RULE 497(E)
FILE NOS. 33-55050
AND 811-6401
SUPPLEMENT DATED OCTOBER 1, 1996
TO
PROSPECTUS DATED MAY 1, 1996
FOR
LANDMARK VIPSM FUNDS
LANDMARK VIP U.S. GOVERNMENT FUND
LANDMARK VIP BALANCED FUND
LANDMARK VIP EQUITY FUND
LANDMARK VIP INTERNATIONAL EQUITY FUND
The seventh paragraph under "Management-Investment Adviser" on page 9 of the
Prospectus is hereby deleted and replaced in its entirety by the following:
Landmark VIP International Equity Fund. Trevor Forbes is based in Citibank's
London Office and is the manager of the International Equity Fund. Mr. Forbes,
who has been a manger of the International Equity Fund since it inception, is
Head of European Equity Investment for Citibank, a major component of the
investment universe of the International Equity Fund. Prior to joining Citibank
in 1991, Mr. Forbes managed the investment business of Abbey Life, a major UK
based insurance group. Mr. Forbes calls on the extensive global network of
Citibank's investment business to select securities in the world markets.
