SUNAMERICA EQUITY FUNDS
Supplement to the Prospectus dated January 30, 1997
The following should be inserted after the first sentence
of the second paragraph under the subheading entitled "Class
A Shares" on page 21 of the Prospectus:
In addition, shares may be purchased at net asset value,
without payment of a sales charge, by employee benefit
plans qualified under Sections 401 or 457 of the Internal
Revenue Code of 1986, as amended (the "Code"), or
employee benefit plans created pursuant to Section 403(b)
of the Code and sponsored by nonprofit organizations
defined under Section 501(c)(3) of the Code
(collectively, "Plans"). A Plan will qualify for
purchases at net asset value provided that (a) the
initial amount invested in one or more of the Funds (or
in combination with the shares of other funds in the
SunAmerica Family of Mutual Funds) is at least
$1,000,000, (b) the sponsor signs a $1,000,000 Letter of
Intent, (c) such shares are purchased by an employer-
sponsored plan with at least 100 eligible employees, or
(d) the purchases are by trustees or other fiduciaries
for certain employer-sponsored plans, the trustee,
fiduciary or administrator for which has an agreement
with the Distributor with respect to such purchases and
all such transactions for the plan are executed through
a single omnibus account.
June 6, 1997
