Lehman Selected Growth Stock Portfolio
Supplement dated October 9, 1995
to Prospectus dated November 28, 1994
Lehman Brothers Global Asset Management, Inc., the Fund's investment adviser,
entered into an Asset Purchase Agreement on October 9, 1995 with AMT Capital
Advisers and Delphi Asset Management, Inc. to transfer its business relating
to the Fund to AMT Capital Advisers. The Asset Purchase Agreement
contemplates that, subject to approval by the Board of Directors of the
Company and the shareholders of the Fund, the Fund would be reorganized as a
new portfolio of AMT Capital Fund. It is contemplated that the transaction
would be completed by early 1996. The new AMT Capital Fund portfolio would
continue to be managed by Susan Hirsch, who would join Delphi Asset
Management, the sub-adviser for the newly created portfolio. AMT Capital
Advisers, Inc. would be the investment adviser and AMT Capital Services, Inc.
would serve as distributor for the new portfolio.
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