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GT GLOBAL VARIABLE INVESTMENT FUNDS
SUPPLEMENT TO PROSPECTUS DATED MAY 1, 1997, AS REVISED MAY 1, 1997
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THE FOLLOWING REVISES AND SUPERSEDES, AS APPLICABLE, THE DISCUSSION UNDER
"MANAGEMENT" WITH RESPECT TO GT GLOBAL VARIABLE LATIN AMERICA FUND ("LATIN
AMERICA FUND"):
Andrew Boczek and Darren Read are the Portfolio Managers for the Latin America
Fund. Mr. Boczek has been a Portfolio Manager and Investment Analyst for
Chancellor LGT Asset Management (the "Manager") since 1993. From 1991 to 1993,
Mr. Boczek was an Analyst at Continental Bank Corporation. Prior thereto, he was
a Research Assistant at the International Monetary Fund from 1987 to 1990. Mr.
Read has been a Portfolio Manager for the Manager's Global Emerging Markets team
since May 1997. From 1995 to 1997, Mr. Read was a Senior Investment Analyst at
Hermes Investment Management responsible for stock selection in a number of
emerging markets and strategic asset allocation input. Prior thereto, Mr. Read
was a Chartered Accountant in the Financial Markets Division of Arthur Andersen
from 1991 to 1995.
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VARST706028 June 16, 1997
