-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 TstcaZi1dq3w+OUVfqKtI/gbrxcql3RaSGYJlePPnKNX44qy3pLCAf6pdURwj7lN
 PSstdOjYuVbWS7sxRGrMeA==

<SEC-DOCUMENT>0000820027-02-000218.txt : 20020415
<SEC-HEADER>0000820027-02-000218.hdr.sgml : 20020415
ACCESSION NUMBER:		0000820027-02-000218
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20020327

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AXP VARIABLE PORTFOLIO INVESTMENT SERIES INC
		CENTRAL INDEX KEY:			0000353968
		IRS NUMBER:				411409539
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	002-73115
		FILM NUMBER:		02588448

	BUSINESS ADDRESS:	
		STREET 1:		80 SOUTH 8TH STREET
		STREET 2:		IDS TOWER 10
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55440
		BUSINESS PHONE:		6126718626

	MAIL ADDRESS:	
		STREET 1:		IDS FINANCIAL SERVICES INC
		STREET 2:		IDS TOWER 10
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55440

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IDS LIFE INVESTMENT SERIES INC
		DATE OF NAME CHANGE:	19981102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IDS LIFE CAPITAL RESOURCE FUND INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IDS LIFE CAPITAL RESOURCE FUND II INC
		DATE OF NAME CHANGE:	19851104
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>s6466-19a.txt
<DESCRIPTION>AXP VP EQUITY SELECT FUND  - SAI SUPPLEMENT
<TEXT>
                        Supplement Dated March 28, 2002*
        to the Statement of Additional Information Dated October 30, 2001
       of American Express(R) Variable Portfolio Funds S-6466-20 U (10/01)

The following revision applies to the "Administrative Services Agreement"
section of the AXP(R) Variable Portfolio - Equity Select Fund. The fee table for
the AXP(R) Variable Portfolio - Equity Select Fund will be revised as follows:

Equity Select
Assets (billions)           Annual rate at each asset level
 First  $0.25                              0.060%
 Next    0.25                              0.055
 Next    0.25                              0.050
 Next    0.25                              0.045
 Next    1.00                              0.040
 Next    1.00                              0.035
 Over    3.00                              0.030


S-6466-19 A (3/02)
* Valid until October 30, 2002.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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