<PAGE>
As filed with the Securities and Exchange Registration No. 33-81216
Commission on January 19, 2001 Registration No. 811-2513
-------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-4
-------------------------------------------------------------------------------
Post-Effective Amendment No. 16 To
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
and Amendment to
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
-------------------------------------------------------------------------------
Variable Annuity Account C of Aetna Life Insurance and Annuity Company
Aetna Life Insurance and Annuity Company
151 Farmington Avenue, TS31, Hartford, Connecticut 06156
Depositor's Telephone Number, including Area Code: (860) 273-4686
Julie E. Rockmore, Counsel
Aetna Life Insurance and Annuity Company
151 Farmington Avenue, TS31, Hartford, Connecticut 06156
(NAME AND ADDRESS OF AGENT FOR SERVICE)
-------------------------------------------------------------------------------
It is proposed that this filing will become effective:
60 days after filing pursuant to paragraph (a)(2) of Rule 485
-----
X on February 1, 2001 pursuant to paragraph (a)(1) of Rule 485
-----
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CROSS REFERENCE SHEET
<TABLE>
<CAPTION>
LOCATION - PROSPECTUS DATED MAY 1, 2000, AS
AMENDED BY SUPPLEMENTS DATED
DECEMBER 14, 2000 AND FEBRUARY 1, 2001
FORM N-4
ITEM NO. PART A (PROSPECTUS)
<S> <C> <C>
1 Cover Page........................................... Cover Page
2 Definitions.......................................... Not Applicable
3 Synopsis............................................. Contract Overview; Fee Table
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.............................. Fee Table; 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 or Participation; Your Account
Value
11 Redemptions.......................................... Right to Cancel
12 Taxes................................................ Taxation
13 Legal Proceedings.................................... Other Topics - Legal Matters and Proceedings
14 Table of Contents of the Statement of Additional
Information.......................................... Contents of the Statement of Additional
Information
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
LOCATION - STATEMENT OF ADDITIONAL INFORMATION
DATED MAY 1, 2000, AS AMENDED BY SUPPLEMENT
DATED DECEMBER 14, 2000
FORM N-4 PART B (STATEMENT OF
ITEM NO. ADDITIONAL INFORMATION)
<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
</TABLE>
PART C (OTHER INFORMATION)
Information required to be included in Part C is set forth under the appropriate
item, so numbered, in Part C to this Registration Statement.
<PAGE>
PARTS A AND B
The Prospectus and Statement of Additional Information each dated May 1,
2000, as amended, are incorporated in Parts A and B, respectively, of this
Post-Effective Amendment No. 16 by reference to Post-Effective Amendment No.
14 to the Registration Statement on Form N-4 (File No. 33-81216), as filed on
April 11, 2000 and declared effective on May 1, 2000 and by reference to
Registrant's filing under Rule 497(e), as filed on August 21, 2000 (File No.
333-81216) and by reference to Post-Effective Amendment No. 15 to the
Registration Statement on Form N-4 (File No. 33-81216), as filed on and
declared effective on December 14, 2000 (File No. 33-81216).
A Supplement dated February 1, 2001 to the Prospectus and Statement of
Additional Information is included in Parts A and B, respectively, of this
Post-Effective Amendment.
<PAGE>
VARIABLE ANNUITY ACCOUNT C
AETNA LIFE INSURANCE AND ANNUITY COMPANY
SUPPLEMENT DATED FEBRUARY 1, 2001 TO PROSPECTUS DATED MAY 1, 2000
AND AS AMENDED BY SUPPLEMENT DATED DECEMBER 14, 2000
The information in this supplement updates and amends certain information
contained in the Prospectus dated May 1, 2000 and as amended by supplement dated
December 14, 2000. You should read this supplement along with the Prospectus.
- The following paragraphs are added as subsections to the section entitled
"Transfers":
THE DOLLAR COST AVERAGING PROGRAM. Subject to state approval, the contracts
allow you to participate in our Dollar Cost Averaging Program. There is no
additional charge for this service. Dollar cost averaging is a system for
investing that buys fixed dollar amounts of an investment at regular
intervals, regardless of price. Our program transfers, at regular intervals,
a fixed dollar amount from Aetna Money Market VP to the Fixed Plus Account,
GAA, or one or more subaccounts that you select. Amounts transferred to or
from the Fixed Plus Account and subsequently withdrawn from the contract
during the accumulation phase may be subject to the Fixed Plus Account
transfer and partial surrender restrictions. (See Appendix II). Amounts
transferred from the Guaranteed Accumulation Account before the end of a
guaranteed term may be subject to a market value adjustment. (See Appendix I
and the Guaranteed Accumulation Account prospectus.) Dollar cost averaging
is not permitted into the Lexington Natural Resources Trust subaccount.
