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<p style="margin: 0in; margin-bottom: .0001pt;"><font size="2" style="font-family:times new roman,times"><b>MainStay VP Mid Cap Core Portfolio</b></font></p>
<p style="margin: 0in; margin-bottom: .0001pt;"><font size="2" style="font-family:times new roman,times"><b>MainStay VP Common Stock Portfolio</b></font></p>
<p style="margin: 0in; margin-bottom: .0001pt;"><font size="2" style="font-family:times new roman,times"><b>MainStay VP Balanced Portfolio</b></font></p>
<p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>MAINSTAY VP FUNDS TRUST</b></p>
<p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>MainStay VP Mid Cap Core Portfolio</b></p>
<p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Amended and Restated Supplement dated January 15, 2013 (“Supplement”)</p>
<p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;">to the Prospectus dated May 1, 2012, as supplemented</p>
<p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">This Supplement updates certain information contained in the Prospectus for MainStay VP Mid Cap Core Portfolio (“Portfolio”), a series of MainStay VP Funds Trust (“Trust”). You may obtain copies of the Portfolio’s Prospectus and Statement of Additional Information free of charge, upon request, by calling toll-free 1-800-598-2019, or by writing to New York Life Insurance and Annuity Corporation, 51 Madison Avenue, New York, NY 10010. Please review this important information carefully.</p>
<p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<div style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;">
<table style="margin-top: 0pt; width: 100%; font: 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0">
<tr style="vertical-align: top;">
<td style="width: 0px;"></td>
<td style="width: 0.25in;"><b>B.</b></td>
<td style="text-align: justify;"><b><u>Investment Process Changes</u></b></td>
</tr>
</table>
</div>
<p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">At a meeting held on December 10-12, 2012, the Trust’s Board of Trustees, including the Independent Trustees, approved changes to the Portfolio’s Principal Investment Strategies. Accordingly effective February 28, 2013, the subsection entitled <b>“Investment Process,”</b> in the section entitled <b>“Principal Investment Strategies,”</b> is deleted in its entirety and replaced as follows:</p>
<p style="text-align: justify; margin: 0pt 0.5in; font: 10pt times new roman, times, serif;"><b> </b></p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0.25in; font: 10pt times new roman, times, serif;"><b>Investment Process:</b> Cornerstone Capital Management Holdings LLC, the Portfolio's Subadvisor, seeks to construct a broadly diversified portfolio across sectors and industries using quantitative analysis to identify undervalued and overvalued securities. Investments are selected using an objective, disciplined and broadly-applied process while limiting exposure to risk. The Subadvisor seeks to control the Portfolio's exposure to risk by diversifying the Portfolio's portfolio over a large number of securities.</p>
<p style="text-align: justify; margin: 0pt 0.5in 0pt 27pt; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0.25in; font: 10pt times new roman, times, serif;">In unusual market conditions, the Portfolio may invest all or a portion of its assets in investment grade notes and bonds, cash and cash equivalents.</p>
<p style="text-align: justify; margin: 0pt 0.5in 0pt 27pt; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0.25in; font: 10pt times new roman, times, serif;">The Subadvisor may sell a security if it no longer believes the security will contribute to meeting the investment objective of the Portfolio, if better opportunities are identified, or if it determines the initial investment expectations are not being met.</p>
<p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>MAINSTAY VP FUNDS TRUST</b></p>
<p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>MainStay VP Common Stock Portfolio</b></p>
<p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Amended and Supplement dated January 15, 2013 (“Supplement”)</p>
<p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;">to the Prospectus dated May 1, 2012, as supplemented</p>
<p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">This Supplement updates certain information contained in the Prospectus for MainStay VP Common Stock Portfolio (“Portfolio”), a series of MainStay VP Funds Trust (“Trust”). You may obtain copies of the Portfolio’s Prospectus and Statement of Additional Information free of charge, upon request, by calling toll-free 1-800-598-2019, or by writing to New York Life Insurance and Annuity Corporation, 51 Madison Avenue, New York, NY 10010. Please review this important information carefully.</p>
