SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
(Amendment No. )

Filed by the Registrant [X]

Filed by a Party other than the Registrant [_]

Check the appropriate box:

[_] Preliminary Proxy Statement

[_] Confidential, for use of the Commission only (as permitted by Rule
14a-6(e)(2))

[X] Definitive Proxy Statement

[_] Definitive Additional Materials

[_] Soliciting Material Pursuant to Section 240.14a-12

Allmerica Securities Trust
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(Name of Registrant as Specified In Its Charter)

________________________________________________________________________________
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

[X] No fee required

[_] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

(1) Title of each class of securities to which transaction applies:

(2) Aggregate number of securities to which transaction applies:

(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (Set forth the amount on which
the filing fee is calculated and state how it was determined):

(4) Proposed maximum aggregate value of transaction:

(5) Total fee paid:

[_] Fee paid previously with preliminary materials.

[_] Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.

(1) Amount Previously Paid:

(2) Form, Schedule or Registration Statement No.:

(3) Filing Party:

(4) Date Filed:

ALLMERICA SECURITIES TRUST
440 LINCOLN STREET, WORCESTER, MASSACHUSETTS 01653

March 10, 2003

Dear Shareholders:
Enclosed is a Notice of the Annual Meeting of Shareholders to be held on
April 16, 2003, to consider the election of Trustees.
Your Trustees unanimously recommend that you vote for the proposal by
marking, dating and signing the enclosed proxy and returning it promptly.

Respectfully,

John P. Kavanaugh
Chairman

NOTICE: IT IS IMPORTANT THAT YOUR SHARES BE REPRESENTED AT THE MEETING,
REGARDLESS OF THE NUMBER OF SHARES YOU HOLD. PLEASE SIGN AND RETURN
PROMPTLY THE ENCLOSED PROXY IN THE ACCOMPANYING POSTAGE PAID ENVELOPE.

Allmerica Securities Trust
440 LINCOLN STREET, WORCESTER, MASSACHUSETTS 01653

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NOTICE OF THE ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD APRIL 16, 2003

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To the Shareholders:

The Annual Meeting of the Shareholders (the "Meeting") of Allmerica
Securities Trust (the "Trust") will be held at the offices of the Trust, 440
Lincoln Street, Worcester, Massachusetts 01653, Wednesday, April 16, 2003, at
9:00 a.m., local time, for the following purposes:

1. To elect Trustees, each to serve until the next Annual Meeting of
Shareholders and until his or her successor is duly elected and
qualified;

2. To transact such other business as may properly come before the Meeting,
or any adjournment thereof.

Only shareholders of record at the close of business on February 28, 2003
will be entitled to notice of and to vote at the Meeting and any adjournment
thereof.

By order of the Trustees,

GEORGE M. BOYD
Secretary

March 10, 2003

ALLMERICA SECURITIES TRUST
440 LINCOLN STREET, WORCESTER, MASSACHUSETTS 01653

PROXY STATEMENT

March 10, 2003

GENERAL INFORMATION

The enclosed proxy is solicited by and on behalf of the Trustees of
Allmerica Securities Trust (the "Trust") to be voted at the Annual Meeting of
Shareholders (the "Meeting") of the Trust to be held at the offices of the
Trust, 440 Lincoln Street, Worcester, MA 01653 on Wednesday, April 16, 2003 at
9:00 a.m., local time, for the purposes set forth in the accompanying Notice.
Any Shareholder giving a proxy has the power to revoke it prior to its exercise
by submission of a later dated proxy, by voting in person, or by letter to the
Secretary of the Trust. This solicitation is being made by use of the mails,
but may also be made by telephone, telefax and personal interviews. The cost of
preparing and mailing this Proxy Statement, Notice and Form of Proxy and any
additional material which may hereafter be furnished in connection with the
solicitation of the enclosed proxy will be paid by the Trust. The approximate
date for mailing the Proxy Statement and Form of Proxy to all Shareholders is
on or about March 10, 2003.

On February 28, 2003, the Trust had outstanding 8,592,306 shares. Each share
is entitled to one vote and each fractional share to an equivalent fractional
vote. Only Shareholders of record at the close of business on February 28, 2003
will be entitled to notice of and to vote at the Meeting.

