SELECT ADVISORS VARIABLE INSURANCE TRUST, 497, 1999-07-21

SELECT ADVISORS VARIABLE INSURANCE TRUST
497, 1999-07-21

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                            SUPPLEMENT TO PROSPECTUS
                                       OF
                 TOUCHSTONE VARIABLE SERIES TRUST (THE "TRUST")
                               IN CONNECTION WITH
                      TOUCHSTONE INTERNATIONAL EQUITY FUND

                  THIS SUPPLEMENT IS DATED AS OF JULY 19, 1999

The following information replaces certain information contained in the
Prospectus of the Trust, dated May 1, 1999, and should be read in conjunction
with that Prospectus.

CHANGE IN PORTFOLIO MANAGEMENT TEAM

The second paragraph of the section entitled "Fund Sub-Advisor to the
Touchstone International Equity Fund" located on page 41 of the Prospectus
is hereby replaced with the following:

The Fund is managed by the Credit Suisse International Equity Management Team.
The team consists of  Larry Smith, Steven D. Bleiberg, Richard Watt, Alan
Zlater, Emily Alejos and Robert B. Hrabchak.