AETNA SERIES FUND INC
497, 1997-11-06
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                             AETNA SERIES FUND, INC.
                         Select Class and Adviser Class


     Supplement dated November 6, 1997 to the Prospectus dated March 3, 1997


The information in this Supplement updates and amends the information  contained
in the Prospectus dated March 3, 1997 (the "Prospectus") and should be read with
that Prospectus.

The section  entitled  "Portfolio  Management -- Growth" found on page 39 of the
Select Class  Prospectus  and page 42 of the Adviser Class  Prospectus is hereby
amended and supplemented as follows:

Growth

Peter B. Canoni, Managing Director, Aeltus, and Kenneth H. Bragdon, Vice
President, Aeltus, are the co-managers for Growth. Mr. Canoni has managed the
Portfolio since its inception in January 1994, with Mr. Bragdon's assistance.
Mr. Bragdon became co-manager in mid-1997. Mr. Canoni has been with the Aetna
organization since 1980 and has over 26 years of experience in the investment
business. Mr. Bragdon has been with Aetna since 1978 and has 27 years of
experience in the investment business.


X.PROSSER-97-2                                               November 6, 1997



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