SunAmerica Equity Funds
Supplement to the Statement of Additional Information dated
January 29, 1999
The first paragraph on page B-55 of the Statement of Additional
Information should be replaced with the following:
If a shareholder acquires Class A shares through an exchange
from another SunAmerica Mutual Fund where the original purchase of
such fund's Class A shares was not subject to an initial sales
charge because the purchase was in excess of $1 million, such
shareholder will remain subject to the CDSC, if any as described in
the Prospectus, applicable to such redemptions. In such event, the
period for which the original shares were held prior to the
exchange will be "tacked" with the holding period of the shares
acquired in the exchange for purposes of determining whether the
CDSC is applicable upon a redemption of any of such shares.
Dated: September 24, 1999
