<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 May 21, 1999
to the Prospectus dated May 3, 1999
Effective May 24, 1999, the section entitled "FUND MANAGEMENT - INFRASTRUCTURE
FUND" on page 36 of the prospectus should be deleted in its entirety and
replaced with the following:
<TABLE>
<CAPTION>
Responsibilities for Business Experience
Name/Office the Fund Past 5 Years
----------------- -------------------- -------------------
<S> <C> <C>
Claude C. Cody IV Portfolio Manager Vice President of AIM Capital and Senior Portfolio
since 1999 Manager. Mr. Cody has been associated with AIM
and/or its subsidiaries since 1992.
Robert G. Alley Portfolio Manager Senior Vice President of AIM Capital and Senior
since 1999 Portfolio Manager. Mr. Alley has been associated
with AIM and/or its subsidiaries since 1992.
Craig A. Smith Portfolio Manager Vice President of AIM Capital and Senior Portfolio
since 1999 Manager. Mr. Smith has been associated with AIM
and/or its subsidiaries since 1989.
Carolyn L. Gibbs Portfolio Manager Vice President of AIM Capital and Senior Portfolio
since 1999 Manager. Ms. Gibbs has been associated with AIM
and/or its subsidiaries since 1992.
Meggan M. Walsh Portfolio Manager Vice President of AIM Capital. Ms. Walsh has been
since 1999 associated with AIM and/or its subsidiaries since
1991.
</TABLE>
<PAGE> 2
Effective May 24, 1999, the section entitled "FUND MANAGEMENT - Natural
Resources Fund" on page 36 of the prospectus should be deleted in its entirety
and replaced with the following:
<TABLE>
<CAPTION>
Responsibilities for Business Experience
Name/Office the Fund Past 5 Years
----------- -------------------- -------------------
<S> <C> <C>
Derek H. Webb Portfolio Manager Portfolio Manager since 1994
since 1995 and Analyst from 1992 to
1994, INVESCO (NY), Inc.
Roger Mortimer Portfolio Manager Portfolio Manager since 1997
since 1999 and Assistant Portfolio
Manager from 1995 to 1997.
</TABLE>