Dollar cost averaging neither ensures a profit nor guarantees against loss
in a declining market. You should consider your financial ability to
continue purchases through periods of low price levels. For additional
information about this program, contact your local representative or call
the Company at the number listed in "Contract Overview--Questions." This
program is not available to participants in the Account Rebalancing Program.
THE ACCOUNT REBALANCING PROGRAM. Subject to state approval, this program
allows you to have portions of your account value automatically reallocated
to specified percentages on a scheduled basis. There is no additional charge
for this service. Only account values invested in the subaccounts (excluding
the Aetna GET Fund subaccount) are eligible to be rebalanced. Account values
invested in the Guaranteed Accumulation Account and the Fixed Plus Account
are not eligible to be rebalanced. To elect to participate in the Account
Rebalancing Program, contact the Aetna Service Center. This program is not
available to participants in the Dollar Cost Averaging Program.
- Subject to state approval, the following two sections are revised to delete
the requirement that transferred funds under the modal contract must be from
another investment provider under the SUNY Plan.
The following replaces item number 2 in the section entitled "Contract
Purchase or Participation--Contracts Available for Purchase":
2) The modal contracts for ongoing contributions and transferred assets made
to the SUNY Plan, a plan qualified under sections 401(a) and 414(h) of the
Code.
The following replaces the second bullet in the section entitled "Contract
Purchase or Participation--Participating in the Contract":
--Under the modal contract, we will allocate funds attributable to Code
section 414(h) contributions to an employee account, and ongoing payments
under Code section 401(a) and transferred funds attributable to Code section
401(a) contributions from another investment provider to an employer
account.
- Throughout the prospectus, the name of the Aetna Processing Office has been
changed to the Aetna Service Center.
X.81216-00
<PAGE>
- Appendix IV--Condensed Financial Information, is amended to include
financial data for the nine-month period ended September 30, 2000, as
follows:
CONDENSED FINANCIAL INFORMATION
------------------------------------------------------------------
(SELECTED DATA FOR ACCUMULATION UNITS OUTSTANDING THROUGHOUT EACH PERIOD)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
THE CONDENSED FINANCIAL INFORMATION PRESENTED BELOW FOR THE NINE-MONTH PERIOD
ENDED SEPTEMBER 30, 2000 IS DERIVED FROM THE UNAUDITED INTERIM FINANCIAL
STATEMENTS OF THE SEPARATE ACCOUNT. THE FINANCIAL STATEMENTS FOR THE NINE-MONTH
PERIOD ENDED SEPTEMBER 30, 2000 ARE INCLUDED IN THE MAY 1, 2000 STATEMENT OF
ADDITIONAL INFORMATION AS AMENDED ON FEBRUARY 1, 2001.
<TABLE>
<S> <C>
AETNA ASCENT VP
Value at beginning of period $17.940
Value at end of period $18.475
Number of accumulation units outstanding at end of
period 5,766
AETNA BALANCED VP, INC.
Value at beginning of period $32.002
Value at end of period $32.796
Number of accumulation units outstanding at end of
period 164,792
AETNA BOND VP
Value at beginning of period $53.738
Value at end of period $56.008
Number of accumulation units outstanding at end of
period 136,553
AETNA CROSSROADS VP
Value at beginning of period $16.458
Value at end of period $16.843
Number of accumulation units outstanding at end of
period 1,529
AETNA GROWTH AND INCOME VP
Value at beginning of period $284.994
Value at end of period $277.132
Number of accumulation units outstanding at end of
period 31,420
AETNA INDEX PLUS LARGE CAP VP
Value at beginning of period $23.044
Value at end of period $22.565
Number of accumulation units outstanding at end of
period 1,156,729
AETNA INDEX PLUS MID CAP VP
Value at beginning of period $12.967
Value at end of period $16.213
Number of accumulation units outstanding at end of
period 56,704
AETNA INDEX PLUS SMALL CAP VP
Value at beginning of period $10.019
Value at end of period $10.591
Number of accumulation units outstanding at end of
period 43,932
AETNA LEGACY VP
Value at beginning of period $15.070
Value at end of period $15.709
Number of accumulation units outstanding at end of
period 0
AETNA MONEY MARKET VP
Value at beginning of period $44.501
Value at end of period $46.142
Number of accumulation units outstanding at end of
