INVESCO VARIABLE INVESTMENT FUNDS, INC.
Supplement to Prospectus
dated May 1, 1996
The paragraph on the cover page of the prospectus describing the investment
objective of the INVESCO VIF - Industrial Income Portfolio (the "Industrial
Income Fund") is hereby amended to read as follows:
The investment objective of the Industrial Income Fund is to seek
the best possible current income, while following sound investment
practices. Capital growth potential is an additional consideration
in the selection of portfolio securities. The Fund normally invests
at least 65% of its total assets in dividend-paying common stocks.
Up to 10% of the Fund's total assets may be invested in equity
securities that do not pay regular dividends. The remaining assets
are invested in other income-producing securities, such as corporate
bonds. The Fund also has the flexibility to invest other types of
securities.
The third sentence of the third paragraph in the section of the Company's
prospectus entitled "Summary" is hereby amended to read as follows:
The Industrial Income Fund seeks to attain its investment objective
by investing at least 65% of its total assets in dividend-paying
common stocks, with up to 10% of its total assets invested in equity
securities that do not pay regular dividends and the remainder
invested in other income-producing securities, such as corporate
bonds.
(Note: for prospectuses covering only the Industrial Income Fund, the foregoing
amendment applies to the second sentence of such paragraph.)
The second and third paragraphs in the section of the Fund's prospectus entitled
"Investment Objectives and Policies" are hereby amended to read as follows:
Industrial Income Fund. The investment objective of the
Industrial Income Fund is to seek the best possible current income
while following sound investment practices. Capital growth potential
is an additional consideration in the selection of portfolio
securities.
The Industrial Income Fund normally invests at least 65% of its
total assets in dividend-paying common stocks. Up to 10% of the
Fund's total assets may be invested in equity securities that do not
pay regular dividends. The remaining assets are invested in other
income-producing securities, such as corporate bonds and other
straight debt securities ("debt securities"). The Fund also has the
flexibility to invest in preferred stocks and convertible bonds.
There is no maximum limit on the amount of equity or debt securities
in which the Fund may invest. In periods of uncertain market and
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economic conditions, as determined by Fund Management, the Fund may
depart from its basic investment objective and assume a defensive
position with up to 100% of its total assets temporarily invested in
high quality corporate bonds, or notes and government issues, or
held in cash.
The date of this Supplement is May 1, 1996.
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INVESCO Variable Investment Funds, Inc.
Supplement to Statement of Additional Information
Dated May 1, 1996
The second paragraph on the cover page of the Funds' Statement of Additional
Information is hereby amended to read as follows:
Industrial Income Fund:
to seek the best possible current income, while following sound investment
practices. Capital growth potential is an additional consideration in the
selection of portfolio securities. The Fund normally invests at least 65%
of its total assets in dividend-paying common stocks. Up to 10% of the
Fund's total assets may be invested in equity securities that do not pay
regular dividends. The remaining assets are invested in other
income-producing securities, such as corporate bonds. The Fund also has
the flexibility to invest other types of securities.
The section of the Funds' Statement of Additional Information entitled
"Management -- Officers and Directors of the Company" is hereby amended to (1)
delete the second through the nineteenth paragraphs and (2) substitute the
following new paragraphs in their place:
All of the officers and directors of the Company hold comparable
positions with INVESCO Diversified Funds, Inc., INVESCO Dynamics Fund,
Inc., INVESCO Emerging Opportunity Funds, Inc., INVESCO Growth Fund, Inc.,
INVESCO Income Funds, Inc., INVESCO Industrial Income Fund, Inc., INVESCO
International Funds, Inc., INVESCO Money Market Funds, Inc., INVESCO
Multiple Asset Funds, Inc., INVESCO Specialty Funds, Inc., INVESCO
Strategic Portfolios, Inc., and INVESCO Tax-Free Income Funds, Inc. All of
the directors of the Company also serve as trustees of INVESCO Value
Trust. In addition, all of the directors of the Company also are directors
of INVESCO Advisor Funds, Inc. (formerly known as The EBI Funds, Inc.);
and, with the exception of Mr. Hesser, trustees of INVESCO Treasurer's
Series Trust. All of the officers of the Company also hold comparable
positions with INVESCO Value Trust. Set forth below is information with
respect to each of the Company's officers and directors. Unless otherwise
indicated, the address of the directors and officers is Post Office Box
173706, Denver, Colorado 80217-3706. Their affiliations represent their
principal occupations during the past five years.
CHARLES W. BRADY,*+ Chairman of the Board. Chief
Executive Officer and Director of INVESCO PLC, London, England,
and of various subsidiaries thereof. Chairman of the Board of
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INVESCO Advisor Funds, Inc., INVESCO Treasurer's Series Trust
and The Global Health Sciences Fund. Address: 1315 Peachtree
Street, NE, Atlanta, Georgia. Born: May 11, 1935.
FRED A. DEERING,+# Vice Chairman of the Board. Vice
Chairman of INVESCO Advisor Funds, Inc., and INVESCO
Treasurer's Series Trust. Trustee of The Global Health Sciences
Fund. Formerly, Chairman of the Executive Committee and
Chairman of the Board of Security Life of Denver Insurance
Company, Denver, Colorado; Director of ING America Life Insurance
Company, Urbaine Life Insurance Company and Midwestern United
Life Insurance Company. Address: Security Life Center, 1290
Broadway, Denver, Colorado. Born: January 12, 1928.
DAN J. HESSER,+* President and Director. Chairman of the
Board, President, and Chief Executive Officer of INVESCO Funds
Group, Inc.; Director of INVESCO Trust Company. Trustee of The
Global Health Sciences Fund. Born: December 27, 1939.
