTFOLIO MANAGEMENT. The Emerging Growth Portfolio is managed by a team of
portfolio managers. Senior Portfolio Manager Gary M. Lewis is the lead manager
of the Portfolio. Mr. Lewis has been a Senior Vice President of the Adviser and
Advisory Corp. since September 1995. Mr. Lewis became a Vice President and
Portfolio Manager of the Adviser in June 1991. Mr. Lewis has been employed by
the Adviser since September 1986. He has been affiliated with the Portfolio
since its inception.
Senior Portfolio Managers Dudley Brickhouse, Janet Luby and David Walker and
Portfolio Manager Matthew Hart are responsible as co-managers for the day-to-day
management of the Portfolio's investment portfolio.
Mr. Brickhouse has been a Senior Portfolio Manager since April 2000, and a
Portfolio Manager and Vice President of the Adviser and Advisory Corp. since
December 1998. Mr. Brickhouse became an Associate Portfolio Manager of the
Adviser and Advisory Corp. in September 1997. Prior to September 1997, Mr.
Brickhouse was a Vice President and Portfolio Manager with NationsBank, where he
had worked since 1985. He has been affiliated with the Portfolio since September
1997.
Mr. Hart has been a Portfolio Manager since January 1998, and a Vice
President of the Adviser and Advisory Corp. since December 1998. Mr. Hart became
an Associate Portfolio Manager of the Adviser and Advisory Corp. in August 1997.
Prior to August 1997, Mr. Hart held various positions within the portfolio area
of AIM Capital Management, Inc., where he had worked since June 1992. Mr. Hart's
last position in the AIM portfolio area was as a convertible bonds analyst. He
has been affiliated with the Portfolio since February 2000.
Ms. Luby has been a Senior Portfolio Manager since April 2000, and a
Portfolio Manager and Vice President of the Adviser and Advisory Corp. since
December 1998. Ms. Luby became an Assistant Vice President of the Adviser and
Advisory Corp. in December 1997 and an Associate Portfolio Manager of the
Adviser in July 1995. Prior to July 1995, Ms. Luby spent eight years at AIM
Capital Management, Inc. where she worked five years in the accounting depart-
<PAGE> 4
ment and three years in the investment area. Her last position in the AIM
investment area was as a senior securities analyst. Ms. Luby also has been the
portfolio manager for various unit investment trusts managed by the Adviser or
its affiliates since August 1999. She has been affiliated with the Portfolio
since its inception.
Mr. Walker has been a Senior Portfolio Manager since April 2000, and a
Portfolio Manager and a Vice President of the Adviser and Advisory Corp. since
December 1998. Mr. Walker became an Assistant Vice President of the Adviser and
Advisory Corp. in June 1995. Prior to April 1996, Mr. Walker was a Quantitative
Analyst of the Adviser and has worked for the Adviser since October 1990. Mr.
Walker also has been the portfolio manager for various unit investment trusts
managed by the Adviser or its affiliates since September 1997. Mr. Walker has
been affiliated with the Portfolio since April 1996.
(2) The information on the inside back cover of the Prospectus under the
heading "BOARD OF TRUSTEES AND OFFICERS-OFFICERS" is hereby amended by deleting
all information pertaining to Peter W. Hegel*, effective May 31, 2000.
(3) The information on the inside back cover of the Prospectus under the
heading "FOR MORE INFORMATION-INDEPENDENT ACCOUNTANTS" is hereby deleted and
replaced with the following:
ERNST & YOUNG LLP
233 South Wacker Drive
Chicago, Illinois 60606
RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
<PAGE> 5
VAN KAMPEN LIFE INVESTMENT TRUST
ON BEHALF OF ITS SERIES
GROWTH AND INCOME PORTFOLIO
SUPPLEMENT DATED MAY 25, 2000 TO THE
PROSPECTUS DATED APRIL 28, 2000
The Prospectus is hereby supplemented as follows:
(1) The section of the Prospectus entitled "INVESTMENT ADVISORY SERVICES-
PORTFOLIO MANAGEMENT" is hereby deleted and replaced with the following:
PORTFOLIO MANAGEMENT. The Growth and Income Portfolio is managed by a team
of portfolio managers, James A. Gilligan, Senior Portfolio Manager, Scott
Carroll, Portfolio Manager and James O. Roader, Portfolio Manager. Mr. Gilligan
has been primarily responsible for managing the Portfolio's investments since
the Portfolio's inception. Mr. Gilligan has been a Senior Vice President and a
Portfolio Manager of the Adviser since September 1995 and of Advisory Corp.
since June 1995. Prior to September 1995, Mr. Gilligan was a Vice President and
Portfolio Manager of the Adviser.
