EXECUTIVE INVESTORS TRUST
                                 BLUE CHIP FUND
                                 HIGH YIELD FUND
                             INSURED TAX EXEMPT FUND
                          SUPPLEMENT DATED JULY 9, 1999
           TO STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 30, 1999


The following replaces item 7 under the section "Class A Shares May be Purchased
Without a Sales  Charge" on page 4 of the  Shareholder  Manual  dated  April 22,
1999:

         7: With the  liquidation  proceeds from a First Investors Life Variable
         Annuity  Fund A,  C, or D  contract  or from a First  Investors  Single
         Premium  Retirement  Annuity contract within one year of the contract's
         maturity date.



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