TRANSAMERICA INVESTORS INC
497, 1999-12-03
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                           TRANSAMERICA PREMIER FUNDS
                                 INVESTOR SHARES

                        Supplement Dated December 3, 1999
                         to Prospectus Dated May 1, 1999


THE FOLLOWING  INFORMATION  SUPPLEMENTS  THE INVESTMENT  ADVISER  SECTION of the
prospectus on pages 20-21 which  identifies  the managers for each of the Funds.
It  incorporates  previous  supplements to the May 1, 1999,  prospectus and, for
your reading convenience,  restates some information which has not changed since
the May 1  prospectus.  You  should  read  this  supplement  together  with  the
prospectus.

         TRANSAMERICA PREMIER AGGRESSIVE GROWTH FUND
         PRIMARY  MANAGER  SINCE  1999:  CHRISTOPHER  J.  BONAVICO,   CFA,  Vice
         President and Fund Manager,  Transamerica Investment Services.  Manager
         of the Transamerica  Aggressive Growth Fund, Transamerica Premier Small
         Company  Fund,  Transamerica  Small Company  Fund,  and a  Transamerica
         corporate  account.  Was  manager  of the  Transamerica  Value Fund and
         co-manager of the  Transamerica  Premier  Aggressive  Growth Fund,  the
         Transamerica  Premier  Small  Company Fund,  the  Transamerica  Premier
         Balanced  Fund and  Transamerica  Premier Index Fund from 1998 to 1999.
         Was manager of the  Transamerica  Premier Index Fund from  inception to
         1998. B.S., University of Delaware. Joined Transamerica in 1993.

         CO-MANAGER SINCE 1999: DANIEL J. PRISLIN
         (See Value Fund below for biography.)

         TRANSAMERICA PREMIER SMALL COMPANY FUND
         PRIMARY MANAGER SINCE 1999: CHRISTOPHER J. BONAVICO
         (See Aggressive Growth Fund above for biography.)

          CO-MANAGER  SINCE  1999:  TIMOTHY  S.  GAUMER,  CFA,  Equity  Analyst,
          Transamerica  Investment  Services.  Primary manager of a Transamerica
          corporate  account.  Co-Manager of the Transamerica Small Company Fund
          since l999. Member of The Security  Analysts of San Francisco.  Equity
          analyst,  Chancellor LGT Asset Management,  1995-1997. Senior analyst,
          Emerging Growth Management,  1994-1995.  B.S., University of Illinois.
          M.B.A., University of Dallas. Joined Transamerica in 1997.

         TRANSAMERICA  PREMIER EQUITY FUND PRIMARY  MANAGER SINCE 1998 : JEFFREY
         S.  VAN  HARTE  (See  Equity  Fund  on page  20 of the  prospectus  for
         biography.)

         CO-MANAGER SINCE 1999: GARY U. ROLLE'
         (See Balanced Fund on page 20 of the prospectus for biography.)

         TRANSAMERICA PREMIER INDEX FUND
         PRIMARY  MANAGER SINCE 1998:  LISA L. HANSEN (See Index Fund on page 20
         of the prospectus for biography.)

         CO-MANAGER  SINCE  1999:  HEIDI  Y.  HU  (See  Bond  Fund on page 21 of
         prospectus for biography.)


<PAGE>


          TRANSAMERICA  PREMIER VALUE FUND PRIMARY MANAGER SINCE 1999: DANIEL J.
          PRISLIN,  CFA,  Equity  Analyst,   Transamerica  Investment  Services.
          Primary  manager of the  Transamerica  Value  Fund and a  Transamerica
          corporate account.  Co-Manager of the Transamerica  Premier Aggressive
          Growth Fund and the  Transamerica  Aggressive  Growth Fund.  Assistant
          portfolio  manager,   Franklin  Templeton  Group,   1994-1998.   B.S.,
          University of California at Berkeley. M.B.A., University of California
          at Berkeley. Joined Transamerica in 1998.

         CO-MANAGER SINCE 1998: JEFFREY S. VAN HARTE (See Equity Fund on page 20
         of prospectus for biography.)

         TRANSAMERICA PREMIER BALANCED FUND
         PRIMARY  MANAGER SINCE 1998:  GARY U. ROLLE' (See Balanced Fund on page
         20 of prospectus for biography.)

