AMERICAN INTERNATIONAL LIFE ASSURANCE COMPANY OF NEW YORK
VARIABLE ACCOUNT B
Supplement dated August 1, 1997, to the Prospectus dated May 1, 1997.
This Supplement provides information regarding a change in the investment
options available under the Policy.
The Zero Coupon 2000 Portfolio of the Dreyfus Variable Investment Fund is
no longer available as an investment option. Policy Account Values currently
allocated to the Zero Coupon 2000 Portfolio may remain there until on or about
December 31, 2000 when the Portfolio will be liquidated. At any time prior to
that date, the Owner may transfer remaining Policy Account Value from the Zero
Coupon 2000 Portfolio to any other investment option available under the Policy.
This Supplement also provides information regarding the availability of the
Small Company Stock Portfolio, a separate diversified portfolio of the Dreyfus
Variable Investment Fund, as an investment option under the Policy. The Dreyfus
Corporation serves as the investment adviser.
The investment objective of the Small Company Stock Portfolio is to provide
investment results that are greater than the total return performance of
publicly-traded common stocks in the aggregate, as represented by Russell 2500
TM Index. There can be no assurance that the investment objective will be
achieved.
Additional information regarding the Small Company Stock Portfolio may be
found in the Prospectus of the Dreyfus Variable Investment Fund, Small Company
Stock Portfolio, dated May 1, 1997, which sets forth disclosure regarding the
Portfolio, its adviser, and its performance history. The Portfolio Prospectus is
enclosed with this Prospectus.
The Small Company Stock Portfolio commenced operation on April 30, 1996,
and was first offered as an available investment option under the Policy on
August 1, 1997.
SUMMARY OF EXPENSES
MANAGEMENT FEE OTHER EXPENSES TOTAL PORTFOLIO EXPENSES
0.56% 0.19% 0.75%
The figures represented above are not annualized. During the period April 30,
1996 to December 31, 1996, total Portfolio expenses represented 0.75%
of average net assets after any expense reimbursements.
THIS SUPPLEMENT SHOULD BE READ IN CONJUNCTION WITH THE PROSPECTUS FOR VARIABLE
ACCOUNT B, DATED MAY 1, 1997, AND THE DREYFUS VARIABLE INVESTMENT FUND SMALL
COMPANY STOCK PORTFOLIO PROSPECTUS DATED MAY 1, 1997.
RUSSELL 2500 TM IS A TRADEMARK OF FRANK RUSSELL COMPANY. NEITHER THE POLICY NOR
THE PORTFOLIO IS SPONSORED, ENDORSED, SOLD OR PROMOTED BY FRANK RUSSELL COMPANY.
