SUNAMERICA INCOME FUNDS
Supplement to the Prospectus dated July 28, 1995
Immediately prior to the first sentence of the first paragraph
under the section entitled "Exchange Privilege" on page 24 of the
Prospectus, the subheading "GENERAL." is inserted.
The following paragraph is inserted as the fourth paragraph
under the section entitled "Exchange Privilege" on page 24 of the
Prospectus:
RESTRICTIONS ON EXCHANGES. Because excessive trading
(including short-term "market timing" trading) can hurt
a Fund's performance, effective January 1, 1996, each
Fund may refuse any exchange sell order (1) if it appears
to be a market timing transaction involving a significant
portion of a Fund's assets or (2) from any shareholder
account if previous use of the exchange privilege is
considered excessive. Accounts under common ownership or
control, including, but not limited to, those with the
same taxpayer identification number and those
administered so as to redeem or purchase shares based
upon certain predetermined market indicators, will be
considered one account for this purpose.
In addition, a Fund reserves the right to
refuse any exchange purchase order if, in the judgment of
the Adviser, the Fund would be unable to invest
effectively in accordance with its investment objective
and policies, or would otherwise potentially be adversely
affected. A shareholder's purchase exchange may be
restricted or refused if the Fund receives or anticipates
simultaneous orders affecting significant portions of the
Fund's assets. In particular, a pattern of exchanges
that coincide with a "market timing" strategy may be
disruptive to the Fund and may therefore be refused.
Finally, as indicated under "Purchase of
Shares," the Fund and Distributor reserve the right to
refuse any order for the purchase of shares.
December 12, 1995