         CO-MANAGER SINCE 1999: JEFFREY S. VAN HARTE (See Equity Fund on page 20
         of the prospectus for biography.)

         CO-MANAGER  SINCE  1999:  HEIDI  Y.  HU  (See  Bond  Fund on page 21 of
         prospectus for biography.)

         TRANSAMERICA PREMIER BOND FUND
         PRIMARY MANAGER SINCE 1998:  MATTHEW W. KUHNS (See Bond Fund on page 20
         of the prospectus for his biography.)

         CO-MANAGER SINCE 1999: HEIDI Y. HU
         (See Bond Fund on page 21 of prospectus for biography.)

         TRANSAMERICA PREMIER HIGH YIELD BOND FUND
         PRIMARY MANAGER SINCE 1998:  MATTHEW W. KUHNS (See Bond Fund on page 20
         of the prospectus for his biography.)

          CO-MANAGER  SINCE  1999:  THOMAS  J.  RAY,  CFA,  Vice  President  and
          Portfolio Manager, Transamerica Investment Services. Member of the Los
          Angeles  Society of  Financial  Analysts and Bond Club of Los Angeles.
          M.S.,   University  of   Wisconsin-Madison.   B.B.A.,   University  of
          Wisconsin-Madison.     Course     Administrator,     University     of
          Wisconsin-Madison  Graduate School of Business,  1990-1991.  Financial
          Analyst, Madison Valuation Associates,  1989-1991. Joined Transamerica
          in 1991.

         CO-MANAGER SINCE 1999:  EDWARD S. HAN
         (See Cash Reserve below for biography.)

          TRANSAMERICA  PREMIER CASH RESERVE PRIMARY MANAGER SINCE 1999:  EDWARD
          S. HAN, Securities Analyst,  Transamerica Investment Services. M.B.A.,
          Darden Graduate School of Business Administration at the University of
          Virginia.   B.A.,   University   of   California   at   Irvine.   Vice
          President-Health  Care  Finance  Group,  Bank of  America,  1993-1998.
          Joined Transamerica in 1998.

         CO-MANAGER SINCE 1999: HEIDI Y. HU
         (See Bond Fund on page 21 of prospectus for biography.)

THE FOLLOWING CHANGES WERE MADE TO THE YOUR GUIDE TO: DIVIDENDS & CAPITAL GAINS,
FACTS ABOUT THE PREMIER CASH RESERVE FUND SECTION OF THE  PROSPECTUS on page 31,
effective  August 11, 1999,  as stated in an August 11, 1999,  supplement to the
prospectus.

Dividends on the Premier Cash Reserve Fund are determined daily but paid
 monthly.
You will begin earning these dividends on the next business day after your
 purchase is effective.
You will earn dividends on the day your redemption is paid.


THE FOLLOWING INFORMATION REPLACES THE AEGON AGREEMENT SECTION of the prospectus
on page 21, as stated in a July 29, 1999, supplement to the prospectus.

     AEGON Acquisition

     On July 21, 1999,  Transamerica  Corporation  merged with a  subsidiary  of
     AEGON N.V., one of the world's leading international insurance groups. As a
     result  of  the  merger,   the  investment   advisory   contracts   between
     Transamerica   Investors,   Inc.  (the  Premier  Funds)  and   Transamerica
     Investment  Services,  Inc. (TIS), the Premier Funds'  investment  adviser,
     automatically  terminated and the new investment advisory contracts between
     the Premier  Funds and TIS,  approved at a special  meeting of Premier Fund
     shareholders on June 16,1999, became effective.

     As of July  21,  1999,  AEGON  N.V.  indirectly  owns  the  Premier  Funds'
     Administrator, Transamerica Occidental Life Insurance Company; Distributor,
     Transamerica   Securities  Sales  Corporation;   and  Investment   Adviser,
     Transamerica Investment Services, Inc.

<PAGE>







                           TRANSAMERICA PREMIER FUNDS
                        INVESTOR AND INSTITUTIONAL SHARES

                        Supplement Dated December 3, 1999
              Statement of Additional Information Dated May 1, 1999

The following information  supplements the Statement of Additional  Information.
Please read it together with the Statement of Additional Information.

