<PAGE>
PAGE 1
AEL PERSONAL PORTFOLIO VARIABLE ANNUITY PROSPECTUS
SUPPLEMENT TO PROSPECTUS DATED MAY 1, 1995
___________________________________________________________________
The following policy has been adopted relating to how the G.T.
Global: Variable New Pacific Fund ("Fund") seeks its objective of
long-term growth of capital: The Fund will seek its objective by
investing, at least 65% of its total assets in equity securities
including common and preferred stocks and warrants to acquire such
securities of issuers domiciled in the Fund's Primary Investment
Area, as listed on page 15 in the prospectus. Under the previous
policy, at least 80% of the Fund's assets, were invested in such
securities.
This policy change is effective July 1, 1995.
July 1, 1995
