SUPPLEMENT TO PROSPECTUS DATED MAY 1, 1999

                            FOR THE JNL SERIES TRUST


         Under  the  heading  "JNL/S&P   Conservative  Growth  Series"  and  the
sub-heading "Principal Investment  Strategies," the JNL/Putnam Growth Series and
the  JNL/Putnam  Value  Equity  Series  should  be  deleted  from  the  group of
Underlying Series offered.

         Under the heading "JNL/S&P  Moderate Growth Series" and the sub-heading
"Principal  Investment   Strategies,"  the  JNL/Putnam  Growth  Series  and  the
JNL/Putnam  Value Equity  Series  should be deleted from the group of Underlying
Series offered.

         Under  the  heading   "JNL/S&P   Aggressive   Growth  Series"  and  the
sub-heading "Principal Investment  Strategies," the JNL/Putnam Growth Series and
the  JNL/Putnam  Value  Equity  Series  should  be  deleted  from  the  group of
Underlying Series offered.

This Supplement is dated February 1, 2000



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