SUPPLEMENT DATED JANUARY 4, 2001
TO THE PROSPECTUS FOR
Variable Annuity-1 Series Account, dated May 1, 2000
The following paragraph is added to the section "Great-West Life & Annuity
Insurance Company" of the prospectus for the Variable Annuity-1 Series Account:
Effective December 31, 2000, a corporate reorganization of Great-West Life &
Annuity Insurance Company ("GWL&A") was completed. Under the new structure,
GWL&A is no longer a subsidiary of The Great-West Life Assurance Company but
continues to be indirectly owned by Great-West Lifeco Inc., a holding company.
Great-West Lifeco Inc. is in turn a subsidiary of Power Financial Corporation, a
financial services company. Power Corporation of Canada, a holding and
management company, has voting control of Power Financial Corporation. Mr. Paul
Desmarais, through a group of private holding companies, which he controls, has
voting control of Power Corporation of Canada.
Please keep this supplement for future
reference.