In the event that a quorum of Shareholders (30% of all shares issued and
outstanding and entitled to vote at the Meeting) is not represented at the
Meeting or at any adjournments thereof, or, even though a quorum is so
represented, if sufficient votes in favor of the matters set forth in the
Notice of Meeting are not received by April 16, 2003, the persons named as
proxies may propose one or more adjournments of the Meeting for a period or
periods of not more than 90 days in the aggregate and further solicitation of
proxies may be made. Any such adjournment may be effected by a majority of the
votes properly cast in person or by proxy on the question at the session of the
Meeting to be adjourned. The persons named as proxies will vote in favor of
such adjournment those proxies which they are entitled to vote in favor of the
matters set forth in the Notice of the Meeting. They will vote against any such
adjournment those proxies required to be voted against any such matters.

The Trust's Annual Report for the fiscal year ended December 31, 2002,
including financial statements, may be obtained, without charge, by calling or
writing Shareholder Relations, The Bank of New York, P.O. Box 11258, New York,
NY 10286-1258, 1-800-524-4458.

The Trust's investment adviser is Opus Investment Management, Inc. ("OIM"),
a wholly-owned subsidiary of Allmerica Financial Corporation ("AFC"), a
Delaware holding company for a group of affiliated companies. The address of
OIM and AFC is 440 Lincoln Street, Worcester, MA 01653. Investors Bank & Trust
Company calculates net asset value per share, maintains general accounting
records and performs certain administrative services for the Trust. Its address
is 200 Clarendon Street, Boston, MA 02116.

1. ELECTION OF TRUSTEES

The Board of Trustees ("Board") currently consists of nine members, of whom
Mark A. Hug, who currently serves on the Board, is a nominee for election by
the Shareholders. The remaining eight members are nominees for re-election. The
number of members of the Board has been fixed by the Board at nine. The
Agreement and Declaration of Trust provides that the Trust shall have a Board
composed of not less than three nor more than 15 Trustees to be elected by
ballot by the Shareholders.

Biographical data for the current Trustees of the Trust who have been
nominated for election or re-election is set forth below. Information relating
to the principal officers of the Trust is set forth under "Information
Pertaining to Allmerica Financial Corporation." It is proposed at the Meeting
to elect or re-elect, as applicable, the persons listed below as Trustees, each
to serve as such until the next Annual Meeting of Shareholders and until his or
her successor is elected and qualified. All are now Trustees and all have
stated they would be willing to serve if elected or re-elected. There are no
arrangements between any Trustee and any other person pursuant to which he or
she was or is to be selected as a Trustee.

Number of
Portfolios in
Term of Office Fund Complex Other
Name, Address Position(s) Held and Length of Principal Occupation(s) Overseen by Directorships
and Age(1) with Trust Time Served During Past 5 Years(2) Trustee Held by Trustee
------------- ---------------- -------------- ----------------------- ------------- ---------------

P. Kevin Condron (57)..... Trustee, Member of 1 Year Term President and Chief Executive 15 Director,
the Audit Served Since Officer, The Granite Group Banknorth
Committee and 1998 (wholesale plumbing and Group.
Fund Operations heating), 1997-present.
Committee

Jocelyn S. Davis (49)..... Trustee, Member of 1 Year Term President, Nelson Hart, LLC 15 None
the Audit Served Since (consulting) 2002-present;
Committee and 2001 Beers & Cutler (professional
Fund Operations services), 2001-2002; Chief
Committee Financial Officer, AARP (non-
profit), 1996-2001; Certified
Public Accountant.

Cynthia A. Hargadon (48).. Trustee, Member of 1 Year Term President, Hargadon Associates 15 Director,
the Fund Operations Served Since (asset management consulting), Wilshire Target
Committee, 1997 2002-present; President, Funds, 2001-
Investment Potomac Asset Mgt. Inc., present.
Operations 2000-2002; Director of
Committee and Investments, National
Governance Automobile Dealers
Committee Association, 1999-2000;
President, Stable Value
Investment Association
(investment trade group),
1996-1999.
T. Britton Harris, IV (44) Trustee, Member of 1 Year Term President, Verizon Investment 15 None
the Investment Served Since Management Corporation,
Operations 2001 1990-present.
Committee, Fund
Operating
Committee and
Governance
Committee

Gordon Holmes (64)..... Trustee, Chairman 1 Year Term Instructor at Bentley College, 15 None
of the Audit Served Since 1998-present; Instructor at
Committee and 1991 Boston University, 1997-1998;
Member of the Fund Certified Public Accountant;
Operations Retired Partner, Tofias,
Committee Fleishman, Shapiro & Co., P.C.
(Accountants).

