As filed with the Securities and Exchange Registration No. 33-75962*
Commission on August 18, 2000 Registration No. 811-2513
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-4
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POST-EFFECTIVE AMENDMENT NO. 23 TO
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
and Amendment To
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
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Variable Annuity Account C of Aetna Life Insurance and Annuity Company
(Exact Name of Registrant)
Aetna Life Insurance and Annuity Company
(Name of Depositor)
151 Farmington Avenue, TS31, Hartford, Connecticut 06156
(Address of Depositor's Principal Executive Offices) (Zip Code)
Depositor's Telephone Number, including Area Code: (860) 273-4686
Julie E. Rockmore, Counsel
Aetna Life Insurance and Annuity Company
151 Farmington Avenue, TS31, Hartford, Connecticut 06156
(Name and Address of Agent for Service)
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It is proposed that this filing will become effective:
immediately upon filing pursuant to paragraph (b) of Rule 485
--------
X on September 1, 2000 pursuant to paragraph (b) of Rule 485
--------
*Pursuant to Rule 429(a) under the Securities Act of 1933, Registrant has
included a combined prospectus under this Registration Statement which includes
all the information which would currently be required in a prospectus relating
to the securities covered by the following earlier Registration Statement:
33-75978.
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CROSS REFERENCE SHEET
<TABLE>
<CAPTION>
LOCATION - PROSPECTUS DATED
FORM N-4 MAY 1, 2000, AND AS AMENDED
ITEM NO. PART A (PROSPECTUS) BY SUPPLEMENT DATED
SEPTEMBER 1, 2000
<S> <C> <C>
1 Cover Page......................................... Cover Page
2 Definitions........................................ Not Applicable
3 Synopsis........................................... Contract Overview; Fee Table, and as amended
4 Condensed Financial Information.................... Condensed Financial Information; Appendix IV -
Condensed Financial Information
5 General Description of Registrant, Depositor, and
Portfolio Companies................................ Other Topics - The Company; Variable Annuity
Account C; Appendix III - Fund Descriptions
6 Deductions and Expenses............................ Fees
7 General Description of Variable Annuity Contracts.. Contract Overview; Other Topics
8 Annuity Period..................................... The Income Phase
9 Death Benefit...................................... Death Benefit
10 Purchases and Contract Value....................... Contract Purchase and Participation; Your
Account Value
11 Redemptions........................................ Right to Cancel; Withdrawals; Systematic
Distribution Options
12 Taxes.............................................. Taxation
13 Legal Proceedings.................................. Other Topics - Legal Matters and Proceedings,
and as amended
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 ADDITIONAL INFORMATION DATED
ITEM NO. PART B (STATEMENT OF ADDITIONAL INFORMATION MAY 1, 2000
<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................................... Income Phase Payments
23 Financial Statements............................... Financial Statements of the Separate Account;
Financial Statements of Aetna Life Insurance and
Annuity Company
</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 dated May 1, 2000, is incorporated into Part A of this
Post-Effective Amendment No. 23 by reference to Registrant's filing under Rule
497(c) filed on May 2, 2000 (File No. 33-75962). The Statement of Additional
Information dated May 1, 2000 is incorporated into Part B of this Post-Effective
Amendment No. 23 by reference to Registrant's filing on Form N-4 (File No.
33-75962) as filed on April 13, 2000 and declared effective on May 1, 2000.
A Supplement to the Prospectus dated September 1, 2000, is included in Part A of
this Post-Effective Amendment.
<PAGE>
VARIABLE ANNUITY ACCOUNT C
Aetna Life Insurance and Annuity Company
Supplement dated September 1, 2000 to the Prospectus dated May 1, 2000
GENERAL DESCRIPTION OF GET K
Series K of the Aetna GET Fund (GET K) is an investment option that may be
available during the accumulation phase of the contract. Aetna Life Insurance
and Annuity Company (the Company or we) makes a guarantee, as described below,
when you direct money into GET K. Aeltus Investment Management, Inc. serves as
the investment adviser to GET K.
We will offer GET K shares only during its offering period, which is scheduled
to run from September 14, 2000 through the close of business on December 13,
2000. GET K may not be available under your contract, your plan or in your
state. Please read the GET K prospectus for a more complete description of GET
K, including its charges and expenses.
INVESTMENT OBJECTIVE OF GET K
GET K seeks to achieve maximum total return without compromising a minimum
targeted return by participating in favorable equity market performance during
the guarantee period.
GET K's guarantee period runs from December 14, 2000 through December 13, 2005.
During the offering period, all GET K assets will be invested in short-term
instruments, and during the guarantee period will be invested in a combination
of fixed income and equity securities.
THE GET FUND GUARANTEE
The guarantee period for GET K will end on December 13, 2005, which is GET K's
maturity date. The Company guarantees that the value of an accumulation unit of
the GET K subaccount under the contract on the maturity date (as valued after
the close of business on December 13, 2005), will not be less than its value as
determined after the close of business on the last day of the offering period.
If the value on the maturity date is lower than it was on the last day of the
offering period, we will transfer funds from our general account to the GET K
subaccount to make up the difference. This means that if you remain invested in
GET K until the maturity date, at the maturity date you will receive no less
than the value of your separate account investment directed to GET K as of the
last day of the offering period, less any maintenance fees or any amounts you
transfer or withdraw from the GET K subaccount. The value of dividends and
distributions made by GET K throughout the guarantee period is taken into
account in determining whether, for purposes of the guarantee, the value of
your GET K investment on the maturity date is no less than its value as of the
last day of the offering period. The guarantee does not promise that you will
earn the fund's minimum targeted return referred to in the investment
objective.
If you withdraw or transfer funds from GET K before the maturity date, we will
process the transactions at the actual unit value next determined after we
receive your order. The guarantee will not apply to these amounts or to amounts
deducted as a maintenance fee, if applicable.
MATURITY DATE
Before the maturity date, we will send a notice to each contract holder or
participant who has amounts in GET K. This notice will remind you that the
maturity date is approaching and that you must choose other investment options
for your GET K amounts. If you do not make a choice, on the maturity date we
will transfer your GET K amounts to another available series of the GET Fund
that is accepting deposits. If no GET Fund series is available, we will
transfer your GET K amounts to the fund or funds designated by the Company.
X.GETK75962-0 September 2000
<PAGE>
The following information amends the "Fee Table" section contained in the
prospectus:
FEES DEDUCTED FROM THE SUBACCOUNTS DURING THE ACCUMULATION PHASE
(Daily deductions equal to the given percentage of values invested in the
subaccounts on an annual basis)
<TABLE>
<S> <C>
Mortality and Expense Risk Charge ........................................ 1.10%(2)
Administrative Expense Charge ............................................ 0.00%-0.25%(3)
GET K Guarantee Charge (deducted daily during the Guarantee Period) ...... 0.25%
--------------
Total Separate Account Expenses .......................................... 1.35%-1.60%
==============
</TABLE>
FEES DEDUCTED BY THE FUNDS
The following information supplements the "Fund Expense Table" contained in the
prospectus:
Aetna GET Fund Series K Annual Expenses
(As a percentage of the average net assets)
<TABLE>
<CAPTION>
Investment Total Fund Annual Expenses
Advisory Fees(4) Other Expenses(5) (after expense reimbursement)(6)
---------------- ----------------- -------------------------------
<S> <C> <C> <C>
Aetna GET Fund Series K 0.60% 0.15% 0.75%
</TABLE>
For more information regarding expenses paid out of assets of the fund, see the
GET K prospectus.
-----------------------
(2) The mortality and expense risk charge for all subaccounts except the Aetna
Money Market VP subaccount is 1.10% on an annual basis effective February
15, 2000, 1.05% on an annual basis effective February 15, 2001, and 1.00%
on an annual basis effective February 15, 2002. The mortality and expense
risk charge for the Aetna Money Market VP subaccount is 0.35% on an annual
basis effective February 15, 2000. During the income phase, the mortality
and expense risk charge for all subaccounts is 1.25% annually.
(3) We do not currently impose an administrative expense charge. However, we
reserve the right to deduct a daily charge of not more than 0.25% on an
annual basis from the subaccounts.
(4) The Investment Advisory Fee will be 0.25% during the offering period and
0.60% during the guarantee period.
(5) "Other Expenses" include an annual fund administrative fee of 0.075% of the
average daily net assets of GET K and any additional direct fund expenses.
(6) The investment adviser is contractually obligated through GET K's maturity
date to waive all or a portion of its investment advisory fee and/or its
administrative fee and/or to reimburse a portion of GET K's other expenses
in order to ensure that GET K's Total Fund Annual Expenses do not exceed
0.75% of the fund's average daily net assets. It is not expected that GET
K's actual expenses without this waiver or reimbursement will exceed this
amount.
<PAGE>
The following information supplements the "Hypothetical Examples" contained in
the prospectus:
Hypothetical Examples--Aetna GET Fund Series K
Account Fees Incurred Over Time. The following hypothetical examples shows the
fees and expenses paid over time if you invest $1,000 in the GET K investment
option under the contract (until GET K's maturity date), assuming a 5% annual
return on the investment.(7)
<TABLE>
<CAPTION>
------------------------------ Example A Example B
> THESE EXAMPLES ARE PURELY If you withdraw your entire If you leave your entire
HYPOTHETICAL. account value at the end of account value invested or if
> THEY SHOULD NOT BE the periods shown, you would you select an income phase
CONSIDERED A REPRESENTATION pay the following expenses, payment option at the end of
OF PAST OR FUTURE EXPENSES including any applicable the periods shown, you would
OR EXPECTED RETURNS. early withdrawal charge pay the following expenses
> ACTUAL EXPENSES AND/OR assessed: (no early withdrawl charge
RETURNS MAY BE MORE OR LESS is assessed):
THAN THOSE SHOWN BELOW.
------------------------------
1 Year 3 Years 5 Years 1 Year 3 Years 5 Years
-------- --------- --------- -------- --------- --------
<S> <C> <C> <C> <C> <C> <C>
Aetna GET Fund Series K $75 $127 $183 $24 $73 $126
</TABLE>
-----------------------
(7) The examples shown reflect a maximum mortality and expense risk charge of
1.10% on an annual basis, a maximum administrative expense charge of 0.25%
on an annual basis, a GET K guarantee charge of 0.25% on an annual basis,
and all charges and expenses of the GET K Fund. Example A reflects an early
withdrawal charge of 5% of the account value at the end of years 1, 3 and 5.
(The expenses that you would pay under your contract may be lower. Please
refer to the "Fees" section of your prospectus.)
The following information replaces the information in the section entitled
"Other Topics--Legal Matters and Proceedings" in the prospectus:
LEGAL MATTERS AND PROCEEDINGS
We are aware of no material legal proceedings pending which involve the
separate account as a party or which would materially affect the separate
account. The validity of the securities offered by this prospectus has been
passed upon by Counsel to the Company.
