Supplement Dated May 1, 1998 to
Prospectus Dated May 1, 1998
Aetna Life Insurance and Annuity Company
Variable Annuity Account B
Aetna Marathon Plus
The Prospectus dated May 1, 1998 is amended as follows:
[bullet] The following replaces the information found under the sections
entitled "Risks Associated with Investment in the Funds" and "Conflicts
of Interest (Mixed and Shared Funding)" on page 2 of the Prospectus:
Risks Associated with Investment in the Funds. Some of the Funds may
use instruments known as derivatives as part of their investment
strategies. The use of certain derivatives may involve high risk of
volatility to a Fund, and the use of leverage in connection with such
derivatives can also increase risk of losses. Some of the Funds may
also invest in foreign or international securities which involve
greater risks than U.S. investments.
More comprehensive information, including a discussion of potential
risks, is found in the current prospectus for each Fund. You should
read the Fund prospectuses and consider carefully, and on a
continuing basis, which Fund or combination of Funds is best suited
to your long-term investment objectives. Additional prospectuses and
Statements of Additional Information for this Prospectus and for each
of the Funds can be obtained from the Company's Home Office at the
address and telephone number listed under the "Inquiries" section of
the Prospectus Summary.
Conflicts of Interest (Mixed and Shared Funding). Shares of the Funds
are sold to each of the Subaccounts for funding the variable annuity
contracts issued by the Company. Shares of the Funds may also be sold
to other insurance companies for the same purpose. This is referred
to as "shared funding." Shares of the Funds may also be used for
funding variable life insurance contracts issued by the Company or by
third parties. This is referred to as "mixed funding."
Because the Funds available under the Contract are sold to fund
variable annuity contracts and variable life insurance policies
issued by us or by other companies, certain conflicts of interest
could arise. If a conflict of interest were to occur, one of the
separate accounts might withdraw its investment in a Fund, which
might force that Fund to sell portfolio securities at disadvantageous
prices, causing its per share value to decrease. Each Fund's Board of
Directors or Trustees has agreed to monitor events in order to
identify any material irreconcilable conflicts which might arise and
to determine what action, if any, should be taken to address such
conflict.
X.34370-98 125
