<PAGE> 1
NOVEMBER 25, 1997 SUPPLEMENT TO
PROSPECTUSES DATED MAY 1, 1997
GOLD TRACK SELECT (NEW YORK ONLY)
The following information supplements the Prospectus for The Travelers Fund QP
for Variable Annuities. Keep this supplement with the Gold Track Select
Prospectus for future reference.
Effective November 25, 1997, additional funding options will be available under
the Gold Track Select Contract in the state of New York. They are listed below,
along with their investment objectives and investment advisers. For additional
information regarding each funding option, please refer to the applicable
prospectus which must accompany the Gold Track Select prospectus.
<TABLE>
<CAPTION>
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FUNDING OPTION INVESTMENT OBJECTIVE INVESTMENT ADVISER
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<S> <C> <C>
Dreyfus Stock Index Fund, Inc. Seeks investment results that Mellon Equity Associates
correspond to the price and yield
performance of publicly traded common
stocks in the aggregate
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Templeton Variable Products Series
Fund:
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Templeton Bond Fund* Seeks high current income Templeton Global Bond
Managers
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Templeton Stock Fund* Seeks capital growth Templeton Investment
Counsel, Inc.
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Templeton Asset Allocation Fund** Seeks high level of total return with Templeton Investment
reduced risk over the long term Counsel, Inc.
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Variable Insurance Products Fund:
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Fidelity's VIP High Income Seeks high level of current income by Fidelity Management &
Portfolio* investing primarily in high-yielding Research Company
(i.e., high risk), lower-rated,
fixed-income securities, while also
considering growth of capital
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Fidelity's VIP Equity-Income Seeks reasonable income by investing Fidelity Management &
Portfolio primarily in income-producing equity Research Company
securities
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Fidelity's VIP Growth Portfolio Seeks capital appreciation Fidelity Management &
Research Company
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Variable Insurance Products Fund II:
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Fidelity's VIP II Asset Manager Seeks high total return with reduced Fidelity Management &
Portfolio** risk over the long run. Research Company
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</TABLE>
The Funding Options marked with an asterisk (*) are considered Competing Funds,
and may be subject to transfer restrictions. Those marked with two asterisks
(**) are not currently considered Competing Funds, but may be so in the future
because of an allowable change in the Funding Option's investment strategy.
Please refer to the contract for transfer restrictions.
<PAGE> 2
Fee Table Information
(based on information as of 12/31/96):
<TABLE>
<CAPTION>
Total Underlying
Management Fee Other Expenses Fund Expenses
-------------- -------------- ---------------
<S> <C> <C> <C>
Dreyfus Stock Index Fund, Inc. 0.25% 0.05% 0.30%
Templeton Bond Fund 0.50% 0.18% 0.68%
Templeton Stock Fund 0.70% 0.18%(1) 0.88%
Templeton Asset Allocation Fund 0.61% 0.17%(1) 0.78%
Fidelity VIP High Income Portfolio 0.59% 0.12%(2) 0.71%
Fidelity VIP Equity-Income Portfolio 0.51% 0.05%(2) 0.56%
Fidelity VIP Growth Portfolio 0.61% 0.06%(2) 0.67%
Fidelity VIP II Asset Manager Portfolio 0.64% 0.09%(2) 0.73%
</TABLE>
(1) Management Fees and Total Underlying Fund Expenses have been restated to
reflect the management fee schedule that was approved by shareholders and which
takes effect on May 1, 1997 Actual Management Fees and Total Underlying Fund
Expenses before May 1, 1997 were lower.
(2) A portion of the brokerage commissions that certain funds pay was used to
reduce the fund's expenses. In addition, certain funds have entered into
arrangements with their custodian and transfer agent whereby interest earned on
uninvested cash balances was used to reduce custodian and transfer agent
expenses. Without these reductions, Total Underlying Fund Expenses presented in
this table would have been 0.58% for Equity-Income Portfolio, 0.69% for Growth
Portfolio and 0.74% for Asset Manager Portfolio.
THE EXAMPLE SHOULD NOT BE CONSIDERED A REPRESENTATION OF PAST OR FUTURE
EXPENSES. ACTUAL EXPENSES MAY BE GREATER OR LESS THAN THOSE SHOWN.
Assuming a 5% annual return on assets, a $1,000 investment would be subject to
the following expenses:
<TABLE>
<CAPTION>
If the Contract/Certificate is If the Contract/Certificate is NOT
surrendered at the end of the surrendered at the end of the
period shown*: period shown:
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One Three Five Ten One Three Five Ten
Year Years Years Years Year Years Years Years
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Dreyfus Stock Index Fund, Inc. $68 $ 95 $123 $190 $16 $51 $ 87 $190
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Templeton Bond Fund 72 106 142 231 20 62 107 231
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Templeton Stock Fund 74 112 151 251 22 68 117 251
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Templeton Asset Allocation Fund 73 109 147 241 21 65 112 241
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Fidelity VIP High Income Portfolio 72 107 143 234 20 63 108 234
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Fidelity VIP Equity-Income Portfolio 70 102 136 218 19 58 101 218
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Fidelity VIP Growth Portfolio 72 106 141 230 20 62 106 230
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Fidelity VIP II Asset Manager 72 107 144 236 21 64 109 236
Portfolio
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</TABLE>
*The applicable surrender charge may be waived upon annuitization. (See
"Charges Under the Contract" in the prospectus.)
L-21247 11/97