In recent years, several life insurance and annuity companies have been named
as defendants in class action lawsuits relating to life insurance and annuity
pricing and sales practices. The Company is a defendant in two such lawsuits:
A purported class action complaint was filed in the Circuit Court of Lauderdale
County, Alabama on March 28, 2000 by Loretta Shaner against the Company (the
"Shaner Complaint"). This case has been removed to the United States District
Court for the Northern District of Alabama. The Shaner Complaint seeks
unspecified compensatory damages from the Company and unnamed affiliates of the
Company. The Shaner Complaint claims that the Company's sale of deferred
annuity products for use as investments in tax-deferred contributory retirement
plans (e.g., IRAs) is improper. This litigation is in the preliminary stages.
The Company intends to defend the action vigorously.
A purported class action complaint was filed in the United States District
Court for the Middle District of Florida on June 30, 2000, by Helen Reese,
Richard Reese, Villere Bergeron, and Allan Eckert against the Company (the
"Reese Complaint"). The Reese Complaint seeks compensatory and punitive damages
and injunctive relief from the Company. The Reese Complaint claims that the
Company engaged in unlawful sales practices in marketing life insurance
policies. This litigation is in the preliminary stages. The Company intends to
defend the action vigorously.
The Company also is a party to other litigation and arbitration proceedings in
the ordinary course of its business, none of which is expected to have a
material adverse effect on the Company.
<PAGE>
X.GETK75962-0 September 2000
<PAGE>
VARIABLE ANNUITY ACCOUNT C
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 C:
- Statement of Assets and Liabilities as of December 31, 1999
- Statement of Operations for the year ended December 31, 1999
- Statements of Changes in Net Assets for the years ended
December 31, 1999 and 1998
- Condensed Financial Information for the year ended
December 31, 1999
- 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, 1999, 1998 and 1997
- Consolidated Balance Sheets as of December 31, 1999 and 1998
- Consolidated Statements of Changes in Shareholder's Equity
for the years ended December 31, 1999, 1998 and 1997
- Consolidated Statements of Cash Flows for the years ended
December 31, 1999, 1998 and 1997
- 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 C(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 (G-TDA-HH(XC/M))(4)
(4.2) Variable Annuity Contract (G-TDA-HH(XC/S))(4)
(4.3) Variable Annuity Certificate (GTCC-HH(XC/M))(5)
(4.4) Variable Annuity Certificate (GTCC-HH(XC/S))(5)
(4.5) Endorsement (EGET-IC(R)) to Contracts G-TDA-HH(XC/M) and
G-TDA-HH(XC/S)(3)
(4.6) Endorsement (ENYSUTMF97) to Contract G-TDA-HH(XC/M)(6)
(4.7) Endorsement (ENYSUTMF97(S)) to Contract G-TDA-HH(XC/S)(6)
(4.8) Endorsement (ENYSTSDO97) to Contracts G-TDA-HH(XC/M) and
G-TDA-HH(XC/S)(6)
<PAGE>
(4.9) Endorsement (EGAA(5/98) NY) to Contracts G-TDA-HH(XC/M) and
G-TDA-HH(XC/S) and Certificates GTCC-HH(XC/M) and
GTCC-HH(XC/S)(5)
(4.10) Endorsement (EG403-GIE-98) to Contract G-TDA-HH(XC/M) and
Certificate GTCC-HH(XC/M)(7)
(4.11) Endorsement (EG403-GI-98) to Contract G-TDA-HH(XC/M) and
Certificate GTCC-HH(XC/M)(8)
(4.12) Endorsement (EGET-99) to Contracts G-TDA-HH(XC/M) and
G-TDA-HH(XC/S) and Certificates GTCC-HH(XC/M) and
GTCC-HH(XC/S)(9)
(4.13) Endorsement (ENYS-XC/M-00) to Contract G-TDA-HH(XC/M) and
Certificate G-TDA-HH(XC/M)(10)
(4.14) Endorsement (ENYS-XC/S-00) to Contract G-TDA-HH(XC/S) and
Certificate G-TDA-HH(XC/S)(10)
(5) Variable Annuity Contract Application (300-GTD-NY(5/98))(8)
(6.1) Certificate of Incorporation of Aetna Life Insurance and Annuity
Company(11)
(6.2) Amendment of Certificate of Incorporation of Aetna Life
Insurance and Annuity Company(12)
(6.3) By-Laws as amended September 17, 1997 of Aetna Life Insurance
and Annuity Company(13)
(7) Not applicable
(8.1) 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)
(8.2) 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(14)
(8.3) Second Amendment dated December 31, 1999 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 and
amended on November 9, 1998(15)
(8.4) Third Amendment dated February 11, 2000 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
<PAGE>
its series, and Aeltus Investment Management, Inc. dated as of
May 1, 1998 and amended on November 9, 1998 and December 31,
1999(16)
(8.5) Fourth Amendment dated May 1, 2000 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 and
amended on November 9, 1998, December 31, 1999 and February
11, 2000(16)
(8.6) 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)
(8.7) 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(14)
(8.8) Second Amendment dated February 11, 2000 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 and
November 14, 1998(16)
(8.9) Third Amendment dated May 1, 2000 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, November 14, 1998 and
February 11, 2000(16)
(8.10) Fund Participation Agreement among Calvert Responsibly Invested
Balanced Portfolio, Calvert Asset Management Company, Inc. and
Aetna Life Insurance and Annuity Company dated December 1,
1997(17)
(8.11) Service Agreement between Calvert Asset Management Company, Inc.
and Aetna Life Insurance and Annuity Company dated December 1,
1997(17)
(8.12) Fund Participation Agreement between Aetna Life Insurance and
Annuity Company, Variable Insurance Products Fund and Fidelity
Distributors Corporation
<PAGE>
dated February 1, 1994 and amended on December 15, 1994,
February 1, 1995, May 1, 1995, January 1, 1996 and March 1,
1996(12)
(8.13) 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(18)
(8.14) 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(19)
(8.15) 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)
(8.16) Eighth Amendment dated December 1, 1999 to 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, November 6, 1997 and May 1, 1998(15)
(8.17) 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(12)
(8.18) 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(18)
(8.19) 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(20)
(8.20) 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)
(8.21) Eighth Amendment dated December 1, 1999 to Fund Participation
Agreement between Aetna Life Insurance and Annuity Company,
Variable Insurance Products
<PAGE>
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, January 20,
1998 and May 1, 1998(16)
(8.22) Service Agreement between Aetna Life Insurance and Annuity
Company and Fidelity Investments Institutional Operations
Company dated as of November 1, 1995(21)
(8.23) 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(18)
(8.24) Service Contract between Fidelity Distributors Corporation and
Aetna Life Insurance and Annuity Company dated May 2, 1997(14)
(8.25) Fund Participation Agreement among Janus Aspen Series and Aetna
Life Insurance and Annuity Company and Janus Capital Corporation
dated December 8, 1997(20)
(8.26) 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(14)
(8.27) Second Amendment dated December 1, 1999 to Fund Participation
Agreement among Janus Aspen Series and Aetna Life Insurance and
Annuity Company and Janus Capital Corporation dated December 8,
1997 and amended on October 12, 1998(15)
(8.28) Amendment dated as of August 1, 2000 to Fund Participation
Agreement among Janus Aspen Series and Aetna Life Insurance and
Annuity Company and Janus Capital Corporation dated December 8,
1997, as amended on October 12, 1999 and December 1, 1999(22)
(8.29) Service Agreement between Janus Capital Corporation and Aetna
Life Insurance and Annuity Company dated December 8, 1997(23)
(8.30) First Amendment dated as of August 1, 2000 to Service Agreement
between Janus Capital Corporation and Aetna Life Insurance and
Annuity Company dated December 8, 1997(22)
(8.31) Distribution and Shareholder Services Agreement - Service Shares
of Janus Aspen Series (for Insurance Companies) dated August 1,
2000 between Janus Distributors, Inc. and Aetna Life Insurance
and Annuity Company(22)
(8.32) Fund Participation Agreement between Aetna Life Insurance and
Annuity Company and Lexington Management Corporation regarding
Natural Resources Trust dated December 1, 1988 and amended
February 11, 1991(3)
(8.33) Fund Participation Agreement between Aetna Life Insurance and
Annuity Company, Lexington Emerging Markets Fund, Inc. and
Lexington Management Corporation (its investment advisor) dated
April 28, 1994(24)
(8.34) 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)
(8.35) Fourth Amendment dated May 1, 1998 to the Fund Participation
Agreement by and 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(25)
<PAGE>
(8.36) Fifth Amendment dated May 1, 1998 to the Fund Participation
Agreement by and 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(26)
(8.37) Fifth Amendment dated July 1, 1999 to Fund Participation
Agreement by and 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, November 28, 1997 and May 1, 1998(27)
(8.38) Fund Participation Agreement dated March 11, 1997 between Aetna
Life Insurance and Annuity Company and Oppenheimer Variable
Annuity Account Funds and Oppenheimer Funds, Inc.(28)
(8.39) First Amendment dated December 1, 1999 to Fund Participation
Agreement between Aetna Life Insurance and Annuity Company and
Oppenheimer Variable Annuity Account Funds and Oppenheimer
Funds, Inc. dated March 11, 1997(16)
(8.40) Service Agreement effective as of March 11, 1997 between
Oppenheimer Funds, Inc. and Aetna Life Insurance and Annuity
Company(28)
(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)
(14.1) Powers of Attorney(29)
(14.2) 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 on April 22, 1996.
2. Incorporated by reference to Registration Statement on Form N-4 (File No.
333-56297), as filed on June 8, 1998.
3. Incorporated by reference to Post-Effective Amendment No. 5 to Registration
Statement on Form N-4 (File No. 33-75986), as filed on April 12, 1996.
4. Incorporated by reference to Post-Effective Amendment No. 6 to Registration
Statement on Form N-4 (File No. 33-75962), as filed on April 17, 1996.
5. Incorporated by reference to Post-Effective Amendment No. 14 to Registration
Statement on Form N-4 (File No. 33-75962), as filed on April 17, 1998.
6. Incorporated by reference to Post-Effective Amendment No. 11 to Registration
Statement on Form N-4 (File No. 33-75962), as filed on April 14, 1997.
7. Incorporated by reference to Post-Effective Amendment No. 11 to Registration
Statement on Form N-4 (File No. 333-01107), as filed on September 10, 1998.
8. Incorporated by reference to Post-Effective Amendment No. 15 to Registration
Statement on Form N-4 (File No. 33-75962), as filed on September 15, 1998.
9. Incorporated by reference to Post-Effective Amendment No. 13 to Registration
Statement on Form N-4 (File No. 333-01107), as filed on April 7, 1999.
<PAGE>
10. Incorporated by reference to Post-Effective Amendment No. 22 to Registration
Statement on Form N-4 (File No. 33-75962), as filed on April 13, 2000.
11. Incorporated by reference to Post-Effective Amendment No. 1 to Registration
Statement on Form S-1 (File No. 33-60477), as filed on April 15, 1996.
12. Incorporated by reference to Post-Effective Amendment No. 12 to Registration
Statement on Form N-4 (File No. 33-75964), as filed on February 11, 1997.
