<PAGE> 1
THE AAL VARIABLE PRODUCT SERIES FUND,
INC. CROSS REFERENCE SHEET
Pursuant to Rule 495 under the Securities Act of 1933 indicating the location
of the information called for by the Items of Parts A and B of Form N-1A.
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Item No. Caption Location
-------- ------- --------
<S> <C> <C>
Part A
1. Cover Page Cover Page
2. Synopsis Introduction
3. Condensed Financial Information Financial Highlights; Introduction
4. General Description of Registrant, Cover Page; Introduction; Investment
Depositor, and Portfolio Companies Objectives and Policies; Other
Investment and Risk Factors Regarding
the Portfolios
5. Management of the Fund Management of the Fund
5A. Management's Discussion of Fund Not Applicable
Performance
6. Capital Stock and Other Securities Description of Shares; Shareholder
Inquiries; Dividends, Distributions and Taxes
7. Purchase of Securities Being Offered Purchase and Redemption of Shares;
Net Asset Value
8. Redemption or Repurchase Purchase and Redemption of Shares;
Other Investment and Risk Factors
Regarding The Portfolios--Repurchase
Agreements and Borrowing
9. Pending Legal Proceedings Not applicable
Part B
10. Cover Page Cover Page
11. Table of Contents Table of Contents
12. General Information and History Not Applicable
13. Investment Objectives and Policies Introduction; Investment Techniques;
Options and Futures; Investment
Restrictions
14. Management of the Fund Management of the Fund--Board of
Directors and Executive Officers
15. Control Persons and Principal Management of the Fund--Principal
Holders of Securities Holders of Securities
16. Investment Advisory and Other Services Management of the Fund--The
Investment Adviser; Management of the
Fund--Custodian, Transfer Agent and
Independent Auditors for the Fund (as
supplemented by The Statement of
Additional Information Supplement
dated July 22, 1996)
17. Brokerage Allocation and Other Portfolio Transactions
Practices
18. Capital Stock and Other Securities Not applicable
19. Purchase, Redemption and Pricing of Purchases and Redemptions; Pricing
Securities Being Offered Considerations
20. Tax Status Dividends and Distributions
21. Underwriters Not applicable
22. Calculation of Performance Data Calculation of Yield and Total
Return
23. Financial Statements Financial Statements
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Part C
Information required to be included in Part C is set forth under the
appropriate Item, so numbered in Part C to this Registration Statement.
-i-
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SUPPLEMENT DATED JULY 22, 1996 TO
PROSPECTUS OF AAL VARIABLE ANNUITY ACCOUNT I DATED MAY 1, 1996
AND TO PROSPECTUS OF AAL VARIABLE PRODUCT SERIES FUND, INC. DATED MAY 1, 1996
I. The following replaces the first two paragraphs under the caption
"Distribution Arrangements" at pages 25 and 26 of the Prospectus of
AAL Variable Annuity Account I:
AAL Capital Management Corp. ("AALCMC"), located at 222 West
College Avenue, Appleton, Wisconsin 54919-0007, is a wholly-
owned, indirect subsidiary of AAL and serves as principal
underwriter of the Certificates pursuant to a Principal
Underwriting and Servicing Agreement to which AALCMC and AAL,
on behalf of itself and the Variable Account, are parties.
AALCMC is a member of the National Association of Securities
Dealers, Inc. ("NASD"), and a broker-dealer registered with
the SEC under the Securities Exchange Act of 1934. The
Certificates are sold by duly licensed registered
representatives of AALCMC who are also employees of AAL and
licensed by state insurance departments to sell variable
insurance products ("AAL Representatives"). The Certificates
may also be sold by representatives of other broker-dealer
firms with which AALCMC has executed a selling agreement. In
addition, AAL may retain other firms to serve as principal
underwriters of the Certificates. AAL offers the Certificates
in all states where AAL is authorized to sell the
Certificates.
Commissions and other distribution compensation to be paid to
AAL Representatives or other broker-dealers on the sale of
Certificates will be paid by AAL and will not result in any
charge to Owners or to the Variable Account in addition to the
charges described in this Prospectus. Commissions and other
compensation paid in connection with sales of the Certificates
will not exceed 5% of the premiums received under the
Certificates.
II. The following replaces the first sentence under the caption
"Custodian, Transfer Agent and Independent Auditors" at page 18 of the
Prospectus of AAL Variable Product Series Fund, Inc.:
Citibank N.A., 111 Wall Street, New York, NY 10043,
serves as Custodian for the Fund.
<PAGE> 3
SUPPLEMENT DATED JULY 22, 1996 TO
STATEMENT OF ADDITIONAL INFORMATION OF AAL VARIABLE ANNUITY ACCOUNT I
DATED MAY 1, 1996
AND TO STATEMENT OF ADDITIONAL INFORMATION OF
AAL VARIABLE PRODUCT SERIES FUND, INC.
DATED MAY 1, 1996, AS REVISED JUNE 5, 1996
I. The following replaces the text under the caption "Principal
Underwriter" at page SAI-3 of the Statement of Additional Information
of AAL Variable Annuity Account I:
AAL Capital Management Corp. ("AALCMC"), a wholly-owned,
indirect subsidiary of AAL, serves as the principal
underwriter of the Certificates pursuant to a Principal
Underwriting and Servicing Agreement to which AALCMC and AAL,
on behalf of itself and the Variable Account, are parties.
The Certificates are sold through AAL Representatives who are
licensed by state insurance departments to sell the
Certificates and who are duly licensed registered
representatives of AALCMC. The Certificates may also be sold
by representatives of other broker-dealer firms with which
AALCMC has executed a selling agreement. In addition, AAL may
retain other firms to serve as principal underwriters of the
Certificates. The Certificates are continuously offered in
all states where AAL is authorized to sell the Certificates.
AAL paid underwriting commissions of $1,076,737 to AALCMC
during the period June 15, 1995 (commencement of the Variable
Account's operations) through December 31, 1995. Of this
amount, AALCMC retained $0.
II. The following replaces the first sentence under the caption
"Custodian, Transfer Agent and Independent Auditors for the Fund" at
page SAI-17 of the Statement of Additional Information of AAL Variable
Product Series Fund, Inc.:
Citibank N.A., 111 Wall Street, New York, NY 10043,
serves as Custodian for the Fund.
