ANCHOR NATIONAL LIFE INSURANCE COMPANY
VARIABLE ANNUITY ACCOUNT TWO
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SUPPLEMENT TO THE PROSPECTUS DATED MARCH 1, 1995
Delete the ANNUAL TRUST EXPENSES table on page 10 and replace with the
following:
*ANNUAL TRUST EXPENSES
(as a percentage of average net assets for the period
March 1, 1995 (Inception Date) to August 31, 1995)
Advisory Administration Other Total Annual
Fee Fee Expenses Expenses
-------- -------------- -------- ------------
International Equity .80% .20 .10 1.10%
Capital Growth .60% .20 .10 .90%
Growth and Income .60% .20 .10 .90%
Asset Allocation .55% .20 .10 .85%
U.S. Treasury Income .50% .20 .10 .80%
Money Market .25% .20 .10 .55%
________________
* During the period for which fund expenses are reported, the investment
adviser waived a portion of fees and assumed a portion of expenses for the
Portfolios. If all fees and expenses had been incurred by the Portfolios,
the ratio of expenses to average new asset for each Portfolio would have been
as follows: International Equity 2.90%; Capital Growth 1.70%; Growth and
Income 1.70%; Asset Allocation 1.80%; U.S. Treasury Income 1.50%; and Money
market 1.00%.
Delete the EXAMPLES table on page 11 and replace with the following:
If you surrender your If you do not surrender
contract at the end your contract: You would
of the applicable time pay the following
period: You would pay expenses on a $1,000
the following expenses investment, assuming a
on a $1,000 investment, 5% annual return on
assuming a 5% annual assets:
return on assets:
1 Year 3 Years 1 Year 3 Years
International Equity $86 $130 $26 $80
Capital Growth $84 $124 $24 $74
Growth and Income $84 $124 $24 $74
Asset Allocation $84 $123 $24 $73
U.S. Treasury Income $83 $121 $23 $71
Money Market $81 $114 $21 $64
Date: September 29, 1995
Please keep this Supplement with your Prospectus
