As filed pursuant to Rule 424(b)(3)
                                             under the Securities Act of 1933
                                             Registration No. 333-67689

                     ANCHOR NATIONAL LIFE INSURANCE COMPANY
                          VARIABLE ANNUITY ACCOUNT FIVE
            (PORTION RELATING TO THE SEASONS SELECT VARIABLE ANNUITY)

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                   SUPPLEMENT TO THE SEASONS SELECT PROSPECTUS
                               DATED JULY 29, 2002
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As of October 1, 2002, Salomon Brothers Asset Management replaces Jennison
Associates LLC. as one of the investment sub-advisers of the Focused Growth
Portfolio. The portfolio's name and investment objective have not changed.
Currently, the fee structure for management of the Focused Growth Portfolio is
the same.

FOR MORE DETAILED INFORMATION ON THESE INVESTMENT CHARGES, REFER TO THE
PROSPECTUS FOR THE SEASONS SERIES TRUST.

The following replaces the 2nd and 3rd paragraphs on page 20 in the section
titled "Transfers During the Accumulation Phase" of the prospectus:
-
This product is not designed for professional "market timing" organizations or
other organizations or individuals engaged in trading strategies that seek to
benefit from short term price fluctuations or price irregularities by making
programming transfers, frequent transfers or transfers that are large in
relation to the total assets of the underlying portfolio in which the Variable
Portfolios invest. These marketing timing strategies are disruptive to the
underlying portfolios in which the Variable Portfolios invest and thereby
potentially harmful to investors. If we determine, in our sole discretion, that
your transfer patterns among the Variable Portfolios reflect a market timing
strategy, we reserve the right to take action to protect the other investors.
Such action may include but would not be limited to restricting the mechanisms
you can use to request transfers among the Variable Portfolios or imposing
penalty fees on such trading activity and/or otherwise restricting transfer
options in accordance with state and federal rules and regulations.

Certain transfers will be restricted in order to protect you from abusive or
disruptive trading activity. You can request up to 15 transfers per contract
each contract year via U.S. Mail, telephone, facsimile or internet. Any transfer
request in excess of 15 transfers per contract year must be submitted in writing
by U.S. Mail. Transfer requests sent by same day mail, overnight mail or courier
service will not be accepted. Transfer requests required to be submitted by U.S.
Mail can only be cancelled in a written request submitted via U.S. Mail. We will
process any transfer and/or cancellation request as of the day we receive it, if
received before 1:00 p.m. Pacific Standard Time ("PST"). If received after 1:00
p.m. PST, the request will be processed on the next business day. This policy
will apply beginning October 1, 2002 through your next contract anniversary and
then during each contract year thereafter. Transfers pursuant to Dollar Cost
Averaging or Automatic Asset Rebalancing programs will not count towards Our
calculation of when you have exceeded the 15 transfers for purposes of
restricting your transfer rights. However, Dollar Cost Averaging transfers do
count towards the 15 free transfers for purposes of determining when we will
begin charging you for transfers over 15 (see Dollar Cost Averaging on page 20)

Regardless of the number of transfers you have made, we will monitor and may
terminate your transfer privileges if we determine that you are engaging in a
pattern of transfers that reflects a market timing strategy or is potentially
harmful to other policy owners. Some of the factors we will consider include:

         -the dollar amount of the transfer;
         -the total assets of the Variable Portfolio involved in the transfer;
         -the number of transfers completed in the current calendar quarter; or
         -whether the transfer is part of a pattern of transfers to take
         advantage of short-term market fluctuations or market inefficiencies.

Date: October 1, 2002

                Please keep this Supplement with your Prospectus.



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