This is filed pursuant to Rule 497(e).
File Nos.: 033-18647 and 811-5398
May 2, 2000
ELECTRONIC SUBMISSION - VIA EDGAR
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Alliance Variable Products Series Fund, Inc. ("AVP")
(File Nos. 33-18647 and 811-5398);
Ladies and Gentlemen:
Transmitted herewith for filing on behalf of AVP pursuant to Rule 497
promulgated under the Securities Act of 1933, as amended, and the Investment
Company Act of 1940, as amended, is a supplement to AVP's Prospectus and the
Statement of Additional Information dated May 1, 2000.
Please direct any questions you may have with respect to the enclosed
materials to me at the number indicated above or, in my absence, to Brian D.
McCabe (ext. 7801) of this office.
Sincerely,
JOHN B. MCGINTY, JR.
John B. McGinty, Jr.
JBM/jbm
cc: J.B. Kittredge, Esq.
Andrew L. Gangolf, Esq.
ALLIANCE VARIABLE PRODUCTS SERIES FUND, INC.
Supplement to the Prospectus and
Statement of Additional Information
dated May 1, 2000*
On May 1, 2000, AIG Life Insurance Company ("AIG"), its Variable Account
I, American International Life Assurance Company of New York ("American"), its
Variable Account A, ReliaStar Life Insurance Company of New York ("ReliaStar"),
its Separate Accounts P and Q (together with the AIG's Variable Account I and
American's Variable Account A, 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 (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 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 SEC has issued an order approving the Substitutions, 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 propose to consummate the
Substitutions by July 1, 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.
* This Supplement is also intended to revise certain information contained
in the variable life insurance and variable annuity prospectuses that are
attached to the prospectus for Alliance Variable Products Series Fund, Inc.
