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STI CLASSIC VARIABLE TRUST
Supplement Dated August 31, 2000 to the
STI Classic Variable Trust Prospectus
dated May 1, 2000
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED
IN THE PROSPECTUS AND SHOULD BE RETAINED AND READ IN CONJUNCTION WITH THE
PROSPECTUS.
Effective June 30, 2000, SunTrust Banks, Inc. reorganized all of the
investment management functions of its three institutional money management
units, including SunTrust Bank, into Trusco Capital Management, Inc.
("Trusco"). As a result of this reorganization, Trusco serves as the
Investment Adviser for each of the Funds in the STI Classic Variable Trust. On
May 16, 2000, the Board of Trustees of the STI Classic Variable Trust approved
the assumption of the advisory duties by Trusco with respect to each Fund. The
Board concluded that with respect to the adviser of each Fund, there would be
no change of management or control, and the services provided to each Fund
would remain unchanged.
INTERNATIONAL EQUITY FUND
For the International Equity Fund, the disclosure following the heading
"Principal Investment Strategy" and the paragraph following the heading
"Investment Strategy," on page 6 of the Prospectus have been deleted and
replaced with the following:
PRINCIPAL INVESTMENT STRATEGY Attempts to identify companies with good
fundamentals or a history of consistent
growth
INVESTMENT STRATEGY
The International Equity Fund invests primarily in common stocks and other
equity securities of foreign companies. The Fund invests primarily in
developed countries, but may invest in countries with emerging markets. Our
"bottom-up" approach to stock selection focuses on individual stocks and
fundamental characteristics of companies. Our goal is to find companies
with top management, quality products and sound financial positions, or a
history of consistent growth in cash flows, sales, operating profits,
returns on equity and returns on invested capital. In selecting investments
for the Fund, we diversify the Fund's investments among at least three
foreign countries. Due to the Fund's investment strategy, the Fund may buy
and sell securities frequently. This may result in higher transaction
costs.
Mr. Chad Deakins, CFA, will be the Portfolio Manager for the International
Equity Fund. Under the heading "Portfolio Managers," paragraph 4 on page 20 of
the Prospectus has been deleted and replaced with the following:
Mr. Chad Deakins, CFA, has been with Trusco since 1996. He has managed the
International Equity Fund since May 2000. Prior to joining Trusco, Mr.
Deakins worked at SunTrust Bank. He has more than 5 years of investment
experience.
CAPITAL APPRECIATION FUND
Mr. Robert J. Rhodes, CFA, will be the Portfolio Manager for the Capital
Appreciation Fund. Under the heading "Portfolio Managers," paragraph 1 on page
20 of the Prospectus has been deleted and replaced with the following:
Mr. Robert J. Rhodes, CFA, has been employed by SunTrust Bank since 2000
and by Trusco since 1973, and has been Director of Research at Trusco since
1980. He has managed the Capital Appreciation Fund since June 2000. He has
more than 26 years of investment experience.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.
