As filed with the Securities and Exchange Registration No. 333-56297
Commission on December 14, 1998 Registration No. 811-2512
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-4
POST-EFFECTIVE AMENDMENT NO. 2 TO
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
and Amendment to
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
Variable Annuity Account B of Aetna Life Insurance and Annuity Company
Aetna Life Insurance and Annuity Company
151 Farmington Avenue, RE4A, Hartford, Connecticut 06156
Depositor's Telephone Number, including Area Code: (860) 273-4686
Julie E. Rockmore, Counsel
Aetna Life Insurance and Annuity Company
151 Farmington Avenue, RE4A, Hartford, Connecticut 06156
(Name and Address of Agent for Service)
It is proposed that this filing will become effective:
[X] immediately upon filing pursuant to paragraph (b) of Rule 485
[ ] on _______________________ pursuant to paragraph (b) of Rule 485
<PAGE>
VARIABLE ANNUITY ACCOUNT B
CROSS REFERENCE SHEET
<TABLE>
<CAPTION>
LOCATION - PROSPECTUS
DATED AUGUST 19, 1998, AND AS
AMENDED BY SUPPLMENTS
FORM N-4 DATED OCTOBER 1, 1998 AND
ITEM NO. PART A (PROSPECTUS) DECEMBER 14, 1998
<S> <C> <C>
1 Cover Page........................................... Cover Page
2 Definitions.......................................... Definitions
3 Synopsis............................................. Prospectus Summary; Fee Table, and as amended
4 Condensed Financial Information...................... Condensed Financial Information
5 General Description of Registrant, Depositor, and
Portfolio Companies.................................. The Company; Variable Annuity Account B; The
Funds, and as amended
6 Deductions and Expenses.............................. Charges and Deductions, and as amended
7 General Description of Variable Annuity Contracts....
Purchase; Miscellaneous
8 Annuity Period....................................... Annuity Period, and as amended
9 Death Benefit........................................ Death Benefit During Accumulation Period; Death
Benefit Payable During Annuity Period
10 Purchases and Contract Value......................... Purchase; Contract Valuation
11 Redemptions.......................................... Right to Cancel; Withdrawals
12 Taxes................................................ Tax Status
13 Legal Proceedings.................................... Miscellaneous - Legal Matters and Proceedings
14 Table of Contents of the Statement of Additional
Information.......................................... Contents of the Statement of Additional
Information
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
LOCATION - STATEMENT OF
FORM N-4 PART B (STATEMENT OF ADDITIONAL INFORMATION
ITEM NO. ADDITIONAL INFORMATION) DATED AUGUST 19, 1998
<S> <C> <C>
15 Cover Page........................................... Cover page
16 Table of Contents.................................... Table of Contents
17 General Information and History...................... General Information and History
18 Services............................................. General Information and History; Independent
Auditors
19 Purchase of Securities Being Offered................. Offering and Purchase of Contracts
20 Underwriters......................................... Offering and Purchase of Contracts
21 Calculation of Performance Data...................... Performance Data; Average Annual Total Return
Quotations
22 Annuity Payments..................................... Annuity Payments
23 Financial Statements................................. Financial Statements
</TABLE>
Part C (Other Information)
--------------------------
Information required to be included in Part C is set forth under the appropriate
item, so numbered, in Part C to this Registration Statement.
<PAGE>
PARTS A AND B
The Prospectus and Statement of Additional Information are incorporated in Parts
A and B, respectively, of this Post-Effective Amendment No. 2 by reference to
Pre-Effective Amendment No. 1 to the Registration Statement on Form N-4 (File
No. 333-56297), as filed electronically on August 4, 1998 and declared effective
on August 19, 1998 and by reference to Prospectus Supplement dated October 1,
1998 as filed in Post-Effective Amendment No. 1 to the Registration Statement on
Form N-4 (File No. 333-56297), as filed electronically on September 14, 1998 and
declared effective on October 1, 1998.
A Prospectus Supplement dated December 14, 1998 is included in Part A of this
Post-Effective Amendment.
<PAGE>
VARIABLE ANNUITY ACCOUNT B
Aetna Life Insurance and Annuity Company
Supplement Dated December 14, 1998
to the Prospectus dated August 19, 1998
The information in this supplement updates and amends the information contained
in the Prospectus dated August 19, 1998. You should read this Supplement along
with the Prospectus.
The first paragraph under the "The Funds" on page 21 of the Prospectus is
replaced with the following:
Purchase Payments may be allocated to one or more of the Subaccounts as
designated on the Application. In turn, the Subaccounts invest in the
corresponding Funds at net asset value. The Company reserves the right to
limit the number of investment options that can be selected under the
Contract. Currently there is no limit on the number of investment options
that can be selected, but the number of investment options that may be
selected at any one time by a Certificate Holder is limited to 18. Each
Subaccount and each Guaranteed Term of the same duration, or an investment
in the Fixed account in certain Contracts where the Guaranteed Account is
not available, count as an investment option.
The first sentence of the "Guaranteed Account Option" section on page 22 is
replaced with the following:
In certain states, Purchase Payments may be allocated to the Guaranteed
Account.
The paragraph under the "Fixed Account Option" section on page 22 of the
Prospectus is replaced with the following:
In certain states, Purchase Payments may be allocated to the Fixed Account.
Such an allocation may require participation in the Company's Dollar Cost
Averaging Program. Through the Fixed Account we guarantee to pay the
minimum interest rate specified in the Contract. (See Appendix B.)
The "Nursing Home Waiver" section on page 27 of the Prospectus is replaced with
the following:
Nursing Home Waiver. Under Option Packages II and III, you may withdraw all
or a portion of your Purchase Payments without a deferred sales charge,
provided that:
(1) More than one Account Year has elapsed since the Schedule Effective Date;
(2) The withdrawal is requested within three years of the Annuitant's
admission to a licensed Nursing Home facility (in Oregon there is no
three year limitation period and in New Hampshire non-licensed facilities
are included); and
(3) The Annuitant has spent at least 45 consecutive days in such facility.
This waiver of deferred sales charge does not apply if the Annuitant is in a
licensed Nursing Home facility for at least one day during the two week period
immediately preceding or following the Schedule Effective Date. It will also
not apply if otherwise prohibited by state law.
The third and fourth sentences in the "SUBACCOUNT TRANSFERS" section on page 29
of the prospectus are replaced with the following:
Transfers may be made from the Fixed Account to any of the available
investment options, subject to certain restrictions. We reserve the right,
however, to restrict transfers into the Fixed Account from any of the other
investment options.
The following sentence is added to the end of the first paragraph of the
"Reinstatement Privilege Following Withdrawal" section on page 30 of the
Prospectus:
We reserve the right to accept a reinstatement elected more than 30 days
after the withdrawal and to accept the proceeds more than 60 days after the
withdrawal.
The last sentence of the first paragraph of the "Amount of Each Annuity
Payment" section on page 37 of the Prospectus is replaced with the following:
Unless prohibited by law, we reserve the right to increase the minimum
first Annuity Payment amount and the minimum annual Annuity Payment amount
based on increases reflected in the Consumer Price Index-Urban (CPI-U),
since July 1, 1993.
Form No.: X.56297-98-1
<PAGE>
33356297
VARIABLE ANNUITY ACCOUNT B
PART C - OTHER INFORMATION
Item 24. Financial Statements and Exhibits
- ------------------------------------------
(a) Financial Statements:
(1) Incorporated by reference in Part A:
Condensed Financial Information
(2) Incorporated by reference in Part B:
Financial Statements of Variable Annuity Account B:
- Statement of Assets and Liabilities as of December 31, 1997
- Statements of Operations and Changes in Net Assets for the years
ended December 31, 1997 and 1996
- Notes to Financial Statements
- Independent Auditors' Report
Financial Statements of the Depositor:
- Independent Auditors' Report
- Consolidated Statements of Income for the years ended December
31, 1997, 1996 and 1995
- Consolidated Balance Sheets as of December 31, 1997 and 1996
- Consolidated Statements of Changes in Shareholder's Equity for
the years ended December 31, 1997, 1996 and 1995
- Consolidated Statements of Cash Flows for the years ended
December 31, 1997, 1996 and 1995
- Notes to Consolidated Financial Statements
(b) Exhibits
(1) Resolution of the Board of Directors of Aetna Life Insurance and
Annuity Company establishing Variable Annuity Account B(1)
(2) Not applicable
(3.1) Broker-Dealer Agreement(2)
(3.2) Alternative Form of Wholesaling Agreement and Related Selling
Agreement(3)
(4.1) Variable Annuity Contract (GM-VA-98)(2)
(4.2) Variable Annuity Contract Certificate (GMC-VA-98)(2)
(4.3) Endorsement (EVAGET98) to Variable Annuity Contract GM-VA-98 and
Variable Annuity Contract Certificate GMC-VA-98(4)
(5) Variable Annuity Contract Application(9.5.89-6(9/98))(5)
(6.1) Certificate of Incorporation of Aetna Life Insurance and Annuity
Company(6)
(6.2) Amendment of Certificate of Incorporation of Aetna Life Insurance
and Annuity Company(7)
(6.3) By-Laws as amended September 17, 1997 of Aetna Life Insurance and
Annuity Company(8)
(7) Not applicable
<PAGE>
(8.1) Fund Participation Agreement between Aetna Life Insurance and
Annuity Company and AIM dated June 30, 1998(5)
(8.2) Service Agreement between Aetna Life Insurance and Annuity Company
and AIM effective June 30, 1998(5)
(8.3) Fund Participation Agreement by and among Aetna Life Insurance and
Annuity Company and Aetna Variable Fund, Aetna Variable Encore
Fund, Aetna Income Shares, Aetna Balanced VP, Inc., Aetna GET Fund
on behalf of each of its series, Aetna Generation Portfolios, Inc.
on behalf of each of its series, Aetna Variable Portfolios, Inc.
on behalf of each of its series, and Aeltus Investment Management,
Inc. dated as of May 1, 1998(2)
(8.4) Amendment dated November 9, 1998 to Fund Participation Agreement
by and among Aetna Life Insurance and Annuity Company and Aetna
Variable Fund, Aetna Variable Encore Fund, Aetna Income Shares,
Aetna Balanced VP, Inc., Aetna GET Fund on behalf of each of its
series, Aetna Generation Portfolios, Inc. on behalf of each of its
series, Aetna Variable Portfolios, Inc. on behalf of each of its
series, and Aeltus Investment Management, Inc. dated as of May 1,
1998
(8.5) Service Agreement between Aeltus Investment Management, Inc. and
Aetna Life Insurance and Annuity Company in connection with the
sale of shares of Aetna Variable Fund, Aetna Variable Encore Fund,
Aetna Income Shares, Aetna Balanced VP, Inc., Aetna GET Fund on
behalf of each of its series, Aetna Generation Portfolios, Inc. on
behalf of each of its series, and Aetna Variable Portfolios, Inc.
on behalf of each of its series dated as of May 1, 1998(2)
(8.6) Amendment dated November 4, 1998 to Service Agreement between
Aeltus Investment Management, Inc. and Aetna Life Insurance and
Annuity Company in connection with the sale of shares of Aetna
Variable Fund, Aetna Variable Encore Fund, Aetna Income Shares,
Aetna Balanced VP, Inc., Aetna GET Fund on behalf of each of its
series, Aetna Generation Portfolios, Inc. on behalf of each of its
series and Aetna Variable Portfolios, Inc. on behalf of each of
its series dated as of May 1, 1998
(8.7) Fund Participation Agreement between Aetna Life Insurance and
Annuity Company, Variable Insurance Products Fund and Fidelity
Distributors Corporation dated February 1, 1994 and amended on
December 15, 1994, February 1, 1995, May 1, 1995, January 1, 1996
and March 1, 1996(7)
(8.8) Fifth Amendment dated as of May 1, 1997 to the Fund Participation
Agreement between Aetna Life Insurance and Annuity Company,
Variable Insurance Products Fund and Fidelity Distributors
Corporation dated February 1, 1994 and amended on December 15,
1994, February 1, 1995, May 1, 1995, January 1, 1996 and March 1,
1996(9)
<PAGE>
(8.9) Sixth Amendment dated November 6, 1997 to the Fund Participation
Agreement between Aetna Life Insurance and Annuity Company,
Variable Insurance Products Fund and Fidelity Distributors
Corporation dated February 1, 1994 and amended on December 15,
1994, February 1, 1995, May 1, 1995, January 1, 1996, March 1,
1996 and May 1, 1997(10)
(8.10) Seventh Amendment dated as of May 1, 1998 to the Fund
Participation Agreement between Aetna Life Insurance and Annuity
Company, Variable Insurance Products Fund and Fidelity
Distributors Corporation dated February 1, 1994 and amended on
December 15, 1994, February 1, 1995, May 1, 1995, January 1, 1996,
March 1, 1996, May 1, 1997 and November 6, 1997(2)
(8.11) Fund Participation Agreement between Aetna Life Insurance and
Annuity Company, Variable Insurance Products Fund II and Fidelity
Distributors Corporation dated February 1, 1994 and amended on
December 15, 1994, February 1, 1995, May 1, 1995, January 1, 1996
and March 1, 1996(7)
(8.12) Fifth Amendment, dated as of May 1, 1997, to the Fund
Participation Agreement between Aetna Life Insurance and Annuity
Company, Variable Insurance Products Fund II and Fidelity
Distributors Corporation dated February 1, 1994 and amended on
December 15, 1994, February 1, 1995, May 1, 1995, January 1, 1996
and March 1, 1996(9)
(8.13) Sixth Amendment dated as of January 20, 1998 to the Fund
Participation Agreement between Aetna Life Insurance and Annuity
Company, Variable Insurance Products Fund II and Fidelity
Distributors Corporation dated February 1, 1994 and amended on
December 15, 1994, February 1, 1995, May 1, 1995, January 1, 1996,
March 1, 1996 and May 1, 1997(11)
(8.14) Seventh Amendment dated as of May 1, 1998 to the Fund
Participation Agreement between Aetna Life Insurance and Annuity
Company, Variable Insurance Products Fund II and Fidelity
Distributors Corporation dated February 1, 1994 and amended on
December 15, 1994, February 1, 1995, May 1, 1995, January 1, 1996,
March 1, 1996, May 1, 1997 and January 20, 1998(2)
(8.15) Service Agreement between Aetna Life Insurance and Annuity Company
and Fidelity Investments Institutional Operations Company dated as
of November 1, 1995(12)
(8.16) Amendment dated January 1, 1997 to Service Agreement between Aetna
Life Insurance and Annuity Company and Fidelity Investments
Institutional Operations Company dated as of November 1, 1995(9)
(8.17) Service Contract between Fidelity Distributors Corporation and
Aetna Life Insurance and Annuity Company dated May 2, 1997
(8.18) Fund Participation Agreement among Janus Aspen Series and Aetna
Life Insurance and Annuity Company and Janus Capital Corporation
dated December 8, 1997(13)
(8.19) Amendment dated October 12, 1998 to Fund Participation Agreement
among Janus Aspen Series and Aetna Life Insurance and Annuity
Company and Janus Capital Corporation dated December 8, 1997
<PAGE>
(8.20) Service Agreement between Janus Capital Corporation and Aetna Life
Insurance and Annuity Company dated December 8, 1997(13)
(8.21) Fund Participation Agreement among MFS Variable Insurance Trust,
Aetna Life Insurance and Annuity Company and Massachusetts
Financial Services Company dated April 30, 1996, and amended on
September 3, 1996, March 14, 1997 and November 28, 1997(2)
(8.22) Fourth Amendment dated May 1, 1998 to the Fund Participation
Agreement by and among MSF Variable Insurance Trust, Aetna Life
Insurance and Annuity Company and Massachusetts Financial Services
Company dated April 30, 1996, and amended on September 3, 1996,
March 14, 1997 and November 28, 1997(5)
(8.23) Form of Fifth Amendment to Fund Participation Agreement by and
among MSF Variable Insurance Trust, Aetna Life Insurance and
Annuity Company and Massachusetts Financial Services Company dated
April 30, 1996, and amended on September 3, 1996, March 14, 1997
and November 28, 1997
(8.24) Fund Participation Agreement dated March 11, 1997 between Aetna
Life Insurance and Annuity Company and Oppenheimer Variable
Annuity Account Funds and Oppenheimer Funds, Inc.(14)
(8.25) Service Agreement effective as of March 11, 1997 between
Oppenheimer Funds, Inc. and Aetna Life Insurance and Annuity
Company(14)
(9) Opinion and Consent of Counsel
(10) Consent of Independent Auditors
(11) Not applicable
(12) Not applicable
(13) Schedule for Computation of Performance Data(5)
(14) Not applicable
(15.1) Powers of Attorney(5)
(15.2) Authorization for Signatures(3)
1. Incorporated by reference to Post-Effective Amendment No. 6 to Registration
Statement on Form N-4 (File No. 33-75986), as filed electronically on April
22, 1996 (Accession No. 0000950146-96-000563).