The "Director  and  Officers"  information  in the  "Management  of the Company"
section, beginning on page 19, is amended as follows:

Nooruddin  S.  Veerjee is  deleted as  Director,  Chairman  and Chief  Executive
Officer.  Richard N.  Latzer  replaces  Nooruddin  S.  Veerjee as  Director  and
Chairman.  Mr. Latzer's  principal  occupation  during the last five years is as
follows:  President,  Chief  Executive  Officer  and  Director  of  Transamerica
Investment Services, Inc.; Senior Vice President and Chief Investment Officer of
Transamerica Corporation.  Director and Chief Investment Officer of Transamerica
Occidental Life Insurance Company.

Gary U. Rolle' is deleted as Director.

Nicki Bair is deleted as President and is replaced by Mr.  Rolle'.  Mr.  Rolle's
primary  occupation  during  the last  five  years is  listed  on page 20 of the
Statement of Additional Information.


<PAGE>



                           TRANSAMERICA PREMIER FUNDS
                           CLASS A AND CLASS M SHARES

                        Supplement Dated December 3, 1999
              Statement of Additional Information Dated May 1, 1999

The following information  supplements the Statement of Additional  Information.
Please read it together with the Statement of Additional Information.

The "Director  and  Officers"  information  in the  "Management  of the Company"
section, beginning on page 19, is amended as follows:

Nooruddin  S.  Veerjee is  deleted as  Director,  Chairman  and Chief  Executive
Officer.  Richard N.  Latzer  replaces  Nooruddin  S.  Veerjee as  Director  and
Chairman.  Mr. Latzer's  principal  occupation  during the last five years is as
follows:  President,  Chief  Executive  Officer  and  Director  of  Transamerica
Investment Services, Inc.; Senior Vice President and Chief Investment Officer of
Transamerica Corporation.  Director and Chief Investment Officer of Transamerica
Occidental Life Insurance Company.

Gary U. Rolle' is deleted as Director.

Nicki Bair is deleted as President and is replaced by Mr.  Rolle'.  Mr.  Rolle's
primary  occupation  during  the last  five  years is  listed  on page 20 of the
Statement of Additional Information.



<PAGE>


                           TRANSAMERICA PREMIER FUNDS
                              INSTITUTIONAL SHARES

                        Supplement Dated December 3, 1999
                         to Prospectus Dated May 1, 1999


THE FOLLOWING  INFORMATION  SUPPLEMENTS  THE INVESTMENT  ADVISER  SECTION of the
prospectus on pages 16-17 which  identifies  the managers for each of the Funds.
It  incorporates  previous  supplements to the May 1, 1999,  prospectus and, for
your reading convenience,  restates some information which has not changed since
the May 1  prospectus.  You  should  read  this  supplement  together  with  the
prospectus.

         TRANSAMERICA PREMIER AGGRESSIVE GROWTH FUND
         PRIMARY  MANAGER  SINCE  1999:  CHRISTOPHER  J.  BONAVICO,   CFA,  Vice
         President and Fund Manager,  Transamerica Investment Services.  Manager
         of the Transamerica  Aggressive Growth Fund, Transamerica Premier Small
         Company  Fund,  Transamerica  Small Company  Fund,  and a  Transamerica
         corporate  account.  Was  manager  of the  Transamerica  Value Fund and
         co-manager of the  Transamerica  Premier  Aggressive  Growth Fund,  the
         Transamerica  Premier  Small  Company Fund,  the  Transamerica  Premier
         Balanced  Fund and  Transamerica  Premier Index Fund from 1998 to 1999.
         Was manager of the  Transamerica  Premier Index Fund from  inception to
         1998. B.S., University of Delaware. Joined Transamerica in 1993.

         CO-MANAGER SINCE 1999: DANIEL J. PRISLIN
         (See Value Fund below for biography.)

         TRANSAMERICA PREMIER SMALL COMPANY FUND
         PRIMARY MANAGER SINCE 1999: CHRISTOPHER J. BONAVICO
         (See Aggressive Growth Fund above for biography.)