period 239,831
AETNA VALUE OPPORTUNITY VP
Value at beginning of period $14.274
Value at end of period $15.655
Number of accumulation units outstanding at end of
period 51,143
CALVERT SOCIAL BALANCED PORTFOLIO
Value at beginning of period $30.131
Value at end of period $31.035
Number of accumulation units outstanding at end of
period 68,435
FIDELITY VIP EQUITY-INCOME PORTFOLIO
Value at beginning of period $19.201
Value at end of period $19.833
Number of accumulation units outstanding at end of
period 370,747
FIDELITY VIP HIGH INCOME PORTFOLIO
Value at beginning of period $9.638
Value at end of period $8.624
Number of accumulation units outstanding at end of
period 172,465
FIDELITY VIP II ASSET MANAGER PORTFOLIO
Value at beginning of period $18.343
Value at end of period $18.157
Number of accumulation units outstanding at end of
period 123,473
FIDELITY VIP II CONTRAFUND PORTFOLIO
Value at beginning of period $27.214
Value at end of period $26.946
Number of accumulation units outstanding at end of
period 594,623
FIDELITY VIP II INDEX 500 PORTFOLIO
Value at beginning of period $28.147
Value at end of period $27.438
Number of accumulation units outstanding at end of
period 615,746
</TABLE>
<PAGE>
CONDENSED FINANCIAL INFORMATION (CONTINUED)
------------------------------------------------------------------
<TABLE>
<S> <C>
JANUS ASPEN AGGRESSIVE GROWTH PORTFOLIO
Value at beginning of period $53.644
Value at end of period $52.756
Number of accumulation units outstanding at end of
period 685,171
JANUS ASPEN GROWTH PORTFOLIO
Value at beginning of period $32.036
Value at end of period $32.677
Number of accumulation units outstanding at end of
period 1,115,853
JANUS ASPEN WORLDWIDE GROWTH PORTFOLIO
Value at beginning of period $38.648
Value at end of period $37.014
Number of accumulation units outstanding at end of
period 1,599,452
LEXINGTON EMERGING MARKETS FUND, INC.
Value at beginning of period $12.315
Value at end of period $8.591
Number of accumulation units outstanding at end of
period 260,406
LEXINGTON NATURAL RESOURCES TRUST
Value at beginning of period $12.882
Value at end of period $13.981
Number of accumulation units outstanding at end of
period 144,288
MFS TOTAL RETURN SERIES
Value at beginning of period $10.720
Value at end of period $11.662
Number of accumulation units outstanding at end of
period 5,651
OPPENHEIMER GLOBAL SECURITIES FUND/VA
Value at beginning of period $16.126
Value at end of period $17.398
Number of accumulation units outstanding at end of
period 86,853
OPPENHEIMER STRATEGIC BOND FUND/VA
Value at beginning of period $10.089
Value at end of period $10.280
Number of accumulation units outstanding at end of
period 138,170
PORTFOLIO PARTNERS MFS CAPITAL OPPORTUNITIES
PORTFOLIO
Value at beginning of period $43.112
Value at end of period $46.380
Number of accumulation units outstanding at end of
period 521,019
PORTFOLIO PARTNERS MFS EMERGING EQUITIES PORTFOLIO
Value at beginning of period $28.710
Value at end of period $25.838
Number of accumulation units outstanding at end of
period 631,098
PORTFOLIO PARTNERS MFS RESEARCH GROWTH PORTFOLIO
Value at beginning of period $17.796
Value at end of period $21.026
Number of accumulation units outstanding at end of
period 133,650
PORTFOLIO PARTNERS SCUDDER INTERNATIONAL GROWTH
PORTFOLIO
Value at beginning of period $32.585
Value at end of period $26.534
Number of accumulation units outstanding at end of
period 263,078
PORTFOLIO PARTNERS T. ROWE PRICE GROWTH PORTFOLIO
Value at beginning of period $25.283
Value at end of period $27.318
Number of accumulation units outstanding at end of
period 277,528
</TABLE>
X.81216-00
<PAGE>
VARIABLE ANNUITY ACCOUNT C
AETNA LIFE INSURANCE AND ANNUITY COMPANY
SUPPLEMENT DATED FEBRUARY 1, 2001 TO
STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 2000 AND
AS AMENDED BY SUPPLEMENT DATED DECEMBER 14, 2000
The information in this supplement updates and amends certain information
contained in the Statement of Additional Information dated May 1, 2000 and as
amended by supplement dated December 14, 2000. You should read this supplement
along with the Statement of Additional Information.
- The following is added to the section entitled "Average Annual Total Return
Quotations - Standardized and Non-Standardized":
The tables below reflect the average annual standardized and
non-standardized total return quotation figures for the period ended
September 30, 2000.