13. Incorporated by reference to Post-Effective Amendment No. 12 to Registration
Statement on Form N-4 (File No. 33-91846), as filed on October 30, 1997.
14. Incorporated by reference to Post-Effective Amendment No. 2 to Registration
Statement on Form N-4 (File No. 333-56297), as filed on December 14, 1998.
15. Incorporated by reference to Post-Effective Amendment No. 19 to Registration
Statement on Form N-4 (File No. 333-01107), as filed on February 16, 2000.
16. Incorporated by reference to Post-Effective Amendment No. 20 to Registration
Statement on Form N-4 (File No. 333-01107), as filed on April 4, 2000.
17. Incorporated by reference to Post-Effective Amendment No. 8 to Registration
Statement on Form N-4 (File No. 333-01107), as filed on February 19, 1998.
18. Incorporated by reference to Post-Effective Amendment No. 30 to Registration
Statement on Form N-4 (File No. 33-34370), as filed on September 29, 1997.
19. Incorporated by reference to Post-Effective Amendment No. 16 to Registration
Statement on Form N-4 (File No. 33-75964), as filed on February 9, 1998.
20. Incorporated by reference to Post-Effective Amendment No. 7 to Registration
Statement on Form S-6 (File No. 33-75248), as filed on February 24, 1998.
21. Incorporated by reference to Post-Effective Amendment No. 3 to Registration
Statement on Form N-4 (File No. 33-88720), as filed on June 28, 1996.
22. Incorporated by reference to Post-Effective Amendment No. 22 to Registration
Statement on Form N-4 (File No. 333-01107), as filed on August 14, 2000.
23. Incorporated by reference to Post-Effective Amendment No. 10 to Registration
Statement on Form N-4 (File No. 33-75992), as filed on December 31, 1997.
24. Incorporated by reference to Post-Effective Amendment No. 22 to Registration
Statement on Form N-4 (File No. 33-34370), as filed on April 22, 1996.
25. Incorporated by reference to Pre-Effective Amendment No. 1 to Registration
Statement on Form N-4 (File No. 333-56297), as filed on August 4, 1998.
26. Incorporated by reference to Post-Effective Amendment No. 4 to Registration
Statement on Form N-4 (File No. 333-56297), as filed on February 16, 1999.
27. Incorporated by reference to Post-Effective Amendment No. 11 to Registration
Statement on Form N-4 (File No. 333-56297), as filed on November 23, 1999.
28 Incorporated by reference to Post-Effective Amendment No. 27 to Registration
Statement on Form N-4 (File No. 33-34370), as filed on April 16, 1997.
29. Incorporated by reference to Post-Effective Amendment No. 16 to Registration
Statement on Form N-4 (File No. 333-56297), as filed on June 26, 2000.
<PAGE>
Item 25. Directors and Officers of the Depositor
------------------------------------------------
<TABLE>
<CAPTION>
Name and Principal
Business Address* Positions and Offices with Depositor
----------------- ------------------------------------
<S> <C>
John Y. Kim Director, President and Chief Investment Officer
Allan Baker Director and Senior Vice President
Catherine H. Smith Director, Senior Vice President and Chief Financial
Officer
Kirk P. Wickman Senior Vice President, General Counsel and Corporate
Secretary
Deborah Koltenuk Vice President, Corporate Controller and Assistant
Treasurer
Brian Murphy Vice President and Chief Compliance Officer
</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 are are based on ownership of voting rights), and (3)
its principal business.
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
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 Inc. PA (1) (*) Aetna Inc. 100% Holding Company
-------------------------------------------------------------------------------------------------------------------------------
Aetna Risk Indemnity Company Limited Bermuda (1) (*) Aetna Inc. 100% Insurance
-------------------------------------------------------------------------------------------------------------------------------
Aetna Life Insurance Company CT (1) (*) Aetna Services, Inc. 100% Life and Health Insurance
and Related Services
-------------------------------------------------------------------------------------------------------------------------------
Aetna Retirement Services, Inc. CT (1) (*) Aetna Services, Inc. 100% Holding Company
-------------------------------------------------------------------------------------------------------------------------------
Aetna International, Inc. CT (1) (*) Aetna Services, Inc. 100% Holding Company for
International Subsidiaries
-------------------------------------------------------------------------------------------------------------------------------
Aetna Health and Life Insurance CT (1) (*) Aetna Services, Inc. 100% Life and Health Insurance
Company
-------------------------------------------------------------------------------------------------------------------------------
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
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Corporation (*) Fully Consolidated
(2) Partnership (**) One Line Consolidation
(3) Joint Venture (***) Not Consolidated
(4) Trust
(5) Limited Liability Company
(6) Federal Savings Association
+ Percentages are rounded to the nearest whole percent and are based on
ownership of voting rights.
1
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Foundation, Inc. CT (1) (***) Aetna Services, Inc. 100%(a) Supports Charitable Scientific,
Literary and Educational
Activities
-----------------------------------------------------------------------------------------------------------------------------------
Imperial Fire & Marine Re-Insurance U.K. (1) (***) Aetna Services, Inc. 10% Reinsurance
Company Limited
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Business Resources, Inc. CT (1) (*) Aetna Services, Inc. 100% Provides Business Services to
External Clients
-----------------------------------------------------------------------------------------------------------------------------------
AE Fifteen, Incorporated CT (1) (*) Aetna Services, Inc. 100% Shell Corp. for Interest in
Cogeneration
-----------------------------------------------------------------------------------------------------------------------------------
PHPSNE Parent Corporation DE (1) (*) AUSHC Holdings, Inc. 55% Holding Company
-----------------------------------------------------------------------------------------------------------------------------------
Luettgens Limited CT (1) (*) Aetna Services, Inc. 100% Retail Specialty Store
-----------------------------------------------------------------------------------------------------------------------------------
AE Housing Corp. CT (1) (*) Aetna Services, Inc. 100% Real Estate
-----------------------------------------------------------------------------------------------------------------------------------
A.S.I. Wings, L.L.C. DE (5) (*) Aetna Services, Inc. 100% General Business Corporation
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Realty Investments I, Inc. CT (1) (*) Aetna Services, Inc. 100% Real Estate Investment
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Health Plans of Southern New CT (1) (*) PHPSNE Parent 100% Health Care
England, Inc. Corporation
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Properties I Limited CT (2) (***) Aetna Realty 84%(b) Real Estate Investment
Partnership Investments I, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
AHP Holdings, Inc. CT (1) (*) Aetna Life Insurance 100% Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
--------
(a) Nonstock Corporation
(b) Aetna Realty Investments I, Inc. is a 1% general partner and an 83%
limited partner.
2
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
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%(c) Real Estate
Company
-----------------------------------------------------------------------------------------------------------------------------------
ALEC Coinvestment Fund 1, L.L.C. DE (5) (**) Aetna Life Insurance 100% Private Equity Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Bay Area Mall, Inc. DE (1) (*) Aetna Life Insurance 100% Real Estate
Company
-----------------------------------------------------------------------------------------------------------------------------------
AE Fourteen, Inc. CT (1) (*) Aetna Life Insurance 100% Cogeneration
Company
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Insurance Company of CT (1) (*) AHP Holdings, Inc. 100% Insurance
Connecticut
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Life Assignment Company CT (1) (*) Aetna Life Insurance 100% Assignment Company for
Company Structured Settlements
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Real Estate Properties, Inc. CT (1) (*) Aetna Life Insurance 100% Acquire, Develop and Lease Real
Company Estate
-----------------------------------------------------------------------------------------------------------------------------------
Aetna/Area Corporation CT (1) (*) Aetna Life Insurance 100% Real Estate Investment and
Company Management
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Institutional Investors I CT (2) (**) Aetna Life Insurance 13%(d) Real Estate Investment
Limited Partnership Company
-----------------------------------------------------------------------------------------------------------------------------------
Shadow Ridge At Oak Park CA (2) (**) Aetna Life Insurance 80% Real Estate
Condominium Associates Company
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
3
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Capitol District Energy Center CT (2) (**) AE Fourteen, Inc. 50% Cogeneration of Electrical Power
Cogeneration Associates
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Affordable Housing, Inc. CT (1) (*) Aetna Life Insurance 100% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
BPC Equity, Inc. DE (1) (*) Aetna Life Insurance 100% General Business Corporation
Company
-----------------------------------------------------------------------------------------------------------------------------------
BPC Equity, L.L.C. DE (5) (**) Aetna Life Insurance 99%(e) General Business Corporation
Company
-----------------------------------------------------------------------------------------------------------------------------------
Lincoln 455 Market Street CA (2) (**) Aetna Life Insurance 90%(f) Real Estate
Company
-----------------------------------------------------------------------------------------------------------------------------------
Circulation L.L.C. CT (5) (**) Aetna Life Insurance 100% General Business Corporation
Company
-----------------------------------------------------------------------------------------------------------------------------------
Koll Center Newport A CA (2) (**) Aetna Life Insurance 50%(g) Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Koll Center Newport Number 8 CA (2) (**) Aetna Life Insurance 50%(h) Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Koll Center Newport Number 9 CA (2) (**) Aetna Life Insurance 50%(i) Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Koll Center Newport Number 10 CA (2) (**) Aetna Life Insurance 50%(j) Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Koll Center Newport Number 11 CA (2) (**) Aetna Life Insurance 50%(k) Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------
(e) BPC Equity, Inc. owns 1% of this Limited Liability Company.
(f) 89% general partner and 1% limited partner.
(g) Aetna Life Insurance Company is a 49% general partner and a 1% limited
partner.
(h) Aetna Life Insurance Company is a 49% general partner and a 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.
4
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------------
Koll Center Newport Number 14 CA (3) (**) Aetna Life Insurance 60% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Pinnacle McDowell Investors, L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
1111 Pasquinelli Dr. L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
1400 Busch Parkway, L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Hayward Industrial Park Associates CA (2) (**) Aetna Life Insurance 99% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Hamilton Partnership IL (2) (**) Aetna Life Insurance 62% Real Estate
Company
-----------------------------------------------------------------------------------------------------------------------------------
Mall Owners LLC DE (5) (**) Aetna Life Insurance 50% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Baltimore East Hotel Investors LLC MD (5) (***) Aetna Life Insurance 100% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Carlyle Club Apartments Investors, DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
Citation Club Investors, L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Birtcher Aetna-Laguna Hills CA (2) (**) Aetna Life Insurance 68% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Harbor Investment Partners CA (2) (**) Aetna Life Insurance 99% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Ensenada De Las Colinas I Associates TX (2) (**) Aetna Life Insurance 99%(l) Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-----------
(l) Aetna Life Insurance Company is a 99% general partner and Trumbull One,
Inc. is a 1% general partner.
