Supplement dated June 15, 2000
to the
Alliance Variable Products Series Fund, Inc. the Individual and Group Single
Prospectus and Statement of Additional and Flexible Purchase Payment
Information, dated May 1, 2000, and Gallery Variable Annuity Contract
Prospectus issued by AIG Life
Insurance Company through its
Variable Account I, dated
May 1, 2000
On May 1, 2000 AIG Life Insurance Company ("AIG"), its Variable Account
I, (the "AIG Separate Account"), American International Life Assurance Company
of New York ("American"), its Variable Account A, (the "American Separate
Account"), Reliastar Life Insurance Company of New York ("Reliastar"), its
Separate Accounts P and Q (the "Reliastar Separate Accounts" and, together with
the AIG Separate Account and the American Separate Account, the "Separate
Accounts") and Alliance Variable Products Series Fund, Inc. ("AVP") filed an
application with the SEC requesting approval (1) to substitute (the "C&G
Substitution") shares of AVP's Total Return Portfolio for shares of AVP's
Conservative Investors Portfolio and Growth Investors Portfolio held by
Divisions of the Separate Accounts, and (2) to substitute (the "MM Substitution"
and, together with the C&G Substitution, the "Substitutions") shares of AVP's
Money Market Portfolio and shares of the Oppenheimer Money Fund/VA for shares of
AVP's Short-Term Multi-Market Portfolio (together with AVP's Conservative
Investors Portfolio, Growth Investors Portfolio, Total Return Portfolio and
Money Market Portfolio, the "Affected Portfolios") held by Divisions of the
Separate Accounts.
The Substitutions are intended to create economies of scale and to
reduce operating expenses borne indirectly by owners (the "Contractowners") of
variable life insurance contracts in connection with one or more of the Separate
Accounts.
The Substitutions will have no effect on the total value of the units
that you hold in one or more Separate Accounts. Rights to transfer to other
portfolios of AVP will not be affected by the Substitutions. These transfers may
be made at any time without tax liability and, until approximately 60 days after
the substitutions have been consummated, without any charge. In addition, the
Substitutions will not alter the insurance benefits to Contractowners or the
contractual obligations of AIG, American or Reliastar, as the case may be.
After receiving an order from the SEC approving the Substitutions, and
subject to any required insurance department approvals, AIG, American,
Reliastar, AVP and the Separate Accounts currently expect to consummate the
Substitutions on or about September 15, 2000, or as soon thereafter as
practicable. AIG, American, Reliastar and Alliance Capital Management L.P.,
AVP's investment adviser, will bear the expenses attributable to the
Substitutions.
Please retain this supplement for future reference.
<PAGE>
Supplement dated June 15, 2000
to the
Alliance Variable Products Series Fund, Inc. the Individual and Group Single
Prospectus and Statement of Additional and Flexible Purchase Payment
Information, dated May 1, 2000, and Profile(TM)Variable Annuity
Contract Prospectus issued by
AIG Life Insurance Company
through its Variable Account I,
dated May 1, 2000
On May 1, 2000 AIG Life Insurance Company ("AIG"), its Variable Account
I, (the "AIG Separate Account"), American International Life Assurance Company
of New York ("American"), its Variable Account A, (the "American Separate
Account"), Reliastar Life Insurance Company of New York ("Reliastar"), its
Separate Accounts P and Q (the "Reliastar Separate Accounts" and, together with
the AIG Separate Account and the American Separate Account, the "Separate
Accounts") and Alliance Variable Products Series Fund, Inc. ("AVP") filed an
application with the SEC requesting approval (1) to substitute (the "C&G
Substitution") shares of AVP's Total Return Portfolio for shares of AVP's
Conservative Investors Portfolio and Growth Investors Portfolio held by
Divisions of the Separate Accounts, and (2) to substitute (the "MM Substitution"
and, together with the C&G Substitution, the "Substitutions") shares of AVP's
Money Market Portfolio and shares of the Oppenheimer Money Fund/VA for shares of
AVP's Short-Term Multi-Market Portfolio (together with AVP's Conservative
Investors Portfolio, Growth Investors Portfolio, Total Return Portfolio and
Money Market Portfolio, the "Affected Portfolios") held by Divisions of the
Separate Accounts.
The Substitutions are intended to create economies of scale and to
reduce operating expenses borne indirectly by owners (the "Contractowners") of
variable life insurance contracts in connection with one or more of the Separate
Accounts.
The Substitutions will have no effect on the total value of the units
that you hold in one or more Separate Accounts. Rights to transfer to other
portfolios of AVP will not be affected by the Substitutions. These transfers may
be made at any time without tax liability and, until approximately 60 days after
the substitutions have been consummated, without any charge. In addition, the
Substitutions will not alter the insurance benefits to Contractowners or the
contractual obligations of AIG, American or Reliastar, as the case may be.
After receiving an order from the SEC approving the Substitutions, and
subject to any required insurance department approvals, AIG, American,
Reliastar, AVP and the Separate Accounts currently expect to consummate the
Substitutions on or about September 15, 2000, or as soon thereafter as
practicable. AIG, American, Reliastar and Alliance Capital Management L.P.,
AVP's investment adviser, will bear the expenses attributable to the
Substitutions.
Please retain this supplement for future reference.
