File Nos. 333-03093 and 811-07615
Rule 497(e)
RYDEX ADVISOR VARIABLE ANNUITY ACCOUNT
of Great American Reserve Insurance Company
Supplement dated January 15, 1998
to Prospectus dated November 1, 1996
as Supplemented January 15, 1998
For California Residents Only
The assets in the Separate Account will be managed pursuant to a tactical asset
allocation or market timing investment strategy employed by a registered
investment advisor and, therefore, assets may be transferred frequently to take
advantage of anticipated market conditions, which will likely result in
significant portfolio turnover. Both portfolio turnover and market timing may
subject you to additional investment risks not associated with a buy-and-hold
investment strategy.
It, therefore, is suggested that this Contract should be part of your larger
investment plan and not a stand-alone funding vehicle for your retirement
assets. Accordingly, please consult with your financial advisor to determine the
appropriateness of this Contract within your total financial plan.
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