Mr. Carroll has been a Portfolio Manager of the Portfolio since July 1997
and a Vice President of the Adviser and Advisory Corp. since February 1999. He
has been employed by the Adviser and Advisory since December 1996. Prior to
December 1996, Mr. Carroll was an Equity Analyst for 3 years with Lincoln
Capital Management Company.
Mr. Roader has been a Portfolio Manager of the Portfolio and a Vice
President of the Adviser and Advisory Corp. since May 1999. Prior to that time,
Mr. Roeder was an analyst for 3 years with Midwest Research and prior to that,
an analyst for approximately 2 years with Duff & Phelps Equity Research.
(2) The information on the inside back cover of the Prospectus under the
heading "BOARD OF TRUSTEES AND OFFICERS-OFFICERS" is hereby amended by deleting
all information pertaining to Peter W. Hegel*, effective May 31, 2000.
(3) The information on the inside back cover of the Prospectus under the
heading "FOR MORE INFORMATION-INDEPENDENT ACCOUNTANTS" is hereby deleted and
replaced with the following:
ERNST & YOUNG LLP
233 South Wacker Drive
Chicago, Illinois 60606
RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
<PAGE> 6
VAN KAMPEN LIFE INVESTMENT TRUST
ON BEHALF OF ITS SERIES
DOMESTIC INCOME PORTFOLIO
SUPPLEMENT DATED MAY 25, 2000 TO THE
PROSPECTUS DATED APRIL 28, 2000
The Prospectus is hereby supplemented as follows:
(1) The section entitled "INVESTMENT ADVISORY SERVICES-PORTFOLIO MANAGEMENT"
is hereby deleted in its entirety and replaced with the following:
PORTFOLIO MANAGEMENT. The Domestic Income Portfolio is managed by Kelly
Gilbert, a Vice President of the Adviser and Advisory Corp. since February 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.
Prior to September 1995, Ms. Gilbert was a corporate bond trader for 2 years at
ABN AMRO, N.A., a foreign owned bank. Ms. Gilbert has been affiliated with the
Portfolio since June 1999.
(2) The information on the inside back cover of the Prospectus under the
heading "BOARD OF TRUSTEES AND OFFICERS-OFFICERS" is hereby amended by deleting
all information pertaining to Peter W. Hegel*, effective May 31, 2000.
(3) The information on the inside back cover of the Prospectus under the
heading "FOR MORE INFORMATION-INDEPENDENT ACCOUNTANTS" is hereby deleted and
replaced with the following:
ERNST & YOUNG LLP
233 South Wacker Drive
Chicago, Illinois 60606
RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
<PAGE> 7
VAN KAMPEN COMSTOCK FUND
VAN KAMPEN ENTERPRISE FUND
VAN KAMPEN EQUITY INCOME FUND
VAN KAMPEN HARBOR FUND
VAN KAMPEN LIMITED MATURITY GOVERNMENT FUND
VAN KAMPEN REAL ESTATE SECURITIES FUND
VAN KAMPEN LIFE INVESTMENT TRUST
ON BEHALF OF ITS SERIES
ASSET ALLOCATION PORTFOLIO
COMSTOCK PORTFOLIO
DOMESTIC INCOME PORTFOLIO
EMERGING GROWTH PORTFOLIO
ENTERPRISE PORTFOLIO
GLOBAL EQUITY PORTFOLIO
GOVERNMENT PORTFOLIO
GROWTH AND INCOME PORTFOLIO
MONEY MARKET PORTFOLIO
MORGAN STANLEY REAL ESTATE SECURITIES PORTFOLIO
STRATEGIC STOCK PORTFOLIO
SUPPLEMENT DATED MAY 25, 2000 TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 28, 2000
The Statement of Additional Information is hereby supplemented as follows:
(1) The section entitled "TRUSTEES AND OFFICERS -- OFFICERS" is hereby
amended by deleting all information pertaining to Peter W. Hegel, effective May
31, 2000.
(2) The information in the section entitled "OTHER
INFORMATION -- INDEPENDENT ACCOUNTANTS" is hereby deleted in its entirety and
replaced with the following:
Independent accountants for the Fund perform an annual audit of the Fund's
financial statements. The Fund's Board of Trustees has engaged Ernst & Young
LLP, located at 233 South Wacker Drive, Chicago, Illinois 60606, to be the
Fund's independent accountants, effective May 18, 2000. PricewaterhouseCoopers
LLP, located at 200 East Randolph Drive, Chicago, Illinois 60601 ("PWC"), ceased
being the Fund's independent accountants effective May 18, 2000. The cessation
of the client-auditor relationship between the Fund and PWC was based solely on
a possible future business relationship by PWC with an affiliate of the Fund's
investment adviser. The change in independent accountants was approved by the
Fund's audit committee and the Fund's Board of Trustees, including Trustees who
are not "interested persons" of the Fund (as defined in the 1940 Act).
RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