<TABLE>
<CAPTION>
---------------------------------------------------------------
DATE
CONTRIBUTIONS
FIRST RECEIVED
UNDER THE
SEPARATE
STANDARDIZED ACCOUNT
------------------------------------------------------------------------------------------------------------------------------------
SINCE
SUBACCOUNT 1 YEAR 5 YEAR 10 YEAR INCEPTION*
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Aetna Ascent VP 13.79% 12.45% 13.04% 07/05/1995
------------------------------------------------------------------------------------------------------------------------------------
Aetna Balanced VP, Inc.(1) 12.37% 13.81% 12.32%
------------------------------------------------------------------------------------------------------------------------------------
Aetna Bond VP(1) 3.43% 4.42% 6.48%
------------------------------------------------------------------------------------------------------------------------------------
Aetna Crossroads VP 10.23% 10.43% 10.96% 07/05/1995
------------------------------------------------------------------------------------------------------------------------------------
Aetna Growth and Income VP(1) 8.97% 16.02% 14.45%
------------------------------------------------------------------------------------------------------------------------------------
Aetna Index Plus Large Cap VP 14.33% 21.75% 10/31/1996
------------------------------------------------------------------------------------------------------------------------------------
Aetna Index Plus Mid Cap VP 48.90% 19.66% 05/04/1998
------------------------------------------------------------------------------------------------------------------------------------
Aetna Index Plus Small Cap VP 17.22% 0.82% 05/04/1998
------------------------------------------------------------------------------------------------------------------------------------
Aetna Legacy VP 9.15% 8.93% 9.36% 07/05/1995
------------------------------------------------------------------------------------------------------------------------------------
Aetna Money Market VP(1)(2) 4.82% 4.20% 3.86%
------------------------------------------------------------------------------------------------------------------------------------
Aetna Value Opportunity VP 26.59% 21.04% 05/30/1997
------------------------------------------------------------------------------------------------------------------------------------
Calvert Social Balanced Portfolio(1) 12.80% 12.31% 11.34%
------------------------------------------------------------------------------------------------------------------------------------
Fidelity VIP Equity-Income Portfolio 6.40% 12.56% 14.66% 05/31/1994
------------------------------------------------------------------------------------------------------------------------------------
Fidelity VIP High Income Portfolio (7.27%) (5.99%) 05/12/1998
------------------------------------------------------------------------------------------------------------------------------------
Fidelity VIP II Asset Manager Portfolio 7.36% 11.49% 10.18% 03/31/1994
------------------------------------------------------------------------------------------------------------------------------------
Fidelity VIP II Contrafund-Registered Trademark- Portfolio 15.84% 18.00% 20.53% 05/31/1995
------------------------------------------------------------------------------------------------------------------------------------
Fidelity VIP II Index 500 Portfolio 11.55% 19.80% 20.57% 05/31/1995
------------------------------------------------------------------------------------------------------------------------------------
Janus Aspen Aggressive Growth Portfolio 56.22% 29.35% 30.61% 06/30/1994
------------------------------------------------------------------------------------------------------------------------------------
Janus Aspen Growth Portfolio 25.63% 23.58% 24.26% 06/30/1995
------------------------------------------------------------------------------------------------------------------------------------
Janus Aspen Worldwide Growth Portfolio 35.80% 26.17% 27.74% 05/31/1995
------------------------------------------------------------------------------------------------------------------------------------
Lexington Emerging Markets Fund, Inc. 26.00% (0.05%) (2.28%) 10/31/1994
------------------------------------------------------------------------------------------------------------------------------------
Lexington Natural Resources Trust 12.59% 5.85% 5.26% 10/14/1991
------------------------------------------------------------------------------------------------------------------------------------
MFS Total Return Series 11.52% 5.95% 05/26/1998
------------------------------------------------------------------------------------------------------------------------------------
Oppenheimer Global Securities Fund/VA 47.27% 23.99% 05/04/1998
------------------------------------------------------------------------------------------------------------------------------------
Oppenheimer Strategic Bond Fund/VA 4.09% 0.93% 05/07/1998
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
PPI MFS Capital Opportunities Portfolio 38.63% 27.82% 11/28/1997
------------------------------------------------------------------------------------------------------------------------------------
Neuberger Berman AMT Growth/PPI MFS Capital Opportunities(3) 38.63% 20.64% 17.70%
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
PPI MFS Emerging Equities Portfolio 20.52% 20.45% 11/28/1997
------------------------------------------------------------------------------------------------------------------------------------
Alger American Small Cap/PPI MFS Emerging Equities(3) 20.52% 11.82% 14.74% 09/30/1993
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
PPI MFS Research Growth Portfolio 31.31% 17.39% 11/28/1997
------------------------------------------------------------------------------------------------------------------------------------
American Century VP Capital Appreciation/PPI MFS Research Growth(3) 31.31% 6.91% 10.26% 08/31/1992
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
PPI Scudder International Growth Portfolio 6.27% 15.82% 11/28/1997
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
X.SAI81216-00
<PAGE>
<TABLE>
<CAPTION>
---------------------------------------------------------------
DATE
CONTRIBUTIONS
FIRST RECEIVED
UNDER THE
SEPARATE
STANDARDIZED ACCOUNT
------------------------------------------------------------------------------------------------------------------------------------
SINCE
SUBACCOUNT 1 YEAR 5 YEAR 10 YEAR INCEPTION*
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Scudder International Portfolio Class A/PPI Scudder International
Growth(3) 6.27% 12.76% 11.35%
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
PPI T. Rowe Price Growth Equity Portfolio 28.55% 20.01% 11/28/1997
------------------------------------------------------------------------------------------------------------------------------------
Alger American Growth/PPI T. Rowe Price Growth Equity(3) 28.55% 17.22% 21.00% 10/31/1994
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Please refer to the discussion preceding the tables for an explanation of the
charges included and methodology used in calculating the standardized and
non-standardized figures. These figures represent historical performance and
should not be considered a projection of future performance.
