Rule 497(e)
File Nos. 333-01153
333-01173
The Schwab Variable Annuity
Issued by
Great-West Life & Annuity Insurance Company
November 12, 1996
Insert on page 6 of the prospectus:
Under the heading The Contract. please insert the following:
The Contract currently allows you to invest in your choice of
twenty-one different Investment Divisions offered by eleven
different mutual fund investment advisers. However, not every
Investment Division is available in all jurisdictions. You can
also invest in the Guarantee Period Fund. Your Annuity Account
Value will vary with the investment performance of the Investment
Division you select. You bear the entire investment risk for all
amounts invested in the Investment Division(s). Your Annuity
Account Value could be less than the total amount of your
Contributions.
Insert on page 15 of the prospectus:
Under the heading Strong Discovery Fund II, Inc. and after the
paragraph describing the investment objectives of the fund, please
insert the following:
The Strong Discovery Fund II Investment Division is not currently
an available investment option in the State of California.
