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File Pursuant to Rule 497(e)
Registration No. 033-28888
SUPPLEMENT DATED JULY 25, 1997 TO THE STATEMENT OF ADDITIONAL INFORMATION
DATED MAY 1, 1997 FOR
CANADA LIFE OF AMERICA SERIES FUND, INC.
Effective July 25, 1997, the statement of additional information dated May 1,
1997 for Canada Life of America Series Fund, Inc. is amended as set forth below.
The section of the statement of additional information captioned "International
Equity Portfolio Sub-Adviser" is amended to include the following:
Effective July 15, 1997, the International Equity Portfolio Sub-Adviser changed
its name from Canada Life Investment Management Limited to INDAGO Capital
Management Inc. The name change was executed in connection with the sale of
fifty percent of the International Equity Portfolio Sub-Adviser's outstanding
common stock to certain of its executive employees (the "Executive Employees").
The International Equity Portfolio Sub-Adviser is jointly owned by the Executive
Employees and The Canada Life Assurance Company.
The first paragraph in the section of the statement of additional information
captioned "International Equity Portfolio Sub-Advisory Agreement" is replaced
with the following:
The International Equity Portfolio Sub-Advisory Agreement was approved by the
Fund's Board of Directors, including a majority of the directors who are not
interested persons of the Fund, the Adviser, or the International Equity
Portfolio Sub-Adviser on May 21, 1997. On July 16, 1997, the Agreement was
approved by an affirmative vote of a majority of outstanding shares of the
International Equity Portfolio, with the Company voting Fund shares attributable
to policies participating in its registered separate accounts in accordance with
instructions received from policyowners, as required by law. Unless terminated
earlier, as described below, the Agreement will continue in effect from year to
year if approved annually by the Board of Directors of the Fund including a
majority of the Directors who are not parties to the Agreement or interested
persons, as defined by the Investment Company Act of 1940, as amended, of any
such parties or by a majority of the outstanding shares of the International
Equity Portfolio. The Agreement is not assignable and may be terminated at any
time without penalty by the Board of Directors of the Fund or by vote of a
majority of the outstanding shares of the International Equity Portfolio, or by
the Adviser or International Equity Portfolio Sub-Investment Adviser on 60 days
notice to the other party. The Agreement may be terminated by the Fund for cause
at any time.
