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SUPPLEMENT TO NEW YORK SPINNAKER PROSPECTUS
SUPPLEMENT DATED APRIL 30, 1999
TO PROSPECTUS DATED JUNE 16, 1997
THE DISCLOSURE SET FORTH BELOW REPLACES AND UPDATES THE INFORMATION
UNDER THE HEADING "EXPENSE TABLE" FOUND IN THE PROSPECTUS AND ANY
PRIOR SUPPLEMENTS.
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FIRST SAFECO SEPARATE ACCOUNT S EXPENSE TABLE
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OWNER TRANSACTION EXPENSES (See Note 2)
Contingent Deferred Sales Charge (as a percentage of the amount withdrawn)
No charge for first 10% of contract value withdrawn in a contract year. Thereafter, the charge is:
year 1.........8% year 4..........5% year 7..........2%
year 2.........7% year 5..........4% year 8..........1%
year 3.........6% year 6..........3% year 9+.........0%
Withdrawal Charge
No charge for first withdrawal in a contract year; thereafter, the charge is $25 per withdrawal or, if less, 2% of
the amount of the withdrawal.
Transfer Charge
No charge for first 12 transfers in a contract year; thereafter, the charge is $10 per transfer or, if less, 2% of
the amount transferred.
ANNUAL ADMINISTRATION MAINTENANCE CHARGE
$30 per contract per contract year.
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SEPARATE ACCOUNT ANNUAL EXPENSES Mortality and Expense Risk Charge..................... 1.25%
(as a percentage of average account value)
Asset Related Administration Charge................... .15%
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Total Separate Account Annual Expenses................ 1.40%
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PORTFOLIO EXPENSES Management Other Total Annual
(as a percentage of average net assets) Fees Expenses Portfolio Expenses
(after reimbursement and waiver for certain Portfolios)
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MANAGED BY SAFECO ASSET MANAGEMENT COMPANY (a)
RST Equity Portfolio .74% .04% .78%
RST Growth Portfolio .74% .06% .80%
RST Northwest Portfolio .74% .22% .96%
RST Bond Portfolio .74% .09% .83%
RST Money Market Portfolio .65% .16% .81%
RST Small Company Stock Portfolio .85% .10% .95%
MANAGED BY FEDERATED ADVISERS (a)
Federated High Income Bond Fund II .60% .18% .78%
Federated International Equity Fund II .53% .72% 1.25%
Federated Utility Fund II .68% .25% .93%
MANAGED BY LEXINGTON MANAGEMENT CORPORATION (a)
Lexington Emerging Markets Fund, Inc. .85% 1.23% 2.08%
Lexington Natural Resources Trust 1.00% .29% 1.29%
MANAGED BY AMERICAN CENTURY INVESTMENT MANAGEMENT, INC. (a)
VP Balanced (b) 0.90% 0.00% 0.90%
VP International (b) 1.50% 0.00% 1.50%
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(a) In some cases the fund advisers agree to waive or reimburse all or a portion of the portfolio expenses. For those
portfolios where such an agreement exists, the expenses absent waiver or reimbursement would have been .99% for the
RST Northwest Portfolio; .98% for the RST Bond Portfolio; .89% for the RST Money Market Portfolio; 1.18% for the RST
Small Company Stock Portfolio; 1.72% for the Federated International Equity Fund II and 1.00% for the Federated
Utility Fund II. In addition, we have Fund Participation Agreements with each of the non-SAFECO fund managers that
describe the administrative practices and responsibilities of the parties.
(b) These portfolios charge their management fees based on assets in the portfolio. The highest fees are shown in this
Expense Table. See the portfolio prospectuses for more detailed information.
The above portfolio expenses were provided by the portfolios. We have not
independently verified the accuracy of the information.
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EXAMPLES
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You would pay the following expenses on a $1,000 investment, assuming a 5% annual return on assets:
(a) upon surrender at the end of each time period;
(b) if the contract is not surrendered or is annuitized.
