<PAGE> 1
AIM VARIABLE INSURANCE FUNDS, INC.
AIM V.I. CAPITAL APPRECIATION FUND
Supplement dated July 1, 1999
to the Prospectus dated May 3, 1999
The section entitled "FUND MANAGEMENT-PORTFOLIO MANAGERS" on page 3 of the
prospectus should be deleted in its entirety and replaced with the following:
"PORTFOLIO MANAGERS
The advisor uses a team approach to investment management. The individual
members of the team who are primarily responsible for the day-to-day management
of the fund's portfolio, all of whom are officers of A I M Capital Management,
Inc., a wholly owned subsidiary of the advisor, are
o David P. Barnard, Senior Portfolio Manager, who has been
responsible for the fund since 1993 and has been
associated with the advisor and/or its affiliates since
1982.
o Robert M. Kippes, Senior Portfolio Manager, who has been
responsible for the fund since 1993 and has been
associated with the advisor and/or its affiliates since
1989.
o Christopher P. Perras, Portfolio Manager, who has been
responsible for the fund since 1999 and has been
associated with the advisor and/or its affiliates since
1999. From 1997 to 1999 Mr. Perras was an equity analyst
at Van Wagoner Capital Management. From 1995 to 1997 he
was an Associate Portfolio Manager at Van Kampen American
Capital Asset Management, Inc.
o Charles D. Scavone, Senior Portfolio Manager, who has been
responsible for the fund since 1998 and has been
associated with the advisor and/or its affiliates since
1996. From 1994 to 1996 he was an Associate Portfolio
Manager for Van Kampen American Capital Asset Management,
Inc.
o Kenneth A. Zschappel, Senior Portfolio Manager, who has
been responsible for the fund since 1999 and has been
associated with the advisor and/or its affiliates since
1990."
<PAGE> 2
AIM VARIABLE INSURANCE FUNDS, INC.
AIM V.I. DIVERSIFIED INCOME FUND
Supplement dated July 1, 1999
to the Prospectus dated May 3, 1999
The section entitled "FUND MANAGEMENT-PORTFOLIO MANAGERS" on page 3 of the
prospectus should be deleted in its entirety and replaced with the following:
"PORTFOLIO MANAGERS
The advisor uses a team approach to investment management. The individual
members of the team who are primarily responsible for the day-to-day management
of the fund's portfolio, all of whom are officers of A I M Capital Management,
Inc., a wholly owned subsidiary of the advisor, are
o Robert G. Alley, Senior Portfolio Manager, who has been
responsible for the fund since 1993 and has been
associated with the advisor and/or its affiliates since
1992.
o Jan H. Friedli, Portfolio Manager, who has been
responsible for the fund since 1999 and has been
associated with the advisor and/or its affiliates since
1999. From 1997 to 1999, he was global fixed-income
Portfolio Manager for Nicholas-Applegate Capital
Management. From 1994 to 1997, he was international
fixed-income trader and analyst for Strong Capital
Management.
o Carolyn L. Gibbs, Senior Portfolio Manager, who has been
responsible for the fund since 1995 and has been
associated with the advisor and/or its affiliates since
1992.
o Kevin E. Rogers, Senior Portfolio Manager, who has been
responsible for the fund since 1999 and has been
associated with the advisor and/or its affiliates since
1991."
<PAGE> 3
AIM VARIABLE INSURANCE FUNDS, INC.
AIM V.I. GLOBAL GROWTH AND INCOME FUND
Supplement dated July 1, 1999
to the Prospectus dated May 3, 1999
The section entitled "FUND MANAGEMENT-PORTFOLIO MANAGERS" on page 2 of the
prospectus should be deleted and replaced with the following:
"PORTFOLIO MANAGERS
The advisor uses a team approach to investment management. The individual
members of the team who are primarily responsible for the day-to-day management
of the fund's portfolio, all of whom are officers of A I M Capital Management,
Inc., a wholly owned subsidiary of the advisor, are
o Paul Griffiths, Portfolio Manager, who has been
responsible for the fund since 1999 and has been
associated with the advisor and/or its affiliates since
1994.
o Michael Lindsell, Portfolio Manager, who has been
responsible for the fund since 1999 and has been
associated with the advisor and/or its affiliates since
1992.
o John Nadell, Portfolio Manager, who has been responsible
for the fund since 1999 and has been associated with the
advisor and/or its affiliates since 1994.
o Michael McDonagh, Portfolio Manager, who has been
responsible for the fund since 1999 and has been
associated with the advisor and/or its affiliates since
1977."
