Supplement to Proxy Statement
of Provident Growth Portfolio
of SunAmerica Series Trust
P.O. Box 54299 Los Angeles,
California
To the Shareholders of Provident
Growth Portfolio:
This letter supplements the discussion
of Proposal No. 3 in the Proxy Statement
dated February 17, 1997, relating to the
Joint Special Meeting of Shareholders of
SunAmerica Series Trust (the "Trust") and
Anchor Pathway Fund (the "Proxy Statement"),
in order to correct an inadvertent error.
Proposal No. 3 concerns a proposed new
subadvisory agreement between SunAmerica
Asset Management Corp. ("SAAMCo") and Putnam
Investment Management, Inc. ("Putnam"), the
proposed new subadviser for the Provident
Growth Portfolio (the "Portfolio"), and an
amendment to the advisory agreement (the
"Advisory Agreement") between the Trust and
SAAMCo in order to revise the breakpoints
in the fee the Portfolio pays to SAAMCo
pursuant to the Advisory Agreement.
To correct the inadvertent error, the
following paragraph is hereby substituted
for the second paragraph appearing on page
22 of the Proxy Statement:
"In identifying Putnam as the replacement
subadviser for Provident, SAAMCo reviewed,
among other things, Putnam's historical
performance record in managing growth
accounts for private account clients as
well as other investment companies, its
name recognition in the investment community,
its financial condition, and overall
commitment to the investment advisory business.
Putnam has been managing mutual funds since
1937 and serves as an investment adviser to
the funds in the Putnam Family. Putnam and
its affiliates managed assets of approximately
$173 billion as of December 31, 1996. SAAMCo
also took into account Putnam's current
normal fee schedule. The fee rate reflected
in the Putnam Subadvisory Agreement
reflects the rate agreed upon in arm's length
bargaining between SAAMCo and Putnam, and
SAAMCo believes that such fee rate is
comparable to the rate that Putnam charges
other mutual funds similar to the Portfolio
for which it serves as subadviser."
We have enclosed an additional voting
instructions card for your convenience.
If you have not yet exercised your right
to give voting instructions or if you wish
to change your voting instructions, please
fill in, date and sign the enclosed voting
instructions card and return it in the
return envelope provided. As stated in
the Proxy Statement, voting instructions
executed by contract owners may be revoked
by a written instrument received by the
Secretary of the Trust at any time before
they are exercised, by the delivery of a
later-dated voting instructions card or by
attendance at the meeting and voting in
person.
/s/ Susan L. Harris
Susan L. Harris
Secretary
March 11, 1997
