SunAmerica Series Trust
Supplement to the Statement of Additional Information dated March
30, 1999
The date of the Statement of Additional Information is hereby
changed to March 30, 1999 as supplemented June 23, 1999
The fourth paragraph on Page B-3 is replaced by the following:
Shares of the Trust are held by separate accounts of Anchor
National Life Insurance Company, an Arizona corporation, First
SunAmerica Life Insurance Company, a New York corporation, AIG
Life Insurance Company, a Delaware corporation and American Life
Assurance Company of New York, a New York corporation. Anchor
National Life Insurance Company and First SunAmerica Life
Insurance Company are wholly-owned subsidiaries of SunAmerica
Life Insurance Company, an Arizona corporation, which is a
wholly-owned subsidiary of SunAmerica Inc., a Delaware
corporation, which in turn is a wholly-owned subsidiary of
American International Group, Inc. ("AIG"), a Delaware
corporation. AIG Life Insurance Company and American Life
Assurance Company of New York are also wholly-owned subsidiaries
of AIG.
The third full paragraph on Page B-9 of the Statement of
Additional Information is replaced with the following:
U.S. corporate high-yield fixed income securities. As described
above, a portion of the assets of the Corporate Bond, High-Yield
Bond, Worldwide High Income, MFS Total Return, Asset Allocation,
Equity Income, Real Estate, Small Company Value, MFS Mid-Cap
Growth and Emerging Markets Portfolios will be invested in U.S.
corporate high-yield fixed income securities, which offer a yield
above that generally available on U.S. corporate debt securities
in the four highest rating categories of the recognized rating
services. The Portfolios may acquire fixed income securities of
U.S. issuers, including debt obligations (e.g., bonds,
debentures, notes, equipment lease certificates, equipment trust
certificates, conditional sales contracts, commercial paper and
obligations issued or guaranteed by the U.S. government or any of
its political subdivisions, agencies or instrumentalities) and
preferred stock. These fixed income securities may have equity
features, such as conversion rights or warrants, and the
Portfolios may invest up to 10% of their total assets in equity
features, such as conversion rights or warrants. The Corporate
Bond, High-Yield Bond and Worldwide High Income Portfolios may
invest up to 10% of their total assets in equity securities other
than preferred stock (e.g., common stock, warrants and rights and
limited partnership interests). The Cash Management, Global
Bond, Worldwide High Income, Equity Income, Equity Index, Venture
Value, "Dogs" of Wall Street, Global Equity, and Emerging Markets
Portfolios may not invest in warrants, and the Cash Management,
Global Bond, Utility, Equity Income, Equity Index, Growth-Income,
Federated Value, Venture Value, "Dogs" of Wall Street and
Alliance Growth Portfolios will not invest in rights. The
Portfolios may not invest more than 5% of their total assets at
the time of acquisition in either of (1) equipment lease
certificates, equipment trust certificates, equipment trust
certificates and conditional sales contracts or (2) limited
partnership interests.
June 23, 1999
