497 1 d416623_497.txt This is filed pursuant to Rule 497(e). File Nos. 33-18647 and 811-5398. ALLIANCEBERNSTEIN INVESTMENT RESEARCH AND MANAGEMENT [LOGO] SM ALLIANCEBERNSTEIN VARIABLE PRODUCTS SERIES FUND, INC. AllianceBernstein Worldwide Privatization Portfolio --------------------------------------------------------------------------- Supplement dated July 11, 2003 to the Prospectuses dated May 1, 2003 of AllianceBernstein Variable Products Series Fund, Inc. that offer the Class A and Class B shares of the AllianceBernstein Worldwide Privatization Portfolio (the "Portfolio"). This Supplement supersedes certain information under the heading "Management of the Funds-Portfolio Managers" in the Prospectuses. Michael Levy joins Edward Baker III as the persons who are primarily responsible for the day-to-day management of the Portfolio. Mr. Levy is a Vice President, Specialty Equity Portfolios, of Alliance Capital Management Corporation with which he has been associated for the past five years. You should retain this Supplement for future reference. --------------------------------------------------------------------------- SM This is a service mark used under license from the owner. 00250-0292 #416623