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As Filed Pursuant to Rule 497
SEC File No. 33-32569
ANCHOR NATIONAL LIFE INSURANCE COMPANY
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VARIABLE ANNUITY ACCOUNT ONE
SUPPLEMENT TO THE ICAP VARIABLE ANNUITY PROSPECTUS
Dated May 1, 2000
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The following replaces the investment charges and corresponding examples
for the CAPITAL APPRECIATION PORTFOLIO (the "Portfolio") of the Anchor Series
Trust contained in the chart under the heading "Annual Trust Expenses" on page 7
of the Prospectus:
MANAGEMENT OTHER TOTAL ANNUAL
FEE EXPENSES EXPENSES
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Capital Appreciation+ 0.70% 0.04% 0.74%
+The expenses noted here are restated to reflect an estimate of fees for
the Portfolio for the current fiscal year. On May 18, 2000, the Board of
Trustees of Anchor Series Trust (the "Trust") approved an increase in the
underlying management fees for the Portfolio for the most recent fiscal
year from 0.67% to 0.74%. On July 19, 2000, the shareholders of the
Portfolio also approved the increase. The fee increase is effective August
1, 2000.
Also, the Examples on page 8 of the Prospectus for the Portfolio are
amended as follows:
VARIABLE PORTFOLIO 1 YEAR 3 YEARS 5 YEARS 10 YEARS
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Capital Appreciation (A)$72 $98 $127 $252
(B)$22 $68 $117 $252
Date: August 1, 2000
PLEASE KEEP THIS SUPPLEMENT WITH YOUR PROSPECTUS.