5
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------------
Trevose Hospitality, Inc. CT (1) (**) Aetna Life Insurance 100% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Oaks at Valley Ranch I TX (2) (**) Aetna Life Insurance 99%(m) Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Oaks at Valley Ranch II TX (2) (**) Aetna Life Insurance 99%(n) Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
KBC-Eastside Limited Partnership AZ (2) (**) Aetna Life Insurance 80% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Sturbridge Square Apartments DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Investors LLC Company
-----------------------------------------------------------------------------------------------------------------------------------
900 North Stuart Street Investors DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
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
-----------------------------------------------------------------------------------------------------------------------------------
Trumbull Four, Inc. CT (1) (*) Aetna Life Insurance 100% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Southfield Partners MD (2) (**) Aetna Life Insurance 99%(o) Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Lincoln Rancho Cucamonga Associates CA (2) (**) Aetna Life Insurance 60% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Metroplace Office Investors L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
---------------
(m) Aetna Life Insurance Company is a 99% general partner and Trumbull One,
Inc. is a 1% general partner.
(n) Aetna Life Insurance Company is a 99% general partner and Trumbull One,
Inc. is a 1% general partner.
(o) Aetna Life Insurance Company is a 99% general partner and Trumbull Four,
Inc. is a 1% general partner.
6
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------------
Stuart Park Associates, L.L.C. VA (5) (***) 900 North Stuart Street 50% Real Estate Holding Company
Investors L.L.C.
-----------------------------------------------------------------------------------------------------------------------------------
1010 Executive Court, L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Becknell Properties IL (2) (**) Aetna Life Insurance 75% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
3365 Enterprise Avenue Investors, DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
Cherry Hill Investors L.L.C. CT (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Evergreen Industrial Park DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Investors, L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
1135 Arbor Drive Investors L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Centrum Associates CA (2) (**) Aetna Life Insurance 65% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Southwest Financial Associates AZ (2) (**) Aetna Life Insurance 60% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
B&H Ventures IV Limited Partnership CT (2) (**) Aetna Life Insurance 75% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Champions Richland Northcourte TX (2) (*) Aetna Life Insurance 99%(p) Real Estate Investment
Partnership Company
-----------------------------------------------------------------------------------------------------------------------------------
Chris-Town Village Associates AZ (2) (**) Aetna Life Insurance 50% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Maxxim Coinvestment Fund IV, LLC DE (5)(*) Aetna Life Insurance 100% Private Equity Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
--------------------
(p) Aetna Life Insurance Company is a 99% general partner and Trumbull One,
Inc. is a 1% general partner.
7
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------------
Assembly Square Mall LLC DE (5) (**) Aetna Life Insurance 99%(q) Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Arshaw Partners II TX (2) (**) Aetna Life Insurance 50% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Spectrum Fashion Center AZ (2) (**) Aetna Life Insurance 50% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Canyon Springs Investment Partners TX (2) (**) Aetna Life Insurance 100%(r) Real Estate Holding Company
L.P. Company
-----------------------------------------------------------------------------------------------------------------------------------
Cambridgeside Galleria MA (2) (**) Aetna Life Insurance 50% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Circon Coinvestment Fund IV, LLC DE (5) (*) Aetna Life Insurance 100% Private Equity Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
EBF Group L.L.C. DE (5) (*) Aetna Life Insurance 22% Private Equity Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
8550 Freeport Parkway South LP TX (2) (***) Aetna Life Insurance 99%(s) Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Summit-Plano Investors LP TX (2) (***) Aetna Life Insurance 99%(t) Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Stamford Town Center Investors DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
ADBI Partnership FL (2) (**) Aetna Life Insurance 30% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Pratt Street Hotel LLC MD (2) (*) Aetna Life Insurance 99%(u) Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-------------------------
(q) Aetna Life Insurance Company is a 99% member and Bay Area Mall, Inc.,
is a 1% member.
(r) Aetna Life Insurance Company is a 99% general partner and Trumbull One,
Inc. is a 1% general partner.
(s) Aetna Life Insurance Company is a 99% general partner and Trumbull One,
Inc is a 1% general partner.
(t) Aetna Life Insurance Company is a 99% limited partner and Trumbull Four,
Inc. is a 1% general partner.
(u) Aetna Life Insurance Company is a 99% member and Trumbull One, Inc.
is a 1% member.
8
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------------
737 North Michigan Avenue Investors DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
Meridian Business Campus Investors DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
I L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
1501 Fourth Ave. Limited WA (2) (**) Aetna Life Insurance 91%(v) Real Estate Investment
Partnership Company
-----------------------------------------------------------------------------------------------------------------------------------
Thace Associates MI (2) (**) Aetna Life Insurance 25% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Rich-Taubman Associates MA (2) (***) Stamford Town Center 50% Real Estate Holding Company
Investors L.L.C.
-----------------------------------------------------------------------------------------------------------------------------------
Eastmeadow Distribution Center GA (2) (**) Aetna Life Insurance 99%(w) Real Estate Investment
Limited Partnership Company
-----------------------------------------------------------------------------------------------------------------------------------
Eastmeadow Distribution Center GA (2) (**) Aetna Life Insurance 99%(x) Real Estate Investment
Phase II Limited Partnership Company
-----------------------------------------------------------------------------------------------------------------------------------
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 100% Private Equity Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
Southeast Second Avenue, Inc. DE (1) (*) Aetna Life Insurance 100% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
1401 West 22nd Street Investors, DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
----------------
(v) Aetna Life Insurance Company is a 90% general partner and a 1% limited
partner.
(w) Aetna Life Insurance Company is a 98% general partner and a 1% limited
partner.
(x) Aetna Life Insurance Company is a 98% general partner and a 1% limited
partner.
9
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------------
Towns of Chapel Hill Apartments, DE (2) (***) Aetna Life Insurance 99%(y) Real Estate Holding Company
L.P. Company
-----------------------------------------------------------------------------------------------------------------------------------
Freeport Office Center, L.P DE (2) (***) Aetna Life Insurance 99%(z) Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
The Vinings at Delray Beach DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Apartments Investors L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
Central Trust Center Associates OH (2) (**) Aetna Life Insurance 15% Real Estate Investment
Company
-----------------------------------------------------------------------------------------------------------------------------------
South Center I & II Investors L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
South Center III & IV Investors DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
Quail Ridge Drive Investors, L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
3360 Enterprise Avenue Investors DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
Westlake Greens Apartments DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Investors, LLC Company
-----------------------------------------------------------------------------------------------------------------------------------
Corporate Center II Investors L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Dakota McDowell Investors L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Meridian Business Campus Investors DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
II L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
------------------
(y) Aetna Life Insurance Company is a 99% limited partner and Trumbull One,
Inc. is a 1% general partner.
(z) Aetna Life Insurance Company is a 99% limited partner and Trumbull One,
Inc. is a 1% general partner.
10
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------------
Meridian Business Campus DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Investors III L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
Mountain View Crossing Investors DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
Parcel 6 Meridian Parkway Investors DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
The Vintage at Hyland Hills DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Investors L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
Airport Square Holdings I, L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Airport Square Holdings III, L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Airport Square Holdings VI and VII DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
9709 Third Avenue Investors LLC DE (5) (*) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Sawgrass Office Campus Investors LLC DE (5) (*) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Airport Square Holdings VIII, L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Airport Square Holdings IX, L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Meridian at Carlyle Apartments DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Investors L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
2155 Louisiana Avenue Investors DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
Village Green of Rochester DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Apartments Investors L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
11
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------------
Novi Town Center Investors L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Village Park of Mayfield Investors DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
8909 Purdue Road Investors L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Battleground Plaza Investors LLC DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
1251 Port Road Investors LLC. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
RESA-CA Investors LLC DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Concourse Office Plaza L.L.C. DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Village Green of Ann Arbor DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Investors L.L.C. Company
-----------------------------------------------------------------------------------------------------------------------------------
1245 Fordham Drive Apartments DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Investors LLC Company
-----------------------------------------------------------------------------------------------------------------------------------
Santa Fe Industrials Investors LLC DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
720 Fullerton Avenue Investors LLC DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Oakview Eagan Investors LLC DE (5) (***) Aetna Life Insurance 100% Real Estate Holding Company
Company
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Retirement Holdings, Inc. CT (1) (*) Aetna Retirement 100% Holding Company
Services, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Life Insurance and Annuity CT (1) (*) Aetna Retirement 100% Life Insurance, Pensions And
Company Holdings, Inc. Annuities
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Services Holding Company, Inc. CT (1) (*) Aetna Retirement 100% Holding Company for Service
Holdings, Inc. Contract Companies
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
12
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Retail Holding Company, Inc. CT (1) (*) Aetna Retirement 100% Holding Company for Retail
Holdings, Inc. Distribution Companies
-----------------------------------------------------------------------------------------------------------------------------------
Bentana Technologies, Inc. CT (1) (*) Aetna Retirement 50%(aa) Information Technology Company
Holdings, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Trust Company, FSB Federal (6) (*) Aetna Retirement 100% Federal Savings Bank
Holdings, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
Systematized Benefits CT (1) (*) Aetna Services Holding 100% Third Party Administrator
Administrators, Inc. Company, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Financial Services, Inc. CT (1) (*) Aetna Retail Holding, 100% Broker-Dealer and Investment
Company, Inc. Advisor
-----------------------------------------------------------------------------------------------------------------------------------
FNI International, Inc. CA (1) (*) Aetna Retail Holding 100% Holding Company
Company, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Insurance Agency Holding CT (1) (*) Aetna Retail Holding 100% Holding Company
Company, Inc. Company, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Investment Adviser Holding CT (1) (*) Aetna Life Insurance 100% Holding Company for Investment
Company, Inc. and Annuity Company Adviser Companies
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Insurance Company of America FL (1) (*) Aetna Life Insurance 100% Write/Reinsure Life and Annuity
and Annuity Company Business
-----------------------------------------------------------------------------------------------------------------------------------
Aetna New Series Fund, Inc. MD (1) (**) Aetna Life Insurance 100% Regulated Investment Company
and Annuity Company (Mutual Fund)
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Income Shares MA (4) (**) Aetna Life Insurance 97% Regulated Investment Company
and Annuity Company (Mutual Fund)
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Variable Encore Fund MA (4) (**) Aetna Life Insurance 97% Regulated Investment Company
and Annuity Company (Mutual Fund)
-----------------------------------------------------------------------------------------------------------------------------------
Aeltus Investment Management, Inc. CT (1) (*) Aetna Investment 100% Investment Advisor
Adviser Holding
Company, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
----------
(aa) U.S. Healthcare Financial Services, Inc. owns 50% of Bentana
Technologies, Inc.
