<PAGE> 1
SUPPLEMENT DATED AUGUST 7, 1996 TO
PROSPECTUS DATED MAY 1, 1996 FOR
INDIVIDUAL FLEXIBLE PAYMENT
VARIABLE ANNUITY CONTRACTS
ISSUED BY
MONY AMERICA VARIABLE ACCOUNT A
AND
MONY LIFE INSURANCE COMPANY OF AMERICA
This supplement updates certain information contained in the Prospectus
and, to the extent inconsistent, it supersedes it. You should attach this
supplement to the Prospectus and retain it with the Prospectus for future
reference. You may obtain an additional copy of the Prospectus, free of charge,
by writing to MONY Life Insurance Company of America ("MONY America") at the
address set out below.
The purpose of this supplement is to notify you of a proposal to substitute
shares of the U.S. Government Income Series ("U.S. Government Portfolio") of OCC
Accumulation Trust ("Trust") for shares of the Bond Series ("Bond Portfolio") of
the Trust.
On August 7, 1996, MONY America filed an application with the Securities
and Exchange Commission ("Commission") requesting an order approving the
Substitution. Upon obtaining the order from the Commission approving the
Substitution, and subject to any prior approval by applicable insurance
authorities, MONY America and MONY America Variable Account A ("MONY America
Account") propose to effect the Substitution as soon as is practicable,
preferably no later than December 31, 1996.
MONY America has proposed the Substitution to provide a transfer of the
assets of the Bond Portfolio that currently and in the future may be expected to
be of insufficient size to promote consistent investment performance or to
reduce operating expenses. The transfer of assets is also expected to assist
MONY America in further expanding assets with resulting benefits to
Contractowners.
A Contractowner, prior to the date of Substitution, may transfer his or her
Bond Portfolio Sub-Account value to any other sub-account of the MONY America
Account without any limitation or charge being imposed. Moreover, following the
Substitution for a period of 30 days, MONY America will permit transfers from
the U.S. Government Portfolio Sub-Account to any other sub-account of the MONY
America Account without any limitation or charge being imposed. After 30 days,
any transfers from the U.S. Government Portfolio Sub-Account will be subject to
the restrictions described in the Prospectus.
A complete list of all Portfolios of the Trust in which the MONY America
Account invests is set forth in the Prospectus. You may obtain a Prospectus by
writing to the Company at the address or telephone number set out below.
MONY America believes, based on its review of existing federal income tax
laws and regulations, that the Substitution will not have any tax consequences
to Contractowners.
MONY America will effect the Substitution by simultaneously placing an
order to redeem the shares of the Bond Portfolio and an order to purchase shares
of the U.S. Government Portfolio of the Trust. OpCap Advisors, the Trust's
Manager, will bear any expenses attributable to the Substitution. MONY America
will send affected Contractowners a notice within five days after the
Substitution.
ISSUED BY: MONY LIFE INSURANCE COMPANY OF AMERICA
DISTRIBUTED BY: MONY SECURITIES CORP.
1740 BROADWAY
NEW YORK, N.Y. 10019
1-800-487-6669
