INVESCO VARIABLE INVESTMENT FUNDS, INC.
INVESCO VIF - Industrial Income Fund
INVESCO VIF - Health Sciences Fund
INVESCO VIF - Small Company Growth Fund
INVESCO VIF - Total Return Fund
INVESCO VIF - Technology Fund
INVESCO VIF - High Yield Fund
INVESCO VIF - Utilities Fund
INVESCO VIF - Dynamics Fund
INVESCO VIF - Growth Fund
Supplement to Prospectus dated May 1, 1997
The section of above Funds' prospectus entitled "Management" is amended to
(1) delete the twenty-seventh paragraph and (2) insert the following new
paragraph in its place:
Out of the advisory fee which it receives from each Fund, INVESCO pays
that Fund's sub-adviser a monthly subadvisory fee. No fee is paid by any
Fund to its subadviser. The subadvisory fees for the Industrial Income and
Total Return Funds are each computed at the following annual rates: prior
to January 1, 1998, 0.375% on the first $500 million of each Fund's average
net assets, 0.325% on the next $500 million of each Fund's average net
assets and 0.275% on each Fund's average net assets in excess of $1
billion; and effective January 1, 1998, 0.25% on the first $500 million of
each Fund's average net assets, 0.2167% on the next $500 million of each
Fund's average net assets, and 0.1833% on each Fund's average net assets in
excess of $1 billion. The subadvisory fees for the Health Sciences, Small
Company Growth, and Technology Funds are each computed at the following
annual rates: prior to January 1, 1998, 0.25% on the first $200 million of
each Fund's average net assets and 0.20% on each Fund's average net assets
in excess of $200 million; and effective January 1, 1998, 0.25% on the
first $350 million of each Fund's average net assets, 0.2167% on the next
$350 million of each Fund's average net assets, and 0.1833% on each Fund's
average net assets in excess of $700 million. The subadvisory fees for the
High Yield and Utilities Funds are each computed at the following annual
rates: prior to January 1, 1998, 0.300% on the first $500 million of each
<PAGE>
Fund's average net assets, 0.275% on the next $500 million of each Fund's
average net assets and 0.225% on each Fund's average net assets in excess
of $1 billion; and effective January 1, 1998, 0.20% on the first $500
million of each Fund's average net assets, 0.1833% on the next $500 million
of each Fund's average net assets, and 0.15% on each Fund's average net
assets in excess of $1 billion. The subadvisory fee for the Dynamics Fund
is computed at the following annual rates: prior to January 1, 1998, 0.25%
on the first $200 million of the Fund's average net assets and 0.20% on the
Fund's average net assets in excess of $200 million; and effective January
1, 1998, 0.20% on the first $350 million of the Fund's average net assets,
0.1833% on the next $350 million of the Fund's average net assets and
0.1667% on the Fund's average net assets in excess of $700 billion. The
subadvisory fee for the Growth Fund is computed at the following annual
rates: prior to January 1, 1998, 0.25% of the Fund's average net assets,
and effective January 1, 1998, 0.2833% of the Fund's average net assets.
The date of this Supplement is December 31, 1997.
<PAGE>
INVESCO VARIABLE INVESTMENT FUNDS, INC.
Supplement to Statement of Additional Information
dated May 1, 1997
The Section of the above Company's Statement of Additional Information entitled
"Management -- Sub-Advisory Agreement" is amended to (1) delete the fourth
paragraph and (2) substitute the following new paragraph in its place:
The INVESCO Trust Sub-Agreement provides that as compensation for its
services, INVESCO Trust shall receive from INVESCO, at the end of each
month, a fee based upon the average daily value of the applicable Fund's
net assets. The sub-advisory fee for the Industrial Income Fund and Total
Return Funds are computed at the following annual rates: prior to January
1, 1998, 0.375% on the first $500 million of each Fund's average net
assets, 0.325% on the next $500 million of each Fund's average net assets
and 0.275% on each Fund's average net assets in excess of $1 billion; and
effective January 1, 1998, 0.25% on the first $500 million of the Fund's
average net assets, 0.2166% on the next $500 million of the Fund's average
net assets, and 0.1833% on the Fund's average net assets in excess of $1
billion. The sub-advisory fee for the Health Sciences, Small Company Growth
and Technology Funds are computed at the following annual rates: prior to
January 1, 1998, 0.25% on the first $200 million of each Fund's average net
assets and 0.20% on each Fund's average net assets in excess of $200
million; and effective January 1, 1998, 0.25% on the first $200 million of
each Fund's average net assets, 0.2167% on the next $500 million of each
Fund's average net assets, and 0.1833% on each Fund's average net assets in
excess of $700 million. The sub-advisory fee for the High Yield and
Utilities Funds are computed at the following annual rates: prior to
January 1, 1998, 0.300% on the first $500 million of each Fund's average
net assets, 0.275% on the next $500 million of each Fund's average net
assets and 0.225% on each Fund's average net assets in excess of $1
billion; and effective January 1, 1998, 0.20% on the first $500 million of
each Fund's average net assets, 0.1833% on the next $500 million of each
Fund's average net assets, and 0.15% on each Fund's average net assets in
excess of $1 billion. The subadvisory fee for the Dynamics Fund is computed
at the following annual rates: prior to January 1, 1998, 0.25% on the first
$200 million of the Fund's average net assets and 0.20% on the Fund's
average net assets in excess of $200 million; and effective January 1,
1998, 0.20% on the first $350 million of the Fund's average net assets,
0.1833% on the next $350 million of the Fund's average net assets and
0.1677% on the Fund's average net assets in excess of $700 billion.
The date of this supplement is December 31, 1997.