Attiat F. Ott (67)..... Trustee, Chairman 1 Year Term Professor of Economics and 15 None
of the Fund Served Since Director of the Institute for
Operations 1982 Economic Studies, Clark
Committee and University, 950 Main Street,
Member of the Worcester, MA 01910.
Audit Committee

Ranne P. Warner (58)... Trustee, Chairman 1 Year Term President, Centros Properties, 15 Director,
of the Governance Served Since USA; Owner, Ranne P. Warner Wainwright
Committee, 1991 and Company; Blackstone Bank & Trust
Member of the Fund Exchange LLC (real estate) Co. (commercial
Operations 2001-present. bank).
Committee and
Investment
Operations
Committee

*Mark A. Hug (45)...... Trustee, Member of 1 Year Term President and CEO, First 15 None
the Investment Served Since Allmerica Financial Life
Operations 2003 Insurance Company ("First
Committee Allmerica") and Allmerica
Financial Life Insurance and
Annuity Company ("Allmerica
Financial Life"); Senior Vice
President, Equitable Life
(product and marketing) to
1999.

*John P. Kavanaugh (48) Chairman, Trustee 1 Year Term President, Opus Investment 15 None
and President, Served Since Management, Inc ("OIM ");
Chairman of the 1995 Vice President, Director, Chief
Investment Investment Officer, First
Operations Allmerica and Allmerica
Committee Financial Life.

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* Messrs. Hug and Kavanaugh are "interested persons", as defined in the
Investment Company Act of 1940 as amended, of the Trust and of Allmerica
Financial Corporation ("AFC") because of their affiliations with AFC.
(1) The business address of each person is 440 Lincoln Street, Worcester,
Massachusetts 01653.
(2) Except as otherwise noted, each individual has held the office indicated or
other offices in the same organization for the last five years.

OWNERSHIP OF SHARES BY TRUSTEES
AS OF JANUARY 31, 2003

Aggregate Dollar Range
of Equity Securities in
Dollar Range of All Funds Overseen by
Equity Securities in Trustee in Family of
Name of Trustee the Trust Investment Companies
--------------- -------------------- -----------------------

P. Kevin Condron.............. $1--$10,000 $1--$10,000
Jocelyn S. Davis.............. None None
Cynthia A. Hargadon........... $10,001--$50,000 $10,001--$50,000
T. Britton Harris, IV......... None None
Gordon Holmes................. $1--$10,000 $1--$10,000
Attiat F. Ott................. $1--$10,000 $1--$10,000
Ranne P. Warner............... $1--$10,000 $1--$10,000
Mark A. Hug................... None None
John P. Kavanaugh............. $1--$10,000 $1--$10,000

The Trust's Board, which is currently composed of seven non-interested
Trustees and two interested Trustees, met four times during the fiscal year
ended December 31, 2002. The Trustees received the following compensation
during that year. No officer of the Trust received compensation from the Trust
for serving in such capacity.

COMPENSATION TABLE

Total Compensation from
Aggregate Compensation Trust and Fund Complex
Name of Person and Position from Trust Paid to Trustees
--------------------------- ---------------------- -----------------------

P. Kevin Condron........................................... $3,000 $35,750
Trustee, Member of the Audit Committee and Fund
Operations Committee
Jocelyn S. Davis........................................... $3,000 $35,750
Trustee, Member of the Audit Committee and Fund
Operations Committee
Cynthia A. Hargadon........................................ $3,009 $41,250
Trustee, Member of the Fund Operations Committee,
Investment Operations Committee and Governance
Committee
T. Britton Harris, IV...................................... $3,009 $37,250
Trustee, Member of the Governance Committee, Investment
Operations Committee and Fund Operations Committee
Gordon Holmes.............................................. $3,000 $37,250
Trustee, Chairman of the Audit Committee and Member of
the Fund Operations Committee

Attiat F. Ott................................................ $2,750 $33,750
Trustee, Chairman of the Fund Operations Committee and
Member of the Audit Committee
Ranne P. Warner.............................................. $3,009 $41,500
Trustee, Chairman of the Governance Committee, Member of
the Fund Operations Committee and Investment Operations
Committee
John P. Kavanaugh............................................ None None
Trustee, Chairman of the Board and President; Chairman of
the Investment Operations Committee
Mark A. Hug.................................................. None None
Trustee, Member of the Investment Operations Committee

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* Mr. Hug was elected by the Trustees as a Trustee and a member of the
Investment Operations Committee effective January 7, 2003.