VICTOR L. ANDREWS,** Director. Professor Emeritus,
Chairman Emeritus and Chairman of the CFO Roundtable of the
Department of Finance of Georgia State University, Atlanta, Georgia;
President, Andrews Financial Associates, Inc. (consulting firm);
formerly, member of the faculties of the Harvard Business School
and the Sloan School of Management of MIT. Dr. Andrews is also
a Director of The Southeastern Thrift and Bank Fund, Inc. and The
Sheffield Funds, Inc. Address: 4625 Jettridge Drive, Atlanta,
Georgia. Born: June 23, 1930.
BOB R. BAKER,+** Director. President and Chief Executive
Officer of AMC Cancer Research Center, Denver, Colorado, since
January 1989; until mid-December 1988, Vice Chairman of the Board
of First Columbia Financial Corporation (a financial institution),
Englewood, Colorado. Formerly, Chairman of the Board and Chief
Executive Officer of First Columbia Financial Corporation. Address:
1775 Sherman Street, #1000, Denver, Colorado. Born: August 7,
1936.
LAWRENCE H. BUDNER,# Director. Trust Consultant; prior
to June 30, 1987, Senior Vice President and Senior Trust Officer of
InterFirst Bank, Dallas, Texas. Address: 7608 Glen Albens Circle,
Dallas, Texas. Born: July 25, 1930.
DANIEL D. CHABRIS,+# Director. Financial Consultant;
Assistant Treasurer of Colt Industries Inc., New York, New York,
from 1966 to 1988. Address: 15 Sterling Road, Armonk, New York.
Born: August 1, 1923.
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A.D. FRAZIER, JR.*,** Director. Chief Operating Officer of the
Atlanta Committee for the Olympic Games. From 1982 to 1991, Mr.
Frazier was employed in various capacities by First Chicago Bank,
most recently as Executive Vice President of the North American
Banking Group. Trustee of The Global Health Sciences Fund.
Director of Magellan Health Services, Inc. and of Charter Medical
Corp. Address: 250 Williams Street, Suite 6000, Atlanta, Georgia.
Born: June 23, 1944.
HUBERT L. HARRIS, JR.*, Director. President of INVESCO
Services, Inc. (since January 1990). Director of INVESCO PLC and
Chief Financial Officer of INVESCO Individual Services Group.
Member of the Executive Committee of the Alumni Board of Trustees
of Georgia Institute of Technology. Address: 1315 Peachtree
Street, N.E., Atlanta, Georgia. Born: July 15, 1943.
KENNETH T. KING,** Director. Formerly, Chairman of the
Board of The Capitol Life Insurance Company, Providence
Washington Insurance Company, and Director of numerous
subsidiaries thereof in the U.S. Formerly, Chairman of the Board of
The Providence Capitol Companies in the United Kingdom and
Guernsey. Chairman of the Board of the Symbion Corporation (a
high technology company) until 1987. Address: 4080 North Circulo
Manzanillo, Tucson, Arizona. Born: November 16, 1925.
JOHN W. McINTYRE,# Director. Retired. Formerly, Vice
Chairman of the Board of Directors of The Citizens and Southern
Corporation and Chairman of the Board and Chief Executive Officer
of The Citizens and Southern Georgia Corp. and Citizens and
Southern National Bank. Director of Golden Poultry Co., Inc.
Trustee of The Global Health Sciences Fund and Gables Residential
Trust. Address: 7 Piedmont Center, Suite 100, Atlanta, Georgia.
Born: September 14, 1930.
GLEN A. PAYNE, Secretary. Senior Vice President, General
Counsel and Secretary of INVESCO Funds Group, Inc. and
INVESCO Trust Company. Formerly, employee of a U.S. regulatory
agency, Washington, D.C., (June 1973 through May 1989.) Born:
September 25, 1947.
RONALD L. GROOMS, Treasurer. Senior Vice President and
Treasurer of INVESCO Funds Group, Inc. and INVESCO Trust
Company since January 1988. Born: October 1, 1946.
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WILLIAM J. GALVIN, JR., Assistant Secretary. Senior Vice
President of INVESCO Funds Group, Inc. and Trust Officer of
INVESCO Trust Company. Formerly, Vice President of 440
Financial Group from June 1990 to August 1992; Assistant Vice
President of Putnam Companies from November 1986 to June 1990.
Born: August 21, 1956.
ALAN I. WATSON, Assistant Secretary. Vice President of
INVESCO Funds Group, Inc. and Trust Officer of INVESCO Trust
Company. Born: September 14, 1941.
JUDY P. WIESE, Assistant Treasurer. Vice President of
INVESCO Funds Group, Inc. and Trust Officer of INVESCO Trust
Company. Born: February 3, 1948.
The ninth paragraph of the section of the Funds' Statement of Additional
Information entitled "Management - Director Compensation" (the paragraph
immediately following footnote 6) is hereby amended to read as follows:
Messrs. Brady, Harris and Hesser, as "interested persons" of the
Company and other funds in the INVESCO Complex, receive compensation as
officers or employees of INVESCO or its affiliated companies, and do not
receive any director's fees or other compensation from the Company or
other funds in the INVESCO Complex for their services as directors.
Because of the possibility that A.D. Frazier, Jr. may become employed by a
company affiliated with INVESCO at some point in the future, he was deemed
to be an "interested person" of the Company and of the other funds in the
INVESCO Complex effective May 1, 1996. Until such time as Mr. Frazier
actually becomes employed by an INVESCO-affiliated company, however, he
will continue to receive the same director's fees and other compensation
as the Company's independent directors.
The date of this Supplement is May 1, 1996.