2. Incorporated by reference to Registration Statement on Form N-4 (File No.
333-56297), as filed electronically on June 8, 1998 (Accession No.
0000950146-98-000983).
3. Incorporated by reference to Post-Effective Amendment No. 5 to Registration
Statement on Form N-4 (File No. 33-75986), as filed electronically on April
12, 1996 (Accession No. 0000912057-96-006383).
4. Incorporated by reference to Post-Effective Amendment No. 1 to Registration
Statement on Form N-4 (File No. 333-56297), as filed electronically on
September 14, 1998 (Accession No. 0000950146-98-001574).
5. Incorporated by reference to Pre-Effective Amendment No. 1 to Registration
Statement on Form N-4 (File No. 333-56297), as filed electronically on
August 4, 1998 (Accession No. 0000950146-98-001283).
<PAGE>
6. Incorporated by reference to Post-Effective Amendment No. 1 to Registration
Statement on Form S-1 (File No. 33-60477), as filed electronically on April
15, 1996 (Accession No. 0000950146-96-000534).
7. Incorporated by reference to Post-Effective Amendment No. 12 to
Registration Statement on Form N-4 (File No. 33-75964), as filed
electronically on February 11, 1997 (Accession No. 0000950146-97-000159).
8. Incorporated by reference to Post-Effective Amendment No. 12 to
Registration Statement on Form N-4 (File No. 33-91846), as filed
electronically on October 30, 1997 (Accession No. 0000950146-97-001589).
9. Incorporated by reference to Post-Effective Amendment No. 30 to
Registration Statement on Form N-4 (File No. 33-34370), as filed
electronically on September 29, 1997 (Accession No. 0000950146-97-001485).
10. Incorporated by reference to Post-Effective Amendment No. 16 to
Registration Statement on Form N-4 (File No. 33-75964), as filed
electronically on February 9, 1998 (Accession No. 0000950146-98-000179).
11. Incorporated by Reference to Post-Effective Amendment No. 7 to Registration
Statement on Form S-6 (File No. 33-75248), as filed electronically on
February 24, 1998 (Accession No. 0000950146-98-000267).
12. Incorporated by reference to Post-Effective Amendment No. 3 to Registration
Statement on Form N-4 (File No. 33-88720), as filed electronically on June
28, 1996 (Accession No. 0000928389-96-000136).
13. Incorporated by reference to Post-Effective Amendment No. 10 to
Registration Statement on Form N-4 (File No. 33-75992), as filed
electronically on December 31, 1997 (Accession No. 0000950146-97-001982).
14. Incorporated by reference to Post-Effective Amendment No. 27 to
Registration Statement on Form N-4 (File No. 33-34370), as filed
electronically on April 16, 1997 (Accession No. 0000950146-97-000617).
<PAGE>
Item 25. Directors and Officers of the Depositor
- ------------------------------------------------
<TABLE>
<CAPTION>
Name and Principal
Business Address* Positions and Offices with Depositor
- ------------------ ------------------------------------
<S> <C>
Thomas J. McInerney Director and President
Shaun P. Mathews Director and Senior Vice President
Catherine H. Smith Director, Chief Financial Officer and Senior
Vice President
Deborah Koltenuk Vice President, Treasurer and Corporate
Controller
Therese M. Squillacote Vice President and Chief Compliance Officer
Kirk P. Wickman Vice President, General Counsel and
Corporate Secretary
</TABLE>
* The principal business address of all directors and officers listed is 151
Farmington Avenue, Hartford, Connecticut 06156.
Item 26. Persons Controlled by or Under Common Control with the Depositor or
- ----------------------------------------------------------------------------
Registrant
----------
Attached is a listing of all persons directly or indirectly controlled by
or under common control with the Registrant. The listing indicates (1) the state
or other sovereign power under the laws of which the entity is organized, (2)
the percentage of voting securities owned or other basis of control by the
person, if any, immediately controlling it (percentages are rounded to the
nearest whole percentage and are based on ownership of voting rights), and (3)
its principal business.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Inc. CT (1) Publicly Held Holding Company
- ---------------------------------------------------------------------------------------------------------------------
Aetna Services, Inc. CT (1) (*) Aetna Inc. 100% Holding Company
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare PA (1) (*) Aetna Inc. 100% Holding Company
Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Risk Indemnity Bermuda (1) (*) Aetna Inc. 100% Insurance
Company Limited
- ---------------------------------------------------------------------------------------------------------------------
Aetna Life Insurance CT (1) (*) Aetna Services, Inc. 100% Life and Health Insurance
Company and Related Services
- ---------------------------------------------------------------------------------------------------------------------
Aetna Retirement CT (1) (*) Aetna Services, Inc. 100% Holding Company
Services, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna International, CT (1) (*) Aetna Services, Inc. 100% Holding Company for
Inc. International Subsidiaries
- ---------------------------------------------------------------------------------------------------------------------
Aetna Health and Life CT (1) (*) Aetna Services, Inc. 100% Life and Health Insurance
Insurance Company
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Corporation (*) Fully Consolidated
(2) Partnership (**) One Line Consolidation
(3) Joint Venture (***) Not Consolidated
(4) Trust
(5) Limited Liability Company
+ Percentages are rounded to the nearest whole percent and are based on
ownership of voting rights.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Capital Trust I DE (4) (*) Aetna Services, Inc. 100% Business Trust
- ---------------------------------------------------------------------------------------------------------------------
Aetna Capital Trust II DE (4) (*) Aetna Services, Inc. 100% Business Trust
- ---------------------------------------------------------------------------------------------------------------------
Aetna Capital Trust III DE (4) (*) Aetna Services, Inc. 100% Business Trust
- ---------------------------------------------------------------------------------------------------------------------
Aetna Capital Trust IV DE (4) (*) Aetna Services, Inc. 100% Business Trust
- ---------------------------------------------------------------------------------------------------------------------
AUSHC Holdings, Inc. CT (1) (*) Aetna Services, Inc. 100% Holding Company
- ---------------------------------------------------------------------------------------------------------------------
Aetna Foundation, Inc. CT (1) (***) Aetna Services, Inc. 100%(a) Supports Charitable
Scientific, Literary and
Educational Activities
- ---------------------------------------------------------------------------------------------------------------------
Imperial Fire & Marine U.K. (1) (***) Aetna Services, Inc. 10% Reinsurance
Re-Insurance Company
Limited
- ---------------------------------------------------------------------------------------------------------------------
Aetna Business CT (1) (*) Aetna Services, Inc. 100% Provides Business Services
Resources, Inc. to External Clients
- ---------------------------------------------------------------------------------------------------------------------
AE Fifteen, Incorporated CT (1) (*) Aetna Services, Inc. 100% Shell Corp. for Interest in
Cogeneration
- ---------------------------------------------------------------------------------------------------------------------
Luettgens Limited CT (1) (*) Aetna Services, Inc. 100% Retail Specialty Store
- ---------------------------------------------------------------------------------------------------------------------
AE Housing Corp. CT (1) (*) Aetna Services, Inc. 100% Real Estate
- ---------------------------------------------------------------------------------------------------------------------
Aetna Capital L.L.C. DE (5) (*) Aetna Services, Inc. 95%(b) Finance - Limited Liability
Company
- ---------------------------------------------------------------------------------------------------------------------
Aetna Realty CT (1) (*) Aetna Services, Inc. 100% Real Estate Investment
Investments I, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Properties I CT (2) (***) Aetna Realty 84%(c) Real Estate Investment
Limited Partnership Investments I, Inc.
- ---------------------------------------------------------------------------------------------------------------------
PHPSNE Parent DE (1) (*) AUSHC Holdings, Inc. 55% Holding Company
Corporation
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(a) Nonstock Corporation
(b) Aetna Capital Holdings, Inc. owns 5% of this Limited Liability Company.
(c) Aetna Realty Investments I, Inc. is a 1% general partner and an 83%
limited partner.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Health Plans of CT (1)(*) PHPSNE Parent 100% Health Care
Southern New England, Corporation
Inc.
- ---------------------------------------------------------------------------------------------------------------------
CMBS Holdings, Inc. TX (1) (*) Aetna Life Insurance 100% Real Estate Investment and
Company Management
- ---------------------------------------------------------------------------------------------------------------------
CMBS Holdings, Inc. - II CT (1) (*) Aetna Life Insurance 100% Real Estate
Company
- ---------------------------------------------------------------------------------------------------------------------
CMBS Holdings, L.L.C. CT (5) (*) Aetna Life Insurance 99%(d) Real Estate
Company
- ---------------------------------------------------------------------------------------------------------------------
Aetna Real Estate CT (1) (*) Aetna Life Insurance 100% Acquire, Develop and Lease
Properties, Inc. Company Real Estate
- ---------------------------------------------------------------------------------------------------------------------
AE Fourteen, Inc. CT (1) (*) Aetna Life Insurance 100% Cogeneration
Company
- ---------------------------------------------------------------------------------------------------------------------
Aetna Life Assignment CT (1) (*) Aetna Life Insurance 100% Assignment Company for
Company Company Structured Settlements
- ---------------------------------------------------------------------------------------------------------------------
Aetna/Area Corporation CT (1) (*) Aetna Life Insurance 100% Real Estate Investment and
Company Management
- ---------------------------------------------------------------------------------------------------------------------
Aetna Institutional CT (2) (**) Aetna Life Insurance 13%(e) Real Estate Investment
Investors I Limited Company
Partnership
- ---------------------------------------------------------------------------------------------------------------------
Shadow Ridge At Oak CA (2) (**) Aetna Life Insurance 80% Real Estate
Park Condominium Company
Associates
- ---------------------------------------------------------------------------------------------------------------------
BPC Equity, Inc. DE (1) (*) Aetna Life Insurance 100% General Business Corporation
Company
- ---------------------------------------------------------------------------------------------------------------------
BPC Equity, L.L.C. DE (5) (*) Aetna Life Insurance 99%(f) General Business Corporation
Company
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(d) CMBS Holdings, Inc.-II owns 1% of this Limited Liability Company.
(e) Aetna Real Estate Properties, Inc. is a 1% general partner.
(f) BPC Equity, Inc. owns 1% of this Limited Liability Company.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Affordable CT (1) (*) Aetna Life Insurance 100% Real Estate Investment
Housing, Inc. Company
- ---------------------------------------------------------------------------------------------------------------------
AHP Holdings, Inc. CT (1) (*) Aetna Life Insurance 100% Holding Company
Company
- ---------------------------------------------------------------------------------------------------------------------
Bay Area Mall, L.L.C. DE (5) (*) Aetna Life Insurance 99%(g) Real Estate
Company
- ---------------------------------------------------------------------------------------------------------------------
Bay Area Mall, Inc. DE (1) (*) Aetna Life Insurance 100% Real Estate
Company
- ---------------------------------------------------------------------------------------------------------------------
455 Market Street CA (2) (**) Aetna Life Insurance 90%(h) Real Estate
Company
- ---------------------------------------------------------------------------------------------------------------------
Koll Center Newport A CA (2) (**) Aetna Life Insurance 50%(i) Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
Koll Center Newport CA (2) (**) Aetna Life Insurance 50%(j) Real Estate Investment
Number 8 Company
- ---------------------------------------------------------------------------------------------------------------------
Koll Center Newport CA (2) (**) Aetna Life Insurance 50%(k) Real Estate Investment
Number 9 Company
- ---------------------------------------------------------------------------------------------------------------------
Koll Center Newport CA (2) (**) Aetna Life Insurance 50%(l) Real Estate Investment
Number 10 Company
- ---------------------------------------------------------------------------------------------------------------------
Koll Center Newport CA (2) (**) Aetna Life Insurance 50%(m) Real Estate Investment
Number 11 Company
- ---------------------------------------------------------------------------------------------------------------------
Koll Center Newport CA (3) (**) Aetna Life Insurance 60% Real Estate Investment
Number 14 Company
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(g) Bay Area Mall, Inc. owns 1% of this Limited Liability Company.
(h) 89% general partner and 1% limited partner.
(i) Aetna Life Insurance Company is a 49% general partner and a 1% limited
partner.
(j) Aetna Life Insurance Company is a 49% general partner and a 1% limited
partner.
