KEMPER VARIABLE SERIES
Kemper Money Market Portfolio
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SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED MAY 1, 1999
The following disclosure supplements the section entitled "Investment
Restrictions" in the currently effective Statement of Additional Information:
With regard to Restriction #3, for purposes of determining the percentage of
Money Market Portfolio's total assets invested in securities of issuers having
their principal business activities in a particular industry, asset backed
securities will be classified separately, based on the nature of the underlying
assets. Currently, the following categories are used: captive auto, diversified,
retail and consumer loans, captive equipment and business, business trade
receivables, nuclear fuel and capital and mortgage lending.
May 26, 1999
