ENDEAVOR SERIES TRUST


                        Supplement dated August 15, 2000
            to the Prospectus and Statement of Additional Information
                                dated May 1, 2000



Change in Investment Advisers and Portfolio Names


Effective on or about October 9, 2000, Endeavor Management Co. ("Endeavor"), the
manager of Endeavor  Series  Trust,  will replace the advisers of and rename the
following Portfolios:

      Endeavor Opportunity Value Portfolio, currently advised by OpCap Advisors,
     will become the Jennison  Growth  Portfolio and will be advised by Jennison
     Associates LLC  ("Jennison").  Jennison is located at 466 Lexington Avenue,
     New York, NY 10017.

      Endeavor  Select   Portfolio,   currently   advised  by  Montgomery  Asset
     Management, LLC, will become the Capital Guardian Global Portfolio and will
     be advised by The Capital  Guardian  Trust  Company  ("Capital  Guardian").
     Capital  Guardian  is located at 333 South Hope  Street,  Los  Angeles,  CA
     90071.

      Endeavor Value Equity Portfolio, currently advised by OpCap Advisors, will
     become the Capital  Guardian Value Portfolio and will be advised by Capital
     Guardian.


Endeavor  pays the fees of each  adviser.  To obtain  these  quality  investment
advisers,  Endeavor is required to pay higher investment  advisory fees than are
currently being paid to each Portfolio's current investment adviser.  Therefore,
Endeavor has asked the Trustees for, and the Trustees have approved, an increase
in the management fee to cover the additional  costs.  These  increases  require
shareholder approval.  Further information will be found in the proxy statement,
which will be mailed to Contract Owners invested in these Portfolios on or about
August 18, 2000.

In  connection  with the  change in  adviser,  the  investment  strategy  of the
Jennison  Growth  Portfolio will change from a value investing style to a growth
investing style. The Portfolio will invest  substantially all, but at least 65%,
of its total assets in equity securities,  principally common stocks,  preferred
stocks, warrants,  rights and depositary receipts, of U.S. companies with market
capitalizations  of at least $1 billion and above average  prospects for growth.
The adviser looks for companies  with  superior  absolute and relative  earnings
growth,  above  average  revenue and earnings per share growth,  sustainable  or
improving profitability and strong balance sheets.



                              ENDEAVOR SERIES TRUST


                        Supplement dated August 15, 2000
            to the Prospectus and Statement of Additional Information
                                dated May 1, 2000



Change in Investment Adviser and Portfolio Name


Effective on or about October 9, 2000, Endeavor Management Co. ("Endeavor"), the
manager of Endeavor  Series  Trust,  will  replace the adviser of and rename the
following Portfolio:

Endeavor  Value Equity  Portfolio,  currently  advised by OpCap  Advisors,  will
become the Capital  Guardian Value  Portfolio and will be advised by The Capital
Guardian Trust Company ("Capital Guardian").  Capital Guardian is located at 333
South Hope Street, Los Angeles, CA 90071.

Endeavor pays the fee of the adviser. To obtain this quality investment adviser,
Endeavor is required to pay a higher  investment  advisory fee than is currently
being paid to the Portfolio's  current investment adviser.  Therefore,  Endeavor
has asked the Trustees for, and the Trustees have  approved,  an increase in the
management fee to cover the additional costs. The increase requires  shareholder
approval.  Further information will be found in the proxy statement,  which will
be mailed to Contract  Owners  invested in this Portfolio on or about August 18,
2000.