The Trust has no retirement or pension plan for its Trustees. None of the
Trustees who is not an "interested person" of the Trust, and none of their
respective immediate family members (spouse, child residing in household, and
dependents), owns any security of AFC or any of its affiliates. The Trust does
not have a compensation committee; such matters are considered by the Trust's
Governance Committee.

The Trust's Fund Operations Committee is composed entirely of Trustees who
are not interested persons of the Trust, AFC or its affiliates. Currently, Dr.
Ott (Chairman), Mr. Condron, Ms. Davis, Ms. Hargadon, Mr. Harris, Mr. Holmes
and Ms. Warner comprise the Committee. The Committee separately reviews and
makes recommendations to the Trustees on a variety of matters, including the
various contractual arrangements between the Trust and its investment adviser
and transfer and shareholder servicing agent, proposals to continue or modify
the terms of such agreements, and certain matters where there may be a possible
conflict of interest between the interests of the Trust and AFC or its
affiliates. During the fiscal year ended December 31, 2002, the Committee had
two meetings relating to the Trust.

The Trust's Audit Committee is composed entirely of Trustees who are not
interested persons of the Trust, AFC or its affiliates. Currently, Mr. Holmes
(Chairman), Mr. Condron, Ms. Davis and Dr. Ott comprise the Committee. This
Committee reviews and evaluates the audit function, including recommending to
the Board the independent accountants to be selected for the Trust, reviewing
all auditing procedures and arrangements and reviewing qualifications of key
personnel performing audit work. During the fiscal year ended December 31,
2002, the Committee had five meetings.

The Trust's Investment Operations Committee is composed of three Trustees
who are not interested persons of the Trust, AFC or its affiliates; two
Trustees who are interested persons and one non-Trustee participant. Currently,
Mr. Kavanaugh (Chairman), Ms. Hargadon, Mr. Harris, Mr. Hug and Ms. Warner are
the Trustees who serve on the Committee. The non-Trustee participant is Donald
F. Speakman. The Committee monitors investment adviser performance and analyzes
Fund data. During the fiscal year ended December 31, 2002, the Committee had
five meetings relating to the Trust.

The Trust's Governance Committee is composed entirely of Trustees who are
not interested persons of the Trust, AFC or its affiliates. Currently Ms.
Warner (Chairman), Ms. Hargadon and Mr. Harris comprise the Committee. The
Committee is charged with the duties of reviewing the composition and
compensation of the Trustees, proposing additional non-interested Trustees for
election to the Board and reviewing major personnel changes of the Trust.
During the fiscal year ended December 31, 2002, the Committee had two meetings.
The Governance Committee will consider nominees recommended by Shareholders.
Recommendations should be submitted to the Committee in care of the Secretary
of the Trust.

If any of the nominees for election as Trustees shall by reason of death or
for any other reason become unavailable as a candidate at the Meeting, votes
pursuant to the enclosed proxy will be cast for a substitute candidate in the
discretion of the persons named as proxies therein, or their substitutes,
present and acting at the Meeting, or the Trustees may reduce the size of the
Board.

Section 16(a) Beneficial Ownership Reporting Compliance

Section 16(a) of the Securities Exchange Act of 1934 and Section 30(h) of
the 1940 Act require the Trust's Trustees and officers, its investment adviser
and certain affiliated persons of the investment adviser and persons who own
more than ten percent of the Trust's shares to file reports of initial
ownership and changes in ownership with the Securities and Exchange Commission
("SEC") and the New York Stock Exchange. These individuals are required by SEC
regulations to furnish the Trust with copies of all Section 16(a) forms they
file.

