<PAGE>
SUPPLEMENT DATED MAY 30, 1996 TO
THE PROSPECTUS DATED MAY 1, 1996 FOR
THE EXCHEQUER VARIABLE ANNUITY
A FLEXIBLE PREMIUM DEFERRED COMBINATION FIXED
AND VARIABLE ANNUITY CONTRACT
issued by
SECURITY LIFE OF DENVER INSURANCE COMPANY
and its
SECURITY LIFE SEPARATE ACCOUNT A1
This Supplement updates certain information contained in your Prospectus.
Please read it carefully and keep it with your Prospectus for future reference.
The investment objective of the INVESCO VIF Industrial Income Portfolio on page
17 of the Prospectus is hereby deleted and amended to read as follows:
INVESCO VIF Industrial Income Portfolio -- seeks the best possible current
income, while following sound investment practices. Capital growth
potential is an additional consideration in the selection of portfolio
securities. The Portfolio normally invests at least 65% of its total assets
in dividend-paying common stocks. Up to 10% of the Portfolio'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 Portfolio also has the flexibility to invest in other
types of securities.
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May 30, 1996
VIA EDGAR
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Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Security Life Separate Account A1 (the "Registrant") of
Security Life of Denver Insurance Company
File No.: 33-88794
Commissioners:
Enclosed for filing pursuant to the requirement of Rule 497(d) under the
Securities Act of 1933, as amended (the "1933 Act") is a copy of a prospectus
supplement dated May 30, 1996 to the prospectus dated May 1, 1996 of the above
referenced Registrant. The supplement describes a change in the investment
objective of the INVESCO VIF Industrial Income Portfolio, one of the underlying
funding options available through the variable annuity contracts issued through
the Registrant.
Please call the undersigned at (303) 894-4923 with any questions.
Very truly yours,
/s/: KURT W. BERNLOHR
Kurt W. Bernlohr
Assistant General Counsel