          CO-MANAGER  SINCE  1999:  TIMOTHY  S.  GAUMER,  CFA,  Equity  Analyst,
          Transamerica  Investment  Services.  Primary manager of a Transamerica
          corporate  account.  Co-Manager of the Transamerica Small Company Fund
          since l999. Member of The Security  Analysts of San Francisco.  Equity
          analyst,  Chancellor LGT Asset Management,  1995-1997. Senior analyst,
          Emerging Growth Management,  1994-1995.  B.S., University of Illinois.
          M.B.A., University of Dallas. Joined Transamerica in 1997.

         TRANSAMERICA  PREMIER EQUITY FUND PRIMARY  MANAGER SINCE 1998 : JEFFREY
         S.  VAN  HARTE  (See  Equity  Fund  on page  16 of the  prospectus  for
         biography.)

         CO-MANAGER SINCE 1999: GARY U. ROLLE'
         (See Balanced Fund on page 16 of the prospectus for biography.)

         TRANSAMERICA PREMIER INDEX FUND
         PRIMARY  MANAGER SINCE 1998:  LISA L. HANSEN (See Index Fund on page 16
         of the prospectus for biography.)

         CO-MANAGER  SINCE  1999:  HEIDI  Y.  HU  (See  Bond  Fund on page 16 of
         prospectus for biography.)


<PAGE>


          TRANSAMERICA  PREMIER VALUE FUND PRIMARY MANAGER SINCE 1999: DANIEL J.
          PRISLIN,  CFA,  Equity  Analyst,   Transamerica  Investment  Services.
          Primary  manager of the  Transamerica  Value  Fund and a  Transamerica
          corporate account.  Co-Manager of the Transamerica  Premier Aggressive
          Growth Fund and the  Transamerica  Aggressive  Growth Fund.  Assistant
          portfolio  manager,   Franklin  Templeton  Group,   1994-1998.   B.S.,
          University of California at Berkeley. M.B.A., University of California
          at Berkeley. Joined Transamerica in 1998.

         CO-MANAGER SINCE 1998: JEFFREY S. VAN HARTE (See Equity Fund on page 16
         of prospectus for biography.)

         TRANSAMERICA PREMIER BALANCED FUND
         PRIMARY  MANAGER SINCE 1998:  GARY U. ROLLE' (See Balanced Fund on page
         16 of prospectus for biography.)

         CO-MANAGER SINCE 1999: JEFFREY S. VAN HARTE (See Equity Fund on page 16
         of the prospectus for biography.)

         CO-MANAGER  SINCE  1999:  HEIDI  Y.  HU  (See  Bond  Fund on page 16 of
         prospectus for biography.)

         TRANSAMERICA PREMIER BOND FUND
         PRIMARY MANAGER SINCE 1998:  MATTHEW W. KUHNS (See Bond Fund on page 16
         of the prospectus for his biography.)

         CO-MANAGER SINCE 1999: HEIDI Y. HU
         (See Bond Fund on page 16 of prospectus for biography.)

         TRANSAMERICA PREMIER HIGH YIELD BOND FUND
         PRIMARY MANAGER SINCE 1998:  MATTHEW W. KUHNS (See Bond Fund on page 16
         of the prospectus for his biography.)

          CO-MANAGER  SINCE  1999:  THOMAS  J.  RAY,  CFA,  Vice  President  and
          Portfolio Manager, Transamerica Investment Services. Member of the Los
          Angeles  Society of  Financial  Analysts and Bond Club of Los Angeles.
          M.S.,   University  of   Wisconsin-Madison.   B.B.A.,   University  of
          Wisconsin-Madison.     Course     Administrator,     University     of
          Wisconsin-Madison  Graduate School of Business,  1990-1991.  Financial
          Analyst, Madison Valuation Associates,  1989-1991. Joined Transamerica
          in 1991.

         CO-MANAGER SINCE 1999:  EDWARD S. HAN
         (See Cash Reserve below for biography.)

          TRANSAMERICA  PREMIER CASH RESERVE PRIMARY MANAGER SINCE 1999:  EDWARD
          S. HAN, Securities Analyst,  Transamerica Investment Services. M.B.A.,
          Darden Graduate School of Business Administration at the University of
          Virginia.   B.A.,   University   of   California   at   Irvine.   Vice
          President-Health  Care  Finance  Group,  Bank of  America,  1993-1998.
          Joined Transamerica in 1998.

         CO-MANAGER SINCE 1999: HEIDI Y. HU
         (See Bond Fund on page 16 of prospectus for biography.)

