SUNAMERICA EQUITY FUNDS
Supplement to the Prospectus dated January 31, 2000 as
supplemented April 3, 2000
The second paragraph under the heading "Additional Risks
Specific to the Growth Opportunities Fund and the New Century Fund"
on page 4 should be replaced in its entirety with the following:
Stocks of smaller companies may be more
volatile than, and not as readily marketable
as, those of larger companies. The Growth
Opportunities Fund may be riskier than the
Blue Chip Growth Fund, and the New Century
Fund may be riskier than both the Growth
Opportunities Fund and the Blue Chip Growth
Fund. Additionally, the New Century Fund and
the Growth Opportunities Fund may at times
significantly invest in technology companies.
Technology companies may react similarly to
certain market pressures and events. They may
be significantly affected by short product
cycles, aggressive pricing of products and
services, competition from new market
entrants, and obsolescence of existing
technology. As a result, the Portfolio's
returns may be considerably more volatile than
a fund that does not invest in technology
companies.
Dated: June 15, 2000
