<PAGE> 1
VAN KAMPEN SERIES FUND, INC.
ON BEHALF OF ITS SERIES
VAN KAMPEN HIGH YIELD AND TOTAL RETURN FUND
SUPPLEMENT DATED JULY 28, 2000 TO THE
PROSPECTUS DATED OCTOBER 28, 1999,
SUPERCEDING ALL PRIOR SUPPLEMENTS
The Prospectus is hereby supplemented as follows:
(1) The Prospectus is supplemented by adding the following:
Effective August 4, 2000, the Fund will suspend the continuous offering of
its shares to new investors. However, persons in any of the following categories
may continue to purchase shares: (i) existing shareholders of the Fund as of
August 4, 2000; (ii) existing or future participants investing through
retirement plans that owned shares of the Fund as of August 4, 2000; or (iii)
existing or future participants investing through certain retirement and/or
distribution programs as described in the Fund's Statement of Additional
Information.
The Fund's Board of Directors (the "Board") reviewed and approved a proposed
reorganization (the "Reorganization") for the Fund. The Reorganization would
provide that the Fund: (i) transfer all of its assets to the Van Kampen High
Income Corporate Bond Fund (the "Acquiring Fund") in exchange solely for Class
A, B and C shares of the Acquiring Fund and the Acquiring Fund's assumption of
the liabilities of the Fund; (ii) distribute such shares of the Acquiring Fund
to the Fund's shareholders; and (iii) be dissolved. The proposed Reorganization
will be presented to the Fund's shareholders for approval at a special
shareholder meeting, called for that purpose, at a date and time to be
announced.
(2) The first paragraph in the section entitled "INVESTMENT ADVISORY
SERVICES -- INVESTMENT ADVISER -- ADVISORY AGREEMENT AND ADMINISTRATION
AGREEMENT" is hereby deleted and replaced in its entirety with the following:
The Fund retains the Adviser to manage the investment of its assets and to
place orders for the purchase and sale of its portfolio securities. Under an
investment advisory agreement between the Adviser and the Fund (the "Advisory
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Agreement"), the Fund pays the Adviser a monthly fee computed based upon an
annual rate applied to the average daily net assets of the Fund as follows:
<TABLE>
<CAPTION>
AVERAGE DAILY NET ASSETS % PER ANNUM
------------------------ -----------
<S> <C>
First $500 million............................... 0.75 of 1.00%
Next $500 million................................ 0.70 of 1.00%
Over $1 billion.................................. 0.65 of 1.00%
</TABLE>
(3) The information on the inside back cover of the Prospectus under the
heading "BOARD OF DIRECTORS AND OFFICERS -- BOARD OF DIRECTORS" is hereby
amended by deleting Paul G. Yovovich, effective April 14, 2000, and by deleting
and replacing Richard M. DeMartini* and Don G. Powell* with Mitchell M. Merin*
and Richard F. Powers, III*, effective December 15, 1999.
(4) The information on the inside back cover of the Prospectus under the
heading "BOARD OF DIRECTORS AND OFFICERS -- OFFICERS" is hereby amended by
deleting all information pertaining to Curtis W. Morell* and Tanya M. Loden*,
effective January 31, 2000, Dennis J. McDonnell*, effective March 31, 2000,
Peter W. Hegel*, effective May 31, 2000, and by deleting and replacing Stephen
L. Boyd's title of Vice President with Executive Vice President and Chief
Investment Officer and Edward C. Wood, III*, Vice President, with John H.
Zimmermann, III*, Vice President, effective April 17, 2000.
(5) The information on the inside back cover of the Prospectus under the
heading "FOR MORE INFORMATION -- INDEPENDENT ACCOUNTANTS" is hereby deleted and
replaced with the following:
DELOITTE & TOUCHE LLP
Two Prudential Plaza
180 N. Stetson Avenue
Chicago, Illinois 60601
RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