13
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Variable Portfolios, Inc. MD (1) (**) Aetna Life Insurance 99% Regulated Investment Company
and Annuity Company (Mutual Fund)
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Variable Fund MA (4) (**) Aetna Life Insurance 98% Regulated Investment Company
and Annuity Company (Mutual Fund)
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Balanced VP, Inc. MD (1) (**) Aetna Life Insurance 99% Regulated Investment Company
and Annuity Company (Mutual Fund)
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Series Fund, Inc. MD (1) (**) Aetna Life Insurance 27%(bb) Regulated Investment Company
and Annuity Company (Mutual Fund)
-----------------------------------------------------------------------------------------------------------------------------------
Aetna GET Fund MA (4) (**) Aetna Life Insurance 100% Regulated Investment Company
and Annuity Company (Mutual Fund)
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Generation Portfolios, Inc. MD (1) (**) Aetna Life Insurance 100% Regulated Investment Company
and Annuity Company (Mutual Fund)
-----------------------------------------------------------------------------------------------------------------------------------
Portfolio Partners, Inc. MD (1) (**) Aetna Life Insurance 97%(cc) Regulated Investment Company
and Annuity Company (Mutual Fund)
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Investment Services, Inc. CT (1) (*) Aetna Life Insurance 100% Distribute Securities Products -
and Annuity Company ALIAC and Outside Funds
-----------------------------------------------------------------------------------------------------------------------------------
Aetna Investment Management Bermuda (1) (*) Aeltus Investment 100% Holding Company
(Bermuda) Holdings Limited Management, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
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 Functions
Management, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
Elijah Asset Management, Limited DE (5) (**) Aeltus Investment 25% Investment Adviser
Liability Company Management, Inc.
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-----------------
(bb) Aetna Life Insurance Company owns 1% of Aetna Series Fund, Inc.
(cc) Aetna Insurance Company of America owns 3% of Portfolio Partners, Inc.
14
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
China Dynamic Investment Management Hong Kong (1) (**) Aetna Investment Management 50% Establish and Manage Collective
(Hong Kong) Limited (Bermuda) Holdings Limited Investment Scheme
------------------------------------------------------------------------------------------------------------------------------------
Financial Network Investment CA (1) (*) FNI International, Inc. 100% Broker/Dealer
Corporation
------------------------------------------------------------------------------------------------------------------------------------
FN Insurance Agency of MA (1) (*) FNI International, Inc. 100% Solicitation of Insurance Business
Massachusetts, Inc.
------------------------------------------------------------------------------------------------------------------------------------
FN Insurance Services, Inc. CA (1) (*) FNI International, Inc. 100% Solicitation of Insurance Business
------------------------------------------------------------------------------------------------------------------------------------
FN Insurance Services of Alabama, AL (1) (*) FNI International, Inc. 100% Solicitation of Insurance Business
Inc.
------------------------------------------------------------------------------------------------------------------------------------
FN Insurance Services of Nevada, NV (1) (*) FNI International, Inc. 100% Solicitation of Insurance Business
Inc.
------------------------------------------------------------------------------------------------------------------------------------
Financial Network Investment HI (1) (*) FNI International, Inc. 100% Solicitation of Insurance Business
Corporation of Kauai, Inc.
------------------------------------------------------------------------------------------------------------------------------------
Financial Network Investment HI (1) (*) FNI International, Inc. 100% Solicitation of Insurance Business
Corporation of Hawaii
------------------------------------------------------------------------------------------------------------------------------------
Financial Network Investment HI (1) (*) FNI International, Inc. 100% Solicitation of Insurance Business
Corporation of Hilo, Inc.
------------------------------------------------------------------------------------------------------------------------------------
FN Insurance Agency, Kansas, Inc. KS (1) (*) FNI International, Inc. 100% Solicitation of Insurance Business
------------------------------------------------------------------------------------------------------------------------------------
FN Insurance Services HI, Inc. HI (1) (*) FNI International, Inc. 100% Solicitation of Insurance Business
------------------------------------------------------------------------------------------------------------------------------------
Financial Network Investment HI (1) (*) FNI International, Inc. 100% Solicitation of Insurance Business
Corporation, Honolulu, Inc.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
15
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Financial Network Investment PR (1) (*) FNI International, Inc. 100% Solicitation of Insurance Business
Corporation, Puerto Rico, Inc.
------------------------------------------------------------------------------------------------------------------------------------
FN Insurance Agency, New Jersey, NJ (1) (*) FNI International, Inc. 100% Solicitation of Insurance Business
Inc.
------------------------------------------------------------------------------------------------------------------------------------
Aetna Insurance Agency of Ohio, Ohio (1) (*) Aetna Insurance Agency 90%(dd) Insurance Agency for the
Inc. Holding Company, Inc. Marketing of Registered and
Nonregistered Insurance Products
------------------------------------------------------------------------------------------------------------------------------------
Aetna Insurance Agency, Inc. CT (1) (*) Aetna Insurance Agency 100% Insurance Agency for the
Holding Company, Inc. Marketing of Registered and
Nonregistered Insurance Products
------------------------------------------------------------------------------------------------------------------------------------
Aetna Insurance Agency of MA (1) (*) Aetna Insurance Agency 100% Insurance Agency for the
Massachusetts, Inc. Holding Company, Inc. Marketing of Registered and
Nonregistered Insurance Products
------------------------------------------------------------------------------------------------------------------------------------
Aetna Insurance Agency of Alabama, AL (1) (*) Aetna Insurance Agency 100% Insurance Agency for the
Inc. Holding Company, Inc. Marketing of Registered and
Nonregistered Insurance Products
------------------------------------------------------------------------------------------------------------------------------------
Aetna International Holdings Hong Kong (1) (*) Aetna International, Inc. 100% Holding Company for Insurance and
(Hong Kong) I Limited Financial Services
------------------------------------------------------------------------------------------------------------------------------------
Aetna Life Insurance Company Bermuda (1) (**) Aetna International, Inc. 61%(ee) Life Disability and Employee
(Bermuda) Limited Benefits Ins. in H.K.
------------------------------------------------------------------------------------------------------------------------------------
Strategic Investors Asia Ltd. Bermuda (1) (**) Aetna International, Inc. 49% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna International Fund Management CT (1) (*) Aetna International, Inc. 100% Investment Management Services
Inc.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-----------------
(dd) Non-voting interest
(ee) Strategic Investors Asia Ltd. Owns 39% of Aetna Life Insurance Company
(Bermuda) Ltd.
16
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Information Technology PRC (1) (*) Aetna International, Inc. 100% Information Services Company
(Guanghzou) Limited
------------------------------------------------------------------------------------------------------------------------------------
AII 1, L.L.C. CT (1) (**) Aetna International, Inc. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
AII 2, L.L.C. CT (1) (**) Aetna International, Inc. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
AII 3, L.L.C. CT (1) (**) Aetna International, Inc. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
AII 4, L.L.C. CT (1) (**) Aetna International, Inc. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna Holdings (Cayman) Ltd. Cayman (1) (**) Aetna International, Inc. 100% Insurance Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna Argentina S.A. Argentina (1) (*) Aetna International, Inc. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
ALICA Holdings, Inc. CT (1) (*) Aetna International, Inc. 80% Dedicated Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna Life Insurance Company of CT (1) (*) Aetna International, Inc. 100% Life Insurance
America
------------------------------------------------------------------------------------------------------------------------------------
Aetna International Holdings Hong Kong (1) (*) Aetna International, Inc. 100% Holding Company
(Hong Kong) II Limited
------------------------------------------------------------------------------------------------------------------------------------
Aetna Internacional y Compania, Mexico (1) (*) Aetna International, Inc. 64%(ff) Holding Company
S. de R.L. de C.V.
------------------------------------------------------------------------------------------------------------------------------------
Aetna S.A. Chile (1) (*) Aetna International, Inc. 100% Holding Co.
------------------------------------------------------------------------------------------------------------------------------------
Arcelia Limited Hong Kong (1) (*) Aetna International, Inc. 100% Investment & Holding Co. for
Aetna's Asia Pacific Operations
------------------------------------------------------------------------------------------------------------------------------------
Aetna Life & Casualty Bermuda Bermuda (1) (*) Aetna International, Inc. 100% Insurance, Guaranteed and
Limited Indemnity Business
------------------------------------------------------------------------------------------------------------------------------------
Inversiones Mercantil Aetna, C.A. Venezuela (1) (*) Aetna International, Inc. 50% Insurance Company
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-----------------
(ff) AE Five, Inc. owns 36% of Aetna Internacional y Compania, S. de R.L.
de C.V.
17
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Heart Investment Holdings Taiwan (1) (*) Aetna Life Insurance Company 80% Holding Company
Limited of America
------------------------------------------------------------------------------------------------------------------------------------
Aetna Life and Casualty Netherlands Aetna International, Inc. 100% Finance Investment Company
International Finance N.V. Antilles (1) (*)
------------------------------------------------------------------------------------------------------------------------------------
Sul America Aetna Seguros de Brazil (1) (**) Aetna International, Inc. 49% Insurance
Previdencia S.A.
------------------------------------------------------------------------------------------------------------------------------------
Aetna Capital Holdings, Inc. CT (1) (*) Aetna International, Inc. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna Securities Investment Taiwan (1) (*) Aetna International, Inc. 80% Securities Investment Advisor
Management (Taiwan) Ltd.
------------------------------------------------------------------------------------------------------------------------------------
AE Five Incorporated CT (1) (*) Aetna International, Inc. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Powszechne Towarzystwo Emerytalne Poland (1) (*) Aetna International, Inc. 40% Pension Fund Corporation
PBK
------------------------------------------------------------------------------------------------------------------------------------
Pacific-Aetna Life Insurance Co., PRC (3) (**) Aetna International, Inc. 50%(gg) Life Insurance
Ltd.
------------------------------------------------------------------------------------------------------------------------------------
The Aetna Heiwa Life Insurance Japan (1) (**) Aetna International, Inc. 99% Life Insurance Company
Company Limited
------------------------------------------------------------------------------------------------------------------------------------
Aetna MPF Limited Hong Kong (1) (*) Aetna International, Inc. 50%(hh) Investment Management & Advisory
Services for Individual Clients
and Investment Funds
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-----------------
(gg) Aetna Life Insurance Company owns 1% of Pacific - Aetna Life Insurance
Co. Ltd.
(hh) The remaining 50% interest in this entity is held by AII 1-4, L.L.C.
18
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Health Investments Inc. Canada (1) (*) Aetna International, Inc. 100% Health Investment Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna Investment Management Taiwan (1) (*) Aetna International, Inc. 80% Provide Non-Security Business and
(Taiwan) Limited Investment Advice
------------------------------------------------------------------------------------------------------------------------------------
Aetna Health (N.Z.) Limited New Zealand (1) (*) Aetna International, Inc. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna (H.K.) Services Limited Hong Kong (1) (*) Aetna International, Inc. 100% Investment Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Osatspa Insurance Co. Ltd. Thailand (1) (**) Aetna International, Inc. 20% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Osatspa Life Insurance Co., Ltd. Thailand (1) (**) Aetna International, Inc. 80% Life Insurance
------------------------------------------------------------------------------------------------------------------------------------
Aetna Phillippine Ventures, Inc. Phillippine (1) (*) Aetna International, Inc. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Seguros Mercantil, C.A. Venezuela (1) (*) Inveriones Mercantil Aetna, 100% Insurance Company
Inc.
------------------------------------------------------------------------------------------------------------------------------------
Inversiones Veninversa, C.A. Venezuela (1) (*) Seguros Mercantil, C.A. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Estacionamiento Vence, C.A. Venezuela (1) (*) Seguros Mercantil, C.A. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Administradora de Fondos de Retiro Venezuela (1) (*) Seguros Mercantil, C.A. 100% Pension Company
Mercantil
------------------------------------------------------------------------------------------------------------------------------------
First Canadian Health Management Canada (1) (**) Aetna Health Investments, 49% Managed Health Services
Corporation, Inc. Inc.