THE FOLLOWING CHANGES WERE MADE TO THE YOUR GUIDE TO: DIVIDENDS & CAPITAL GAINS,
FACTS ABOUT THE PREMIER CASH RESERVE FUND SECTION OF THE  PROSPECTUS on page 22,
effective  August 11, 1999,  as stated in an August 11, 1999,  supplement to the
prospectus.

Dividends on the Premier Cash Reserve Fund are determined daily but paid
 monthly.
You will begin earning these dividends on the next business day after your
 purchase is effective.
You will earn dividends on the day your redemption is paid.


THE FOLLOWING INFORMATION REPLACES THE AEGON AGREEMENT SECTION of the prospectus
on page 17, as stated in a July 29, 1999, supplement to the prospectus.

     AEGON Acquisition

     On July 21, 1999,  Transamerica  Corporation  merged with a  subsidiary  of
     AEGON N.V., one of the world's leading international insurance groups. As a
     result  of  the  merger,   the  investment   advisory   contracts   between
     Transamerica   Investors,   Inc.  (the  Premier  Funds)  and   Transamerica
     Investment  Services,  Inc. (TIS), the Premier Funds'  investment  adviser,
     automatically  terminated and the new investment advisory contracts between
     the Premier  Funds and TIS,  approved at a special  meeting of Premier Fund
     shareholders on June 16,1999, became effective.

As  of  July  21,  1999,   AEGON  N.V.   indirectly   owns  the  Premier  Funds'
Administrator,  Transamerica  Occidental  Life Insurance  Company;  Distributor,
Transamerica Securities Sales Corporation; and Investment Adviser,  Transamerica
Investment Services, Inc.


<PAGE>


                           TRANSAMERICA PREMIER FUNDS
                           CLASS A AND CLASS M SHARES

                        Supplement Dated December 3, 1999
                         to Prospectus Dated May 1, 1999


THE FOLLOWING  INFORMATION  SUPPLEMENTS  THE INVESTMENT  ADVISER  SECTION of the
prospectus on pages 18-19 which  identifies  the managers for each of the Funds.
It  incorporates  previous  supplements to the May 1, 1999,  prospectus and, for
your reading convenience,  restates some information which has not changed since
the May 1  prospectus.  You  should  read  this  supplement  together  with  the
prospectus.

         TRANSAMERICA PREMIER AGGRESSIVE GROWTH FUND
         PRIMARY  MANAGER  SINCE  1999:  CHRISTOPHER  J.  BONAVICO,   CFA,  Vice
         President and Fund Manager,  Transamerica Investment Services.  Manager
         of the Transamerica  Aggressive Growth Fund, Transamerica Premier Small
         Company  Fund,  Transamerica  Small Company  Fund,  and a  Transamerica
         corporate account.  Co-Manager of the Transamerica  Premier Index Fund.
         Was  manager  of the  Transamerica  Value  Fund and  co-manager  of the
         Transamerica  Premier Aggressive Growth Fund, the Transamerica  Premier
         Small Company Fund,  and the  Transamerica  Premier  Balanced Fund from
         1998 to 1999. Was manager of the  Transamerica  Premier Index Fund from
         inception to 1998. B.S., University of Delaware. Joined Transamerica in
         1993.

         CO-MANAGER SINCE 1999: DANIEL J. PRISLIN
         (See Value Fund below for biography.)

         TRANSAMERICA PREMIER SMALL COMPANY FUND
         PRIMARY MANAGER SINCE 1999: CHRISTOPHER J. BONAVICO
         (See Aggressive Growth Fund above for biography.)

          CO-MANAGER  SINCE  1999:  TIMOTHY  S.  GAUMER,  CFA,  Equity  Analyst,
          Transamerica  Investment  Services.  Primary manager of a Transamerica
          corporate  account.  Co-Manager of the Transamerica Small Company Fund
          since l999. Member of The Security  Analysts of San Francisco.  Equity
          analyst,  Chancellor LGT Asset Management,  1995-1997. Senior analyst,
          Emerging Growth Management,  1994-1995.  B.S., University of Illinois.
          M.B.A., University of Dallas. Joined Transamerica in 1997.