(k) Aetna Life Insurance Company is a 49% general partner and a 1% limited
partner.
(l) Aetna Life Insurance Company is a 49% general partner and a 1% limited
partner.
(m) Aetna Life Insurance Company is a 49% general partner and a 1% limited
partner.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Pinnacle McDowell DE (5) (**) Aetna Life Insurance 100% Real Estate Holding Company
Investors, L.L.C. Company
- ---------------------------------------------------------------------------------------------------------------------
1111 Pasquinelli Dr. DE (5) (**) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
- ---------------------------------------------------------------------------------------------------------------------
1400 Busch Parkway, DE (5) (**) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
- ---------------------------------------------------------------------------------------------------------------------
Hayward Industrial Park CT (2) (**) Aetna Life Insurance 99% Real Estate Investment
Associates Company
- ---------------------------------------------------------------------------------------------------------------------
Aetna Hamilton IL (2) (**) Aetna Life Insurance 62% Real Estate
Partnership Company
- ---------------------------------------------------------------------------------------------------------------------
Waterloo Associates NC (2) (**) Aetna Life Insurance 99%(n) Real Estate Investment
Limited Partnership Company
- ---------------------------------------------------------------------------------------------------------------------
Gables At Farmington CT (2) (**) Aetna Life Insurance 60% Real Estate Investment
Associates Company
- ---------------------------------------------------------------------------------------------------------------------
Country Club Heights at MA (2) (**) Aetna Life Insurance 60% Real Estate Investment
Woburn Associates Company
- ---------------------------------------------------------------------------------------------------------------------
Carlyle Club Apartments DE (5) (**) Aetna Life Insurance 100% Real Estate Holding Company
Investors, L.L.C. Company
- ---------------------------------------------------------------------------------------------------------------------
Citation Club DE (5) (**) Aetna Life Insurance 100% Real Estate Holding Company
Investors, L.L.C. Company
- ---------------------------------------------------------------------------------------------------------------------
Britcher Aetna-Laguna CA (2) (**) Aetna Life Insurance 68% Real Estate Investment
Hills Company
- ---------------------------------------------------------------------------------------------------------------------
Harbor Business Park CA (2) (**) Aetna Life Insurance 99% Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
Ensenada De Las Colinas TX (2) (**) Aetna Life Insurance 99%(o) Real Estate Investment
I Associates Company
- ---------------------------------------------------------------------------------------------------------------------
Trevose Hospitality, CT (1) (**) Aetna Life Insurance 100% Real Estate Investment
Inc. Company
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(n) Aetna Life Insurance Company is a 99% general partner and Trumbull Three,
Inc. is a 1% limited partner.
(o) Aetna Life Insurance Company is a 99% general partner and Trumbull One,
Inc. is a 1% limited partner.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Oaks at Valley Ranch I TX (2) (**) Aetna Life Insurance 99%(p) Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
Oaks at Valley Ranch II TX (2) (**) Aetna Life Insurance 99%(q) Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
KBC-RED Hill Limited CA (2) (**) Aetna Life Insurance 80% Real Estate Investment
Partnership Company
- ---------------------------------------------------------------------------------------------------------------------
KBC-Eastside Limited AZ (2) (**) Aetna Life Insurance 80% Real Estate Investment
Partnership Company
- ---------------------------------------------------------------------------------------------------------------------
900 North Stuart Street DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Investors L.L.C. Company
- ---------------------------------------------------------------------------------------------------------------------
Stuart Park Associates, VA (5) (***) 900 North Stuart 50% Real Estate Holding Company
L.L.C. Street Investors
L.L.C.
- ---------------------------------------------------------------------------------------------------------------------
Trumbull One, Inc. CT (1) (*) Aetna Life Insurance 100% Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
Trumbull Three, Inc. CT (1) (*) Aetna Life Insurance 100% Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
Trumbull Four, Inc. CT (1) (*) Aetna Life Insurance 100% Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
Southfield Partners MD (2) (**) Aetna Life Insurance 99%(r) Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
Lincoln Rancho CA (2) (**) Aetna Life Insurance 60% Real Estate Investment
Cucamonga Associates Company
- ---------------------------------------------------------------------------------------------------------------------
1010 Executive Court, DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
- ---------------------------------------------------------------------------------------------------------------------
Becknell Properties IL (2) (**) Aetna Life Insurance 75% Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(p) Aetna Life Insurance Company is a 99% general partner and Trumbull One,
Inc. is a 1% limited partner.
(q) Aetna Life Insurance Company is a 99% general partner and Trumbull One,
Inc. is a 1% limited partner.
(r) Aetna Life Insurance Company is a 99% general partner and Trumbull Four,
Inc. is a 1% limited partner.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
3365 Enterprise Avenue DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Investors, L.L.C. Company
- ---------------------------------------------------------------------------------------------------------------------
Cherry Hill Investors CT (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
- ---------------------------------------------------------------------------------------------------------------------
Village Green of MI (2) (**) Aetna Life Insurance 99%(s) Real Estate Investment
Madison Heights Company
- ---------------------------------------------------------------------------------------------------------------------
Centrum Associates CA (2) (**) Aetna Life Insurance 65% Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
Tri-City Mall Associates AZ (2) (**) Aetna Life Insurance 50% Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
Southwest Financial AZ (2) (**) Aetna Life Insurance 60% Real Estate Investment
Associates Company
- ---------------------------------------------------------------------------------------------------------------------
B&H Ventures IV Limited CT (2) (**) Aetna Life Insurance 75% Real Estate Investment
Partnership Company
- ---------------------------------------------------------------------------------------------------------------------
Champions Richland TX (2) (*) Aetna Life Insurance 99%(t) Real Estate Investment
Northcourte Partnership Company
- ---------------------------------------------------------------------------------------------------------------------
Chris-Town Village AZ (2) (**) Aetna Life Insurance 50% Real Estate Investment
Associates Company
- ---------------------------------------------------------------------------------------------------------------------
Arshaw Partners I TX (2) (*) Aetna Life Insurance 50% Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
Arshaw Partners II TX (2) (**) Aetna Life Insurance 50% Real Estate Holding Company
Company
- ---------------------------------------------------------------------------------------------------------------------
Assembly Square Mall LLC DE (5) (**) Aetna Life Insurance 99%(u) Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
Spectrum Fashion Center AZ (2) (**) Aetna Life Insurance 50% Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(s) Aetna Life Insurance Company is a 99% general partner and Trumbull Three,
Inc. is a 1% limited partner.
(t) Aetna Life Insurance Company is a 99% general partner and Trumbull One,
Inc. is a 1% limited partner.
(u) Aetna Life Insurance Company is a 99% general partner and Bay Area Mall,
Inc., is a 1% general partner.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Canyon Springs TX (2) (**) Aetna Life Insurance 100%(v) Real Estate Holding Company
Investment Partners L.P. Company
- ---------------------------------------------------------------------------------------------------------------------
Chambridgeside Galleria MA (2) (**) Aetna Life Insurance 50% Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
Stamford Town Center DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Investors L.L.C. Company
- ---------------------------------------------------------------------------------------------------------------------
Rich-Taubman Associates MA (2) (***) Stamford Town Center 50% Real Estate Holding Company
Investors L.L.C.
- ---------------------------------------------------------------------------------------------------------------------
ADBI Partnership FL (2) (**) Aetna Life Insurance 30% Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
Marriott Inner Harbor MD (2) (*) Aetna Life Insurance 99% Real Estate Investment
Hotel Company
- ---------------------------------------------------------------------------------------------------------------------
737 North Michigan DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Avenue Investors L.L.C. Company
- ---------------------------------------------------------------------------------------------------------------------
Meridian Business DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Campus Investors I Company
L.L.C.
- ---------------------------------------------------------------------------------------------------------------------
1501 Fourth Ave. WA (2) (**) Aetna Life Insurance 91%(w) Real Estate Investment
Limited Partnership Company
- ---------------------------------------------------------------------------------------------------------------------
Thace Associates MI (2) (**) Aetna Life Insurance 25% Real Estate Investment
Company
- ---------------------------------------------------------------------------------------------------------------------
Eastmeadow Distribution GA (2) (**) Aetna Life Insurance 99%(x) Real Estate Investment
Center Limited Company
Partnership
- ---------------------------------------------------------------------------------------------------------------------
Eastmeadow Distribution GA (2) (**) Aetna Life Insurance 99%(y) Real Estate Investment
Center Phase II Limited Company
Partnership
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(v) Aetna Life Insurance Company is a 99% limited partner and Trumbull One,
Inc. is a 1% general partner.
(w) Aetna Life Insurance Company is a 90% general partner and a 1% limited
partner.
(x) Aetna Life Insurance Company is a 98% general partner and a 1% limited
partner.
(y) Aetna Life Insurance Company is a 98% general partner and a 1% limited
partner.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
777 Oak Lane, L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
- ---------------------------------------------------------------------------------------------------------------------
Azalea Mall, L.L.C. DE (5) (**) Aetna Life Insurance 99%(z) Real Estate Holding Company
Company
- ---------------------------------------------------------------------------------------------------------------------
Southeast Second DE (1) (*) Aetna Life Insurance 100% Real Estate Investment
Avenue, Inc. Company
- ---------------------------------------------------------------------------------------------------------------------
Menlo One, L.L.C. DE (5) (**) Aetna Life Insurance 99%(aa) Real Estate Holding Company
Company
- ---------------------------------------------------------------------------------------------------------------------
Central Trust Center OH (2) (**) Aetna Life Insurance 15% Real Estate Investment
Associates Company
- ---------------------------------------------------------------------------------------------------------------------
South Center I & II DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Investors L.L.C. Company
- ---------------------------------------------------------------------------------------------------------------------
South Center III & IV DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Investors L.L.C. Company
- ---------------------------------------------------------------------------------------------------------------------
Capitol District Energy CT (2) (**) AE Fourteen, Inc. 50% Cogeneration of Electrical
Center Cogeneration Power
Associates
- ---------------------------------------------------------------------------------------------------------------------
Aetna Insurance Company CT (1) (*) AHP Holdings, Inc. 100% Insurance
of Connecticut
- ---------------------------------------------------------------------------------------------------------------------
Aetna Retirement CT (1) (*) Aetna Retirement 100% Holding Company
Holdings, Inc. Services, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Investment CT (1)(*) Aetna Retirement 100% Holding Company for
Adviser Holding Holdings, Inc. Investment Adviser Companies
Company, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Life Insurance CT (1) (*) Aetna Retirement 100% Life Insurance, Pensions
and Annuity Company Holdings, Inc. And Annuities
- ---------------------------------------------------------------------------------------------------------------------
Aetna Retail Holding CT (1)(*) Aetna Retirement 100% Holding Company for Retail
Company, Inc. Holdings, Inc. Distribution Companies
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(z) Southeast Second Avenue, Inc. owns 1% of these limited liability companies.
(aa) Southeast Second Avenue, Inc. owns 1% of these limited liability companies.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Services Holding CT (1)(*) Aetna Retirement 100% Holding Company for Service
Company, Inc. Holdings, Inc. Contract Companies
- ---------------------------------------------------------------------------------------------------------------------
Systematized Benefits CT (1) (*) Aetna Services 100% Third Party Administrator
Administrators, Inc. Holding Company, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aeltus Investment CT (1) (*) Aetna Investment 100% Investment Advisor
Management, Inc. Adviser Holding
Company, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Insurance Agency CT (1) (*) Aetna Retail Holding 100% Holding Company
Holdings Company, Inc. Company, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Investment CT (1) (*) Aetna Retail Holding 100% Distribute Securities
Services, Inc. Company, Inc. Products - ALIAC and
Outside Funds
- ---------------------------------------------------------------------------------------------------------------------
Aetna Financial CT (1) (*) Aetna Retirement 100% Broker-Dealer and
Services, Inc. Holdings, Inc. Investment Advisor
- ---------------------------------------------------------------------------------------------------------------------
FNI International, Inc. CA (1) (*) Aetna Retail Holding 100% Holding Company
Company, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Insurance Company CT (1) (*) Aetna Life Insurance 100% Write/Reinsure Life and
of America and Annuity Company Annuity Business
- ---------------------------------------------------------------------------------------------------------------------
Aetna New Series Fund, MD (1) (**) Aetna Life Insurance 100% Regulated Investment
Inc. and Annuity Company Company (Mutual Fund)
- ---------------------------------------------------------------------------------------------------------------------
Aetna Income Shares MA (4) (**) Aetna Life Insurance 99% Regulated Investment
and Annuity Company Company (Mutual Fund)
- ---------------------------------------------------------------------------------------------------------------------
Aetna Variable Encore MA (4) (**) Aetna Life Insurance 100% Regulated Investment
Fund and Annuity Company Company (Mutual Fund)
- ---------------------------------------------------------------------------------------------------------------------
Aetna GET Fund MA (4) (**) Aetna Life Insurance 100% Regulated Investment
and Annuity Company Company (Mutual Fund)
- ---------------------------------------------------------------------------------------------------------------------
Aetna Variable MD (1) (**) Aetna Life Insurance 98%(bb) Regulated Investment
Portfolios, Inc. and Annuity Company Company (Mutual Fund)
- ---------------------------------------------------------------------------------------------------------------------
Aetna Variable Fund MA (4) (**) Aetna Life Insurance 98% Regulated Investment
and Annuity Company Company (Mutual Fund)
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(bb) Aetna Life Insurance Company owns 2% of these funds.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Generation MD (1) (**) Aetna Life Insurance 100% Regulated Investment
Portfolios, Inc. and Annuity Company Company (Mutual Fund)
- ---------------------------------------------------------------------------------------------------------------------
Aetna Balanced VP, Inc. MD (1) (**) Aetna Life Insurance 100% Regulated Investment
and Annuity Company Company (Mutual Fund)
- ---------------------------------------------------------------------------------------------------------------------
Aetna Series Fund, Inc. MD (1) (**) Aetna Life Insurance 38%(cc) Regulated Investment
and Annuity Company Company (Mutual Fund)
- ---------------------------------------------------------------------------------------------------------------------
Portfolio Partners, Inc. MD (1) (**) Aetna Life Insurance 100% Regulated Investment
and Annuity Company Company (Mutual Fund)
- ---------------------------------------------------------------------------------------------------------------------
Financial Network CA (1) (*) FNI International, 100% Broker/Dealer
Investment Corporation Inc.