* Reflects performance from the date contributions were first received in the
fund under the separate account.
(1) These funds have been available through the separate account for more than
ten years.
(2) The current yield for the subaccount for the seven-day period ended
September 30, 2000 (on an annualized basis) was 5.11%. Current yield more
closely reflects current earnings than does total return. The current yield
reflects the deduction of all charges under the contract that are deducted
from the total return quotations shown above.
(3) The fund first listed was replaced with the applicable Portfolio Partners
Portfolio after the close of business on November 26, 1997. The performance
shown is based on the performance of the replaced fund until November 26,
1997, and the performance of the applicable Portfolio Partners Portfolio
after that date. The replaced fund may not have been available under all
contracts. The "Date Contributions First Received Under the Separate
Account" refers to the applicable date for the replaced fund. If no date is
shown, contributions were first received in the replaced fund under the
separate account more than ten years ago.
<PAGE>
<TABLE>
<CAPTION>
--------------------------------------------------------------------
FUND
INCEPTION
NON-STANDARDIZED DATE
------------------------------------------------------------------------------------------------------------------------------------
SINCE
SUBACCOUNT 1 YEAR 3 YEARS 5 YEARS 10 YEARS INCEPTION**
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Aetna Ascent VP 13.79% 5.75% 12.45% 13.04% 07/05/1995
------------------------------------------------------------------------------------------------------------------------------------
Aetna Balanced VP, Inc.(1) 12.37% 10.53% 13.81% 12.32%
------------------------------------------------------------------------------------------------------------------------------------
Aetna Bond VP(1) 3.43% 3.44% 4.42% 6.48%
------------------------------------------------------------------------------------------------------------------------------------
Aetna Crossroads VP 10.23% 4.99% 10.43% 10.96% 07/05/1995
------------------------------------------------------------------------------------------------------------------------------------
Aetna Growth and Income VP(1) 8.97% 7.72% 16.02% 14.45%
------------------------------------------------------------------------------------------------------------------------------------
Aetna Index Plus Large Cap VP 14.33% 16.97% 22.33% 09/16/1996
------------------------------------------------------------------------------------------------------------------------------------
Aetna Index Plus Mid Cap VP 48.90% 23.84% 12/16/1997
------------------------------------------------------------------------------------------------------------------------------------
Aetna Index Plus Small Cap VP 17.22% 5.96% 12/19/1997
------------------------------------------------------------------------------------------------------------------------------------
Aetna Legacy VP 9.15% 5.26% 8.93% 9.36% 07/05/1995
------------------------------------------------------------------------------------------------------------------------------------
Aetna Money Market VP(1)(2) 4.82% 4.24% 4.20% 3.86%
------------------------------------------------------------------------------------------------------------------------------------
Aetna Value Opportunity VP 26.59% 15.78% 23.07% 12/13/1996
------------------------------------------------------------------------------------------------------------------------------------
Calvert Social Balanced Portfolio(1) 12.80% 9.59% 12.31% 11.34%
------------------------------------------------------------------------------------------------------------------------------------
Fidelity VIP Equity-Income Portfolio(1) 6.40% 6.74% 12.56% 16.22%
------------------------------------------------------------------------------------------------------------------------------------
Fidelity VIP High Income Portfolio(1) (7.27%) (3.13%) 3.87% 10.31%
------------------------------------------------------------------------------------------------------------------------------------
Fidelity VIP II Asset Manager Portfolio(1) 7.36% 7.91% 11.49% 11.92%
------------------------------------------------------------------------------------------------------------------------------------
Fidelity VIP II Contrafund-Registered Trademark- Portfolio 15.84% 15.35% 18.00% 22.19% 01/03/1995
------------------------------------------------------------------------------------------------------------------------------------
Fidelity VIP II Index 500 Portfolio 11.55% 14.63% 19.80% 17.25% 08/27/1992
