<PAGE> 1
GT GLOBAL VARIABLE INVESTMENT FUNDS
GT GLOBAL VARIABLE INVESTMENT SERIES
GT GLOBAL MONEY MARKET FUND
GT GLOBAL VARIABLE AMERICA FUND
GT GLOBAL VARIABLE EUROPE FUND
GT GLOBAL VARIABLE INTERNATIONAL FUND
GT GLOBAL VARIABLE NEW PACIFIC FUND
GT GLOBAL VARIABLE INVESTMENT TRUST
GT GLOBAL VARIABLE EMERGING MARKETS FUND
GT GLOBAL VARIABLE GLOBAL GOVERNMENT INCOME FUND
GT GLOBAL VARIABLE GROWTH & INCOME FUND
GT GLOBAL VARIABLE INFRASTRUCTURE FUND
GT GLOBAL VARIABLE LATIN AMERICA FUND
GT GLOBAL VARIABLE NATURAL RESOURCES FUND
GT GLOBAL VARIABLE STRATEGIC INCOME FUND
GT GLOBAL VARIABLE TELECOMMUNICATIONS FUND
GT GLOBAL VARIABLE U.S. GOVERNMENT INCOME FUND
Supplement dated August 3, 1999
to the Prospectus dated May 3, 1999,
as Revised June 22, 1999
The section entitled "FUND MANAGEMENT - INTERNATIONAL FUND" on page 35 of the
prospectus should be deleted in its entirety and replaced with the following:
"INTERNATIONAL FUND
<TABLE>
<CAPTION>
Responsibilities for Business Experience
Name/Office the Fund During the Past 5 Years
----------- -------- -----------------------
<S> <C> <C>
Michael Lindsell Portfolio Manager Head of Investment Strategy for Global Equities,
since 1997 INVESCO (NY), Inc. and INVESCO GT Asset Management
PLC (London) since 1996. Chief Investment Officer,
INVESCO GT Asset Management Asia Ltd. (Hong Kong)
from 1992 to 1996. Portfolio Manager, INVESCO (NY),
Inc. from 1992 to 1996."
</TABLE>
<PAGE> 2
GT GLOBAL VARIABLE INVESTMENT FUNDS
GT GLOBAL VARIABLE INVESTMENT SERIES
GT GLOBAL MONEY MARKET FUND
GT GLOBAL VARIABLE AMERICA FUND
GT GLOBAL VARIABLE EUROPE FUND
GT GLOBAL VARIABLE INTERNATIONAL FUND
GT GLOBAL VARIABLE NEW PACIFIC FUND
GT GLOBAL VARIABLE INVESTMENT TRUST
GT GLOBAL VARIABLE EMERGING MARKETS FUND
GT GLOBAL VARIABLE GLOBAL GOVERNMENT INCOME FUND
GT GLOBAL VARIABLE GROWTH & INCOME FUND
GT GLOBAL VARIABLE INFRASTRUCTURE FUND
GT GLOBAL VARIABLE LATIN AMERICA FUND
GT GLOBAL VARIABLE NATURAL RESOURCES FUND
GT GLOBAL VARIABLE STRATEGIC INCOME FUND
GT GLOBAL VARIABLE TELECOMMUNICATIONS FUND
GT GLOBAL VARIABLE U.S. GOVERNMENT INCOME FUND
Supplement dated August 3, 1999
to the Prospectus dated May 3, 1999
The section entitled "FUND MANAGEMENT - INTERNATIONAL FUND" on page 35 of the
prospectus should be deleted in its entirety and replaced with the following:
"INTERNATIONAL FUND
<TABLE>
<CAPTION>
Responsibilities for Business Experience
Name/Office the Fund During the Past 5 Years
----------- -------- -----------------------
<S> <C> <C>
Michael Lindsell Portfolio Manager Head of Investment Strategy for Global Equities,
since 1997 INVESCO (NY), Inc. and INVESCO GT Asset Management
PLC (London) since 1996. Chief Investment Officer,
INVESCO GT Asset Management Asia Ltd. (Hong Kong)
from 1992 to 1996. Portfolio Manager, INVESCO (NY),
Inc. from 1992 to 1996."
</TABLE>
