<PAGE> 1
GT GLOBAL VARIABLE INVESTMENT FUNDS
G.T. 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
G.T. 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 December 14, 1998
to the Prospectus dated June 1, 1998,
as supplemented June 5, 1998, June 16, 1998,
June 23, 1998, July 20, 1998 and October 19, 1998
Effective December 14, 1998, sub-advisory and sub-administration responsibility
for G.T. Global Variable Investment Series' GT Global Variable Europe Fund and
GT Global Variable International Fund, and G.T. Global Variable Investment
Trust's GT Global Variable Emerging Markets Fund, GT Global Variable Global
Government Income Fund, GT Global Variable Growth & Income Fund and GT Global
Variable Latin America Fund (the "Funds") will be transferred from INVESCO
(NY), Inc. to INVESCO Asset Management Ltd., another indirect wholly owned
subsidiary of AMVESCAP PLC. A I M Advisors, Inc. ("AIM Advisors") will continue
to serve as the manager and administrator of the Funds. The transfer will not
change the fees AIM Advisors' pays for sub-advisory services and will not
change the nature of the sub-advisory services provided to the Funds or the
personnel providing such services.
Effective January 1, 1999 the following information replaces in its entirety,
the table under "MANAGEMENT - INVESTMENT MANAGEMENT AND ADMINISTRATION-EUROPE
FUND" on page
43.
<TABLE>
<CAPTION>
Responsibilities for Business Experience
Name/Office the Fund Past 5 Years
- ----------- -------- ------------
<S> <C> <C>
Steven Chamberlain Portfolio Manager Senior Portfolio Manager for
London since 1999 INVESCO Asset Management Ltd.
since 1989.
</TABLE>
Effective January 1, 1999 the following information replaces in its entirety,
the table under "MANAGEMENT - INVESTMENT MANAGEMENT AND ADMINISTRATION-LATIN
AMERICA FUND" on page 43.
<TABLE>
<CAPTION>
Responsibilities for Business Experience
Name/Office the Fund Past 5 Years
- ----------- -------- ------------
<S> <C> <C>
David Manuel Portfolio Manager Portfolio Manager for INVESCO
London since 1997 Asset Management Ltd. since
November 1997. Investment
Analyst and Portfolio Manager
for Abbey Life Investment Services
Ltd. (Bournemouth) from 1987 to 1997,
and Head of Latin American Equities
from 1994 to 1997.
</TABLE>
Effective January 1, 1999 the following information replaces in its entirety,
the table under "MANAGEMENT - INVESTMENT MANAGEMENT AND ADMINISTRATION-GLOBAL
GOVERNMENT INCOME FUND" on page 46 of the Prospectus:
<TABLE>
<CAPTION>
Responsibilities for Business Experience
Name/Office the Fund Past 5 Years
- ----------- -------- ------------
<S> <C> <C>
Thomas J. Berger Portfolio Manager Director and Head of the Global Fixed Income Group,
London since 1999 for INVESCO Asset Management Ltd. since 1997.
Director of Mercury Asset Management plc from 1993
to 1997.
Paul Griffiths Portfolio Manager Director and Head of Global Fixed Income Team and
London since 1999 Portfolio Manager for INVESCO Asset Management Group Ltd.
since June 1997. Portfolio Manager from 1994 to 1997.
Global Bond Fund Manager for Lazard Investors from
1993 to 1994.
David B. Hughes Portfolio Manager Director, Global Fixed Income Group and Portfolio
London since 1999 Manger of INVESCO Asset Management Ltd. since
December 1998. Head of Global Fixed Income, North
America, and Portfolio Manager for INVESCO (NY), Inc.
from January 1998 to December 1998. Senior Portfolio
Manager for Global/International Fixed Income for
INVESCO (NY), Inc. from July 1995 to December 1997.
Employed by Chancellor Capital from July 1995 to
October 1996. Assistant Vice President of Fiduciary Trust
Company International from 1994 to 1995. Assistant
Treasurer at Banker Trust Company from 1991 to
1994.
</TABLE>
