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SUPPLEMENT dated October 1, 1998
to PROSPECTUS dated May 1, 1998
of USAA Life Investment Trust
This supplement amends certain disclosures contained in the Prospectus.
Please retain it for future reference.
Year 2000 Disclosure
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Like other organizations around the world, the Funds could be adversely affected
if the computer systems used by their service providers or companies in which
they invest do not properly process and calculate information that relates to
dates beginning January 1, 2000, and beyond. This situation may occur because
for many years computer programmers used only two digits to describe years, such
as 98 for 1998. A program written in this manner may not work when it
encounters the year 00. The Trust has been advised by USAA Life and USAA IMCO
that to confront this situation, USAA companies have spent much effort and
money; and they expect to have their systems ready for the Year 2000 by mid-
1999. In addition, they are actively assessing the Year 2000 readiness of the
Trust's service providers and companies in whose securities the Funds invest.
It is not possible for the Trust to say that you will experience no effect from
this situation, but the Trust has been advised that USAA companies are making a
large effort to avoid any ill effects upon Contract and Policy Owners.
Special Risk Considerations
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THE SECTION ENTITLED "SPECIAL RISK CONSIDERATIONS" IS SUPPLEMENTED BY ADDING THE
FOLLOWING PARAGRAPH TO THE SUBSECTION CONCERNING FOREIGN SECURITIES.
Euro Conversion Risk. Beginning January 1, 1999, countries participating in the
European Monetary Union will begin converting their currencies into a new
currency unit called the Euro. The conversion to the Euro, which will continue
in stages through 2002, is expected to reshape the financial markets, banking
systems, and monetary policies in Europe and other parts of the world and could
adversely affect the Fund's investments in these markets. In addition, a
failure of the clearing and settlement systems in these markets to handle the
Euro conversion could adversely affect the Fund.
Portfolio Managers
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THE SECOND PARAGRAPH OF THE SUB-SECTION ENTITLED "WORLD GROWTH FUND" UNDER THE
SECTION ENTITLED "PORTFOLIO MANAGERS" IS REVISED TO READ AS FOLLOWS:
World Growth Fund.
Effective October 1, 1998, Curt Rohrman, Assistant Vice President of Equity
Investments at USAA IMCO, replaces R. David Ullom, Assistant Vice President of
Equity Investments at USAA IMCO, as the portfolio manager of the domestic
component of the World Growth Fund. Mr. Rohrman has 10 years of investment
management experience and has been associated with USAA IMCO for three years.
Prior to joining USAA IMCO, he worked for CS First Boston Corporation from June
1988 to March 1995. He earned the Chartered Financial Analyst designation in
1991 and is a member of the Association for Investment Management and Research
and the San Antonio Financial Analysts Society, Inc. Mr. Rohrman holds a
Masters of Business Administration from the University of Texas at Austin and a
Bachelor of Business Administration degree from Texas Christian University.
