INVESCO VARIABLE INVESTMENT FUNDS INC
497, 1998-07-22
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                    INVESCO VARIABLE INVESTMENT FUNDS, INC.
                       INVESCO VIF - Dynamics Portfolio


                 Supplement to Prospectus dated July 6, 1998


The section of the above Fund's Prospectus  entitled  "Management" is amended to
(1) delete the third sentence of the ninth paragraph and (2) replace it with the
following new sentence:

      The Fund  reimburses  IFG for its costs in  providing,  or  assuring  that
      Participating  Insurance Companies provide, these services in an amount up
      to $10,000 per year (the "Base Fee"), plus 0.015% of the net assets of the
      Fund,  plus,  effective July 6, 1998, an additional 0.25% of the gross new
      assets (new sales of shares,  exchanges into the Fund and  reinvestment of
      dividends and capital gain  distributions)  of the Fund (the  "Incremental
      Fees").

The date of this Supplement is July 21, 1998.










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