AGA SEPARATE ACCOUNT A
497, 1999-03-08
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<PAGE>   1
                             AGA SEPARATE ACCOUNT A

                        SUPPLEMENT ISSUED MARCH 8, 1999
             TO PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION
                             DATED OCTOBER 28, 1998

Effective March 8, 1999:

     1.   AGA Series Trust has changed its name to A.G. Series Trust.

     2.   AGA Investment Advisory Services, Inc., the Adviser for the seven 
          Portfolios of A.G. Series Trust, has changed its name to A.G. 
          Investment Advisory Services, Inc.

     3.   The Salomon Brothers U.S. Government Securities Portfolio has changed 
          its name to American General U.S. Government Securities Portfolio 
          (the "U.S. Government Securities Portfolio").

     4.   Salomon Brothers Asset Management, Inc. will no longer serve as
          Sub-Adviser to the U.S. Government Securities Portfolio. The Adviser,
          A.G. Investment Advisory Services, Inc. will begin making the
          day-to-day investment decisions for the U.S. Government Securities
          Portfolio. The investment objectives, policies and restrictions of the
          U.S. Government Securities Portfolio will remain the same as they were
          under the management of Salomon Brothers Asset Management, Inc. The
          New Portfolio Manager will be Leon A. Olver, C.F.A. From 1991 to
          1995, Mr. Olver worked for First Heights Bank, Houston, Texas; he was
          Vice President Assistant Treasurer 1991 to 1994; and Vice President,
          Treasurer from 1994 to 1995. Mr. Olver currently is Vice President and
          Investment Officer for American General Series Portfolio Company and
          Vice President of US LIFE Income Fund, Inc.


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