<p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<table style="margin-top: 0pt; width: 100%; font: 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0">
<tr style="vertical-align: top;">
<td style="width: 0px;"></td>
<td style="width: 0.25in;"><b>B.</b></td>
<td style="text-align: justify;"><b><u>Investment Process Changes</u></b></td>
</tr>
</table>
<p style="text-align: justify; margin: 0pt 0px 0pt 0.25in; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">At a meeting held on December 10-12, 2012, the Trust’s Board of Trustees, including the Independent Trustees, approved changes to the Portfolio’s Principal Investment Strategies. Accordingly effective February 28, 2013, the subsection entitled “<b>Investment Process, </b>in the section entitled “<b>Principal Investment Strategies</b>,” is deleted in its entirety and replaced as follows:</p>
<p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0.25in; font: 10pt times new roman, times, serif;"><b>Investment Process:</b> Cornerstone Capital Management Holdings LLC, the Portfolio's Subadvisor, seeks to construct a broadly-diversified portfolio across sectors and industries using quantitative analysis to identify undervalued and overvalued securities. Investments are selected using an objective, disciplined and broadly-applied process while limiting exposure to risk. The Subadvisor seeks to control the Portfolio’s exposure to risk by diversifying the Portfolio’s portfolio over a large number of securities.</p>
<p style="text-align: justify; margin: 0pt 0.5in 0pt 22.5pt; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0.25in; font: 10pt times new roman, times, serif;">In unusual market conditions, the Portfolio may invest all or a portion of its assets in investment grade notes and bonds, cash and cash equivalents.</p>
<p style="text-align: justify; margin: 0pt 0.5in 0pt 22.5pt; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0.25in; font: 10pt times new roman, times, serif;">The Subadvisor may sell a security if it no longer believes the security will contribute to meeting the investment objective of the Portfolio, if better opportunities are identified, or if it determines the initial investment expectations are not being met.</p>
<p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>MAINSTAY VP FUNDS TRUST</b></p>
<p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>MainStay VP Balanced Portfolio</b></p>
<p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Amended and Restated Supplement dated January 15, 2013 (“Supplement”)</p>
<p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;">to the Prospectus dated May 1, 2012, as supplemented</p>
<p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0px; font: 10pt times new roman, times, serif;">This Supplement updates certain information contained in the Prospectus for MainStay VP Balanced Portfolio (“Portfolio”), a series of MainStay VP Funds Trust (“Trust”). You may obtain copies of the Portfolio’s Prospectus and Statement of Additional Information free of charge, upon request, by calling toll-free 1-800-598-2019, or by writing to New York Life Insurance and Annuity Corporation, 51 Madison Avenue, New York, NY 10010. Please review this important information carefully.</p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<table style="margin-top: 0pt; width: 100%; font: 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0">
<tr style="vertical-align: top;">
<td style="width: 0px;"></td>
<td style="width: 0.25in;"><b>B.</b></td>
<td style="text-align: justify; padding-right: 1.8pt;"><b><u>Principal Investment Strategy Change</u></b></td>
</tr>
</table>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0px; font: 10pt times new roman, times, serif;">At a meeting held on December 10-12, 2012, the Trust’s Board of Trustees, including the Independent Trustees, approved changes to the Portfolio’s Principal Investment Strategies. Accordingly, effective February 28, 2013, the last paragraph of the subsection entitled <b>“Equity Investment Process”</b> in the section entitled <b>“Principal Investment Strategies,” </b>is deleted and replaced as follows:</p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0.25in; font: 10pt times new roman, times, serif;">The Portfolio seeks to construct a broadly-diversified portfolio across countries, sectors and industries using quantitative analysis to identify undervalued and overvalued securities. Investments are selected using an objective, disciplined and broadly-applied process, while seeking to limit exposure to risk.</p>
<div><font size="2" style="font-family:times new roman,times"><b>Principal Investment Strategies</b></font></div>