To the Trust's knowledge, based solely on review of the copies of such
reports furnished to the Trust and written representations that no other
reports were required, all Section 16(a) filing requirements applicable to its
officers, Trustees, greater than ten percent beneficial owners and other
persons subject to Section 16(a) reporting were complied with during the fiscal
year ended December 31, 2002.

Recommended Shareholder Action and Required Vote

The Trustees recommend that the Shareholders vote for each nominee. A
plurality of the votes properly cast in person or by proxy at the Meeting is
required for the election of the Trustees.

2. OTHER MATTERS AND DISCRETION OF PERSONS NAMED AS PROXIES

While the Meeting is called to act upon any business that may properly come
before it, at the date of this Proxy Statement the only business which
management intends to present or knows that others will present is the business
mentioned in the Notice of the Meeting. If any other matters lawfully come
before the Meeting, and on all procedural matters at said Meeting, it is
intended that the enclosed proxy shall be voted in accordance with the best
judgment of the persons named as proxies therein, or their substitutes, present
and acting at the Meeting. A proxy may confer discretionary authority to vote
on matters brought before an annual meeting of shareholders if the Trust did
not have notice of the matter at least 45 days before the date on which the
Trust first mailed its proxy materials for the prior year's annual meeting of
shareholders (or date specified by an advance notice provision).

Date for Receipt of Shareholder Proposals

No proposals were submitted by Shareholders for presentation at the Meeting.
Shareholder proposals which are intended to be presented at the Annual Meeting
in 2004 must be received at the principal executive offices of the Trust, 440
Lincoln Street, Worcester, MA 01653, on or before November 1, 2003, for
inclusion in the proxy statement and proxy related to such meeting.

INFORMATION PERTAINING TO ALLMERICA FINANCIAL CORPORATION

The following table lists the executive officers of the Trust, each of whom
is an employee of AFC or its affiliates:

Name and Age Served
of Officers as of 2/28/03 Position with the Trust Since
------------------------- ----------------------- ------

John P. Kavanaugh (48).... Chairman of the Board, President and
Trustee 1995
Paul T. Kane (46)......... Assistant Vice President and Treasurer
(Principal Accounting Officer,
Principal) Financial Officer) 1999
Richard J. Litchfield (35) Vice President 2001
Ann K. Tripp (44)......... Vice President 2000
Donald P. Wayman (45)..... Vice President 2003
George M. Boyd (58)....... Secretary 1997

Messrs. Kavanaugh, Litchfield, Wayman and Boyd, and Ms. Tripp have been
employees of AFC or its affiliates for the last five years. Mr. Kane was Vice
President/Treasurer of Tax & Financial Services, BISYS Fund Services,
1997-1999, and Director of Shareholder Reporting, Fidelity Investments,
1992-1997.

Quorum and Method of Tabulation

Thirty percent (30%) of the shares entitled to vote, present in person or
represented by proxy, constitute a quorum for the transaction of business at
the Meeting. Votes cast by proxy or in person at the Meeting will be counted by
persons appointed by the Trust to act as tellers for the Meeting.

The tellers will count the total number of votes cast "for" approval of the
proposals for purposes of determining whether sufficient affirmative votes have
been cast. The tellers will count shares represented by proxies that withhold
authority to vote for a nominee for election as a Trustee or that reflect
abstentions or "broker nonvotes" (i.e., shares held by brokers or nominees as
to which (i) instructions have not been received from the beneficial owners or
persons entitled to vote and (ii) the broker or nominee does not have the
discretionary voting power on a particular matter) as shares that are present
and entitled to vote on the matter for purposes of determining the presence of
a quorum. With respect to the election of Trustees, neither withholding
authority to vote nor abstentions nor broker nonvotes have any effect on the
outcome of the voting on the matter.

Audit Fees, Financial Information Systems Design and Implementation Fees and
All Other Fees

Set forth below is a table listing the fees that PricewaterhouseCoopers LLP,
the Trust's independent accountants, billed to the Trust and the fees billed to
OIM, the Trust's investment adviser, for the fiscal year ended December 31,
2002.

