VARIABLE ANNUITY 1 SERIES ACCOUNT
N-30D, 1997-09-09
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                                    GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
                                              8515 East Orchard Road
                                            Englewood, Colorado  80111





September 8, 1997



Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C.

Re:      Variable Annuity-1 Series Account
         Semi-Annual Report Form N-30D
         File No. 811-

The semi-annual  report on Form N-30D for the Variable Annuity-1 Series Account,
File Number 811- for the period ending June 30, 1997 is transmitted herewith.

If you should have any questions regarding the foregoing, please do
not hesitate to contact me at (800) 537-2033, ext. 3817.

Sincerely,

/s/ Beverly A. Byrne

Beverly A. Byrne
Assistant Vice President
and Associate Counsel


<PAGE>



                                    GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
                                         Variable AnnuitY-1 Series Account
                                           Semi-Annual Report Form N-30D
                                                   File No. 811-

The  information  required to be contained in this report for the period  ending
June 30, 1997, is  incorporated by reference to the following  previously  filed
semi-annual reports for the underlying funds of the above-referenced Registrant:

         Lexington Emerging Markets Fund, Inc.
         File No. 811-08250
         Form N-30D
         Filed via EDGAR and accepted on August 25, 1997
         Accession No. 0000207736-97-000035

         Janus Aspen Series
         File No. 811-07736
         Form N-30D
         Filed via EDGAR and accepted on August 22, 1997
         Accession No. 0001012709-97-000120

         Berger IPT-Small Company Growth Fund
         File No. 811-07367
         Form N-30D
         Filed via EDGAR and accepted on August 29, 1997
         Accession No. 0001002109-97-000005

         Federated Insurance Series
         File No. 811-08042
         Form N-30D
         Filed via EDGAR and accepted on August 21, 1997
         Accession No. 0000912577-97-000013

         Van Eck Worldwide Insurance Trust
         File No. 811-04297
         Form N-30D
         Filed via EDGAR and accepted on August 22, 1997
         Accession No. 0000950123-97-007203

         American Century Variable Portfolios, Inc.
         File No. 811-05188
         Form N-30D
         Filed via EDGAR and accepted on August 14, 1997
         Accession No. 0000814680-97-000009

         SAFECO Resource Series Trust
         File No. 811-04717
         Form N-30D
         Filed via EDGAR and accepted on August 21, 1997
         Accession No. 0000898430-97-003616

         Stein Roe Variable Investment Trust
         File No. 811-05199
         Form N-30D
         Filed via EDGAR and accepted on August 28, 1997
         Accession No. 0000773757-97-000014

         Schwab Annuity Portfolios
         File No. 811-08314
         Form N-30D
         Filed via EDGAR and accepted on September 3, 1997
         Accession No. 0000927356-97-001053

         Alger American Fund
         File No. 811-05550
         Form N-30D
         Filed via EDGAR and accepted on September 3, 1997
         Accession No. 0000930413-97-000507

         Strong Variable Insurance Funds, Inc.
         File No. 811-06553
         Form N-30D
         Filed via EDGAR and accepted on September 3, 1997
         Accession No. 0000883644-97-000041

         Montgomery Variable Series: Growth Fund
         File No. 811-08782
         Form N-30D
         Filed via EDGAR and accepted on September 4, 1997
         Accession No. 0000929624-97-001053

         Montgomery Variable Series: International Small Cap Fund
         File No. 811-08782
         Form N-30D
         Filed via EDGAR and accepted on September 4, 1997
         Accession No. 0000929624-97-001052

         INVESCO Variable Investment Funds, Inc.
         File No. 811-08038
         Form N-30D
         Filed via EDGAR and accepted on August 27, 1997
         Accession No. 0000912744-97-000023



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