         TRANSAMERICA  PREMIER EQUITY FUND PRIMARY  MANAGER SINCE 1998 : JEFFREY
         S.  VAN  HARTE  (See  Equity  Fund  on page  18 of the  prospectus  for
         biography.)

         CO-MANAGER SINCE 1999: GARY U. ROLLE'
         (See Balanced Fund on page 18 of the prospectus for biography.)

         TRANSAMERICA PREMIER INDEX FUND
         PRIMARY  MANAGER SINCE 1998:  LISA L. HANSEN (See Index Fund on page 18
         of the prospectus for biography.)

         CO-MANAGER  SINCE  1999:  HEIDI  Y.  HU  (See  Bond  Fund on page 18 of
         prospectus for biography.)


<PAGE>


          TRANSAMERICA  PREMIER VALUE FUND PRIMARY MANAGER SINCE 1999: DANIEL J.
          PRISLIN,  CFA,  Equity  Analyst,   Transamerica  Investment  Services.
          Primary  manager of the  Transamerica  Value  Fund and a  Transamerica
          corporate account.  Co-Manager of the Transamerica  Premier Aggressive
          Growth Fund and the  Transamerica  Aggressive  Growth Fund.  Assistant
          portfolio  manager,   Franklin  Templeton  Group,   1994-1998.   B.S.,
          University of California at Berkeley. M.B.A., University of California
          at Berkeley. Joined Transamerica in 1998.

         CO-MANAGER SINCE 1998: JEFFREY S. VAN HARTE (See Equity Fund on page 18
         of prospectus for biography.)

         TRANSAMERICA PREMIER BALANCED FUND
         PRIMARY  MANAGER SINCE 1998:  GARY U. ROLLE' (See Balanced Fund on page
         18 of prospectus for biography.)

         CO-MANAGER SINCE 1999: JEFFREY S. VAN HARTE (See Equity Fund on page 18
         of the prospectus for biography.)

         CO-MANAGER  SINCE  1999:  HEIDI  Y.  HU  (See  Bond  Fund on page 18 of
         prospectus for biography.)

         TRANSAMERICA PREMIER BOND FUND
         PRIMARY MANAGER SINCE 1998:  MATTHEW W. KUHNS (See Bond Fund on page 18
         of the prospectus for his biography.)

         CO-MANAGER SINCE 1999: HEIDI Y. HU
         (See Bond Fund on page 18 of prospectus for biography.)

         TRANSAMERICA PREMIER HIGH YIELD BOND FUND
         PRIMARY MANAGER SINCE 1998:  MATTHEW W. KUHNS (See Bond Fund on page 18
         of the prospectus for his biography.)

          CO-MANAGER  SINCE 1999:  THOMAS J. RAY,  Vice  President and Portfolio
          Manager,   Transamerica   Investment  Services.   Chartered  Financial
          Analyst.  Member of the Los Angeles Society of Financial  Analysts and
          Bond  Club of Los  Angeles.  M.S.,  University  of  Wisconsin-Madison.
          B.B.A.,   University  of   Wisconsin-Madison.   Course  Administrator,
          University   of   Wisconsin-Madison   Graduate   School  of  Business,
          1990-1991. Financial Analyst, Madison Valuation Associates, 1989-1991.
          Joined Transamerica in 1991.

         CO-MANAGER SINCE 1999:  EDWARD S. HAN
         (See Cash Reserve below for biography.)

          TRANSAMERICA  PREMIER CASH RESERVE PRIMARY MANAGER SINCE 1999:  EDWARD
          S. HAN, Securities Analyst,  Transamerica Investment Services. M.B.A.,
          Darden Graduate School of Business Administration at the University of
          Virginia.   B.A.,   University   of   California   at   Irvine.   Vice
          President-Health  Care  Finance  Group,  Bank of  America,  1993-1998.
          Joined Transamerica in 1998.

         CO-MANAGER SINCE 1999: HEIDI Y. HU
         (See Bond Fund on page 18 of prospectus for biography.)

THE FOLLOWING CHANGES WERE MADE TO THE YOUR GUIDE TO: DIVIDENDS & CAPITAL GAINS,
FACTS ABOUT THE PREMIER CASH RESERVE FUND SECTION OF THE  PROSPECTUS on page 21,
effective  August 11, 1999,  as stated in an August 11, 1999,  supplement to the
prospectus.