Financial Information
Audit Systems Design and Other
Fees Implementation Fees Fees Total
------- --------------------- ----- -------

Allmerica Securities Trust...... $23,500 None None $23,500
Opus Investment Management, Inc. $ 8,230 None None $ 8,230

Audit Committee Report

As required by Federal securities regulations, the Trust's Audit Committee
submits the following report regarding its oversight of the Trust's financial
reporting process:

1. The Audit Committee reviewed and discussed the Trust's audited financial
statements with management;

2. The Audit Committee and the independent accountants have discussed the
matters regarding SAS 61 (Codification of Statements on Auditing
Standards, AU 380) relating to the quality and consistency of accounting
principles. This communication between the Audit Committee and the
independent accountants will assist the Audit Committee in performing
its oversight role in reviewing auditing procedures and evaluating the
audit function as a whole.

3. The Audit Committee has received the written disclosures and the letter
from the independent accountants required by the Independence Standards
Board Standard No. 1, and has discussed with the independent accountants
the independent accountants' independence.

4. The Audit Committee has recommended to the Board of Trustees of the
Trust that the audited financial statements be included in the Trust's
Annual Report to Shareholders for the last fiscal year.

The Trust's Audit Committee has considered the effect, if any, that any
non-audit services provided by PricewaterhouseCoopers LLP have or might have on
the continued independence of PricewaterhouseCoopers LLP.

The Audit Committee Report is submitted by the Audit Committee comprised of
Gordon Holmes (Chairman), P. Kevin Condron, Jocelyn S. Davis and Attiat F. Ott,
all disinterested Trustees.

A determination has been made that the members of the Trust's Audit
Committee are independent, financially literate and at least one member of the
Committee has accounting or related financial management expertise as defined
under applicable New York Stock Exchange standards.

APPENDIX

ALLMERICA INVESTMENT TRUST
ALLMERICA SECURITIES TRUST

AUDIT COMMITTEE CHARTER

1. Composition: The Audit Committee shall be composed of not less than
three Trustees who are elected by a majority of the full Board of Trustees.
Each Trustee who is a member of the Committee shall be an unaffiliated,
non-interested person, as defined under the Investment Company Act of 1940 (the
"1940 Act") and, with respect to Allmerica Securities Trust, an independent
Trustee in accordance with New York Stock Exchange (NYSE) rules. All members of
the Audit Committee must be "financially literate," i.e., familiar with basic
finance and accounting practices, and at least one member of the Committee must
have accounting or related financial management expertise. Financial literacy
shall be determined in accordance with NYSE rules. The Committee shall appoint
a Chairperson to preside at all meetings of the Committee.

2. Purpose: The purpose of the Audit Committee is to assist the Board of
Trustees in fulfilling its oversight function. The Committee assists the
Trustees in determining that the assets of the Trust are properly safeguarded
and valued and that the Trusts' policies are being carried out, and in
monitoring the Trusts' financial reporting to their shareholders, the general
public and applicable regulatory agencies.

3. General responsibilities of the Audit Committee are:

(a) to oversee the Trusts' accounting and financial reporting policies
and practices, their internal controls and, as appropriate, the internal
controls of the Trusts' service providers;

(b) to oversee the quality and objectivity of the Trusts' financial
statements and the audit thereof by the Trusts' independent auditors; and

While the Committee has the responsibility and powers set forth in this
Charter, it is not the duty of the Committee (i) to plan or conduct audits,
which is the responsibility of the independent auditors, or (ii) to maintain or
arrange for the maintenance of appropriate systems for accounting and internal
controls or (iii) to determine that the Trusts' financial statements are
complete and accurate and are in accordance with generally accepted accounting
principles, which are the responsibilities of the Trusts' management.
Similarly, while it is the duty of the Committee to investigate disagreements,
if any, between management and the independent auditors, it is not the duty of
the Committee to resolve such disagreements.

