<PAGE> 1
GENERAL AMERICAN CAPITAL COMPANY
PROSPECTUS SUPPLEMENT
Dated October 2, 1998
This page supplements the General American Capital Company Prospectus dated
May 1, 1998, as set forth below. Please keep this Prospectus Supplement with
your Prospectus for future reference.
The fourth and fifth paragraphs under the heading "Management of the Company"
on page 22 are replaced by the following paragraph:
"The manager of the Managed Equity Fund, Asset Allocation Fund,
International Index Fund, and Mid-Cap Equity Fund is David A. Kaslow, CFA,
vice president of the Investment Adviser. Mr. Kaslow has managed the Asset
Allocation Fund, International Index Fund, and Mid-Cap Equity Fund since
January 1, 1997 and the Managed Equity Fund since October 1998. Prior to
joining the Investment Adviser in 1994, Mr. Kaslow performed equity research
at FBW Investment Management. Mr. Kaslow has a bachelor's degree from Tulane
University and a master's degree from Washington University in St. Louis,
Missouri."
<PAGE> 2
GENERAL AMERICAN CAPITAL COMPANY
PROSPECTUS SUPPLEMENT
Dated October 2, 1998
This page supplements the General American Capital Company Prospectus dated
May 1, 1998, as set forth below. Please keep this Prospectus Supplement with
your Prospectus for future reference.
The first two full paragraphs on page 14 are replaced by the following
paragraph:
"The manager of the Managed Equity Fund and the Asset Allocation Fund
is David A. Kaslow, CFA, vice president of the Investment Adviser. Mr.
Kaslow has managed the Asset Allocation Fund since January 1, 1997 and the
Managed Equity Fund since October 1998. Prior to joining the Investment
Advisor in 1994, Mr. Kaslow performed equity research at FBW Investment
Management. Mr. Kaslow has a bachelor's degree from Tulane University and a
master's degree from Washington University in St. Louis, Missouri."