Dividends on the Premier Cash Reserve Fund are determined daily but paid
 monthly.
You will begin earning these dividends on the next business day after your
 purchase is effective.
You will earn dividends on the day your redemption is paid.


THE FOLLOWING INFORMATION REPLACES THE AEGON AGREEMENT SECTION of the prospectus
on page 19, as stated in a July 29, 1999, supplement to the prospectus.

     AEGON Acquisition

     On July 21, 1999,  Transamerica  Corporation  merged with a  subsidiary  of
     AEGON N.V., one of the world's leading international insurance groups. As a
     result  of  the  merger,   the  investment   advisory   contracts   between
     Transamerica   Investors,   Inc.  (the  Premier  Funds)  and   Transamerica
     Investment  Services,  Inc. (TIS), the Premier Funds'  investment  adviser,
     automatically  terminated and the new investment advisory contracts between
     the Premier  Funds and TIS,  approved at a special  meeting of Premier Fund
     shareholders on June 16,1999, became effective.

As  of  July  21,  1999,   AEGON  N.V.   indirectly   owns  the  Premier  Funds'
Administrator,  Transamerica  Occidental  Life Insurance  Company;  Distributor,
Transamerica Securities Sales Corporation; and Investment Adviser,  Transamerica
Investment Services, Inc.


<PAGE>


                           TRANSAMERICA PREMIER FUNDS
                           CLASS A AND CLASS M SHARES

                        Supplement Dated December 3, 1999
                         to Prospectus Dated May 1, 1999


THE FOLLOWING  INFORMATION  SUPPLEMENTS  THE INVESTMENT  ADVISER  SECTION of the
prospectus on pages 18-19 which  identifies  the managers for each of the Funds.
It  incorporates  previous  supplements to the May 1, 1999,  prospectus and, for
your reading convenience,  restates some information which has not changed since
the May 1  prospectus.  You  should  read  this  supplement  together  with  the
prospectus.

         TRANSAMERICA PREMIER AGGRESSIVE GROWTH FUND
         PRIMARY  MANAGER  SINCE  1999:  CHRISTOPHER  J.  BONAVICO,   CFA,  Vice
         President and Fund Manager,  Transamerica Investment Services.  Manager
         of the Transamerica  Aggressive Growth Fund, Transamerica Premier Small
         Company  Fund,  Transamerica  Small Company  Fund,  and a  Transamerica
         corporate  account.  Was  manager  of the  Transamerica  Value Fund and
         co-manager of the  Transamerica  Premier  Aggressive  Growth Fund,  the
         Transamerica  Premier  Small  Company Fund,  the  Transamerica  Premier
         Balanced  Fund and  Transamerica  Premier Index Fund from 1998 to 1999.
         Was manager of the  Transamerica  Premier Index Fund from  inception to
         1998. B.S., University of Delaware. Joined Transamerica in 1993.

         CO-MANAGER SINCE 1999: DANIEL J. PRISLIN
         (See Value Fund below for biography.)

         TRANSAMERICA PREMIER SMALL COMPANY FUND
         PRIMARY MANAGER SINCE 1999: CHRISTOPHER J. BONAVICO
         (See Aggressive Growth Fund above for biography.)

          CO-MANAGER  SINCE  1999:  TIMOTHY  S.  GAUMER,  CFA,  Equity  Analyst,
          Transamerica  Investment  Services.  Primary manager of a Transamerica
          corporate  account.  Co-Manager of the Transamerica Small Company Fund
          since l999. Member of The Security  Analysts of San Francisco.  Equity
          analyst,  Chancellor LGT Asset Management,  1995-1997. Senior analyst,
          Emerging Growth Management,  1994-1995.  B.S., University of Illinois.
          M.B.A., University of Dallas. Joined Transamerica in 1997.

         TRANSAMERICA  PREMIER EQUITY FUND PRIMARY  MANAGER SINCE 1998 : JEFFREY
         S.  VAN  HARTE  (See  Equity  Fund  on page  18 of the  prospectus  for
         biography.)

         CO-MANAGER SINCE 1999: GARY U. ROLLE'
         (See Balanced Fund on page 18 of the prospectus for biography.)