------------------------------------------------------------------------------------------------------------------------------------
Aetna Life Insurance Inc. Philippines (1) (*) Aetna Philippine Ventures, 100% Life Insurance
Inc.
------------------------------------------------------------------------------------------------------------------------------------
Aetna Healthcare, Inc. Philippines (1) (*) Aetna Philippine Ventures, 100% Insurance
Inc.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
19
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
East Asia Aetna Services Company Hong Kong (1) (**) Aetna Life Insurance Company 100% Management Services to Associate
Limited (Bermuda) Limited Companies
------------------------------------------------------------------------------------------------------------------------------------
Daya Aetna (Malaysia) SDN. BHD. Malaysia (1) (*) Aetna International Holdings 91% Holding Company
(Hong Kong) II Limited
------------------------------------------------------------------------------------------------------------------------------------
Genesis Healthcare SDN, BHD Malaysia (1) (*) Daya Aetna (Malaysia) SDN, 100% Health Insurance Company
BHD
------------------------------------------------------------------------------------------------------------------------------------
Aetna Trust Limited Hong Kong (1) (*) Aetna International, Inc. 100% Financial Services Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna Universal Insurance Berhad Malaysia (1) (*) Daya Aetna (Malaysia) SDN. 100% Individual Life, Home Service,
BHD. Group and General Insurance
------------------------------------------------------------------------------------------------------------------------------------
P.T. Aetna Life Indonesia Indonesia (1) (**) Aetna Life Insurance Company 80% Limited Liability Life Insurance
of America Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna Heart Investments Holdings Taiwan (1) (*) Aetna Life Insurance Company 80% Trading Co. - Marketing of Gifts
Limited of America and Souveniers
------------------------------------------------------------------------------------------------------------------------------------
Aetna Heart Co., Ltd. Taiwan (1) (**) Aetna Heart Investment 100% Trading Company - Marketing of
Holdings Limited Gifts and Souvenirs
----------------------------------------------------------------------- ---------------------------------------- -------------------
Aetna South Life Agency Co., Ltd. Taiwan (1) (**) Aetna Heart Investment 100% Administrative Support
Holdings Limited
------------------------------------------------------------------------------------------------------------------------------------
Aetna Life Insurance Agency Co. Taiwan (1) (*) Aetna Heart Investments 50% Life Insurance Company
Holdings Limited
------------------------------------------------------------------------------------------------------------------------------------
Huei Hong Securities Co., Ltd. Taiwan (1) (*) Aetna Heart Investment 20% Securities Trading
Holdings Limited
------------------------------------------------------------------------------------------------------------------------------------
Aetna Heart Publishing Company Ltd. Taiwan (1) (*) Aetna Heart Investment 100% Trading Company
Holdings Limited
------------------------------------------------------------------------------------------------------------------------------------
Aetna Sinopac Credit Card Company Taiwan (1) (*) Aetna Heart Investment 50% Financial Services Credit Card
Limited Holdings Limited Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna (Netherlands) Holdings B.V. Netherlands (1) (*) Aetna Life and Casualty 100% Finance Company
International Finance N.V.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
20
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Seguros Bancomer, S.A. de C.V. Mexico (1) (**) Aetna Internacional y 49% Insurance and Reinsurance Company
Compania S de R.L. de C.V.
------------------------------------------------------------------------------------------------------------------------------------
Inverval de Mexico S.A. de C.V. Mexico (1) (*) Aetna Internacional y 98% Holding Company
Compania S de R.L. de C.V.
------------------------------------------------------------------------------------------------------------------------------------
AE Five y Compania S. de R.L. de Mexico (1) (*) Aetna Internacional y 100% Limited Limitability Company
C.V. Compania S de R.L. de C.V. Formed Under Mex. Law for The
Purpose of Issuing Cpos in Mexico.
------------------------------------------------------------------------------------------------------------------------------------
Administradora de Fondos Para el Mexico (1) (**) Aetna Internacional y 33%(ii) Retirement Funds Management
Retiro Bancomer, S.A. de C.V. Compania S de R.L. de C.V. Company
------------------------------------------------------------------------------------------------------------------------------------
Grupo Vamsa, S.A. de C.V. Mexico (1) (**) Aetna Internacional y 49% Legal Administration and Financial
Compania S de R.L. de C.V. Services
------------------------------------------------------------------------------------------------------------------------------------
Pensiones Bancomer S.A. de C.V. Mexico (1) (**) Aetna Internacional y 49% Insurance Company
Compania S de R.L. de C.V.
------------------------------------------------------------------------------------------------------------------------------------
Asesores en Promociones Segunomina Mexico (1) (**) Seguros Bancomer, S.A. 67%(jj) Marketing of Seguros
S.A. de C.V. de C.V. Products/Payroll Discounts
------------------------------------------------------------------------------------------------------------------------------------
Multiasistencia, S.A. de C.V. Mexico (1) (**) Seguros Bancomer, S.A. 100% Administrative Services in
de C.V. Connection with Insurance Claims
------------------------------------------------------------------------------------------------------------------------------------
Meximed, S.A. de C.V. Mexico (1) (**) Seguros Bancomer, S.A. 100% Services for Insureds for
de C.V. Hospitals Admissions and Claims
Processing
------------------------------------------------------------------------------------------------------------------------------------
Servicios Corporativos Bancomer S.A. Mexico (1) (**) Administradora de Fondos 99% Pension Administration
para el Retiro Bancomer,
S.A. de C.V.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-----------------
(ii) Santa Maria Internacional S.A. owns 16% of Administradora de Fondos para el
Retiro Bancomer, S.A. de C.V.
(jj) Pensiones Bancomer, S.A. de C.V. owns 33% of Aserores en Promociones
Segunomina, S.A. de C.V.
21
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Futuro Familiar S.A. de C.V. Mexico (1) (**) Pensiones Bancomer, 100% Marketing of Financial Services
S.A. de C.V. & Products
------------------------------------------------------------------------------------------------------------------------------------
Aetna Chile Seguros Generales S.A. Chile (1) (*) Aetna S.A. 98% Casualty Insurance Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna Administradora de Fondos de Chile (1) (*) Aetna S.A. 100% Real Estate Investment Trust
Inversion S.A. Management Co.
------------------------------------------------------------------------------------------------------------------------------------
Aetna Chile Seguros de Vida S.A. Chile (1) (*) Aetna S.A. 100% Life Insurance Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna Pensiones S.A. Chile (1) (*) Aetna S.A. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna Credito Hipotecario S.A. Chile (1) (*) Aetna S.A. 100% Mortgage Company
------------------------------------------------------------------------------------------------------------------------------------
Cruz-Blanca Isapre, S.A. Chile (1) (*) Aetna S.A. 81% Insurance Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna International Peru S.A. Peru (1) (*) Aetna S.A. 86%(kk) Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna Salud S.A. Chile (1) (*) Aetna S.A. 90% Health Indemnity - Chile
------------------------------------------------------------------------------------------------------------------------------------
Administradora de Fondos de Chile (1) (*) Aetna Pensiones S.A. 97% Pension Funds Management Company
Pensiones Santa Maria S.A.
------------------------------------------------------------------------------------------------------------------------------------
Santa Maria Internacional S.A. Chile (1) (*) Administradora de Fondos de 100% Pension Administration
Pensiones Santa Maria S.A.
------------------------------------------------------------------------------------------------------------------------------------
Immobilaria Padre Mariano S.A. Chile (1) (*) Aetna Credito Hipotecario S.A. 99%(ll) Real Estate Development
------------------------------------------------------------------------------------------------------------------------------------
</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 1% of this company
22
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Inmobiliaria Inmarangatn S.A. Chile (1) (*) Inmobiliaria Padre Mariano 15% Service Company
S.A.
------------------------------------------------------------------------------------------------------------------------------------
Asesories Previdencia Chile (1) (*) Inmobiliaria Padre Mariano 99% Service Company
S.A.
------------------------------------------------------------------------------------------------------------------------------------
Aetna Pensiones Peru S.A. Peru (1) (**) Santa Maria Internacional S.A. 66%(mm) Investment
------------------------------------------------------------------------------------------------------------------------------------
Administradora de Fondos de Peru (1) (**) Aetna Pensiones Peru S.A. 40%(nn) Pension Funds Management Company
Pensiones Integra S.A.
------------------------------------------------------------------------------------------------------------------------------------
Wiese Aetna Compania de Seguros Peru (1) (**) Aetna International Peru S.A. 34% Insurance and Reinsurance
S.A.
------------------------------------------------------------------------------------------------------------------------------------
Novasalud Peru S.A. Entidad Peru (1) (**) Wiese Aetna Compania de 50% Insurance subsidiary
Prestadora de Salud Seguros S.A.
------------------------------------------------------------------------------------------------------------------------------------
Cruz Blanca Entidad Protomotra de Columbia (1) (*) Cruz Blanca Isapre, S.A. 50% Pension Insurance Company
Salud S.A.
------------------------------------------------------------------------------------------------------------------------------------
Sul America Aetna Companhia Brazil (1) (*) Sul America Aetna Seguros 100% Pension
Nacional de Seguros e Previdencia de Previdencia S.A.
Privada
------------------------------------------------------------------------------------------------------------------------------------
Sul America Servicos Medicos S.A. Brazil (1) (*) Sul America Aetna Seguros 100% Health Administrator
de Previdencia S.A.
------------------------------------------------------------------------------------------------------------------------------------
Clube Dos Executivos, S.A. Brazil (1) (*) Sul American Aetna Seguros 100% Life insurance sponsor
de Previdencia S.A.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-----------------
(mm) Aetna S.A. owns 34% of this company
(nn) Aetna Pensiones Peru S.A. owns 40% of this company
23
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Executivos S/A Administracao e Brazil (1) (*) Clube Dos Executivos S.A. 99% Administrative Services
Promocao de Seguros
------------------------------------------------------------------------------------------------------------------------------------
Executivos Corretorae Brazil (1) (*) Clube Dos Executivos S.A. 99% Administrative Services
Administradora de Seguros S/C LTDA
------------------------------------------------------------------------------------------------------------------------------------
Sulalet Servisos Medicos Brazil (1) (*) Sul America Aetna Companhia 100% Healthcare Services
Nacional de Seguros e
Previdencia Privada
------------------------------------------------------------------------------------------------------------------------------------
Brasilsaude Companhia de Segoros Brazil (1) (*) Sul America Aetna Companhia 51% Insurance
Nacional de Seguros e
Previdencia Privada.