<div><font size="2" style="font-family:times new roman,times"><b>Principal Investment Strategies</b></font></div>
<div><font size="2" style="font-family:times new roman,times"><b>Principal Investment Strategies</b></font></div>
<p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">At a meeting held on December 10-12, 2012, the Trust’s Board of Trustees, including the Independent Trustees, approved changes to the Portfolio’s Principal Investment Strategies. Accordingly effective February 28, 2013, the subsection entitled <b>“Investment Process,”</b> in the section entitled <b>“Principal Investment Strategies,”</b> is deleted in its entirety and replaced as follows:</p>
<p style="text-align: justify; margin: 0pt 0.5in; font: 10pt times new roman, times, serif;"><b> </b></p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0.25in; font: 10pt times new roman, times, serif;"><b>Investment Process:</b> Cornerstone Capital Management Holdings LLC, the Portfolio's Subadvisor, seeks to construct a broadly diversified portfolio across sectors and industries using quantitative analysis to identify undervalued and overvalued securities. Investments are selected using an objective, disciplined and broadly-applied process while limiting exposure to risk. The Subadvisor seeks to control the Portfolio's exposure to risk by diversifying the Portfolio's portfolio over a large number of securities.</p>
<p style="text-align: justify; margin: 0pt 0.5in 0pt 27pt; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0.25in; font: 10pt times new roman, times, serif;">In unusual market conditions, the Portfolio may invest all or a portion of its assets in investment grade notes and bonds, cash and cash equivalents.</p>
<p style="text-align: justify; margin: 0pt 0.5in 0pt 27pt; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0.25in; font: 10pt times new roman, times, serif;">The Subadvisor may sell a security if it no longer believes the security will contribute to meeting the investment objective of the Portfolio, if better opportunities are identified, or if it determines the initial investment expectations are not being met.</p>
<p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">At a meeting held on December 10-12, 2012, the Trust’s Board of Trustees, including the Independent Trustees, approved changes to the Portfolio’s Principal Investment Strategies. Accordingly effective February 28, 2013, the subsection entitled “<b>Investment Process, </b>in the section entitled “<b>Principal Investment Strategies</b>,” is deleted in its entirety and replaced as follows:</p>
<p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0.25in; font: 10pt times new roman, times, serif;"><b>Investment Process:</b> Cornerstone Capital Management Holdings LLC, the Portfolio's Subadvisor, seeks to construct a broadly-diversified portfolio across sectors and industries using quantitative analysis to identify undervalued and overvalued securities. Investments are selected using an objective, disciplined and broadly-applied process while limiting exposure to risk. The Subadvisor seeks to control the Portfolio’s exposure to risk by diversifying the Portfolio’s portfolio over a large number of securities.</p>
<p style="text-align: justify; margin: 0pt 0.5in 0pt 22.5pt; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0.25in; font: 10pt times new roman, times, serif;">In unusual market conditions, the Portfolio may invest all or a portion of its assets in investment grade notes and bonds, cash and cash equivalents.</p>
<p style="text-align: justify; margin: 0pt 0.5in 0pt 22.5pt; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0.25in; font: 10pt times new roman, times, serif;">The Subadvisor may sell a security if it no longer believes the security will contribute to meeting the investment objective of the Portfolio, if better opportunities are identified, or if it determines the initial investment expectations are not being met.</p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0px; font: 10pt times new roman, times, serif;">At a meeting held on December 10-12, 2012, the Trust’s Board of Trustees, including the Independent Trustees, approved changes to the Portfolio’s Principal Investment Strategies. Accordingly, effective February 28, 2013, the last paragraph of the subsection entitled <b>“Equity Investment Process”</b> in the section entitled <b>“Principal Investment Strategies,” </b>is deleted and replaced as follows:</p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0px; font: 10pt times new roman, times, serif;"> </p>
<p style="text-align: justify; margin: 0pt 1.8pt 0pt 0.25in; font: 10pt times new roman, times, serif;">The Portfolio seeks to construct a broadly-diversified portfolio across countries, sectors and industries using quantitative analysis to identify undervalued and overvalued securities. Investments are selected using an objective, disciplined and broadly-applied process, while seeking to limit exposure to risk.</p>
