Putnam Growth Portfolio
(a series of SunAmerica Series Trust)
Supplement to the Prospectus dated February
28, 1997
On April 15, 1997, the Board of Trustees of
SunAmerica Series Trust approved the selection of
Putnam Investment Management, Inc. ("Putnam") as
subadviser to the Putnam Growth Portfolio (the
"Portfolio") (formerly the Provident Growth
Portfolio) effective as of April 16, 1997.
The first full sentence on page 29 of the
Prospectus contained in the Polaris Variable Annuity
prospectus for Anchor National Life Insurance Company
and the ninth sentence of the third full paragraph
on page 31 of the Prospectus contained in the
Polaris Variable Annuity prospectus for First
SunAmerica Life Insurance Company under the
subheading entitled "Investment Adviser" have been
replaced with the following sentence:
Effective April 16, 1997, the annual rates
of the investment advisory fees which apply to
the Putnam Growth Portfolio are .85% on the first
$150 million of Assets, .80% on the next $150
million of Assets and .70% on Assets over $300 million.
The third and fourth full paragraphs on page 31 of
the Prospectus contained in the Polaris Variable
Annuity prospectus for Anchor National Life Insurance
Company and the third and fourth full paragraphs on
page 34 of the Prospectus contained in the Polaris
Variable Annuity prospectus for First SunAmerica
Life Insurance Company under the subheading entitled
"Subadvisers" have been replaced with the following
paragraphs:
Putnam, a Massachusetts corporation with principal
offices at One Post Office Square, Boston,
Massachusetts, has been managing mutual funds since
1937 and serves as investment adviser to the funds
in the Putnam Family. Putnam and its
affiliates managed approximately $173 billion
in assets as of December 31, 1996. Putnam is a
subsidiary of Putnam Investments, Inc., which is
wholly owned by Marsh & McLennan Companies, Inc., a
publicly owned holding company whose principal
businesses are international insurance and reinsurance
brokerage, employee benefit and investment management.
The portion of the annual investment advisory fees
received by SAAMCo which is paid to Putnam with
respect to the Putnam Growth Portfolio is .50% on
the first $150 million of Assets, .45% on the next
$150 million of Assets and .35% on Assets over $300
million. For the fiscal year ended November 30, 1996,
SAAMCo paid to the Portfolio's previous subadviser a
fee equal to .48% of the Portfolio's average daily net
assets.
The ninth paragraph on page 32 of the Prospectus
contained in the Polaris Variable Annuity prospectus
for Anchor National Life Insurance Company and the
first paragraph on page 36 of the Prospectus contained
in the Polaris Variable Annuity prospectus for First
SunAmerica Life Insurance Company under the
subheading entitled "Portfolio Management" have been
replaced with the following paragraph:
C. Beth Cotner, Richard England, Manuel H. Weiss and
David Santos serves as co-portfolio managers of the
Putnam Growth Portfolio. Ms. Cotner, a Senior Vice
President, has been an investment professional with
Putnam since 1995. Prior to that time, she was an
Executive Vice President of Kemper Financial
Services. Mr. England, a Senior Vice President,
has been an investment professional with Putnam since
1992. Prior to that time, he was an investment officer
with Aetna Equity Investors. Mr. Weiss, a Senior Vice
President, has been an investment professional with
Putnam since 1987. Mr. Santos, a Vice President,
has been an investment professional with Putnam since
1986.
April 18, 1997
