ANCHOR NATIONAL LIFE INSURANCE COMPANY
VARIABLE ANNUITY ACCOUNT ONE
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SUPPLEMENT TO ICAP PROSPECTUS DATED FEBRUARY 29, 1996
Effective July 1, 1996, Owners may elect to have annuity
payments or amounts withdrawn pursuant to the Systematic Withdrawal
Program electronically wired to his or her financial institution by
completing the instructions on the Electronic Fund Transfer Form or
by written request delivered to the Company at its Annuity Service
Center. A voided check (for checking accounts), the account number
and bank ABA number must accompany all requests. Electronic transfers
may also be requested on the Systematic Withdrawal Request Form or the
Annuity Option Selection Form.
The Company reserves the right to modify, suspend or terminate
the availability of electronic fund transfers at any time.
Date: July 1, 1996
Please keep this Supplement with your Prospectus