- ---------------------------------------------------------------------------------------------------------------------
FN Insurance Agency of MA (1) (*) FNI International, 100% Broker/Dealer
Massachusetts, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
FN Insurance Services, CA (1) (*) FNI International, 100% Insurance Agency
Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
FN Insurance Services AL (1) (*) FNI International, 100% sale of life and health and
of Alabama, Inc. Inc. variable products
- ---------------------------------------------------------------------------------------------------------------------
FN Insurance Services NV (1) (*) FNI International, 100% To engage as an agent,
of Nevada, Inc. Inc. managing general agent
broker in all classes of
insurance
- ---------------------------------------------------------------------------------------------------------------------
Financial Network HA (1)(*) Financial Network 100% Insurance Agency and
Investment Corporation Investment Corporation Insurance Broker
of Hawaii
- ---------------------------------------------------------------------------------------------------------------------
Aetna Investment Bermuda (1) (*) Aeltus Investment 100% Holding Company
Management (Bermuda) Management, Inc.
Holdings Limited
- ---------------------------------------------------------------------------------------------------------------------
Aeltus Trust Company CT (1)(*) Aeltus Investment 100% fiduciary powers re banking
Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aeltus Capital, Inc. CT (1) (*) Aeltus Investment 100% Broker-Dealer Related
Management, Inc. Functions
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(cc) Non-voting interest.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
China Dynamic Hong Kong (1) (**) Aetna Investment 50% Establish and Manage
Investment Management Management (Bermuda) Collective Investment Scheme
(Hong Kong) Limited Holdings Limited
- ---------------------------------------------------------------------------------------------------------------------
Aetna Insurance Agency, CT (1) (*) Aetna Insurance 100% Insurance agency for the
Inc. Agency Holdings marketing of registered and
Company, Inc. nonregistered insurance
products
- ---------------------------------------------------------------------------------------------------------------------
Aetna Insurance Agency MA (1) (*) Aetna Insurance 100% Insurance agency for the
of Massachusetts, Inc. Agency Holdings marketing of registered and
Company, Inc. nonregistered insurance
products
- ---------------------------------------------------------------------------------------------------------------------
Aetna Insurance Agency AL (1)(*) Aetna Insurance 100% Insurance agency for the
of Alabama, Inc. Agency Holdings marketing of registered and
Company, Inc. nonregistered insurance
products
- ---------------------------------------------------------------------------------------------------------------------
Aetna Insurance Agency Ohio (1) (*) Aetna Insurance 90% Insurance agency for the
of Ohio, Inc. Agency Holdings marketing of registered and
Company, Inc. nonregistered insurance
products
- ---------------------------------------------------------------------------------------------------------------------
Aetna International Hong Kong (1) (*) Aetna International, 100% Holding Company for
Holdings (Hong Kong) I Inc. Insurance and Financial
Limited Services
- ---------------------------------------------------------------------------------------------------------------------
East Asia Aetna Bermuda (1) (**) Aetna International, 50% Life Disability and
Insurance Company Inc. Employee Benefits Ins. in
(Bermuda) Ltd. H.K.
- ---------------------------------------------------------------------------------------------------------------------
Aetna International CT (1) (*) Aetna International, 100% Investment Management
Fund Management Inc. Inc. Services
- ---------------------------------------------------------------------------------------------------------------------
Aetna Holdings (Cayman) Cayman (1) (**) Aetna International, 100% Insurance Company
Ltd. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Argentina S.A. Argentina (1) (*) Aetna Holdings Cayman 100% Holding Company
Limited
- ---------------------------------------------------------------------------------------------------------------------
ALICA Holdings, Inc. CT (1) (*) Aetna International, 80% Dedicated Holding Company
Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Life Insurance CT (1) (*) Aetna International, 100% Life Insurance
Company of America Inc.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna International Hong Kong (1) (*) Aetna International, 100% Holding Company
Holdings (Hong Kong) II Inc.
Limited
- ---------------------------------------------------------------------------------------------------------------------
Aetna Internacional y Mexico (1) (**) Aetna International, 71%(dd) Holding Company
Compania, S. en N.C. de Inc.
C.V.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Internacional De Mexico (1) (**) Aetna International, 100% Mexican Holding Company
Mexico S.A. De C.V. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna S.A. Chile (1) (*) Aetna International, 100% Holding Co.
Inc.
- ---------------------------------------------------------------------------------------------------------------------
Arcella Limited Hong Kong (1) (*) Aetna International, 100% Investment & Holding Co.
Inc. for Aetna's Asia Pacific
Operations
- ---------------------------------------------------------------------------------------------------------------------
Aetna Life & Casualty Bermuda (1) (*) Aetna International, 100% Insurance, Guaranteed and
Bermuda Limited Inc. Indemnity Business
- ---------------------------------------------------------------------------------------------------------------------
Aetna International Luxembourg (1) (*) Aetna International, 100% Investment Services
Global Investment Inc.
Services S.A.
- ---------------------------------------------------------------------------------------------------------------------
Inversiones Mercantil Venezuela (1) (*) Aetna International, 50% Insurance Company
Aetna, C.A. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Heart Investment Taiwan (1) (*) Aetna International, 80% Holding Company
Holdings Limited Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Life and Casualty Netherlands Antilles Aetna International, 100% Finance Investment Company
International Finance (1) (*) Inc.
N.V.
- ---------------------------------------------------------------------------------------------------------------------
Sul America Aetna Brazil Aetna International, 49% Insurance
Seguros de Previdencia Inc.
S.A.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Investment Australia (1) (*) Aetna International, 100% Stockbroking
Management (Australia) Inc.
Limited
- ---------------------------------------------------------------------------------------------------------------------
Aetna Capital Holdings, CT (1) (*) Aetna International, 100% Holding Company
Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(dd) Aetna International de Mexico, S.A. de C.V. and AE Five, Incorporated own
each 15% of Aetna Internacional y Compania, S. en N.C. de C.V.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Securities Taiwan (1) (*) Aetna International, 80% Securities Investment
Investment Management Inc. Advisor
(Taiwan) Ltd.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Capital U.K. (1) (*) Aetna International, 100% Promoter of Offshore Mutual
Management Inc. Funds or other Open-Ended
International Ltd. Investment Vehicles
- ---------------------------------------------------------------------------------------------------------------------
AE Five Incorporated CT (1) (*) Aetna International, 100% Holding Company
Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Salud S.A. Argentina (1) (*) Aetna International, 100% Managing of Health Services
Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Vida S.A. Argentina (1) (*) Aetna International, 100% Health and Life Insurance
Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Investment Hong Kong (1) (*) Aetna International, 100% Investment Management &
Management (F.E.) Inc. Advisory Services for
Nominees Limited Individual Clients and
Investment Funds
- ---------------------------------------------------------------------------------------------------------------------
Aetna Canada Holdings Canada (1) (*) Aetna International, 100% Investment Holding Company
Limited Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Investment Taiwan (1) (*) Aetna International, 80% Provide Non-Security
Management (Taiwan) Inc. Business and Investment
Limited Advice
- ---------------------------------------------------------------------------------------------------------------------
Aetna International New Zealand (1) (*) Aetna International, 100% Holding Company
(N.Z.) Limited Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Investment Hong Kong (1) (*) Aetna International, 100% Investment Holding Company
Management (F.E.) Inc.
Holdings Limited
- ---------------------------------------------------------------------------------------------------------------------
Aetna Phillippine Phillippine (1) (*) Aetna International, 100% Holding Company
Ventures, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Life Insurance Philippines (1) (*) Aetna Philippine 100% Life Insurance
Inc. Ventures, Inc.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Healthcare, Inc. Philippines (1) (*) Aetna Life Insurance 100% Insurance
Inc.
- ---------------------------------------------------------------------------------------------------------------------
Blue Cross (Asia Hong Kong (1) (**) Aetna International 35%(ee) Underwriter Casualty and
Pacific) Insurance Ltd. Holdings (Hong Kong) General Insurance in Hong
I Limited Kong and Macau
- ---------------------------------------------------------------------------------------------------------------------
East Asia Aetna Hong Kong (1) (**) East Asia Aetna 100% Management services to
Services Company Insurance Company associate companies
Limited (Bermuda) Ltd.
- ---------------------------------------------------------------------------------------------------------------------
The Aetna International Luxembourg (1) (***) Aetna Life Insurance 03%(ff) An Undertaking for the
Umbrella Fund Company of America Collective Investment in
Transferable Securities
- ---------------------------------------------------------------------------------------------------------------------
PT Aetna Life Insurance Indonesia (1) (**) Aetna Life Insurance 80% Limited Liability Life
Indonesia Company of America Insurance Company
- ---------------------------------------------------------------------------------------------------------------------
Daya Aetna (Malaysia) Malaysia (1) (*) Aetna International 82% Holding Company
SDN. BHD. Holdings (Hong Kong)
II Limited
- ---------------------------------------------------------------------------------------------------------------------
Aetna Universal Malaysia (1) (*) Daya Aetna (Malaysia) 100% Individual Life, Home
Insurance Berhad SDN. BHD. Service, Group and General
Insurance
- ---------------------------------------------------------------------------------------------------------------------
Aetna Heart Co., Ltd. Taiwan (1) (a) Aetna Heart 100% Trading Company - Marketing
Investment Holdings of Gifts and Souvenirs
Limited
- ---------------------------------------------------------------------------------------------------------------------
Aetna South Life Agency Taiwan (1) (a) Aetna Heart 100% Administrative Support
Co., Ltd. Investment Holdings
Limited
- ---------------------------------------------------------------------------------------------------------------------
Huei Hong Securities Taiwan (1) (a) Aetna Heart 20% Securities Trading
Co., Ltd. Investment Holdings
Limited
- ---------------------------------------------------------------------------------------------------------------------
Aetna Heart Publishing Taiwan (1) (a) Aetna Heart 100% Trading Company
Company Ltd. Investment Holdings
Limited
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(ee) East Asia Aetna Insurance Company (Bermuda) Ltd. Owns 30% of Blue Cross
(Asia Pacific) Insurance Ltd.
(ff) Percentage controlled by Aetna Services, Inc. includes ownership by the
following: Aetna Services, Inc. 1%, Aetna Life & Casualty Bermuda Limited
3%, Aetna Life Insurance Company of Canada 1% and Aetna Securities
Investment Management (Taiwan) Ltd. 25%.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Seguros Mercantil, C.A. Venezuela (1) (*) Inveriones Mercantil 100% Insurance Company
Aetna, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Seguros Monterrey Mexico (1) (**) AE Five Incorporated 14%(gg) Insurance and Reinsurance
Aetna, S.A.
- ---------------------------------------------------------------------------------------------------------------------
Fianzas Monterrey Mexico (1) (**) AE Five Incorporated 14%(gg) Issuance of Bonds
Aetna, S.A.
- ---------------------------------------------------------------------------------------------------------------------
Aetna (Netherlands) Netherlands (1) (*) Aetna Life and 100% Finance Company
Holdings B.V. Casualty
International Finance
N.V.
- ---------------------------------------------------------------------------------------------------------------------
Travelguard Limited Hong Kong (1) (*) Blue Cross (Asia 100% Insurance Agent
Pacific) Insurance
Ltd.
- ---------------------------------------------------------------------------------------------------------------------
Toursafe Limited Hong Kong (1) (*) Blue Cross (Asia 100% Insurance Agent
Pacific) Insurance
Ltd.
- ---------------------------------------------------------------------------------------------------------------------
Travelsafe Limited Hong Kong (1) (*) Blue Cross (Asia 100% Insurance Agent for its
Pacific) Insurance Ultimate Holding Company
Ltd.
- ---------------------------------------------------------------------------------------------------------------------
Multiasistencia, S.A. Mexico (1) (**) Seguros Bancomer, 50%(hh) Administrative Services in
de C.V. S.A. de C.V. Connection with Insurance
Claims
- ---------------------------------------------------------------------------------------------------------------------
Meximed, S.A. de C.V. Mexico (1) (**) Seguros Bancomer, 50%(hh) Services for Insureds for
S.A. de C.V. Hospitals Admissions and
Claims Processing
- ---------------------------------------------------------------------------------------------------------------------
Seguros Bancomer, S.A. Mexico (1) (**) Aetna Internacional 49% Insurance and Reinsurance
de C.V. Compania S en N.C. de Company
C.V.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(gg) Aetna International, Inc. owns 14% of this company, Aetna Internacional de
Mexico, S.A. de C.V. owns 13% of this company and Aetna Internacional
Compania, S en CV de C.V. owns 8% of this company.
(hh) Seguros Monterrey Aetna, S.A. owns 50% of the Multiasistencia, S.A. de C.V.
and Meximed S.A. de C.V.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Pensiones Bancomer S.A. Mexico (1) (**) Aetna Internacional 49% Insurance Company
de C.V. Compania S en N.C. de
C.V.
- ---------------------------------------------------------------------------------------------------------------------
Administradora de Mexico (1) (**) Aetna Internacional 49%(ii) Retirement Funds Management
Fondos Para el Retiro Compania S en N.C. de Company
Bancomer, S.A. de C.V. C.V.
- ---------------------------------------------------------------------------------------------------------------------
Grupo Vamsa, S.A. de Mexico (1) (**) Aetna Internacional 49% Legal Administration and
C.V. Compania S en N.C. de Financial Services
C.V.
- ---------------------------------------------------------------------------------------------------------------------
Asesores en Promocion Mexico (1) (**) Seguros Bancomer, 33%(jj) Marketing of Seguros
Segunomina S.A. de C.V. S.A. de C.V. Products/Payroll Discounts
- ---------------------------------------------------------------------------------------------------------------------
Inverval De Mexico S.A. Mexico (1) (*) Aetna Internacional 100% Holding Company
de C.V. Compania S en N.C. de
C.V.
- ---------------------------------------------------------------------------------------------------------------------
AE Five Compania S. de Mexico (1) (*) Aetna Ninernacional 100% Limited Limitability
R.L. de C.V. Compania S en N.C. de Company formed under Mex.
C.V. Law for the purpose of
issuing CPOs in Mexico.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Chile Seguros Chile (1) (*) Aetna S.A. 98% Casualty Insurance Company
Generales S.A.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Administradora de Chile (1) (*) Aetna S.A. 100% Real Estate Investment
Fondos de Inversion S.A. Trust Management Co.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Chile Seguros de Chile (1) (*) Aetna S.A. 100% Life Insurance Company
Vida S.A.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Pensiones S.A. Chile (1) (*) Aetna S.A. 100% Holding Company
- ---------------------------------------------------------------------------------------------------------------------
Aetna Credito Chile (1) (*) Aetna S.A. 100% Mortgage Company
Hipotecario S.A.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(ii) Administradora de Fondos de Pensiones Santa Maria S.A. owns 16% of
Administradora de Fondos Para el Retiro Bancomer, S.A. de C.V.