<PAGE> 4
AIM VARIABLE INSURANCE FUNDS, INC.
AIM V.I. INTERNATIONAL EQUITY FUND
Supplement dated July 1, 1999
to the Prospectus dated May 3, 1999
The section entitled "FUND MANAGEMENT-PORTFOLIO MANAGERS" on page 3 of the
prospectus should be deleted in its entirety and replaced with the following:
"PORTFOLIO MANAGERS
The advisor uses a team approach to investment management. The individual
members of the team who are primarily responsible for the day-to-day management
of the fund's portfolio, all of whom are officers of A I M Capital Management,
Inc., a wholly owned subsidiary of the advisor, are
o A. Dale Griffin III, Senior Portfolio Manager, who has
been responsible for the fund since 1993 and has been
associated with the advisor and/or its affiliates since
1989.
o Jason T. Holzer, Portfolio Manager, who has been
responsible for the fund since 1999 and has been
associated with the advisor and/or its affiliates since
1996. From 1994 to 1996 he was an associate with JMB
Realty.
o Clas G. Olsson, Senior Portfolio Manager, who has been
responsible for the fund since 1997 and has been
associated with the advisor and/or its affiliates since
1994.
o Barrett K. Sides, Portfolio Manager, who has been
responsible for the fund since 1995 and has been
associated with the advisor and/or its affiliates since
1990."
<PAGE> 5
AIM VARIABLE INSURANCE FUNDS, INC.
AIM V.I. TELECOMMUNICATIONS FUND
Supplement dated July 1, 1999
to the Prospectus dated May 3, 1999
The section entitled "FUND MANAGEMENT-PORTFOLIO MANAGERS" on page 2 of the
prospectus should be deleted and replaced with the following:
"PORTFOLIO MANAGERS
The advisor uses a team approach to investment management. The individual
members of the team who are primarily responsible for the day-to-day management
of the fund's portfolio, all of whom are officers of A I M Capital Management,
Inc., a wholly owned subsidiary of the advisor, are
o David P. Barnard, Senior Portfolio Manager, who has been
responsible for the fund since 1999 and has been
associated with the advisor and/or its affiliates since
1982.
o Claude C. Cody IV, Senior Portfolio Manager, who has been
responsible for the fund since 1999 and has been
associated with the advisor and/or its affiliates since
1992.
o Bradley T. Conger, Portfolio Manager, who has been
responsible for the fund since 1999 and has been
associated with the advisor and/or its affiliates since
1997. From 1993 to 1997, Mr. Conger was a member of the
Goldman Sachs international equity sales team.
o Robert M. Kippes, Senior Portfolio Manager, who has been
responsible for the fund since 1999 and has been
associated with the advisor and/or its affiliates since
1989.
o Jonathan C. Schoolar, Senior Portfolio Manager, who has
been responsible for the fund since 1999 and has been
associated with the advisor and/or its affiliates since
1986.
o Kenneth A. Zschappel, Senior Portfolio Manager, who has
been responsible for the fund since 1999 and has been
associated with the advisor and/or its affiliates since
1990."
<PAGE> 6
AIM VARIABLE INSURANCE FUNDS, INC.
AIM V.I. GLOBAL UTILITIES FUND
Supplement dated July 1, 1999
to the Prospectus dated May 3, 1999
The section entitled "FUND MANAGEMENT-PORTFOLIO MANAGERS" on page 3 of the
prospectus should be deleted in its entirety and replaced with the following:
"PORTFOLIO MANAGERS
The advisor uses a team approach to investment management. The individual
members of the team who are primarily responsible for the day-to-day management
of the fund's portfolio, all of whom are officers of A I M Capital Management,
Inc., a wholly owned subsidiary of the advisor, are
o Robert G. Alley, Senior Portfolio Manager, who has been
responsible for the fund since 1994 and has been
associated with the advisor and/or its affiliates since
1992.
o Claude C. Cody IV, Senior Portfolio Manager, who has been
responsible for the fund since 1994 and has been
associated with the advisor and/or its affiliates since
1992.
o Carolyn L. Gibbs, Senior Portfolio Manager, who has been
responsible for the fund since 1998 and has been
associated with the advisor and/or its affiliates since
1992.
o Craig A. Smith, Senior Portfolio Manager, who has been
responsible for the fund since 1996 and has been
associated with the advisor and/or its affiliates since
1989.
o Meggan M. Walsh, Portfolio Manager, who has been
responsible for the fund since 1998 and has been
associated with the advisor and/or its affiliates since
1991."
