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<PAGE> AMERICAN NATIONAL INVESTMENT ACCOUNTS, INC. SUPPLEMENT DATED DECEMBER 5, 1995 TO PROSPECTUS DATED APRIL 30, 1995 HOLIDAY SCHEDULE CHANGE: SM&R's observance of the 1995 Christmas holidays has been changed to Monday, December 25, 1995 and Tuesday, December 26, 1995. SM&R will be open for business on Friday, December 22, 1995. This change modifies the language appearing on page 9 of the American National Investment Accounts, Inc. Prospectus.
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