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PACIFICA VARIABLE TRUST
EMERGING GROWTH PORTFOLIO
EQUITY VALUE PORTFOLIO
BALANCED PORTFOLIO
INTERMEDIATE BOND PORTFOLIO
MONEY MARKET PORTFOLIO
SUPPLEMENT DATED MAY 23, 1996 TO THE
PROSPECTUS DATED DECEMBER 1, 1995
On April 1, 1996, First Interstate Bancorp was merged with and into
Wells Fargo & Company ("Wells Fargo") and First Interstate Capital Management,
Inc. ("FICM"), the Portfolios' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM has
changed its name to Wells Fargo Investment Management, Inc. ("WFIM"). Pursuant
to an order of the Securities and Exchange Commission, the Portfolios have
entered into a new investment advisory agreement with WFIM dated April 1, 1996,
which has the same terms and fee rates as the Portfolios' prior investment
advisory agreement with FICM that automatically terminated on that date. The
Portfolios' new investment advisory arrangements with WFIM will be submitted to
a vote of the Portfolios' shareholders at a meeting to be held on or before July
29, 1996.
The individuals listed below are now responsible for the day-to-day
management of the Funds:
Bob Bissell (Equity Value Portfolio, Growth Portfolio and equity portion of the
Balanced Portfolio)
Mr. Bissell joined Wells Fargo at the time of its acquisition of Crocker
National Bank in 1986 and has been with the combined organization for over 22
years. Prior to joining Wells Fargo, he was a vice president and investment
counselor with M.H. Edie Investment Counseling, where he managed institutional
and high- net worth portfolios. Mr. Bissell holds a finance degree from the
University of Virginia. He is a chartered financial analyst and a member of the
Los Angeles Society of Financial Analysts.
Allen Wisniewski (Equity Value Portfolio)
Mr. Wisniewski joined Wells Fargo at the time of its acquisition of Bank of
America's consumer trust services in April 1987, where he was a portfolio
manager. He received his B.A. and M.B.A. in economics and finance from the
University of California at Los Angeles. He is a chartered financial analyst and
a member of the Los Angeles Society of Financial Analysts.
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Brian K. Mulligan (Growth Portfolio)
Mr. Mulligan joined Wells Fargo at the time of its acquisition of Crocker
National Bank in 1986, where he had been a portfolio manager. Mr. Mulligan is a
vice president and manager of the San Francisco Investment Office, where he is
primarily responsible for personal accounts including individuals, charitable
foundations and IRAs. He also covers, from a research standpoint, the
telecommunications and electric utility industries. He graduated from Skidmore
College with a B.S. in business management. Mr. Mulligan is a former member of
the Board of Governors for the Los Angeles Society of Financial Analysts and a
present member of the San Francisco Security Analysts Society.
Tamyra Thomas (Fixed-income portion of the Balanced Portfolio)
Ms. Thomas is a senior vice president and the chief fixed income investment
officer of the Investment Management Group of Wells Fargo Bank. She is also
Chair of the Investment Management Group Policy Committee. Ms. Thomas has
managed bond portfolios for over a decade. She currently manages in excess of $1
billion of long-term taxable bond portfolios for various foundations, defined
benefit plans and other clients. Prior to joining Wells Fargo in early 1988, she
held a number of senior investment positions for the Valley Bank & Trust Company
of Utah, including vice president and manager of the investment department and
chairman of the Trust Investment Committee. She holds a B.S. from the University
of Utah and was the past president of the Utah Bond Club. Ms. Thomas is a
chartered financial analyst.
Jon Hickman (Emerging Growth Portfolio)
Mr. Hickman has over sixteen years experience in the investment management
field. He joined Wells Fargo in 1986 managing equity and balanced portfolios for
individuals and employee benefit plans. He is a senior member of Wells Fargo's
Equity Strategy Committee. Mr. Hickman has a B.A. and an M.B.A. in finance from
Brigham Young University.
Sandra Thornton (Emerging Growth Portfolio)
Ms. Thornton manages equity portfolios and is a member of the Wells Fargo Growth
Stock Team. Prior to joining Wells Fargo in 1993, she worked in the research
department of RCM Capital Management. She obtained her CPA from the State of
California while performing tax/financial planning services at Price Waterhouse.
She holds a B.A. from Albertus Magnus College and is a chartered financial
analyst.