------------------------------------------------------------------------------------------------------------------------------------
Janus Aspen Aggressive Growth Portfolio 56.22% 43.37% 29.35% 28.52% 09/13/1993
------------------------------------------------------------------------------------------------------------------------------------
Janus Aspen Growth Portfolio 25.63% 24.22% 23.58% 20.44% 09/13/1993
------------------------------------------------------------------------------------------------------------------------------------
Janus Aspen Worldwide Growth Portfolio 35.80% 23.94% 26.17% 24.02% 09/13/1993
------------------------------------------------------------------------------------------------------------------------------------
Lexington Emerging Markets Fund, Inc. 26.00% (4.09%) (0.05%) (0.35%) 03/30/1994
------------------------------------------------------------------------------------------------------------------------------------
Lexington Natural Resources Trust 12.59% (5.67%) 5.85% 5.26% 10/14/1991
------------------------------------------------------------------------------------------------------------------------------------
MFS Total Return Series 11.52% 8.02% 12.03% 13.71% 01/03/1995
------------------------------------------------------------------------------------------------------------------------------------
Oppenheimer Global Securities Fund/VA 47.27% 22.80% 20.77% 14.99% 11/12/1990
------------------------------------------------------------------------------------------------------------------------------------
Oppenheimer Strategic Bond Fund/VA 4.09% 1.98% 5.35% 4.63% 05/03/1993
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
PPI MFS Capital Opportunities Portfolio 38.63% 27.76% 11/28/1997
------------------------------------------------------------------------------------------------------------------------------------
Neuberger Berman AMT Growth/PPI MFS Capital Opportunities(3) 38.63% 23.63% 20.64% 17.70%
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
PPI MFS Emerging Equities Portfolio 20.52% 20.45% 11/28/1997
------------------------------------------------------------------------------------------------------------------------------------
Alger American Small Cap/PPI MFS Emerging Equities(3) 20.52% 16.32% 11.82% 18.29%
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
PPI MFS Research Growth Portfolio 31.31% 17.38% 11/28/1997
------------------------------------------------------------------------------------------------------------------------------------
American Century VP Capital Appreciation/PPI MFS Research
Growth(3) 31.31% 11.85% 6.91% 11.23%
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
PPI Scudder International Growth Portfolio 6.27% 15.90% 11/28/1997
------------------------------------------------------------------------------------------------------------------------------------
Scudder International Growth Class A/PPI Scudder International
Growth(3) 6.27% 12.08% 12.76% 11.35%
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
PPI T. Rowe Price Growth Equity Portfolio 28.55% 19.96% 11/28/1997
------------------------------------------------------------------------------------------------------------------------------------
Alger American Growth/PPI T. Rowe Price Growth Equity(3) 28.55% 17.33% 17.22% 20.73%
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Please refer to the discussion preceding the tables for an explanation of the
charges included and methodology used in calculating the standardized and
non-standardized figures. These figures represent historical performance and
should not be considered a projection of future performance.
** Reflects performance from the fund's inception date.
(1) These funds have been in operation for more than ten years.
(2) The current yield for the subaccount for the seven-day period ended
September 30, 2000 (on an annualized basis) was 5.11%. Current yield more
closely reflects current earnings than does total return. The current yield
reflects the deduction of all charges under the contract that are deducted
from the total return quotations shown above.
(3) The fund first listed was replaced with the applicable Portfolio Partners
Portfolio after the close of business on November 26, 1997. The performance
shown is based on the performance of the replaced fund until November 26,
1997, and the performance of the applicable Portfolio Partners Portfolio
after that date. The replaced fund may not have been available under all
contracts. The "Fund Inception Date" refers to the applicable date for the
replaced fund. If no date is shown, the replaced fund has been in operation
for more than ten years.
