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The Chairman Combination Fixed and Variable Annuity
Supplement dated August 7, 1997
to Prospectus dated April 30, 1997
PLEASE RETAIN THIS SUPPLEMENT FOR REFERENCE.
A Contract offered by this Prospectus and sold to a resident of South Dakota may
be returned for cancellation to American Franklin at its Administrative Office,
or to the agent through whom the Contract was purchased, within ten days after
delivery. If a Contract is cancelled during this period, American Franklin will
refund the Account Value plus any premium taxes and Annual Contract Fee that
have been deducted.
