SUPPLEMENT TO PROSPECTUS
FOR THE JNL SERIES TRUST
The Board of Trustees of JNL Series Trust (the "Trust") has called a Special
Meeting of Shareholders be held on April 24, 1998 to consider the following
proposals:
(1) Election of two trustees;
(2) With respect to the Salomon Brothers/JNL U.S. Government & Quality Bond
Series, approval of a new Sub-Advisory Agreement between Jackson National
Financial Services, Inc. and Salomon Brothers Asset Management Inc;
(3) With respect to the Salomon Brothers/JNL Global Bond Series, approval
of a new Sub-Advisory Agreement between Jackson National Financial Services,
Inc. and Salomon Brothers Asset Management Inc and a new Sub-Advisory Consulting
Agreement among Jackson National Financial Services, Inc., Salomon Brothers
Asset Management Inc and Salomon Brothers Asset Management Limited;
(4) Approval of a modification to the investment policy concerning
diversification to read as follows: "It shall be a fundamental policy that each
Series, except the JNL Capital Growth, Lazard/JNL Small Cap Value and Lazard/
JNL Mid-Cap Value Series, shall be a diversified company, as such term is
defined in the Investment Company Act of 1940";
(5) Approval of the elimination of investment restriction number 8 which
states that no Series may "purchase or retain the securities of any issuer if
any of the officers, trustees or directors of all Series or the investment
adviser or sub-adviser owns beneficially more than 1/2 of 1% of the securities
of such issuer and together they own more than 5% of the securities of such
issuer"; and
(6) Ratification of the Board of Trustees' selection of Price Waterhouse
LLP as independent accountants for the Trust for the year ending December 31,
1998.
This Supplement is dated March 13, 1998.