4. To carry out the responsibilities listed in item 3, the Audit Committee
shall have the following duties and powers:

(a) to recommend on a timely basis the selection, retention or
termination of auditors and, in connection therewith, to evaluate the
independence of the auditors, including the nature of any auditing,
consulting or other services provided to the investment adviser or
sub-adviser(s) of the Trusts or their affiliates, and to receive the
auditors' specific representations as to their independence; and, with
respect to Allmerica Securities Trust, (i) the independent auditors for the
Trust are ultimately accountable to the Board of Trustees and Audit
Committee of the Trust, and the Audit Committee and Board of Trustees have
the ultimate authority and responsibility to select, evaluate and, where
appropriate, replace the independent auditors (or to nominate the
independent auditors to be proposed for shareholder approval in any proxy

statement); and (ii) the Audit Committee is responsible for ensuring that
the independent auditors submit on a periodic basis to the Audit Committee a
formal written statement delineating all relationships between the auditors
and the Trust, and the Audit Committee is responsible for actively engaging
in a dialogue with the independent auditors with respect to any disclosed
relationships or services that may impact the objectivity and independence
of the independent auditors and for recommending that the Board of Trustees
take appropriate action in response to the independent auditors' report to
satisfy itself of the independent auditors' independence;

(b) to meet with the Trusts' independent auditors, including private
meetings, as necessary (i) to review the arrangements for and scope of the
annual audit and any special audits; (ii) to discuss any matters of concern
relating to the Trusts' financial statements, including any adjustments to
such statements recommended by the auditors, or other results of said
audit(s); (iii) to consider the auditors' comments with respect to the
Trusts' financial policies, procedures and internal accounting controls and,
as appropriate, the controls of the Trusts' custodian, transfer agent and
other service providers, and management's responses thereto; (iv) to review
the form of opinion the auditors propose to render to the Board and
shareholders; and (v) to review with a representative of the Trusts'
management and the independent auditors the financial information contained
in the Trusts' annual report to shareholders under Section 30(e) of the 1940
Act and Rule 30d-1 thereunder prior to its filing; and, with respect to
Allmerica Securities Trust, the Charter will be included as an appendix to
any annual shareholders' meeting proxy statement at least once every three
years, or in the next annual shareholders' meeting proxy statement after any
significant amendment to the Charter;

(c) to consider the effect upon the Trusts of any changes in accounting
principles or practices proposed by management or the auditors and to review
with management, the independent auditors and/or counsel, as appropriate,
the effects of regulatory or accounting initiatives;

(d) to review the fees charged by the auditors for audit and non-audit
services;

(e) to investigate improprieties or suspected improprieties in the
Trusts' operations, and to review with counsel to the Trusts legal matters
that may have a material impact on the financial statements, the Trusts'
compliance policies and any material reports or inquiries received from
regulatory or governmental agencies relating to financial matters;

(f) if applicable, review any analyses prepared by the Trusts' management
and/or independent auditors of significant financial reporting issues and
judgments (including issues relating to the valuation of the Trusts'
portfolio securities) made in connection with the preparation of the Trusts'
financial statements, including any analyses of the effects of alternative
approaches under generally accepted accounting principles on the Trusts'
financial statements;

(g) to meet periodically with the Trusts' management and independent
auditors to review the Trusts' major financial risk exposures and the steps
taken to monitor and control such exposures;

(h) to review the experience and qualifications of the senior members of
the Trusts' audit team and the Trusts' Treasurer and the quality control
procedures of the independent auditor;

(i) to review matters brought to the attention of the Board of Trustees
by the Trusts' investment adviser or sub-adviser(s) or independent auditors
involving the valuation of Trust assets, including fair valuation and
single-source pricing;

(j) to review such other matters or information that the Committee
believes may be relevant to the auditors, the audit engagement or the
Trusts' financial policies and procedures or internal accounting controls,
and to report on the independent auditors' report and the Committees'
activities to the full Board on a regular and timely basis and to make such
recommendations with respect to the above and other matters as the Committee
may deem necessary or appropriate; and

(k) to perform other oversight functions and conduct other reviews not
referenced in this Charter as requested from time to time by the Board.

5. The Audit Committee shall meet on a regular basis as determined
necessary or appropriate by the Board of Trustees, but in no event less than
twice per year, and is empowered to hold special meetings as circumstances
require.

6. The Audit Committee shall maintain minutes of its meetings to be kept
with the records of the Trusts.

7. The Audit Committee shall meet on a periodic basis with the Treasurer of
the Trusts and other members of management, or at such other times as the
Committee deems necessary or appropriate.

8. The Audit Committee shall have the resources and authority appropriate
to discharge its responsibilities, including the authority to retain special
counsel, accounting and other experts or consultants at the expense of the
Trusts. The Committee may request any officer or employee of the Trusts or of
any of the Trusts' service providers or the Trusts' outside counsel or
independent auditors to attend a meeting of the Committee or to meet with any
member of, or consultants to, the Committee.

