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The Chairman Combination Fixed and Variable Annuity
Supplement dated November 3, 1997
to Prospectus dated April 30, 1997
PLEASE RETAIN THIS SUPPLEMENT FOR REFERENCE
For any Contract offered by this Prospectus and sold to a resident of South
Carolina, the Annual Contract Fee will be allocated among the Divisions in
proportion to the Owner's Account Value in each. If at the time an Annual
Contract Fee is to be deducted, the Owner's Variable Account Value is less than
the Annual Contract Fee, the Annual Contract Fee will be waived for that
deduction.