June 29, 1998
PIONEER VARIABLE CONTRACTS TRUST
Supplement to Prospectus dated May 1, 1998
The following information supplements the corresponding sections in the
Prospectus.
Mr. David Tripple, President and Chief Investment Officer of Pioneering
Management Corporation ("Pioneer") and Executive Vice President of the Fund, has
general responsibility for PMC's investment operations. Mr. Tripple joined PMC
in 1974. Ms. Theresa Hamacher, Senior Vice President of Pioneer, oversees U.S.
equity research and portfolio management.
Balanced Portfolio: William C. Field, Vice President of Pioneer, is
responsible for day-to-day management of the Portfolio's equity investments. Mr.
Field joined PMC in 1991 and has over six years of investment experience.
Richard A. Schlanger, Vice President of Pioneer, together with Mr. Field is
responsible for the day-to-day management of the income investments of the
Portfolio. Mr. Schlanger joined Pioneer in 1983 has over 11 years of investment
experience.
0698-5384
(C) Pioneer Funds Distributor, Inc.