(jj) Seguros Monterrey Aetna, S.A. owns 34% and Pensiones Bancomer, S.A. de C.V.
owns 33% of Agesores en Promocion Segunomina, S.A. de C.V.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Cruz-Blanca Isapre, Chile (1) (*) Aetna S.A. 75% Insurance Company
S.A.
- ---------------------------------------------------------------------------------------------------------------------
Aetna International Peru (1) (*) Aetna S.A. 86%(kk) Holding Company
Peru S.A.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Salud S.A. Chile (1) (*) Aetna S.A. 90% Health Indemnity - Chile
- ---------------------------------------------------------------------------------------------------------------------
Administradora de Chile (1) (*) Aetna Pensiones S.A. 71% Pension Funds Management
Fondos de Pensiones Company
Santa Maria S.A.
- ---------------------------------------------------------------------------------------------------------------------
Santa Maria Chile (1) (*) Administradora de 100% Pension Administration
Internacional S.A. Fondos de Pensiones
Santa Maria S.A.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Pensiones Peru Peru (1) (**) Santa Maria 66%(ll) Investment
S.A. Internacional S.A.
- ---------------------------------------------------------------------------------------------------------------------
Administradora de Peru (1) (**) Aetna Pensiones Peru 40%(mm) Pension Funds Management
Fondos de Pensiones S.A. Company
Integra S.A.
- ---------------------------------------------------------------------------------------------------------------------
Wiese Aetna Compania de Peru (1) (*) Aetna International 34% Insurance and Reinsurance
Seguros S.A. Peru S.A.
- ---------------------------------------------------------------------------------------------------------------------
Immobilaria Padre Chile (1) (*) Aetna Credito 99%(nn) Real Estate Development
Marinano S.A. Hipotecario S.A.
- ---------------------------------------------------------------------------------------------------------------------
Sul America Previdencia Brazil (1) (*) Sul America Aetna 100% Pension
Privada Seguros de
Previdencia S.A.
- ---------------------------------------------------------------------------------------------------------------------
Sul America Servicos Brazil (1) (*) Sul America Aetna 100% Health Administrator
Medicos S.A. Seguros de
Previdencia S.A.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(kk) Aetna Chile Seguros De Vida S.A. and Aetna Chile Seguros Generales S.A.
have combined ownership of 14%.
(ll) Aetna S.A. owns 34% of this company.
(mm) Aetna Pensiones Peru S.A. owns 40% of this company.
(nn) Aetna S.A. owns 1% of this company.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Clube Dos Executivos, Brazil (1) (*) Sul American Aetna 100% Life insurance sponsor
S.A. Seguros de
Previdencia S.A.
- ---------------------------------------------------------------------------------------------------------------------
Brasilprev Previdencia Brazil (1) (**) Sul America Aetna 22% Pension
Privada S.A. Seguros de
Previdencia S.A.
- ---------------------------------------------------------------------------------------------------------------------
Brasilsaude Companhia Brazil (1) (*) Sul America Aetna 51% Insurance
de Segoros Seguros de
Previdencia S.A.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Health Management Ontario (1)(*) Aetna Canada Holdings 100% Managed Healthcare
Canada, Inc. Limited
- ---------------------------------------------------------------------------------------------------------------------
Aetna Life Acceptance Ontario (1) (*) Aetna Canada Holdings 100% Provision of Financial
Corporation Limited Limited Assistance to Agents to
Assist in Growth of Business
- ---------------------------------------------------------------------------------------------------------------------
Equinox Financial Group Canada (1) (*) Aetna Canada Holdings 92%(oo) Distributor of Life
Inc. Limited Insurance, Financial and
Related Products
- ---------------------------------------------------------------------------------------------------------------------
2733854 Canada Ltd. Canada (1) (*) Aetna Canada Holdings 70%(pp) Marketing of Life Ins. and
Limited Related Products
- ---------------------------------------------------------------------------------------------------------------------
AlphaQuest Capital Ontario (1) (***) Aetna Canada Holdings 15% Investment Counselor
Management Limited Limited Portfolio Manager
- ---------------------------------------------------------------------------------------------------------------------
Aetna Life Insurance Canada (1) (*) Aetna Canada Holdings 100% Life, Accident and Sickness
Company of Canada Limited Insurance
- ---------------------------------------------------------------------------------------------------------------------
First Canadian Health Canada (1) (**) Aetna Health 49% Managed Health Services
Management Corporation, Management Canada,
Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Canadian Corporate Canada (1) (*) Aetna Health 75% Managed Health Services
Health Solutions Inc. Management Canada,
Inc.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(oo) Aetna Life Insurance Company of Canada owns 8% of this corporation.
(pp) Equinox Financial Group, Inc. owns 30% of this corporation.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Trillenium Investors Canada (1) (*) Equinox Financial 100% Mutual Funds
Services Inc. Group Inc.
- ---------------------------------------------------------------------------------------------------------------------
Landex Properties Ltd. British Columbia (1) Aetna Life Insurance 100% Real Estate Acquisitions
(*) Company of Canada
- ---------------------------------------------------------------------------------------------------------------------
Aetna Benefits Canada (1) (*) Aetna Life Insurance 100% Claims Administration and
Management, Inc. Company of Canada Actuarial Services
- ---------------------------------------------------------------------------------------------------------------------
Mount-Batten Properties Ontario (1) (*) Aetna Life Insurance 100% Acquisition, Development
Limited Company of Canada and Management of Real
Estate
- ---------------------------------------------------------------------------------------------------------------------
3158047 Canada Limited Canada (1) (*) Aetna Life Insurance 100% Acquisition, Development
Company of Canada and Management of Real
Estate
- ---------------------------------------------------------------------------------------------------------------------
Financial Life Canada (1) (*) Aetna Life Insurance 100% Insurance company
Assurance Company of Company of Canada
Canada
- ---------------------------------------------------------------------------------------------------------------------
Eclipse Claims Services Canada (1) (**) Aetna Life Insurance 25% Electronic Claims
Inc. Company of Canada Adjudication Services
- ---------------------------------------------------------------------------------------------------------------------
PVS Preferred Vision Canada (1) (**) Aetna Benefits 20% Provider of Ophthalmic,
Services Inc. Management, Inc. Service for Four Major
Shareholders
- ---------------------------------------------------------------------------------------------------------------------
Churchill Office Park Canada (1) (**) Mount-Batten 45% Real Estate Development of
Limited Properties Limited Ottawa Site
- ---------------------------------------------------------------------------------------------------------------------
Aetna Health (N.Z.) New Zealand (1) (**) Aetna International 50% Health Insurance
Limited (N.Z) Limited Underwriting
- ---------------------------------------------------------------------------------------------------------------------
Aetna Life Insurance New Zealand (1) (*) Aetna Health (N.Z.) 100% Group Benefits/Pension
(N.Z.) Limited Limited Management
- ---------------------------------------------------------------------------------------------------------------------
Human Affairs Limited New Zealand (1) (*) Aetna Health (N.Z.) 100% Indemnity Health Insurance
(N.Z.) Limited
- ---------------------------------------------------------------------------------------------------------------------
First Health (New New Zealand (1) (*) Aetna Health (N.Z.) 100% Super Annuitization/Long
Zealand Limited) Limited Term Care
- ---------------------------------------------------------------------------------------------------------------------
Prime Health Limited New Zealand (1) (*) First Health (New 50% Buying and Managing Risk
Zealand) Limited for Publicly Funded Health
Services and Providing
Management Services and
Infrastructure To its
Network of Doctors
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Managed Care New New Zealand (1) (*) Human Affairs (NZ) 100% Long Term Care provider
Zealand Limited Limited
- ---------------------------------------------------------------------------------------------------------------------
PLJ Holdings Limited Hong Kong (1) (*) Aetna Investment 100% Investment Management &
Management (F.E.) Securities Trading
Holdings Limited
- ---------------------------------------------------------------------------------------------------------------------
Aetna International Hong Kong (1) (*) Aetna Investment 100% Investment & Unit Trust
Fund Managers Limited Management (F.E.) Management
Holdings Limited
- ---------------------------------------------------------------------------------------------------------------------
Aetna Investment Hong Kong (1) (*) Aetna Investment 100% Nominee Services Holding
Management (F.E.) Management (F.E.) Assets of AIM F.E.'s
Limited Holdings Limited Customers in Street Name
- ---------------------------------------------------------------------------------------------------------------------
Kwang HUA Securities Taiwan (1) (***) Aetna Investment 20% Securities Investment &
Investment & Trust Co. Management (F.E.) Trust
Ltd. Holdings Limited
- ---------------------------------------------------------------------------------------------------------------------
Kwang HUA Securities Taiwan (1) (***) PLJ Holdings Limited 20% Investment Consulting
Investment Consultant Company
Co. Ltd.
- ---------------------------------------------------------------------------------------------------------------------
U.S. Healthcare DE (1) (*) Aetna U.S. Healthcare 100% Holding Company
Financial Services, Inc. Inc. (PA)
- ---------------------------------------------------------------------------------------------------------------------
Primary Holdings, Inc. DE (1) (*) Aetna U.S. Healthcare 100% Holding Company
Inc. (PA)
- ---------------------------------------------------------------------------------------------------------------------
Aetna Health DE (1) (*) Aetna U.S. Healthcare 100% HMO Management Company
Management, Inc. Inc. (PA)
- ---------------------------------------------------------------------------------------------------------------------
NYLCare Health Plans, DE (1) (*) Aetna U.S. Healthcare 100% Holding Company
Inc. Inc. (PA)
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare PA (1) (*) Aetna U.S. Healthcare 100% Dental
Dental Plan, Inc. Inc. (PA)
- ---------------------------------------------------------------------------------------------------------------------
U.S. Healthcare Dental NJ (1) (*) Aetna U.S. Healthcare 100% Dental
Plan, Inc. Inc. (PA)
- ---------------------------------------------------------------------------------------------------------------------
U.S. Healthcare Dental DE (1) (*) Aetna U.S. Healthcare 100% Dental
Plan, Inc. Inc. (PA)
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
U.S. Health Insurance NY (1) (*) Aetna U.S. Healthcare 100% Accident and Health
Company Inc. (PA) Insurance Company
- ---------------------------------------------------------------------------------------------------------------------
Corporate Health PA (1) (*) Aetna U.S. Healthcare 100% Accident and Health
Insurance Company Inc. (PA) Insurance Company
- ---------------------------------------------------------------------------------------------------------------------
U.S. Managed Care, Inc. MD (1) (*) Aetna U.S. Healthcare 100% Utilization Review
Inc. (PA)
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, NJ (1) (*) Aetna U.S. Healthcare 100% HMO
Inc. Inc. (PA)
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, NY (1) (*) Aetna U.S. Healthcare 100% HMO
Inc. Inc. (PA)
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, CT (1) (*) Aetna U.S. Healthcare 100% HMO
Inc. Inc. (PA)
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, MA (1) (*) Aetna U.S. Healthcare 100% HMO
Inc. Inc. (PA)
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, DE (1) (*) Aetna U.S. Healthcare 100% HMO
Inc. (DE) Inc. (PA)
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare NH (1) (*) Aetna U.S. Healthcare 100% HMO
of New Hampshire, Inc. Inc. (PA)
- ---------------------------------------------------------------------------------------------------------------------
Advent Investments, Inc. DE (1) (*) U.S. Healthcare 100% DE Holding Company
Financial Services,
Inc.
- ---------------------------------------------------------------------------------------------------------------------
Independent DE (1) (*) U.S. Healthcare 100% DE Holding Company
Investments, Inc. Financial Services,
Inc.
- ---------------------------------------------------------------------------------------------------------------------
United States PA (1) (*) U.S. Healthcare 100% Financial Services to
Physicians Care Financial Services, Physicians
Systems, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
United States Home PA (1) (*) U.S. Healthcare 100% Inactive - other Medical
Health Care Systems, Financial Services, Services
Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
U.S. Health Aviation PA (1) (*) U.S. Healthcare 100% Ownership and Operation of
Corp. Financial Services, Airplanes
Inc.
- ---------------------------------------------------------------------------------------------------------------------
U.S. Healthcare PA (1) (*) U.S. Healthcare 100% Holding Company for Real
Properties, Inc. Financial Services, Estate
Inc.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Inteli-Health, Inc. DE (1) (*) U.S. Healthcare 98% Software Development
Financial Services,
Inc.
- ---------------------------------------------------------------------------------------------------------------------
USHC Management DE (1) (*) U.S. Healthcare 100% Management and Financial
Services Corporation Financial Services, Services to Network
Inc. Providers
- ---------------------------------------------------------------------------------------------------------------------
U.S. Healthcare DE (1) (*) Advent Investments, 100% Holding Company
Advantage, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Wissahickon Payment DE (1) (*) Advent Investments, 100% Third Party Administrator
Administrators, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Advent Financial DE (1) (*) U.S. Healthcare 100% Holding Company
Services, Inc. Advantage, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Corporate Health PA (1) (*) Advent Financial 100% Third Party Administrator
Administrators, Inc. Services, Inc. for Self-Insured Plans
- ---------------------------------------------------------------------------------------------------------------------
Managed Care DE (1) (*) Advent Financial 100% Evaluation and
Coordinators, Inc. Services, Inc. Administration of Multiple
Health Plans
- ---------------------------------------------------------------------------------------------------------------------
U.S. Phoenix Corporation PA (1) (*) Advent Financial 100% Shell
Services, Inc.
- ---------------------------------------------------------------------------------------------------------------------
U.S. Quality PA (1) (*) Advent Financial 100% Services to Analyze the
Algorithms, Inc. Services, Inc. Quality and Effectiveness
of Medical Care
- ---------------------------------------------------------------------------------------------------------------------
Workers Comp Advantage, PA (1) (*) Advent Financial 100% Case Management and other
Inc. Services, Inc. Medical Management Services
for Employers on Costs
Related to Workers'
Compensation Claims
- ---------------------------------------------------------------------------------------------------------------------
Primary Investments, DE (1) (*) Primary Holdings, Inc. 100% Holding Company
Inc.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
United States Health PA (1) (*) Primary Investments, 100% HMO
Care Systems of Inc.