------------------------------------------------------------------------------------------------------------------------------------
Aetna Life Insurance (N.Z.) Limited New Zealand (1) (*) Aetna Health (N.Z.) Limited 100% Group Benefits/Pension Management
------------------------------------------------------------------------------------------------------------------------------------
Human Affairs (N.Z.) Limited New Zealand (1) (*) Aetna Health (N.Z.) Limited 100% Indemnity Health Insurance
------------------------------------------------------------------------------------------------------------------------------------
First Health Limited New Zealand (1) (*) Aetna Health (N.Z.) Limited 100% Super Annuitization/Long Term Care
------------------------------------------------------------------------------------------------------------------------------------
Prime Health Limited New Zealand (1) (*) First Health Limited 50% Buying and Managing Risk for
Publicly Funded Health Services
and Providing Management Services
and Infrastructure to its
Network of Doctors
------------------------------------------------------------------------------------------------------------------------------------
Managed Care New Zealand Limited New Zealand (1) (*) Human Affairs (NZ) Limited 100% Long Term Care Provider
------------------------------------------------------------------------------------------------------------------------------------
PLJ Holdings Limited Hong Kong (1) (*) Aetna (H.K.) Services Limited 100% Investment Management & Securities
Trading
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
24
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Investment Management (F.E.) Hong Kong (1) (*) Aetna (H.K.) Services Limited 100% Nominee Services Holding Assets
Limited of AIM F.E.'s Customers in
Street Name
------------------------------------------------------------------------------------------------------------------------------------
Kwang HUA Securities Investment & Taiwan (1) (***) Aetna (H.K.) Services Limited 20% Securities Investment & Trust
Trust Co. Ltd.
------------------------------------------------------------------------------------------------------------------------------------
Kwang Hua Investment & Trust (H.K.) Hong Kong (1) (***) Kwang HUA Securities 100% Investment Company
Co. Ltd Investment & Trust Co. Ltd.
------------------------------------------------------------------------------------------------------------------------------------
Kwang HUA Securities Investment Taiwan (1) (***) PLJ Holdings Limited 20% Investment Consulting Company
Consultant Co. Ltd.
------------------------------------------------------------------------------------------------------------------------------------
Aetna Salud S.A. Argentina (1) (*) Aetna Argentina, S.A. 100% Managing of Health Services
------------------------------------------------------------------------------------------------------------------------------------
Assistencia Medica Social Argentina Argentina (1) (*) Aetna Argentina, S.A. 100% Healthcare Management
S.A.
------------------------------------------------------------------------------------------------------------------------------------
Aetna Vida S.A. Argentina (1) (*) Aetna Argentina, Inc.. 100% Health and Life Insurance
------------------------------------------------------------------------------------------------------------------------------------
U.S. Healthcare Financial Services, DE (1) (*) Aetna U.S. Healthcare Inc. 100% Holding Company
Inc. (PA)
------------------------------------------------------------------------------------------------------------------------------------
Primary Holdings, Inc. DE (1) (*) Aetna U.S. Healthcare Inc. 100% Holding Company
(PA)
------------------------------------------------------------------------------------------------------------------------------------
Aetna Health Management, Inc. DE (1) (*) Aetna U.S. Healthcare Inc. 100% HMO Management Company
(PA)
------------------------------------------------------------------------------------------------------------------------------------
NYLCare Health Plans, Inc. DE (1) (*) Aetna U.S. Healthcare Inc. 100% Holding Company
(PA)
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare Dental Plan, PA (1) (*) Aetna U.S. Healthcare Inc. 100% Dental
Inc. (PA)
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare Dental Plan, NJ (1) (*) Aetna U.S. Healthcare Inc. 100% Dental
Inc. (PA)
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare Dental Plan, DE (1) (*) Aetna U.S. Healthcare Inc. 100% Dental
Inc. (PA)
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
25
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
U.S. Health Insurance Company NY (1) (*) Aetna U.S. Healthcare Inc. 100% Accident and Health Insurance
(PA) Company
------------------------------------------------------------------------------------------------------------------------------------
Corporate Health Insurance Company PA (1) (*) Aetna U.S. Healthcare Inc. 100% Accident and Health Insurance
(PA) Company
------------------------------------------------------------------------------------------------------------------------------------
U.S. Managed Care, Inc. MD (1) (*) Aetna U.S. Healthcare Inc. 100% Utilization Review
(PA)
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, Inc. NJ (1) (*) Aetna U.S. Healthcare Inc. 100% HMO
(PA)
------------------------------------------------------------------------------------------------------------------------------------
U.S. Healthcare, Inc. NY (1) (*) Aetna U.S. Healthcare Inc. 100% HMO
(PA)
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, Inc. CT (1) (*) Aetna U.S. Healthcare Inc. 100% HMO
(PA)
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, Inc. MA (1) (*) Aetna U.S. Healthcare Inc. 100% HMO
(PA)
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, Inc. (DE) DE (1) (*) Aetna U.S. Healthcare Inc. 100% HMO
(PA)
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare of New NH (1) (*) Aetna U.S. Healthcare Inc. 100% HMO
Hampshire, Inc. (PA)
------------------------------------------------------------------------------------------------------------------------------------
Prudential Health Care Plan, Inc. TX (1) (*) Aetna U.S. Healthcare Inc. 100% HMO
(PA)
------------------------------------------------------------------------------------------------------------------------------------
Prudential Health Care Plan of New NY (1) (*) Aetna U.S. Healthcare Inc. 100% HMO
York, Inc. (PA)
------------------------------------------------------------------------------------------------------------------------------------
Prudential Health Care Plan of CT (1) (*) Aetna U.S. Healthcare Inc. 100% HMO
Connecticut, Inc. (PA)
------------------------------------------------------------------------------------------------------------------------------------
Criterion Communications, Inc. DE (1)(*) Aetna U.S. Healthcare Inc. 100% HMO
(PA)
------------------------------------------------------------------------------------------------------------------------------------
Advent Investments, Inc. DE (1) (*) U.S. Healthcare Financial 100% DE Holding Company
Services, Inc.
------------------------------------------------------------------------------------------------------------------------------------
Independent Investments, Inc. DE (1) (*) U.S. Healthcare Financial 100% DE Holding Company
Services, Inc.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
26
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
United States Physicians Care PA (1) (*) U.S. Healthcare Financial 100% Financial Services to Physicians
Systems, Inc. Services, Inc.
------------------------------------------------------------------------------------------------------------------------------------
United States Home Health Care PA (1) (*) U.S. Healthcare Financial 100% Inactive - other Medical Services
Systems, Inc. Services, Inc.
------------------------------------------------------------------------------------------------------------------------------------
U.S. Health Aviation Corp. PA (1) (*) U.S. Healthcare Financial 100% Ownership and Operation of
Services, Inc. Airplanes
------------------------------------------------------------------------------------------------------------------------------------
U.S. Healthcare Properties, Inc. PA (1) (*) U.S. Healthcare Financial 100% Holding Company for Real Estate
Services, Inc.
------------------------------------------------------------------------------------------------------------------------------------
Intelihealth, Inc. DE (1) (*) U.S. Healthcare Financial 100% Software Development
Services, Inc.
------------------------------------------------------------------------------------------------------------------------------------
USHC Management Services DE (1) (*) U.S. Healthcare Financial 100% Management and Financial Services
Corporation Services, Inc. to Network Providers
------------------------------------------------------------------------------------------------------------------------------------
Integrated Pharmacy Solutions, Inc. FL (1) (*) U.S. Healthcare Financial 100% Pharmaceutical
Services, Inc.
------------------------------------------------------------------------------------------------------------------------------------
Bentana Technologies, Inc. CT (1) (*) U.S. Healthcare Financial 50%(oo) Information Technology Company
Services, Inc.
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare Interactive DE (1) (*) Aetna U.S. Healthcare 80%(pp) Shell corp. set up to handle
Inc. Financial Services, Inc. health's internet portal
operations
------------------------------------------------------------------------------------------------------------------------------------
U.S. Healthcare Advantage, Inc. DE (1) (*) Advent Investments, Inc. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Wissahickon Payment Administrators, DE (1) (*) Advent Investments, Inc. 100% Third Party Administrator
Inc.
------------------------------------------------------------------------------------------------------------------------------------
Advent Financial Services, Inc. DE (1) (*) U.S. Healthcare Advantage, 100% Holding Company
Inc.
------------------------------------------------------------------------------------------------------------------------------------
Corporate Health Administrators, PA (1) (*) Advent Financial Services, 100% Third Party Administrator for
Inc. Inc. Self-Insured Plans
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-----------------
(oo) Aetna Retirement Holdings, Inc. owns 50% of Bentana Technologies, Inc.
(pp) Aetna Health Management, Inc. owns 20% of Aetna U.S. Healthcare Interactive
Inc.
27
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Managed Care Coordinators, Inc. DE (1) (*) Advent Financial Services, 100% Evaluation and Administration of
Inc. Multiple Health Plans
------------------------------------------------------------------------------------------------------------------------------------
U.S. Phoenix Corporation PA (1) (*) Advent Financial Services, 100% Shell
Inc.
------------------------------------------------------------------------------------------------------------------------------------
U.S. Quality Algorithms, Inc. PA (1) (*) Advent Financial Services, 100% Services to Analyze the Quality
Inc. and Effectiveness of Medical Care
------------------------------------------------------------------------------------------------------------------------------------
Workers Comp Advantage, Inc. PA (1) (*) Advent Financial Services, 100% Case Management and other Medical
Inc. Management Services for Employers
on Costs Related to Workers'
Compensation Claims
------------------------------------------------------------------------------------------------------------------------------------
Primary Investments, Inc. DE (1) (*) Primary Holdings, Inc. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
United States Health Care Systems PA (1) (*) Primary Investments, Inc. 100% HMO
of Pennsylvania, Inc.
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare Inc. MD (1) (*) Primary Investments, Inc. 15%(qq) HMO
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare of the NC (1) (*) Primary Investments, Inc. 100% HMO
Carolinas, Inc.
---------------------------------------------------------------------------------------- -------------------------------------------
Aetna U.S. Healthcare Holdings, Inc. DE (1) (*) Primary Investments, Inc. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, Inc. MI (1) (*) Primary Investments, Inc. 100% HMO
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, Inc. OK (1) (*) Primary Investments, Inc. 100% HMO
------------------------------------------------------------------------------------------------------------------------------------
U.S. Healthcare, Inc. MO (1) (*) Primary Investments, Inc. 100% HMO
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-----------------
(qq) NYLCare Health Plans, Inc. owns 44% and Aetna Health Management, Inc. owns
41% of Aetna U.S. Healthcare, Inc. (MD)
28
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna U.S. Healthcare, Inc. CO (1) (*) Aetna U.S. Healthcare 100% HMO
Holdings, Inc.
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare Inc. WA (1) (*) Primary Investments, Inc. 100% HMO
------------------------------------------------------------------------------------------------------------------------------------
U.S. Health Insurance Company CT (1) (*) Primary Investments, Inc. 100% Accident and Health Insurance
Company
------------------------------------------------------------------------------------------------------------------------------------
Chickering Claims Administrators, MA (1) (**) Primary Investments, Inc. 47% Third Party Claims Administration
Inc. Business
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare of Georgia, GA (1) (*) Primary Investments, Inc. 63%(rr) HMO
Inc.
------------------------------------------------------------------------------------------------------------------------------------
Prudential Health Care Plan of GA (1) (*) Primary Investments, Inc. 100% HMO
Georgia, Inc.
