<PAGE> 1
May 1, 1999 SUPPLEMENT TO
PROSPECTUSES DATED MAY 1, 1999
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.
Additional funding options are 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>
- --------------------------------------------------------------------------------------------------------------
INVESTMENT OPTIONS INVESTMENT OBJECTIVE INVESTMENT ADVISER
- --------------------------------------------------------------------------------------------------------------
<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
- --------------------------------------------------------------------------------------------------------------
Templeton Variable Products Series
Fund:
- --------------------------------------------------------------------------------------------------------------
Templeton Bond Fund* Seeks high current income Templeton Global Bond
Managers
- --------------------------------------------------------------------------------------------------------------
Templeton Stock Fund* Seeks capital growth Templeton Investment
Counsel, Inc.
- --------------------------------------------------------------------------------------------------------------
Templeton Asset Allocation Fund** Seeks high level of total return with Templeton Investment
reduced risk over the long term Counsel, Inc.
- --------------------------------------------------------------------------------------------------------------
Variable Insurance Products Fund:
- --------------------------------------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------------------------------------
Fidelity's VIP Equity-Income Seeks reasonable income by investing Fidelity Management &
Portfolio primarily in income-producing equity Research Company
securities
- --------------------------------------------------------------------------------------------------------------
Fidelity's VIP Growth Portfolio Seeks capital appreciation Fidelity Management &
Research Company
- --------------------------------------------------------------------------------------------------------------
Variable Insurance Products Fund II:
- --------------------------------------------------------------------------------------------------------------
Fidelity's VIP II Asset Manager Seeks high total return with reduced Fidelity Management &
Portfolio** risk over the long run. Research Company
- --------------------------------------------------------------------------------------------------------------
</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 12/31/98):
<TABLE>
<CAPTION>
Total Annual
Management Fee Other Expenses Operating Expenses
-------------- -------------- ------------------
<S> <C> <C> <C>
Dreyfus Stock Index Fund, Inc. 0.25% 0.01% 0.26%
Templeton Bond Fund 0.50% 0.23% 0.73%
Templeton Stock Fund 0.70% 0.19% 0.89%
Templeton Asset Allocation Fund 0.60% 0.18% 0.78%
Fidelity VIP High Income Portfolio 0.58% 0.12% 0.70%
Fidelity VIP Equity-Income Portfolio 0.49% 0.08%(1) 0.57%
Fidelity VIP Growth Portfolio 0.59% 0.07%(1) 0.66%
Fidelity VIP II Asset Manager Portfolio 0.54% 0.09%(1) 0.63%
</TABLE>
(1) 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, 0.68% for Growth
Portfolio and 0.64% 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:
- ------------------------------------------------------------------------------------------------------------------
One Three Five Ten One Three Five Ten
Year Years Years Years Year Years Years Years
- ------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Dreyfus Stock Index Fund, Inc. $68 $ 94 $122 $188 $16 $49 $ 85 $186
- ------------------------------------------------------------------------------------------------------------------
Templeton Bond Fund 72 107 144 236 21 64 109 236
- ------------------------------------------------------------------------------------------------------------------
Templeton Stock Fund 74 112 152 252 22 69 117 252
- ------------------------------------------------------------------------------------------------------------------
Templeton Asset Allocation Fund 73 109 147 241 21 65 112 241
- ------------------------------------------------------------------------------------------------------------------
Fidelity VIP High Income Portfolio 72 106 143 233 20 63 108 233
- ------------------------------------------------------------------------------------------------------------------
Fidelity VIP Equity-Income Portfolio 71 103 136 219 19 59 101 219
- ------------------------------------------------------------------------------------------------------------------
Fidelity VIP Growth Portfolio 71 105 141 229 20 62 106 229
- ------------------------------------------------------------------------------------------------------------------
Fidelity VIP II Asset Manager 71 104 139 225 20 61 104 225
Portfolio
- ------------------------------------------------------------------------------------------------------------------
</TABLE>
*The applicable surrender charge may be waived upon annuitization. (See
"Charges Under the Contract" in the prospectus.)
L-21247-99
