INVESCO VARIABLE INVESTMENT FUNDS INC
497, 1998-09-30
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                     INVESCO VARIABLE INVESTMENT FUNDS, INC.
                    INVESCO VIF - Industrial Income Portfolio

                   Supplement to above Portfolio's Prospectus
                                dated May 1, 1998

The section of the above Portfolio's Prospectus entitled "Management" is amended
to (1) delete the third sentence of the ninth paragraph,  and (2) substitute the
following sentence in its place:

          Certain Fund  expenses are absorbed  voluntarily  by IFG pursuant to a
     commitment  to the Company to limit the Fund's  annual  expenses to no more
     than 0.90% of the Fund's average net assets prior to July 6, 1998 and to no
     more than 1.15% of the Fund's average net assets effective July 6, 1998.

The date of this Supplement is September 30, 1998.






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