<PAGE> 1
GENERAL AMERICAN CAPITAL COMPANY
PROSPECTUS SUPPLEMENT
DATED MARCH 18, 1998
This supplements the General American Capital Company Prospectus dated May 1,
1997, as set forth below.
The second paragraph under the heading "MANAGEMENT OF THE COMPANY" on page 19
is hereby removed and replaced by the following paragraphs:
The manager of the S&P 500 Index Fund, Money Market Fund, and Small-Cap
Equity Fund is Douglas R. Koester, CFA, senior vice president of Conning
Asset Management Company (the Investment Adviser). He has managed the S&P
500 Index Fund and Money Market Fund since their inception on October 1,
1987, and has managed the Small-Cap Equity Fund since its inception on May 1,
1997. Mr. Koester earned bachelor's and master's degrees from Washington
University in St. Louis, Missouri. He has served as vice president of the
Investment Adviser since 1986.
The Bond Index Fund is managed by Wm. Michael Cody, CFA, vice president
of the Investment Adviser. He has managed the Bond Index Fund since January
1, 1996. Prior to joining the Investment Adviser in 1995, Mr. Cody worked
for seven years for Walnut Street Securities, Inc. He has a bachelor's
degree from Marquette University and an MBA degree from Drake University.
The Managed Equity Fund is managed by John W. Zimmerman, CFA, senior
vice president of the Investment Adviser. He has managed the Managed Equity
Fund since April 1997. Mr. Zimmerman served as an equity analyst and vice
president/manager of fundamental research at NationsBank Private Investments
(formerly Boatmen's Trust Company) for 10 years before coming to the
Investment Adviser in 1997. He earned a bachelor's degree from the
University of Missouri-Columbia and a master's degree from St. Louis
University.
The manager of the Asset Allocation Fund, International Index Fund, and
Mid-Cap Equity Fund is David A. Kaslow, 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. He worked as an
equity analyst for more than two years at FBW Investment Management prior to
joining Conning Asset Management Company. Mr. Kaslow has a bachelor's degree
from Tulane University and a master's degree from Washington University in
St. Louis, Missouri.
Please keep this Prospectus Supplement with your Prospectus for future
reference.
<PAGE> 2
GENERAL AMERICAN CAPITAL COMPANY
PROSPECTUS SUPPLEMENT
DATED MARCH 18, 1998
This supplements the General American Capital Company Prospectus dated May 1,
1997, as set forth below.
The second paragraph under the heading "MANAGEMENT OF THE COMPANY" on page 14
is hereby removed and replaced by the following paragraphs:
The manager of the S&P 500 Index Fund and the Money Market Fund is
Douglas R. Koester, CFA, senior vice president of Conning Asset Management
Company (the Investment Adviser). He has managed the S&P 500 Index Fund and
Money Market Fund since their inception on October 1, 1987. Mr. Koester
earned bachelor's and master's degrees from Washington University in St.
Louis, Missouri. He has served as vice president of the Investment Adviser
since 1986.
The Bond Index Fund is managed by Wm. Michael Cody, CFA, vice president
of the Investment Adviser. He has managed the Bond Index Fund since January
1, 1996. Prior to joining the Investment Adviser in 1995, Mr. Cody worked
for seven years for Walnut Street Securities, Inc. He has a bachelor's
degree from Marquette University and an MBA degree from Drake University.
The Managed Equity Fund is managed by John W. Zimmerman, CFA, senior
vice president of the Investment Adviser. He has managed the Managed Equity
Fund since April 1997. Mr. Zimmerman served as an equity analyst and vice
president/manager of fundamental research at NationsBank Private Investments
(formerly Boatmen's Trust Company) for 10 years before coming to the
Investment Adviser in 1997. He earned a bachelor's degree from the
University of Missouri-Columbia and a master's degree from St. Louis
University.
The manager of the Asset Allocation Fund is David A. Kaslow, vice
president of the Investment Adviser. Mr. Kaslow has managed the Asset
Allocation Fund since January 1, 1997. He worked as an equity analyst for
more than two years at FBW Investment Management prior to joining Conning
Asset Management Company. Mr. Kaslow has a bachelor's degree from Tulane
University and a master's degree from Washington University in St. Louis,
Missouri.
Please keep this Prospectus Supplement with your Prospectus for future
reference.