9. The Audit Committee shall review and re-assess the adequacy of this
Charter at least annually and recommend any changes to the full Board of
Trustees.

Originally Adopted: October 28, 1988
Amended: August 6, 2002

ALLMERICA SECURITIES TRUST
PROXY
This Proxy is solicited on behalf of the Board of Trustees

The undersigned hereby appoints John P. Kavanaugh, Paul T. Kane and
George M. Boyd, and each of them, attorneys and proxies of the undersigned,
with full power of substitution, and does hereby request that the votes
attributable to all of the undersigned's shares be cast as directed, with
all powers the undersigned would possess if personally present, at the
Annual Meeting of Shareholders of Allmerica Securities Trust to be held at
440 Lincoln Street, Worcester, Massachusetts 01653, on Wednesday, April 16,
2003 at 9:00 a.m., local time, and at any adjournment thereof.

This Proxy when properly executed will be voted in the manner directed
by the Shareholder. If no direction is made, the Proxy will be voted "FOR"
all proposals. A proxy marked in such manner as not to withhold authority to
vote for the election of any nominee shall be deemed to grant such
authority.

Votes must be indicated
(x) in Black or Blue ink. [x]

1. ELECTION OF TRUSTEES FOR all nominees [_] WITHHOLD AUTHORITY to vote [_] *EXCEPTIONS [_]
listed below. for all nominees listed below.

Nominees: P. Kevin Condron, Jocelyn S. Davis, Cynthia A. Hargadon, T.
Britton Harris, IV, Gordon Holmes, Mark A. Hug, John P. Kavanaugh, Attiat
F. Ott, and Ranne P. Warner.

(INSTRUCTIONS: To withhold authority to vote for any individual nominee,
mark the "Exceptions" box and write that nominee's name in the space
provided below.)

*Exceptions_________________________________________________________

2. In their discretion, the named proxies are authorized to vote upon such
other business as may properly come before the Meeting, or any adjournment
thereof.

Please sign exactly as the name
appears hereon. When signing as
executor, administrator,
attorney, trustee or guardian,
please give full title. If a
corporation, please sign in full
corporate name by president or
other authorized officer. If a
partnership, please sign in
partnership name by authorized
person. If joint owners, each
owner should sign. Note: the
undersigned hereby acknowledges
receipt of the Notice of Meeting
and Proxy Statement and revokes
any proxy heretofore given with
respect to the votes covered by
this proxy.

Dated:________________, 2003

Signature

Signature if held jointly

Sign, Date and Return the Proxy Card Promptly Using the Enclosed
Envelope.

[Letterhead]

March 7, 2003

Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Attention: Office of Filings, Information and Consumer Services

Re: Allmerica Securities Trust (the "Trust")
Definitive Proxy Materials
[File Nos. 2-46558; 811-2338, CIK #93730]

Dear Sir/Madam:

Pursuant to Rule 14a-6(b) under the Securities Exchange Act of 1934, as amended
(the "1934 Act"), please find for filing via EDGAR on behalf of the Trust one
copy of the Notice of Meeting, Proxy Statement, Form of Proxy and shareholder
letter in connection with the Trust's Annual Meeting of Shareholders to be held
on April 16, 2003. Included is a completed Schedule 14A Information Sheet. No
filing fee is submitted as we understand that no filing fee is required for this
type of filing based on Rule 14a-6(i) of the 1934 Act.

In accordance with Rule 14a-6(a) of the 1934 Act, preliminary proxy materials
have not been filed because the solicitation relates to an annual meeting for an
investment company registered under the Investment Company Act of 1940, as
amended, at which the only matter to be acted upon is the election of Trustees.
As required by Rule 14a-6(b) of the 1934 Act, copies of the proxy materials are
also being filed with the New York Stock Exchange, where the Trust's shares are
listed.

If you have any questions concerning this filing, please contact me at (508)
855-4013. Please return an electronic transmittal as evidence of your receipt of
this filing.

Sincerely,

/s/ George M. Boyd
George M. Boyd, Esq.
Trust Secretary

Enclosures
cc: Paul T. Kane
John P. Kavanaugh
Gregory D. Sheehan, Esq.