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1 year 3 years 5 years 10 years
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MANAGED BY SAFECO ASSET MANAGEMENT COMPANY
RST Equity Portfolio (a)$ 97 (a)$ 128 (a)$ 161 (a)$ 257
(b)$ 23 (b)$ 70 (b)$ 120 (b)$ 257
RST Growth Portfolio (a)$ 97 (a)$ 129 (a)$ 162 (a)$ 259
(b)$ 23 (b)$ 70 (b)$ 121 (b)$ 259
RST Northwest Portfolio (a)$ 98 (a)$ 133 (a)$ 170 (a)$ 275
(b)$ 24 (b)$ 75 (b)$ 129 (b)$ 275
RST Bond Portfolio (a)$ 97 (a)$ 130 (a)$ 163 (a)$ 262
(b)$ 23 (b)$ 71 (b)$ 122 (b)$ 262
RST Money Market Portfolio (a)$ 97 (a)$ 129 (a)$ 162 (a)$ 260
(b)$ 23 (b)$ 71 (b)$ 121 (b)$ 260
RST Small Company Stock Portfolio (a)$ 98 (a)$ 133 (a)$ 169 (a)$ 274
(b)$ 24 (b)$ 75 (b)$ 128 (b)$ 274
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MANAGED BY FEDERATED ADVISERS
Federated High Income Bond Fund II (a)$ 97 (a)$ 128 (a)$ 161 (a)$ 257
(b)$ 23 (b)$ 70 (b)$ 120 (b)$ 257
Federated International Equity Fund II (a)$ 101 (a)$ 142 (a)$ 183 (a)$ 303
(b)$ 27 (b)$ 84 (b)$ 143 (b)$ 303
Federated Utility Fund II (a)$ 98 (a)$ 133 (a)$ 168 (a)$ 272
(b)$ 24 (b)$ 74 (b)$ 127 (b)$ 272
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MANAGED BY LEXINGTON MANAGEMENT CORPORATION
Lexington Emerging Markets Fund, Inc. (a)$ 109 (a)$ 165 (a)$ 222 (a)$ 380
(b)$ 36 (b)$ 108 (b)$ 183 (b)$ 380
Lexington Natural Resources Trust (a)$ 101 (a)$ 143 (a)$ 185 (a)$ 307
(b)$ 28 (b)$ 85 (b)$ 145 (b)$ 307
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MANAGED BY AMERICAN CENTURY INVESTMENT MANAGEMENT, INC.
VP Balanced (a)$ 98 (a)$ 132 (a)$ 167 (a)$ 269
(b)$ 24 (b)$ 73 (b)$ 126 (b)$ 269
VP International (a)$ 103 (a)$ 149 (a)$ 195 (a)$ 327
(b)$ 30 (b)$ 91 (b)$ 155 (b)$ 327
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EXPLANATION OF EXPENSE TABLE AND EXAMPLES
1. The purpose of the Expense Table is to show the various expenses you will
incur directly and indirectly by investing in the contract. The Expense
Table reflects expenses of the Separate Account as well as the portfolios.
2. There are situations where all or some of the owner transaction expenses do
not apply. See "Charges and Deductions" for a complete discussion.
3. The examples do not reflect premium taxes that may apply.
4. The examples should not be considered a representation of past or future
expenses. Actual expenses may be greater or less than those shown.
YEAR 2000
Like other insurance, mutual fund, financial and business organizations, and
individuals around the world, First SAFECO and the Separate Account could be
adversely affected if the computer systems used by First SAFECO, its principal
underwriter, underlying mutual fund managers and investment advisers, or other
companies that provide services to the Separate Account do not properly process
and calculate date related information from and after January 1, 2000. This is
commonly called the "Year 2000 problem." First SAFECO is taking steps it
believes are reasonably designed to address the Year 2000 problem with respect
to the computer systems that each of them uses and to obtain satisfactory
assurances that comparable steps are being taken by each of First SAFECO's
other, major service providers. It is not anticipated that the Separate Account
will incur any charges or that there will be any difficulties in accurate and
timely reporting resulting from the change in year from 1999 to 2000. However,
with approximately 90% of its systems year 2000 ready, First SAFECO is currently
developing business continuity plans for year 2000 contingencies.
