VARIABLE ANNUITY ACCOUNT B
                    Aetna Life Insurance and Annuity Company
       Supplement dated June 21, 1996 to the Prospectus dated May 1, 1996
      Aextra Assets -- AetnaPlus -- Individual Variable Annuity Contracts
  Made Availabe to Individuals who wish to Supplement their Retirement Income
 
AT  A JUNE 17, 1996 SPECIAL MEETING  OF THE SHAREHOLDERS OF AETNA VARIABLE FUND,
AETNA INCOME  SHARES  AND  AETNA  INVESTMENT  ADVISERS  FUND,  INC.,  ("FUNDS"),
SHAREHOLDERS  OF  THE  RESPECTIVE  FUNDS APPROVED  A  PROPOSAL  TO  INCREASE THE
ADVISORY FEES FOR EACH  OF THE FUNDS EFFECTIVE  AUGUST 1, 1996. THEREFORE,  THIS
SUPPLEMENT  AMENDS THE INFORMATION CONTAINED IN  THE MAY 1, 1996 PROSPECTUS (THE
"PROSPECTUS"), AS DESCRIBED BELOW.
 
- - THE FOLLOWING TABLE MODIFIES THE INFORMATION CONTAINED UNDER "ANNUAL  EXPENSES
  OF  THE FUNDS" ON PAGE FEE TABLE - 3 OF THE PROSPECTUS TO REFLECT INCREASES IN
  ADVISORY FEES  OF THE  RESPECTIVE FUNDS  EFFECTIVE AUGUST  1, 1996  AS IF  THE
  INCREASES  HAD BEEN IN EFFECT FOR THE  YEAR ENDED DECEMBER 31, 1996. THE OTHER
  INVESTMENT OPTIONS ARE NOT AFFECTED BY THIS CHANGE.
 


                                                          INVESTMENT                         TOTAL FUND
                                                         ADVISORY FEES   OTHER EXPENSES*   ANNUAL EXPENSES
                                                         -------------   ---------------   ---------------
                                                                                  
Aetna Variable Fund                                          0.50%            0.06%             0.56%
Aetna Income Shares                                          0.40%            0.08%             0.48%
Aetna Investment Advisers Fund, Inc.                         0.50%            0.08%             0.58%

 
* As of May 1, 1996, the  Company provides administrative services to the  Funds
  and assumes the Funds' ordinary recurring direct costs under an Administrative
  Services  Agreement. The "Other  Expenses" shown are not  based on figures for
  the year  ended December  31, 1995,  but reflect  the fee  payable under  this
  Agreement.
 
- - THE  FOLLOWING ILLUSTRATIONS  APPLY TO THE  FUNDS EFFECTIVE AUGUST  1, 1996 TO
  REFLECT THE  INCREASES  IN  THE  RESPECTIVE ADVISORY  FEES  AND  MODIFIES  THE
  INFORMATION  FOUND IN THE "HYPOTHETICAL  ILLUSTRATION (EXAMPLE)" FOUND ON PAGE
  FEE TABLE - 4 IN THE PROSPECTUS:
 


                                                     1 YEAR   3 YEARS   5 YEARS   10 YEARS
                                                     ------   -------   -------   --------
                                                                      
 Aetna Variable Fund                                   $19      $ 59      $101      $219
 Aetna Income Shares                                   $18      $ 56      $ 97      $210
 Aetna Investment Advisers Fund, Inc.                  $19      $ 59      $102      $221

 
- -THE FOLLOWING INFORMATION SUPPLEMENTS  THE INFORMATION FOUND UNDER  "INVESTMENT
 OPTIONS  -- THE FUNDS" WITH RESPECT TO  THE INVESTMENT ADVISERS FOUND ON PAGE 3
 IN THE PROSPECTUS:
 
Effective August 1,  1996, Aeltus  Investment Management,  Inc. ("Aeltus")  will
become the subadviser for the following Funds:
 
Aetna Variable Fund
Aetna Income Shares
Aetna Variable Encore Fund(1)
Aetna Investment Advisers Fund, Inc.
 
(1) It  is  currently expected  that the  proposal relating  to the  approval of
    Aeltus as a subadviser for the Aetna Variable Encore Fund will be  submitted
    to  shareholders at a meeting to be held on July 19, 1996. If approved, such
    proposal would  be  effective  on  August  6,  1996.  (Refer  to  your  Fund
    prospectus for further information.)
 
Form No. X76002.1                                                      June 1996