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, Inc. OH (1) (*) Aetna Health Management, Inc. 100% HMO
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, Inc. MD (1) (*) Aetna Health Management, Inc. 41%(ss) HMO
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, Inc. FL (1) (*) Aetna Health Management, Inc. 100% HMO
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, Inc. TN (1) (*) Aetna Health Management, Inc. 100% HMO
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare of California CA (1)(*) Aetna Health Management, Inc. 100% HMO
Inc.
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, Inc. AZ (1) (*) Aetna Health Management, Inc. 100% HMO
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare Interactive DE (1) (*) Aetna Health Management, Inc. 20%(tt) Shell corp. set up to handle
Inc. health's internet portal
operations
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-----------------
(rr) Aetna Health Management, Inc. owns 37% of Aetna U.S. Healthcare of Georgia,
Inc.
(ss) NYLCare Health Plans, Inc. owns 44% and Primary Investments, Inc. owns 15%
of Aetna U.S. Healthcare, Inc. (MD)
29
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Health Plans of Central and PA (1) (*) Aetna Health Management, Inc. 100% HMO
Eastern Pennsylvania, Inc.
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare of Illinois, IL (1) (*) Aetna Health Management, Inc. 100% HMO
Inc.
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, Inc. LA (1) (*) Aetna Health Management, Inc. 100% HMO
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, Inc. TX (1) (*) Aetna Health Management, Inc. 100% HMO
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare of Georgia, GA (1) (*) Aetna Health Management, Inc. 37%(uu) HMO
Inc.
------------------------------------------------------------------------------------------------------------------------------------
MED Southwest, Inc. TX (1) (*) Aetna Health Management, Inc. 55% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare Dental Plan CA (1) (*) Aetna Health Management, Inc. 100% Provide Pre-Paid Dental Services
of California Inc.
------------------------------------------------------------------------------------------------------------------------------------
Aetna Dental Care of Kentucky, Inc. KY (1) (*) Aetna Health Management, Inc. 100% Dental Plan Organization
------------------------------------------------------------------------------------------------------------------------------------
Aetna Dental Care of New Jersey, NJ (1) (*) Aetna Health Management, Inc. 100% Dental Care
Inc.
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare Dental Plan TX (1) (*) Aetna Health Management, Inc. 100% HMO Offering Single Health Service
Inc. Plan - Dental
------------------------------------------------------------------------------------------------------------------------------------
AUSHC Holdings, Inc. DE (1) (*) Aetna Health Management, Inc. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna Government Health Plans, Inc. CA (1) (*) Aetna Health Management, Inc. 100% Sponsors Champus Business
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-----------------
(tt) U.S. Healthcare Financial Services, Inc. owns 80% of Aetna U.S. Healthcare
Interactive Inc.
(uu) Primary Investments, Inc. owns 63% of Aetna U.S. Healthcare of Georgia,
Inc.
30
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Informed Health, Inc. DE (1) (*) Aetna Health Management, Inc. 100% Sponsors Health Information
Service
------------------------------------------------------------------------------------------------------------------------------------
Prudential Health Care Plan of CA (1) (*) Aetna Health Management, Inc. 100% HMO
California, Inc.
------------------------------------------------------------------------------------------------------------------------------------
Prudential Dental Maintenance TX (1) (*) Aetna Health Management Inc. 100% HMO Offering Single Health Service
Organization, Inc. Plan (Dental)
------------------------------------------------------------------------------------------------------------------------------------
Southwest Physicians Life Insurance TX (1) (*) MED Southwest, Inc. 100% Life and Health Insurer
Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare of North TX (1) (*) MED Southwest, Inc. 100% HMO
Texas Inc.
------------------------------------------------------------------------------------------------------------------------------------
Aetna Health Plans of New Jersey, NJ (1) (*) AUSHC Holdings, Inc. 100% HMO
Inc.
------------------------------------------------------------------------------------------------------------------------------------
Lonestar Holding Co. DE (1) (*) NYLCare Health Plans, Inc. 100% Holding Company
------------------------------------------------------------------------------------------------------------------------------------
NYLCare of Texas, Inc. TX (1) (*) NYLCare Health Plans, Inc. 100% Management Company for PPO
------------------------------------------------------------------------------------------------------------------------------------
NYLCare Health Plans of PA (1) (*) NYLCare Health Plans, Inc. 100% HMO
Pennsylvania, Inc.
------------------------------------------------------------------------------------------------------------------------------------
One Liberty Plaza Holdings, Inc. DE (1) (*) NYLCare Health Plans, Inc. 100% Special Purpose Funding Entity for
Industrial Development Agency
Transaction
------------------------------------------------------------------------------------------------------------------------------------
Benefit Panel Services, Inc. CA (1) (*) NYLCare Health Plans, Inc. 100% Manages HMOs
------------------------------------------------------------------------------------------------------------------------------------
NYLCare Dental Plans of the TX (1) (*) NYLCare Health Plans, Inc. 100% Dental HMO
Southwest, Inc.
------------------------------------------------------------------------------------------------------------------------------------
Sanus Preferred Providers West, Inc. CA (1) (*) NYLCare Health Plans, Inc. 100% PPO
------------------------------------------------------------------------------------------------------------------------------------
NYLCare of New England, Inc. DE (1) (*) NYLCare Health Plans, Inc. 100% Management Company
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
31
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
NYLCare Health Plans of New York, NY (1) (*) NYLCare Health Plans, Inc. 100% HMO
Inc.
------------------------------------------------------------------------------------------------------------------------------------
NYLCare Health Plans of New Jersey, NJ (1) (*) NYLCare Health Plans, Inc. 100% HMO
Inc.
------------------------------------------------------------------------------------------------------------------------------------
NYLCare Health Plans of CT (1) (*) NYLCare Health Plans, Inc. 100% HMO
Connecticut, Inc.
------------------------------------------------------------------------------------------------------------------------------------
NYLCare Preferred Services, Inc. MD (1) (*) NYLCare Health Plans, Inc. 100% PPO
------------------------------------------------------------------------------------------------------------------------------------
Sanus of New York and New Jersey, NY (1) (*) NYLCare Health Plans, Inc. 100% PPO
Inc.
------------------------------------------------------------------------------------------------------------------------------------
Sanus Dental Plan of N.J., Inc. NJ (1) (*) NYLCare Health Plans, Inc. 100% Dental HMO
------------------------------------------------------------------------------------------------------------------------------------
The Ethix Corporation DE (1) (*) NYLCare Health Plans, Inc. 100% Holding Company of PPO Network
------------------------------------------------------------------------------------------------------------------------------------
Aetna US Healthcare, Inc. ME (1) (*) NYLCare Health Plans, Inc. 100% HMO
------------------------------------------------------------------------------------------------------------------------------------
New York Life and Health Insurance DE (1) (*) NYLCare Health Plans, Inc. 100% Reinsurance
Company
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare, Inc. MD (1) (*) NYLCare Health Plans, Inc. 44%(vv) HMO
------------------------------------------------------------------------------------------------------------------------------------
Lone star Health Plan, Inc. TX (1) (*) Lonestar Holding Co. 90%(ww) Holding Company
------------------------------------------------------------------------------------------------------------------------------------
NYLCare Passport PPO of the TX (1) (*) NYLCare of Texas, Inc. 100% PPO
Southwest, Inc.
------------------------------------------------------------------------------------------------------------------------------------
BPS HealthPlan Administrators CA (1) (*) Benefit Panel Services, Inc. 100% Third Party Administrator
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
-----------------
(vv) Aetna Health Management, Inc. owns 41% and Primary Investments, Inc. owns
15% of Aetna U.S. Healthcare, Inc. (MD)
(ww) NYLCare Health Plans, Inc. owns 10% of this company.
32
<PAGE>
June 30, 2000
COMPANY ORGANIZATION LIST
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
COMPANY STATE IMMEDIATE OWNER OWNERSHIP PRINCIPAL BUSINESS
PERCENTAGE+
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
VivaHealth, Incorporated CA (1) (*) Benefit Panel Services, Inc. 100% HMO
------------------------------------------------------------------------------------------------------------------------------------
Ethix Northwest, Inc. WA (1) (*) The Ethix Corporation 100% PPO
------------------------------------------------------------------------------------------------------------------------------------
Ethix Northwest Public Services, WA (1) (*) The Ethix Corporation 100% Managed Care Services to Medicaid
Inc. Recipients
------------------------------------------------------------------------------------------------------------------------------------
Ethix Midlands, Inc. DE (1) (*) The Ethix Corporation 100% PPO
------------------------------------------------------------------------------------------------------------------------------------
Aetna U.S. Healthcare of WA (1) (*) Ethix Northwest, Inc. 100% HMO
Washington, Inc.
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
33
<PAGE>
Item 27. Number of Contract Owners
----------------------------------
As of July 31, 2000, there were 602,683 individuals holding interests in
variable annuity contracts funded through Variable Annuity Account C.
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,
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,
<PAGE>
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 of the corporation. Pursuant to
Section 33-771(d), 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 and
international 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 and investment adviser for Portfolio
Partners, Inc. (a management investment company 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 Life Account C of Aetna, Variable Annuity Account B 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, 1999:
<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 $5,240,551 $159,707,139
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 C.
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
and
Opportunity Plus Service Center
18 Corporate Woods Blvd., Fourth Floor
Albany, NY 12211
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;
<PAGE>
(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
(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 complies with
the provisions of Paragraphs (1) through (4) of the SEC Staff's
No-Action Letter dated November 28, 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, [1988 WL 1235221 *13
(S.E.C.)].
(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 C 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.33-75962) 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 18th day of
August, 2000.
VARIABLE ANNUITY ACCOUNT C OF AETNA
LIFE INSURANCE AND ANNUITY COMPANY
(Registrant)
By: AETNA LIFE INSURANCE AND ANNUITY
COMPANY
(Depositor)
By: John Y. Kim*
---------------------------------------
John Y. Kim
President
As required by the Securities Act of 1933, this Post-Effective Amendment
No. 23 to the Registration Statement has been signed by the following persons in
the capacities and on the dates indicated.
<TABLE>
<CAPTION>
Signature Title Date
--------- ----- ----
<S> <C> <C>
John Y. Kim* Director and President )
------------------------------------- (principal executive officer) )
John Y. Kim )
)
)
Allan Baker* Director ) August
------------------------------------- )
Allan Baker ) 18, 2000
)
)
Catherine H. Smith* Director and Chief Financial Officer )
------------------------------------- )
Catherine H. Smith )
)
)
Deborah Koltenuk* Corporate Controller )
------------------------------------- )
Deborah Koltenuk )
By: /s/ Julie E. Rockmore
--------------------------------
Julie E. Rockmore
*Attorney-in-Fact
</TABLE>
<PAGE>
VARIABLE ANNUITY ACCOUNT C
Exhibit Index
<TABLE>
<CAPTION>
Exhibit No. Exhibit
----------- -------
<S> <C> <C>
99-B.9 Opinion and Consent of Counsel
-------------
99-B.10 Consent of Independent Auditors
-------------
</TABLE>