Pennsylvania, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare VA (1) (*) Primary Investments, 26%(qq) HMO
Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
U.S. Healthcare, Inc. OH (1) (*) Primary Investments, 100% HMO
Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare NC (1) (*) Primary Investments, 100% HMO
of the Carolinas, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Chickering Claims MA (1) (**) Primary Investments, 47% Third Party Claims
Administrators, Inc. Inc. Administration Business
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare GA (1) (*) Primary Investments, 63% HMO
of Georgia, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Advent HMO Corporation ND (1) (*) Primary Investments, 100% Inactive
Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare AL (1) (*) Primary Investments, 100% HMO
of Alabama, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
U.S. Health Insurance CT (1) (*) Primary Investments, 100% Accident and Health
Company Inc. Insurance Company
- ---------------------------------------------------------------------------------------------------------------------
AUSHC Inc. AL (1)(*) Primary Investments, 100% HMO
Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, MI (1) (*) Primary Investments, 100% HMO
Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, OK (1) (*) Primary Investments, 100% HMO
Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
U.S. Healthcare, Inc. MO (1) (*) Primary Investments, 100% HMO
Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare DE (1) (*) Primary Investments, 100% Holding Company
Holdings, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(qq) Aetna Health Management, Inc. owns 74% of Aetna U.S. Healthcare, Inc. (VA)
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna U.S. Healthcare WA (1) (*) Primary Investments, 100% HMO
Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, CO (1) (*) Aetna U.S. Healthcare 100% HMO
Inc. Holdings, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, OH (1) (*) Aetna Health 100% HMO
Inc. Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare CA (1) (*) Aetna Health 100% Provide Pre-Paid Dental
Dental Plan of Management, Inc. Services
California Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, FL (1) (*) Aetna Health 100% HMO
Inc. Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Informed Health, Inc. DE (1) (*) Aetna Health 100% Sponsors Health Information
Management, Inc. Service
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, TN (1) (*) Aetna Health 100% HMO
Inc. Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare GA (1) (*) Aetna Health 37%(rr) HMO
of Georgia, Inc. Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Dental Care of NJ (1) (*) Aetna Health 100% Dental Care
New Jersey, Inc. Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
AUSHC Holdings, Inc. DE (1) (*) Aetna Health 100% Holding Company
Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, VA (1) (*) Aetna Health 74%(ss) HMO
Inc. Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Health Plans of NC (1) (*) Aetna Health 100% HMO
the Carolinas, Inc. Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, AZ (1) (*) Aetna Health 100% HMO
Inc. Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(rr) Primary Investments, Inc. owns 63% of Aetna U.S. Healthcare of Georgia,
Inc.
(ss) Primary Investments, Inc. owns 26% of Aetna U.S. Healthcare, Inc. (VA)
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Dental Care of TX (1)(*) Aetna Health 100% HMO offering single health
Texas, Inc. Management, Inc. service plan - dental
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare IL (1) (*) Aetna Health 100% HMO
of Illinois, Inc. Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Dental Care of KY (1) (*) Aetna Health 100% Dental Plan Organization
Kentucky, Inc. Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Health Plans of PA (1) (*) Aetna Health 100% HMO
Central and Eastern Management, Inc.
Pennsylvania, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, TX (1) (*) Aetna Health 100% HMO
Inc. Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, LA (1) (*) Aetna Health 100% HMO
Inc. Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
MED Southwest, Inc. TX (1) (*) Aetna Health 55% Holding Company
Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Freedom Choice, Inc. PA (1)(*) Aetna Health Plans of 100% Third Party Administrator
Central and Eastern
Pennsylvania, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Government Health CA (1) (*) Aetna Health 100% Sponsors Champus Business
Plans, Inc. Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare CA (1) (*) Aetna Health 100% HMO
of California, Inc. Management, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Health Plans of NY (1) (*) AUSHC Holdings, Inc. 100% HMO
New York, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Aetna Health Plans of NJ (1) (*) AUSHC Holdings, Inc. 100% HMO
New Jersey, Inc.
- ---------------------------------------------------------------------------------------------------------------------
Southwest Physicians TX (1) (*) MED Southwest, Inc. 100% Life and Health Insurer
Life Insurance Company
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare TX (1) (*) MED Southwest, Inc. 100% HMO
of North Texas Inc.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
NYLCare Health Plans of OK (1) (*) NYLCare Health Plans, 100% Holding Company
the Southwest Inc.
(Oklahoma), Inc.
- ---------------------------------------------------------------------------------------------------------------------
Lonestar Holding Co. DE (1) (*) NYLCare Health Plans, 100% Holding Company
Inc.
- ---------------------------------------------------------------------------------------------------------------------
NYLCare of Texas, Inc. TX (1) (*) NYLCare Health Plans, 100% Management Company for PPO
Inc.
- ---------------------------------------------------------------------------------------------------------------------
NYLCare Health Plans of LA (1) (*) NYLCare Health Plans, 100% HMO
Louisiana, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
NYLCare Health Plans of PA (1) (*) NYLCare Health Plans, 100% HMO
Pennsylvania, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
One Liberty Plaza DE (1) (*) NYLCare Health Plans, 100% Special Purpose Funding
Holdings, Inc. Inc. Entity for Industrial
Development Agency
Transaction
- ---------------------------------------------------------------------------------------------------------------------
Benefit Panel Services, CA (1) (*) NYLCare Health Plans, 50% Manages HMOs
Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
NYLCare Dental Plans of TX (1) (*) NYLCare Health Plans, 100% Dental HMO
the Southwest, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Sanus Preferred IL (1) (*) NYLCare Health Plans, 100% PPO
Services of Illinois, Inc.
Inc.
- ---------------------------------------------------------------------------------------------------------------------
Sanus Preferred CA (1) (*) NYLCare Health Plans, 100% PPO
Providers West, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Sanus Northeast, Inc. DE (1) (*) NYLCare Health Plans, 100% Management Company
Inc.
- ---------------------------------------------------------------------------------------------------------------------
NYLCare Health Plans of TX (1) (*) NYLCare Health Plans, 100% HMO
the Southwest, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
NYLCare Health Plans of IL (1) (*) NYLCare Health Plans, 100% HMO
the Midwest, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
NYLCare of New England, DE (1) (*) NYLCare Health Plans, 100% Management Company
Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
NYLCare Health Plans of NY (1) (*) NYLCare Health Plans, 100% HMO
New York, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
NYLCare Health Plans of NJ (1) (*) NYLCare Health Plans, 100% HMO
New Jersey, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
NYLCare Health Plans of CT (1) (*) NYLCare Health Plans, 100% HMO
Connecticut, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
NYLCare of Connecticut, CT (1) (*) NYLCare Health Plans, 100% PPO
Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
NYLCare Preferred MD (1) (*) NYLCare Health Plans, 100% PPO
Services, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Sanus of New York and NY (1) (*) NYLCare Health Plans, 100% PPO
New Jersey, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Sanus Dental Plan of NJ (1) (*) NYLCare Health Plans, 100% Dental HMO
N.J., Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
The Ethix Corporation DE (1) (*) NYLCare Health Plans, 100% Holding Company of PPO
Inc. Network
- ---------------------------------------------------------------------------------------------------------------------
NYLCare Health Plans of ME (1) (*) NYLCare Health Plans, 100% HMO
Maine, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
New York Life and DE (1) (*) NYLCare Health Plans, 100% Reinsurance
Health Insurance Company Inc.
- ---------------------------------------------------------------------------------------------------------------------
NYLCare Health Plans of MD (1) (*) NYLCare Health Plans, 80%(tt) HMO
the Mid-Atlantic, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Physicians Health MD (1) (*) NYLCare Health Plans 100% Physicians Independent
Services, Foundation, of the Mid-Atlantic, Practice Association
Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(tt) Physicians Health Services Foundation, Inc. owns 20% of this company.
<PAGE>
<TABLE>
<CAPTION>
COMPANY ORGANIZATION LIST
- ---------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Lone star Health Plan, TX (1) (*) Lonestar Holding Co. 90%(uu) Holding Company
Inc.
- ---------------------------------------------------------------------------------------------------------------------
NYLCare Passport PPO of TX (1) (*) NYLCare of Texas, Inc. 100% PPO
the Southwest, Inc.
- ---------------------------------------------------------------------------------------------------------------------
BPS Health Plan CA (1) (*) Benefit Panel 100% Third Party Administrator
Administrators Services, Inc.
- ---------------------------------------------------------------------------------------------------------------------
VivaHealth, Incorporated CA (1) (*) Benefit Panel 100% HMO
Services, Inc.
- ---------------------------------------------------------------------------------------------------------------------
NYLCare Health Plans of TX (1) (*) Lonestar Health Plan, 100% HMO
the Gulf Coast, Inc. Inc.
- ---------------------------------------------------------------------------------------------------------------------
Ethix Northwest, Inc. WA (1) (*) The Ethix Corporation 100% PPO
- ---------------------------------------------------------------------------------------------------------------------
Ethix Northwest Public WA (1) (*) The Ethix Corporation 100% Managed Care Services to
Services, Inc. Medicaid Recipients
- ---------------------------------------------------------------------------------------------------------------------
Ethix Pacific, Inc. OR (1) (*) The Ethix Corporation 100% PPO
- ---------------------------------------------------------------------------------------------------------------------
Ethix Risk Management, OR (1) (*) The Ethix Corporation 100% Inactive Shell Corporation
Inc.
- ---------------------------------------------------------------------------------------------------------------------
Ethix Midlands, Inc. DE (1) (*) The Ethix Corporation 100% PPO
- ---------------------------------------------------------------------------------------------------------------------
Ethix Great Lakes, Inc. MI (1) (*) The Ethix Corporation 100% PPO
- ---------------------------------------------------------------------------------------------------------------------
Ethix Mid-Rivers, Inc. MO (1) (*) The Ethix Corporation 100% PPO
- ---------------------------------------------------------------------------------------------------------------------
Ethix Mid-Atlantic, Inc. PA (1) (*) The Ethix Corporation 100% PPO
- ---------------------------------------------------------------------------------------------------------------------
Ethix Southwest, Inc. TX (1) (*) The Ethix Corporation 100% PPO
- ---------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare WA (1) (*) Ethix Northwest, Inc. 100% HMO
of Washington, Inc.
- ---------------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(uu) NYLCare Health Plans, Inc. owns 10% of this company.
<PAGE>
Item 27. Number of Contract Owners
- ----------------------------------
As of November 30, 1998, there were 73,732 individuals holding interests in
variable annuity contracts funded through Variable Annuity Account B.
Item 28. Indemnification
- ------------------------
Section 21 of Public Act No. 97-246 of the Connecticut General Assembly (the
"Act") provides that a corporation may provide indemnification of or advance
expenses to a director, officer, employee or agent only as permitted by Sections
33-770 to 33-778, inclusive, of the Connecticut General Statutes, as amended by
Sections 12 to 20, inclusive, of this Act. Reference is hereby made to Section
33-771(e) of the Connecticut General Statutes ("CGS") regarding indemnification
of directors and Section 33-776(d) of CGS regarding indemnification of officers,
<PAGE>
employees and agents of Connecticut corporations. These statutes provide in
general that Connecticut corporations incorporated prior to January 1, 1997
shall, except to the extent that their certificate of incorporation expressly
provides otherwise, indemnify their directors, officers, employees and agents
against "liability" (defined as the obligation to pay a judgment, settlement,
penalty, fine, including an excise tax assessed with respect to an employee
benefit plan, or reasonable expenses incurred with respect to a proceeding) when
(1) a determination is made pursuant to Section 33-775 that the party seeking
indemnification has met the standard of conduct set forth in Section 33-771 or
(2) a court has determined that indemnification is appropriate pursuant to
Section 33-774. Under Section 33-775, the determination of and the authorization
for indemnification are made (a) by the disinterested directors, as defined in
Section 33-770(3); (b) by special counsel; (c) by the shareholders; or (d) in
the case of indemnification of an officer, agent or employee of the corporation,
by the general counsel of the corporation or such other officer(s) as the board
of directors may specify. Also, Section 33-772 provides that a corporation shall
indemnify an individual who was wholly successful on the merits or otherwise
against reasonable expenses incurred by him in connection with a proceeding to
which he was a party because he was a director, officer, employee or agent of
the corporation. In the case of a proceeding by or in the right of the
corporation or with respect to conduct for which the director, officer, agent or
employee was adjudged liable on the basis that he received a financial benefit
to which he was not entitled, indemnification is limited to reasonable expenses
incurred in connection with the proceeding against the corporation to which the
individual was named a party.
The statute does specifically authorize a corporation to procure indemnification
insurance on behalf of an individual who was a director, officer, employer or
agent of the corporation. Consistent with the statute, Aetna Inc. has procured
insurance from Lloyd's of London and several major United States excess insurers
for its directors and officers and the directors and officers of its
subsidiaries, including the Depositor.
Item 29. Principal Underwriter
- ------------------------------
(a) In addition to serving as the principal underwriter and depositor for
the Registrant, Aetna Life Insurance and Annuity Company (Aetna) also
acts as the principal underwriter, only, for Aetna Variable Encore
Fund, Aetna Variable Fund, Aetna Generation Portfolios, Inc., Aetna
Income Shares, Aetna Balanced VP, Inc. (formerly Aetna Investment
Advisers Fund, Inc.), Aetna GET Fund, and Aetna Variable Portfolios,
Inc. and as the principal underwriter and investment adviser for
Portfolio Partners, Inc. (all management investment companies
registered under the Investment Company Act of 1940 (1940 Act)).
Additionally, Aetna acts as the principal underwriter and depositor for
Variable Life Account B of Aetna, Variable Annuity Account C of Aetna
and Variable Annuity Account G of Aetna (separate accounts of Aetna
registered as unit investment trusts under the 1940 Act). Aetna is also
the principal underwriter for Variable Annuity Account I of Aetna
Insurance Company of America (AICA) (a separate account of AICA
registered as a unit investment trust under the 1940 Act).
(b) See Item 25 regarding the Depositor.
<PAGE>
(c) Compensation as of December 31, 1997:
<TABLE>
<CAPTION>
(1) (2) (3) (4) (5)
Name of Net Underwriting Compensation
Principal Discounts and on Redemption Brokerage
Underwriter Commissions or Annuitization Commissions Compensation*
- ----------- ----------- ---------------- ----------- -------------
<S> <C> <C> <C> <C>
Aetna Life Insurance $347,583 $29,637,063
and Annuity Company
</TABLE>
* Compensation shown in column 5 includes deductions for mortality and
expense risk guarantees and contract charges assessed to cover costs
incurred in the sales and administration of the contracts issued under
Variable Annuity Account B.
Item 30. Location of Accounts and Records
- -----------------------------------------
All accounts, books and other documents required to be maintained by
Section 31(a) of the 1940 Act and the rules under it relating to the securities
described in and issued under this Registration Statement are located at the
home office of the Depositor as follows:
Aetna Life Insurance and Annuity Company
151 Farmington Avenue
Hartford, Connecticut 06156
Item 31. Management Services
- ----------------------------
Not applicable
Item 32. Undertakings
- ---------------------
Registrant hereby undertakes:
(a) to file a post-effective amendment to this registration statement on
Form N-4 as frequently as is necessary to ensure that the audited
financial statements in the registration statement are never more than
sixteen months old for as long as payments under the variable annuity
contracts may be accepted;
(b) to include as part of any application to purchase a contract offered by
a prospectus which is part of this registration statement on Form N-4,
a space that an applicant can check to request a Statement of
Additional Information; and
<PAGE>
(c) to deliver any Statement of Additional Information and any financial
statements required to be made available under this Form N-4 promptly
upon written or oral request.