- The following unaudited financial statements for the period ended September
30, 2000 are added to the Financial Statement sections:
X.SAI81216-00
<PAGE>
VARIABLE ANNUITY ACCOUNT C
INDEX TO FINANCIALS FOR PERIOD ENDED SEPTEMBER 30, 2000
<TABLE>
<CAPTION>
PAGE
-----
<S> <C>
Statement of Assets and
Liabilities as of
September 30, 2000
(unaudited).................... S-48
Statement of Operations for the
Nine Month Period Ended
September 30, 2000
(unaudited).................... S-53
Statements of Changes in Net
Assets for the Nine Month
Periods Ended September 30,
2000 and September 30, 1999
(unaudited).................... S-53
Condensed Financial Information
for the Nine Month Period Ended
September 30, 2000
(unaudited).................... S-54
Notes to Financial Statements
(unaudited).................... S-84
</TABLE>
S-47
<PAGE>
VARIABLE ANNUITY ACCOUNT C
STATEMENT OF ASSETS AND LIABILITIES - September 30, 2000 (Unaudited)
ASSETS:
Investments, at net asset value: (Note 1)
<TABLE>
<CAPTION>
Net
Shares Cost Assets
------ ---- ------
<S> <C> <C> <C>
Aetna Ascent VP: 5,202,054 $ 75,537,157 $ 79,747,484
Aetna Balanced VP, Inc.: 59,618,425 901,441,296 929,451,246
Aetna Bond VP: 23,145,696 298,345,540 292,561,594
Aetna Crossroads VP: 4,593,708 62,291,133 64,174,094
Aetna Get Fund, Series C: 13,130,863 151,176,320 151,530,158
Aetna Get Fund, Series D: 34,218,401 344,892,492 352,449,530
Aetna Get Fund, Series E: 13,272,806 133,676,663 140,426,289
Aetna Get Fund, Series G: 3,895,608 39,274,209 39,696,241
Aetna Get Fund, Series H: 2,943,118 29,757,522 30,843,874
Aetna Get Fund, Series I: 149,474 1,508,672 1,518,654
Aetna Get Fund, Series J: 46,787 472,334 465,531
Aetna Get Fund, Series K: 8,430 84,588 84,672
Aetna Growth and Income VP: 186,409,938 6,007,628,270 5,376,062,605
Aetna Growth VP: 11,195,911 167,964,484 202,645,984
Aetna Index Plus Large Cap VP: 26,453,126 472,260,820 522,449,233
Aetna Index Plus Mid Cap VP: 1,711,415 23,970,802 26,424,250
Aetna Index Plus Small Cap VP: 911,072 10,113,866 10,595,767
Aetna International VP: 1,024,097 16,351,000 14,337,357
Aetna Legacy VP: 3,100,369 39,038,802 39,963,753
Aetna Money Market VP: 23,527,744 311,815,277 314,996,495
Aetna Small Company VP: 6,056,116 107,361,170 109,676,259
Aetna Technology VP: 2,623,455 25,668,842 23,479,921
Aetna Value Opportunity VP: 2,834,926 42,648,652 43,686,203
AIM V.I. Funds:
Capital Appreciation Fund: 462,341 17,997,004 18,826,545
Growth and Income Fund: 1,356,725 42,650,809 43,767,933
Growth Fund: 652,560 21,658,474 21,521,443
Value Fund: 622,438 20,390,620 19,488,521
Calvert Social Balanced
Portfolio: 29,834,586 58,940,622 67,276,992
Fidelity Investments Variable
Insurance Products Fund:
Equity-Income Portfolio: 7,490,481 171,317,268 183,816,408
Growth Portfolio: 10,118,503 417,336,102 503,699,058
High Income Portfolio: 306,087 3,199,090 2,917,005
Overseas Portfolio: 899,118 21,450,920 19,564,802
Fidelity Investments Variable Insurance
Products Fund II:
Asset Manager Portfolio: 1,511,207 24,714,815 25,146,490
Contrafund Portfolio: 17,871,433 363,391,775 454,113,123
Index 500 Portfolio: 711,270 105,623,109 115,382,220
</TABLE>
S-48
<PAGE>
VARIABLE ANNUITY ACCOUNT C
STATEMENT OF ASSETS AND LIABILITIES - September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
Net
Shares Cost Assets
------ ---- ------
<S> <C> <C> <C>
Janus Aspen Series:
Aggressive Growth Portfolio: 26,024,402 $ 1,053,242,612 $ 1,375,389,645
Balanced Portfolio: 11,602,403 270,822,238 291,568,388
Flexible Income Portfolio: 3,069,824 36,048,361 34,750,412
Growth Portfolio: 15,592,870 412,830,502 497,880,338
Worldwide Growth Portfolio: 29,437,237 911,758,315 1,249,905,064
Lexington Emerging Markets Fund: 935,594 10,157,180 8,439,062
Lexington Natural Resources Trust
Fund: 1,162,141 15,137,495 15,863,230
MFS Funds:
Total Return Series: 53,762 943,106 996,751
Oppenheimer Funds:
Global Securities Fund/VA: 1,125,664 37,061,011 35,379,609