<p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><font size="2" style="font-family:times new roman,times"><b>PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE.</b></font></p>
<p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><font size="2" style="font-family:times new roman,times"><b>PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE.</b></font></p>
<p style="text-align: center; margin: 0pt 1.8pt 0pt 0px; font: 10pt times new roman, times, serif;"><font style="font-family: times new roman,times;; font-family:times new roman,times" size="2"><b>PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE.</b></font></p>
<p style="margin: 0in; margin-bottom: .0001pt;"><font size="2" style="font-family:times new roman,times"><b>MainStay VP International Equity Portfolio </b></font></p>
<p style="text-align: center; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"><b>MAINSTAY VP FUNDS TRUST</b></p>
<p style="widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> </p>
<p style="text-align: center; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"><b>MainStay VP International Equity Portfolio</b></p>
<p style="text-align: center; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"><b>MainStay VP S&P 500 Portfolio</b></p>
<p style="text-align: center; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> </p>
<p style="text-align: center; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;">Supplement dated January 15, 2013 (“Supplement”)</p>
<p style="text-align: center; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;">to the Prospectus dated May 1, 2012, as supplemented</p>
<p style="widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> <b><u>Subadvisor Name Change</u></b></p>
<p style="text-align: justify; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> </p>
<p style="text-align: justify; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;">Effective on or about January 25, 2013, Madison Square Investors LLC (“Madison Square Investors”), the Subadvisor to each Portfolio, will change its name to Cornerstone Capital Management Holdings LLC (“Cornerstone Capital Management”). Accordingly, upon the effective date of Madison Square Investors’ name change, the Prospectus is revised to reflect that Cornerstone Capital Management is the Portfolios’ Subadvisor.</p>
<div align="center"><font size="2" style="font-family:times new roman,times"><strong>PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE.</strong></font></div>
<p style="margin: 0in; margin-bottom: .0001pt;"><font size="2" style="font-family:times new roman,times"><b>VP S&P 500 Portfolio</b></font></p>
<p style="text-align: center; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"><b>MAINSTAY VP FUNDS TRUST</b></p>
<p style="widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> </p>
<p style="text-align: center; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"><b>MainStay VP International Equity Portfolio</b></p>
<p style="text-align: center; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"><b>MainStay VP S&P 500 Portfolio</b></p>
<p style="text-align: center; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> </p>
<p style="text-align: center; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;">Supplement dated January 15, 2013 (“Supplement”)</p>
<p style="text-align: center; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;">to the Prospectus dated May 1, 2012, as supplemented</p>
<p style="widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"><b><u>Subadvisor Name Change</u></b></p>
<p style="text-align: justify; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;"> </p>
<p style="text-align: justify; widows: 2; text-transform: none; text-indent: 0px; margin: 0pt 0px; font: 10pt 'times new roman', times, serif; white-space: normal; orphans: 2; letter-spacing: normal; color: #000000; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;">Effective on or about January 25, 2013, Madison Square Investors LLC (“Madison Square Investors”), the Subadvisor to each Portfolio, will change its name to Cornerstone Capital Management Holdings LLC (“Cornerstone Capital Management”). Accordingly, upon the effective date of Madison Square Investors’ name change, the Prospectus is revised to reflect that Cornerstone Capital Management is the Portfolios’ Subadvisor.</p>
<div align="center"><font size="2" style="font-family:times new roman,times"><strong>PLEASE RETAIN THIS SUPPLEMENT FOR YOUR FUTURE REFERENCE.</strong></font></div>
Amended to include two additional series.