(d) The Company hereby represents that it is relying upon and will comply
with the provisions of Paragraphs (1) through (4) of the SEC Staff's
No-Action Letter dated November 22, 1988 with respect to language
concerning withdrawal restrictions applicable to plans established
pursuant to Section 403(b) of the Internal Revenue Code. See American
Counsel of Life Insurance; SEC No-Action Letter, [1989 Transfer Binder]
Fed. SEC. L. Rep. (CCH) P. 78,904 at 78,523 (November 22, 1988).
(e) Insofar as indemnification for liability arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or
otherwise, the Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against
public policy as expressed in the Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities
(other than the payment by the Registrant of expenses incurred or paid
by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by
such director, officer or controlling person in connection with the
securities being registered, the Registrant will, unless in the opinion
of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question of whether
such indemnification by it is against public policy as expressed in the
Act and will be governed by the final adjudication of such issue.
(f) Aetna Life Insurance and Annuity Company represents that the fees and
charges deducted under the contracts covered by this registration
statement, in the aggregate, are reasonable in relation to the services
rendered, the expenses expected to be incurred, and the risks assumed
by the insurance company.
<PAGE>
SIGNATURES
As required by the Securities Act of 1933 and the Investment Company Act of
1940, the Registrant, Variable Annuity Account B of Aetna Life Insurance and
Annuity Company, certifies that it meets the requirements of Securities Act Rule
485(b) for effectiveness of this Post-Effective Amendment to its Registration
Statement on Form N-4 (File No. 333-56297 ) and has duly caused this
Post-Effective Amendment to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Hartford, State of Connecticut, on the
14th day of December, 1998.
VARIABLE ANNUITY ACCOUNT B OF AETNA
LIFE INSURANCE AND ANNUITY COMPANY
(Registrant)
By: AETNA LIFE INSURANCE AND ANNUITY
COMPANY
(Depositor)
By: Thomas J. McInerney*
-----------------------------------
Thomas J. McInerney
President
As required by the Securities Act of 1933, this Post-Effective Amendment
No. 2 to the Registration Statement on Form N-4 (File No. 333-56297 ) has been
signed by the following persons in the capacities and on the dates indicated.
<TABLE>
<CAPTION>
Signature Title Date
- --------- ----- ----
<S> <C> <C>
Thomas J. McInerney* Director and President )
- -------------------------------- (principal executive officer) )
Thomas J. McInerney )
)
Shaun P. Mathews* Director ) December
- -------------------------------- )
Shaun P. Mathews ) 14, 1998
)
Catherine H. Smith* Director and Chief Financial Officer )
- -------------------------------- )
Catherine H. Smith )
)
Deborah Koltenuk* Vice President, Treasurer and Corporate Controller )
- -------------------------------- )
Deborah Koltenuk )
</TABLE>
By: /s/ J. Neil McMurdie
------------------------------------------------
J. Neil McMurdie
*Attorney-in-Fact
<PAGE>
VARIABLE ANNUITY ACCOUNT B
Exhibit Index
<TABLE>
<CAPTION>
Exhibit No. Exhibit Page
- ----------- ------- ----
<S> <C> <C>
99-B.1 Resolution of the Board of Directors of Aetna Life Insurance *
and Annuity Company establishing Variable Annuity Account B
99-B.3.1 Broker-Dealer Agreement *
99-B.3.2 Alternative Form of Wholesaling Agreement and Related Selling *
Agreement
99-B.4.1 Variable Annuity Contract (GM-VA-98) *
99-B.4.2 Variable Annuity Contract Certificate (GMC-VA-98) *
99-B.4.3 Endorsement (EVAGET98) to Variable Annuity Contract GM-VA-98 *
and Variable Annuity Contract Certificate GMC-VA-98
99-B.5 Variable Annuity Contract Application (9.5.89-6(9/98)) *
99-B.6.1 Certificate of Incorporation of Aetna Life Insurance and *
Annuity Company
99-B.6.2 Amendment of Certificate of Incorporation of Aetna Life *
Insurance and Annuity Company
9-B.6.3 By-Laws as amended September 17, 1997 of Aetna Life Insurance *
and Annuity Company
99-B.8.1 Fund Participation Agreement between Aetna Life Insurance and *
Annuity Company and AIM dated June 30, 1998
99-B.8.2 Service Agreement between Aetna Life Insurance and Annuity *
Company and AIM effective June 30, 1998
99-B.8.3 Fund Participation Agreement by and among Aetna Life *
Insurance and Annuity Company and Aetna Variable Fund, Aetna
Variable Encore Fund, Aetna Income Shares, Aetna Balanced VP,
Inc., Aetna GET Fund on behalf of each of its series, Aetna
Generation Portfolios, Inc. on behalf of each of its series,
Aetna Variable Portfolios, Inc. on behalf of each of its
series, and Aeltus Investment Management, Inc. dated as of
May 1, 1998
</TABLE>
*Incorporated by reference
<PAGE>
<TABLE>
<CAPTION>
Exhibit No. Exhibit Page
- ----------- ------- ----
<S> <C> <C>
99-B.8.4 Amendment dated November 9, 1998 to Fund Participation
Agreement by and among Aetna Life Insurance and Annuity
Company and Aetna Variable Fund, Aetna Variable Encore Fund,
Aetna Income Shares, Aetna Balanced VP, Inc., Aetna GET Fund
on behalf of each of its series, Aetna Generation Portfolios,
Inc. on behalf of each of its series, Aetna Variable
Portfolios, Inc. on behalf of each of its series, and Aeltus
Investment Management, Inc. dated as of May 1, 1998 ____
99-B.8.5 Service Agreement between Aeltus Investment Management, Inc. *
and Aetna Life Insurance and Annuity Company in connection
with the sale of shares of Aetna Variable Fund, Aetna
Variable Encore Fund, Aetna Income Shares, Aetna Balanced VP,
Inc., Aetna GET Fund on behalf of each of its series, Aetna
Generation Portfolios, Inc. on behalf of each of its series,
and Aetna Variable Portfolios, Inc. on behalf of each of its
series dated as of May 1, 1998
99-B.8.6 Amendment dated November 4, 1998 to Service Agreement between
Aeltus Investment Management, Inc. and Aetna Life Insurance
and Annuity Company in connection with the sale of shares of
Aetna Variable Fund, Aetna Variable Encore Fund, Aetna Income
Shares, Aetna Balanced VP, Inc., Aetna GET Fund on behalf of
each of its series, Aetna Generation Portfolios, Inc. on
behalf of each of its series and Aetna Variable Portfolios,
Inc. on behalf of each of its series dated as of May 1, 1998 ____
99-B.8.7 Fund Participation Agreement between Aetna Life Insurance and *
Annuity Company, Variable Insurance Products Fund and
Fidelity Distributors Corporation dated February 1, 1994 and
amended on December 15, 1994, February 1, 1995, May 1, 1995,
January 1, 1996 and March 1, 1996
99-B.8.8 Fifth Amendment dated as of May 1, 1997 to the Fund *
Participation Agreement between Aetna Life Insurance and
Annuity Company, Variable Insurance Products Fund and
Fidelity Distributors Corporation dated February 1, 1994 and
amended on December 15, 1994, February 1, 1995, May 1, 1995,
January 1, 1996 and March 1, 1996
</TABLE>
*Incorporated by reference
<PAGE>
<TABLE>
<CAPTION>
Exhibit No. Exhibit Page
- ----------- ------- ----
<S> <C> <C>
99-B.8.9 Sixth Amendment dated November 6, 1997 to the Fund *
Participation Agreement between Aetna Life Insurance and
Annuity Company, Variable Insurance Products Fund and
Fidelity Distributors Corporation dated February 1, 1994 and
amended on December 15, 1994, February 1, 1995, May 1, 1995,
January 1, 1996, March 1, 1996 and May 1, 1997
99-B.8.10 Seventh Amendment dated as of May 1, 1998 to the Fund *
Participation Agreement between Aetna Life Insurance and
Annuity Company, Variable Insurance Products Fund and
Fidelity Distributors Corporation dated February 1, 1994 and
amended on December 15, 1994, February 1, 1995, May 1, 1995,
January 1, 1996, March 1, 1996, May 1, 1997 and November 6,
1997
99-B.8.11 Fund Participation Agreement between Aetna Life Insurance and *
Annuity Company, Variable Insurance Products Fund II and
Fidelity Distributors Corporation dated February 1, 1994 and
amended on December 15, 1994, February 1, 1995, May 1, 1995,
January 1, 1996, and March 1, 1996
99-B.8.12 Fifth Amendment, dated as of May 1, 1997, to the Fund *
Participation Agreement between Aetna Life Insurance and
Annuity Company, Variable Insurance Products Fund II and
Fidelity Distributors Corporation dated February 1, 1994 and
amended on December 15, 1994, February 1, 1995, May 1, 1995,
January 1, 1996, and March 1, 1996
99.B-8.13 Sixth Amendment dated as of January 20, 1998 to the Fund *
Participation Agreement between Aetna Life Insurance and
Annuity Company, Variable Insurance Products Fund II and
Fidelity Distributors Corporation dated February 1, 1994 and
amended on December 15, 1994, February 1, 1995, May 1, 1995,
January 1, 1996, March 1, 1996 and May 1, 1997
99-B.8.14 Seventh Amendment dated as of May 1, 1998 to the Fund *
Participation Agreement between Aetna Life Insurance and
Annuity Company, Variable Insurance Products Fund II and
Fidelity Distributors Corporation dated February 1, 1994 and
amended on December 15, 1994, February 1, 1995, May 1, 1995,
January 1, 1996, March 1, 1996, May 1, 1997 and January 20,
1998
</TABLE>
*Incorporated by reference
<PAGE>
<TABLE>
<CAPTION>
Exhibit No. Exhibit Page
- ----------- ------- ----
<S> <C> <C>
99-B.8.15 Service Agreement between Aetna Life Insurance and Annuity *
Company and Fidelity Investments Institutional Operations
Company dated as of November 1, 1995
99-B.8.16 Amendment dated January 1, 1997 to Service Agreement between *
Aetna Life Insurance and Annuity Company and Fidelity
Investments Institutional Operations Company dated as of
November 1, 1995
99-B.8.17 Service Contract between Fidelity Distributors Corporation
and Aetna Life Insurance and Annuity Company dated May 2,
1997 ____
99-B.8.18 Fund Participation Agreement among Janus Aspen Series and *
Aetna Life Insurance and Annuity Company and Janus Capital
Corporation dated December 8, 1997
99-B.8.19 Amendment dated October 12, 1998 to Fund Participation
Agreement among Janus Aspen Series and Aetna Life Insurance
and Annuity Company and Janus Capital Corporation dated
December 8, 1997 ____
99-B.8.20 Service Agreement between Janus Capital Corporation and Aetna *
Life Insurance and Annuity Company dated December 8, 1997
99-B.8.21 Fund Participation Agreement among MFS Variable Insurance *
Trust, Aetna Life Insurance and Annuity Company and
Massachusetts Financial Services Company dated April 30,
1996, and amended on September 3, 1996, March 14, 1997 and
November 28, 1997
99-B.8.22 Fourth Amendment dated May 1, 1998 to the Fund Participation *
Agreement by and among MSF Variable Insurance Trust, Aetna
Life Insurance and Annuity Company and Massachusetts
Financial Services Company dated April 30, 1996, and amended
on September 3, 1996, March 14, 1997 and November 28, 1997
99-B.8.23 Form of Fifth Amendment to Fund Participation Agreement by
and among MSF Variable Insurance Trust, Aetna Life Insurance
and Annuity Company and Massachusetts Financial Services
Company dated April 30, 1996, and amended on September 3,
1996, March 14, 1997 and November 28, 1997 ____
</TABLE>
*Incorporated by reference
<PAGE>
<TABLE>
<CAPTION>
Exhibit No. Exhibit Page
- ----------- ------- ----
<S> <C> <C>
99-B.8.24 Fund Participation Agreement dated March 11, 1997 between *
Aetna Life Insurance and Annuity Company and Oppenheimer
Variable Annuity Account Funds and Oppenheimer Funds, Inc.
99-B.8.25 Service Agreement effective as of March 11, 1997 between *
Oppenheimer Funds, Inc. and Aetna Life Insurance and Annuity
Company
99-B.9 Opinion and Consent of Counsel ____
99-B.10 Consent of Independent Auditors ____
99-B.13 Schedule for Computation of Performance Data *
99-B.15.1 Powers of Attorney *
99-B.15.2 Authorization for Signatures *
</TABLE>
*Incorporated by reference
EX-99-B.8.4
Amendment
to
Fund Participation Agreement
WITNESSETH:
WHEREAS, Aetna Life Insurance and Annuity Company ("ALIAC"), Aeltus
Investment Management, Inc. ("Aeltus"), and Aetna Variable Fund, Aetna Variable
Encore Fund, Aetna Income Shares, Aetna Balanced VP, Inc., Aetna GET Fund, on
behalf of each of its series, Aetna Generation Portfolios, Inc., on behalf of
each of its series, and Aetna Variable Portfolios, Inc., on behalf of each of
its series ("Funds") have entered into a Fund Participation Agreement dated May
1, 1998; and
WHEREAS, ALIAC, Aeltus and the Funds desire to include Aetna GET Fund,
Series D, in Schedule B;
NOW, THEREFORE, it is agreed among ALIAC, Aeltus and the Funds that
Schedule B is hereby amended to include Aetna GET Fund, Series D, effective
October 15, 1998.
IN WITNESS WHEREOF, the undersigned have executed this Agreement by
their duly authorized officers as of 9th day of November, 1998.
AETNA LIFE INSURANCE AND ANNUITY COMPANY
By /s/ Deborah Koltenuk
---------------------
Name Deborah Koltenuk
Title Vice President and Treasurer
Corporate Controller
AELTUS INVESTMENT MANAGEMENT, INC.
By /s/ J. Scott Fox
----------------
Name J. Scott Fox
Title Managing Director & COO
<PAGE>
AETNA VARIABLE FUND
AETNA VARIABLE ENCORE FUND
AETNA INCOME SHARES
AETNA BALANCED VP, INC.
