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PACIFICA VARIABLE TRUST
EMERGING GROWTH PORTFOLIO
EQUITY VALUE PORTFOLIO
BALANCED PORTFOLIO
INTERMEDIATE BOND PORTFOLIO
MONEY MARKET PORTFOLIO
SUPPLEMENT DATED AUGUST 1, 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 agreement with WFIM was ratified
and approved by a vote of the Portfolios' shareholders at a meeting held on
July 26, 1996.
Since May of 1996, the individuals listed below have been responsible
for the day-to-day management of the Funds:
Bob Bissell (Equity Value 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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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.
Since August 1, 1996, Michael Hughes has been responsible for the
day-to-day management of the Intermediate Bond Portfolio. Mr. Hughes joined
Wells Fargo in connection with its acquisition of First Interstate Bancorp. He
was employed in the First Interstate organization since November 1988.