         TRANSAMERICA PREMIER INDEX FUND
         PRIMARY  MANAGER SINCE 1998:  LISA L. HANSEN (See Index Fund on page 18
         of the prospectus for biography.)

         CO-MANAGER  SINCE  1999:  HEIDI  Y.  HU  (See  Bond  Fund on page 18 of
         prospectus for biography.)

          TRANSAMERICA  PREMIER VALUE FUND PRIMARY MANAGER SINCE 1999: DANIEL J.
          PRISLIN,  CFA,  Equity  Analyst,   Transamerica  Investment  Services.
          Primary  manager of the  Transamerica  Value  Fund and a  Transamerica
          corporate account.  Co-Manager of the Transamerica  Premier Aggressive
          Growth Fund and the  Transamerica  Aggressive  Growth Fund.  Assistant
          portfolio  manager,   Franklin  Templeton  Group,   1994-1998.   B.S.,
          University of California at Berkeley. M.B.A., University of California
          at Berkeley. Joined Transamerica in 1998.

         CO-MANAGER SINCE 1998: JEFFREY S. VAN HARTE (See Equity Fund on page 18
         of prospectus for biography.)

         TRANSAMERICA PREMIER BALANCED FUND
         PRIMARY  MANAGER SINCE 1998:  GARY U. ROLLE' (See Balanced Fund on page
         18 of prospectus for biography.)

         CO-MANAGER SINCE 1999: JEFFREY S. VAN HARTE (See Equity Fund on page 18
         of the prospectus for biography.)

         CO-MANAGER  SINCE  1999:  HEIDI  Y.  HU  (See  Bond  Fund on page 18 of
         prospectus for biography.)

         TRANSAMERICA PREMIER BOND FUND
         PRIMARY MANAGER SINCE 1998:  MATTHEW W. KUHNS (See Bond Fund on page 18
         of the prospectus for his biography.)

         CO-MANAGER SINCE 1999: HEIDI Y. HU
         (See Bond Fund on page 18 of prospectus for biography.)

          TRANSAMERICA  PREMIER CASH RESERVE PRIMARY MANAGER SINCE 1999: EDWARDS
          S. HAN, Securities Analyst,  Transamerica Investment Services.  M.B.A.
          (business   administration),   Darden   Graduate  School  of  Business
          Administration  at the  University  of  Virginia.  B.A.,  (economics),
          University of California at Irvine. Vice President-Health Care Finance
          Group, Bank of America, 1993-1998. Joined Transamerica in 1998.

         CO-MANAGER SINCE 1999: HEIDI Y. HU
         (See Bond Fund on page 18 of prospectus for biography.)

THE FOLLOWING CHANGES WERE MADE TO THE YOUR GUIDE TO: DIVIDENDS & CAPITAL GAINS,
FACTS ABOUT THE PREMIER CASH RESERVE FUND SECTION OF THE  PROSPECTUS on page 21,
effective  August 11, 1999,  as stated in an August 11, 1999,  supplement to the
prospectus.

Dividends on the Premier Cash Reserve Fund are determined daily but paid
 monthly.
You will begin earning these dividends on the next business day after your
 purchase is effective.
You will earn dividends on the day your redemption is paid.


THE FOLLOWING INFORMATION REPLACES THE AEGON AGREEMENT SECTION of the prospectus
on page 19, as stated in a July 29, 1999, supplement to the prospectus.

     AEGON Acquisition

     On July 21, 1999,  Transamerica  Corporation  merged with a  subsidiary  of
     AEGON N.V., one of the world's leading international insurance groups. As a
     result  of  the  merger,   the  investment   advisory   contracts   between
     Transamerica   Investors,   Inc.  (the  Premier  Funds)  and   Transamerica
     Investment  Services,  Inc. (TIS), the Premier Funds'  investment  adviser,
     automatically  terminated and the new investment advisory contracts between
     the Premier  Funds and TIS,  approved at a special  meeting of Premier Fund
     shareholders on June 16,1999, became effective.

As  of  July  21,  1999,   AEGON  N.V.   indirectly   owns  the  Premier  Funds'
Administrator,  Transamerica  Occidental  Life Insurance  Company;  Distributor,
Transamerica Securities Sales Corporation; and Investment Adviser,  Transamerica
Investment Services, Inc.



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