AETNA GET FUND
AETNA GENERATION PORTFOLIOS, INC.
AETNA VARIABLE PORTFOLIOS, INC.
By /s/ Frank Litwin
----------------
Name Frank Litwin
Title Managing Director
EX-99-B.8.6
Amendment
to
Service Agreement with Investment Adviser
WITNESSETH:
WHEREAS, in consideration of the agreement, effective as of May 1, 1998, between
Aeltus Investment Management, Inc. (the "Adviser") and Aetna Life Insurance and
Annuity Company (the "Company"), for the provision of administrative services by
the Company in connection with the sale of shares of Aetna GET Fund, on behalf
of each of its series, the Adviser and the Company desire to amend Schedule A to
include Aetna GET Fund, Series D;
NOW THEREFORE, the Adviser and the Company hereby agree to amend Schedule A to
include Aetna GET Fund, Series D, effective October 15, 1998.
IN WITNESS WHEREOF, the parties to this Agreement have caused this Agreement to
be executed by their authorized officers as of the 4th day of November, 1998.
AELTUS INVESTMENT MANAGEMENT, INC.
By: /s/ J. Scott Fox
----------------
J. Scott Fox
AETNA LIFE INSURANCE AND ANNUITY COMPANY
By: /s/ Deborah Koltenuk
--------------------
Deborah Koltenuk
EX-99-B.8.17
SERVICE CONTRACT
With respect to shares of:
( ) Variable Insurance Products Fund - High Income Portfolio
( ) Variable Insurance Products Fund - Equity-Income Portfolio
( ) Variable Insurance Products Fund - Growth Portfolio
( ) Variable Insurance Products Fund - Overseas Portfolio
( ) Variable Insurance Products Fund II - Investment Grade Bond Portfolio
( ) Variable Insurance Products Fund II - Asset Manager Portfolio
( ) Variable Insurance Products Fund II - Contrafund Portfolio
( ) Variable Insurance Products Fund II - Asset Manager: Growth Portfolio
( ) Variable Insurance Products Fund III - Growth Opportunities Portfolio
( ) Variable Insurance Products Fund III - Balanced Portfolio
( ) Variable Insurance Products Fund III - Growth & Income Portfolio
To Fidelity Distributors Corporation:
We desire to enter into a Contract with you for activities in connection with
the distribution of shares and the servicing of shareholders of the Fund noted
above (the "Fund") of which you are the principal underwriter as defined in the
Investment Company Act of 1940 (the "Act") and for which you are the agent for
the continuous distribution of shares.
The terms and conditions of this Contract are as follows:
1. We shall provide distribution and certain shareholder services for our
clients who own Fund shares ("clients"), which services may include, without
limitation: sale of shares of the Fund; answering client inquiries regarding the
Fund; assistance to clients in changing dividend options, account designations
and addresses; performance of subaccounting; processing purchase and redemption
transactions, including automatic investment and redemption of client account
cash balances; providing periodic statements showing a client's account balance
and the integration of such statements with other transactions; arranging for
bank wires; and providing such other information and services as you reasonably
may request.
2. We shall provide such office space and equipment, telephone facilities and
personnel (which may be all or any part of the space, equipment and facilities
currently used in our business, or all or any personnel employed by us) as is
necessary or beneficial for providing information and services to shareholders
of the Fund, and to assist you in servicing accounts of clients.
3. We agree to indemnify and hold you, the Fund, and the Fund's adviser and
transfer agent harmless from any and all direct or indirect liabilities or
losses resulting from requests, directions, actions or inactions, of or by us or
our officers, employees or agents regarding the purchase, redemption, transfer
or registration of shares for our clients. Such indemnification shall survive
the termination of this Contract.
Neither we nor any of our officers, employees or agents are authorized to
make any representation concerning Fund shares except those contained in the
then current Fund Prospectus, copies of which will be supplied by you to us; and
we shall have no authority to act as agent for the Fund or for you.
4. In consideration of the services and facilities described herein, we shall be
entitled to receive, and you shall cause to be paid to us by yourself or by
Fidelity Management & Research Company, investment adviser of the
<PAGE>
Fund, such fees as are set forth in the accompanying "Fee Schedule for Qualified
Recipients." We understand that the payment of such fees has been authorized
pursuant to a Service Plan approved by the Board of Trustees of the Fund, and
those Trustees who are not "interested persons" of the Fund (as defined in the
Act) and who have no direct or indirect financial interest in the operation of
the Service Plan or in any agreements related to the Service Plan (hereinafter
referred to as "Qualified Trustees"), and shareholders of the Fund, that such
fees will be paid out of the fees paid to the Fund's investment adviser, said
adviser's past profits or any other source available to said adviser; that the
cost to the Fund for such fees shall not exceed the amount of the advisory and
service fee; and that such fees are subject to change during the term of this
Contract and shall be paid only so long as this Contract is in effect.
5. We agree to conduct our activities in accordance with any applicable federal
or state laws, including securities laws and any obligation thereunder to
disclose to our clients the receipt of fees in connection with their investment
in the Fund.
6. You reserve the right, at your discretion and without notice, to suspend the
sale of shares or withdraw the sale of shares of the Fund.
7. This Contract shall continue in force for one year from the effective date
(see below), and thereafter shall continue automatically for successive annual
periods, provided such continuance is specifically subject to termination
without penalty at any time if a majority of the Fund's Qualified Trustees vote
to terminate or not to continue the Service Plan. This Contract is also
terminable without penalty at any time the Service Plan is terminated by vote of
a majority of the Fund's outstanding voting securities upon 60 days' written
notice thereof to us. This Contract may also be terminated by us, for any
reason, upon 15 days' written notice to you. Notwithstanding anything contained
herein, in the event that the Service Plan shall terminate or we shall fail to
perform the distribution and shareholder servicing functions contemplated by
this Contract, such determination to be made in good faith by the Fund or you,
this Contract is terminable effective upon receipt of notice thereof by us. This
Contract will also terminate automatically in the event of its assignment (as
defined in the Act.)
8. All communications to you shall be sent to you at your offices, 82 Devonshire
Street, Boston, MA 02109. Any notice to us shall be duly given if mailed or
telegraphed to use at the address shown in this Contract.
9. This Contract shall be construed in accordance with the laws of the
Commonwealth of Massachusetts.
Very truly yours,
Aetna Life Insurance and Annuity Company
- --------------------------------------------------------------------------------
Name of Qualified Recipient (Please Print or Type)
151 Farmington Avenue Hartford CT 06156
- --------------------------------------------------------------------------------
Street City State Zip Code
By: /s/ Laura R. Estes
-------------------------------------------------------------------
Authorized Signature
Date: May 2, 1997
-----------------------------
NOTE: Please return two signed copies of this Service Contract to Fidelity
Distributors Corporation. Upon acceptance, one countersigned copy will be
returned to you.
For Internal Use Only: FIDELITY DISTRIBUTORS CORPORATION
Effective date: January 1, 1997
/s/ Arthur S. Loring
---------------------------------
Arthur S. Loring
EX-99-B.8.19
AMENDMENT TO FUND PARTICIPATION AGREEMENT
This Amendment is made as of October 12, 1998, by and among JANUS ASPEN
SERIES (the "Fund"), AETNA LIFE INSURANCE AND ANNUITY COMPANY (the "Company")
and JANUS CAPITAL CORPORATION (the "Adviser").
BACKGROUND
A. The Fund, the Company and the Adviser are parties to a Fund
Participation Agreement dated December 8, 1997 (the "Agreement").
B. The parties wish to amend the Agreement as follows:
AMENDMENT
For good and valuable consideration, the receipt of which is
acknowledged, the parties agree:
1. That the first paragraph of 1. (a) Establishment of Accounts;
Availability of Fund. shall be deleted in its entirety and replaced with the
following:
The Company represents that it has established Variable Annuity
Accounts B, C and D and Variable Life Account B and may establish such
other accounts as may be set forth in Schedule A attached hereto and
as may be amended from time to time with the mutual consent of the
parties hereto (the "Accounts"), each of which is a separate account
under Connecticut Insurance law, and (1) has been registered or, will
be registered as a unit investment trust in accordance with the
provisions of the Investment Company Act of 1940 (the "1940 Act") or,
alternatively (2) has not been registered in proper reliance upon the
exclusion from registration under Section 3(c)(11) of the 1940 Act, to
serve as an investment vehicle for the Contracts. Each Contract
provides for the allocation of net amounts received by the Company to
an Account for investment in the shares of one or more specified
open-end management investment companies available through that
Account as underlying investment media. Selection of a particular
investment management company and changes therein from time to time
are made by the participant or Contract owner (hereinafter
"Participant" or "Contract Owner"), as available under a particular
Contract.
<PAGE>
2. The Agreement, as modified by this Amendment, is ratified and
confirmed.
AETNA LIFE INSURANCE AND JANUS ASPEN SERIES
ANNUITY COMPANY
By: /s/ Laurie M. LeBlanc By: /s/ Bonnie Howe
--------------------------- -----------------------------
Name: Laurie M. LeBlanc Bonnie M. Howe
Title: Vice President Assistant Vice President
JANUS CAPITAL CORPORATION
By: /s/ Bonnie Howe
-----------------------------
Bonnie M. Howe
Assistant Vice President
EX-99-B.8.23
FORM OF
FIFTH AMENDMENT TO
PARTICIPATION AGREEMENT
THIS FIFTH AMENDMENT TO THE PARTICIPATION AGREEMENT ("Fifth Amendment")
is made and entered into as of the 1st day of May 1998, by and among MFS
VARIABLE INSURANCE TRUST, a Massachusetts business trust (the "Trust"), AETNA
LIFE INSURANCE AND ANNUITY COMPANY, a Connecticut corporation (the "Company") on
its own behalf and on behalf of each of the segregated asset accounts of the
Company set forth in Schedule A of the Original Agreement (hereinafter defined)
(the "Accounts") and MASSACHUSETTS FINANCIAL SERVICES COMPANY, a Delaware
corporation ("MFS").
WITNESSETH
WHEREAS the Trust, the Company and MFS are parties to a Participation
Agreement dated April 30, 1996, as supplemented by First Amendment to
Participation Agreement dated September 3, 1996, Second Amendment to
Participation Agreement dated March 14, 1997, Third Amendment to Participation
Agreement dated November 28, 1997, and Fourth Amendment to Participation
Agreement dated as of May 1, 1998 (collectively the "Original Agreement"); and
WHEREAS the Trust, the Company and MFS now desire to modify the Original
Agreement.
NOW THEREFORE, in consideration of the premises and the mutual covenants
and promises expressed herein, the parties agree as follows:
1. Schedule A of the Original Agreement is hereby deleted and replaced with
Schedule A attached hereto;
2. The Original Agreement, as supplemented by this Fifth Amendment, is ratified
and confirmed; and
3. This Fifth Amendment may be executed in two or more counterparts, which
together shall constitute one instrument.
IN WITNESS WHEREOF, the parties have executed this Fifth Amendment as of
the date first above written.
<TABLE>
<CAPTION>
AETNA LIFE INSURANCE AND ANNUITY COMPANY MFS VARIABLE INSURANCE TRUST
By its authorized officer, on behalf of the Portfolios. By its authorized
officer and not individually,
<S> <C>
By: _______________________________ By: _______________________________
Name: Laurie M. LeBlanc Name: _____________________________
Title: Vice President Title: ____________________________
MASSACHUSETTS FINANCIAL SERVICES COMPANY
By its authorized officer,
By: _______________________________
Name: _____________________________
Title: ____________________________
</TABLE>
<PAGE>
SCHEDULE A
ACCOUNTS, POLICIES AND PORTFOLIOS
SUBJECT TO THE PARTICIPATION AGREEMENT
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------------------
Name of Separate Account and Date Established Policies Funded by Separate Portfolios Applicable to Policies
by Board of Directors Account
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
Variable Annuity Account B Variable Annuity World Governments Series
(Est. October 18, 1976) Total Return Series
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
Variable Annuity Account C Variable Annuity World Governments Series
(Est. October 18, 1976) Total Return Series
- ----------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------
Variable Life Account B Variable Life World Governments Series
(Est. June 18, 1986) Total Return Series
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
EX-99-B.9
[AETNA LOGO] 151 Farmington Avenue
[AETNA LETTERHEAD] Hartford, CT 06156
Julie E. Rockmore
Counsel
Law Division, RE4A
December 14, 1998 Investments & Financial Services
(860) 273-4686
Fax: (860) 273-8340
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Attention: Filing Desk
Re: Variable Annuity Account B of Aetna Life Insurance and Annuity Company
Post-Effective Amendment No. 2 to Registration Statement on Form N-4
Prospectus Title: Aetna Variable Annuity
File Nos.: 333-56297 and 811-02512
Gentlemen:
The undersigned serves as counsel to Aetna Life Insurance and Annuity Company, a
Connecticut life insurance company (the "Company"). It is my understanding that
the Company, as depositor, has registered an indefinite amount of securities
(the "Securities") under the Securities Act of 1933 (the "Securities Act") as
provided in Rule 24f-2 under the Investment Company Act of 1940 (the "Investment
Company Act").
In connection with this opinion, I or those for whom I have supervisory
responsibility, have reviewed the N-4 Registration Statement, as amended to the
date hereof, and this Post-Effective Amendment No. 2. I have also examined
originals or copies, certified or otherwise identified to my satisfaction, of
such documents, trust records and other instruments I have deemed necessary or
appropriate for the purpose of rendering this opinion. For purposes of such
examination, I have assumed the genuineness of all signatures on original
documents and the conformity to the original of all copies.
I am admitted to practice law in Connecticut, and do not purport to be an expert
on the laws of any other state. My opinion herein as to any other law is based
upon a limited inquiry thereof which I have deemed appropriate under the
circumstances.
Based upon the foregoing, and, assuming the Securities are sold in accordance
with the provisions of the prospectus, I am of the opinion that the Securities
being registered will be legally issued and will represent binding obligations
of the Company.
<PAGE>
I consent to the filing of this opinion as an exhibit to the Registration
Statement.
Sincerely,
/s/ Julie E. Rockmore
- ---------------------
Julie E. Rockmore
Counsel
EX-99-B.10
Consent of Independent Auditors
The Board of Directors of Aetna Life Insurance and Annuity Company and
Contractholders of Aetna Variable Annuity Account B:
We consent to the incorporation by reference into this Registration Statement
(File No. 333-56297) on Form N-4 our reports dated February 3, 1998 and February
27, 1998.
/s/ KPMG Peat Marwick LLP
Hartford, Connecticut
December 14, 1998
