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CIGNA VARIABLE PRODUCTS GROUP
SUPPLEMENT DATED OCTOBER 8, 1999
TO THE PROSPECTUS DATED MAY 1, 1999 FOR
CIGNA VARIABLE PRODUCTS INVESTMENT GRADE BOND FUND
The second full paragraph under the caption "Management of the Funds"
on page 12 is deleted and replaced in its entirety by the following:
Effective September 30, 1999 the following became the portfolio managers of the
Investment Grade Bond Fund:
ROBERT J. MOORE. Mr. Moore is Chief Investment Officer of CIGNA Investments.
He previously had been co-head of global fixed income at Credit Suisse
Asset Management where he oversaw the U.S. fixed income team and chaired
its sector allocation committees. Prior to joining Credit Suisse in
1987, he was head of a fixed income sales research group at Salomon
Brothers. Mr. Moore holds a B.S. in Finance from Lehigh University and
is a member of the Advisory Council for the Lehigh University Business
School.
ROBERT W. JUSTICH. Mr. Justich is Managing Director and senior member of the
Global Fixed Income portfolio management team of CIGNA Investments.
Previously, Mr. Justich was a Managing Director at Credit Suisse Asset
Management, where he led the organization's global fixed income credit
function and was directly responsible for approximately $6 billion in
fixed income assets. Prior to joining Credit Suisse in 1995, he spent
seven years as Director, Corporate Bond Trading at Merrill Lynch,
focusing on credit research and leading the development of Merrill's
first proprietary corporate bond trading desk. Mr. Justich holds a B.A.
degree and M.B.A. in Finance from Rutgers University.
LELAND E. CRABBE, PH.D. Mr. Crabbe is Managing Director and Core Fixed Income
Portfolio Manager of CIGNA Investments. Previously, he was with Credit
Suisse Asset Management where he worked in fixed income and managed
emerging debt portfolios. Prior to joining Credit Suisse, he was the
corporate bond strategist at Merrill Lynch. Mr. Crabbe received his
bachelor's degree from Cal State-Fullerton and earned his master's
degree and Ph.D. in economics from UCLA.
IRA EDELBLUM. Mr. Edelblum is Managing Director and Core Fixed Income Portfolio
Manager of CIGNA Investments. Previously, Mr. Edelblum was with Credit
Suisse Asset Management where he was a portfolio manager specializing in
corporate bonds. Mr. Edelblum is a graduate of the State University of
New York (Albany) and holds an M.B.A. from New York University.
KEVIN D. BARRY, CFA. Mr. Barry is Managing Director and Core Fixed Income
Portfolio Manager of CIGNA Investments. His responsibilities include
managing public mortgage and asset-backed securities. Previously, Mr.
Barry was with 1838 Investment Advisers. Mr. Barry received his
bachelor's degree in Finance, Summa cum laude, from LaSalle College in
1981.
Messrs. Moore, Justich, Crabbe and Edelblum joined CIGNA Investments in
1999. Mr. Barry joined CIGNA Investments in 1997.