Strategic Bond Fund/VA: 1,140,541 5,461,212 5,360,543
Portfolio Partners, Inc. (PPI):
PPI MFS Capital Opportunities
Portfolio: 6,130,692 246,960,577 313,584,917
PPI MFS Emerging Equities
Portfolio: 7,382,741 364,340,749 549,571,217
PPI MFS Research Growth
Portfolio: 17,692,080 188,019,486 264,142,752
PPI Scudder International Growth
Portfolio: 12,355,443 262,426,507 232,900,109
PPI T. Rowe Price Growth Equity
Portfolio: 3,901,450 187,930,310 257,261,592
--------------- ---------------
NET ASSETS $14,535,090,180 $15,375,781,363
=============== ===============
</TABLE>
S-49
<PAGE>
VARIABLE ANNUITY ACCOUNT C
STATEMENT OF ASSETS AND LIABILITIES - September 30, 2000 (Unaudited and
continued):
NET ASSETS REPRESENTED BY:
Reserves for annuity contracts in accumulation and payment period: (Notes 1 and
6)
<TABLE>
<S> <C>
Aetna Ascent VP:
Annuity contracts in accumulation............. $ 79,747,484
Aetna Balanced VP, Inc.:
Annuity contracts in accumulation............. 894,471,329
Annuity contracts in payment period........... 34,979,917
Aetna Bond VP:
Annuity contracts in accumulation............. 286,825,905
Annuity contracts in payment period........... 5,735,689
Aetna Crossroads VP:
Annuity contracts in accumulation............. 64,102,720
Annuity contracts in payment period........... 71,374
Aetna Get Fund, Series C:
Annuity contracts in accumulation............. 151,530,158
Aetna Get Fund, Series D:
Annuity contracts in accumulation............. 352,449,530
Aetna Get Fund, Series E:
Annuity contracts in accumulation............. 140,426,289
Aetna Get Fund, Series G:
Annuity contracts in accumulation............. 39,696,241
Aetna Get Fund, Series H:
Annuity contracts in accumulation............. 30,843,874
Aetna Get Fund, Series I:
Annuity contracts in accumulation............. 1,518,654
Aetna Get Fund, Series J:
Annuity contracts in accumulation............. 465,531
Aetna Get Fund, Series K:
Annuity contracts in accumulation............. 84,672
Aetna Growth and Income VP:
Annuity contracts in accumulation............. 5,026,037,273
Annuity contracts in payment period........... 350,025,332
Aetna Growth VP:
Annuity contracts in accumulation............. 202,458,428
Annuity contracts in payment period........... 187,556
Aetna Index Plus Large Cap VP:
Annuity contracts in accumulation............. 520,347,045
Annuity contracts in payment period........... 2,102,188
Aetna Index Plus Mid Cap VP:
Annuity contracts in accumulation............. 26,424,250
Aetna Index Plus Small Cap VP:
Annuity contracts in accumulation............. 10,595,767
Aetna International VP:
Annuity contracts in accumulation............. 14,337,357
Aetna Legacy VP:
Annuity contracts in accumulation............. 203,595
Annuity contracts in payment period........... 39,760,158
</TABLE>
S-50
<PAGE>
VARIABLE ANNUITY ACCOUNT C
STATEMENT OF ASSETS AND LIABILITIES - September 30, 2000 (Unaudited and
continued):
<TABLE>
<S> <C>
Aetna Money Market VP:
Annuity contracts in accumulation............. $ 314,916,923
Annuity contracts in payment period........... 79,572
Aetna Small Company VP:
Annuity contracts in accumulation............. 109,635,112
Annuity contracts in payment period........... 41,147
Aetna Technology VP
Annuity contracts in accumulation............. 23,479,921
Aetna Value Opportunity VP:
Annuity contracts in accumulation............. 43,686,203
AIM V.I. Funds:
Capital Appreciation Fund:
Annuity contracts in accumulation............. 18,826,545
Growth and Income Fund:
Annuity contracts in accumulation............. 43,767,933
Growth Fund:
Annuity contracts in accumulation............. 21,521,443
Value Fund:
Annuity contracts in accumulation............. 19,488,521
Calvert Social Balanced Portfolio:
Annuity contracts in accumulation............. 67,276,992
Fidelity Investments Variable Insurance Products
Fund:
Equity-Income Portfolio:
Annuity contracts in accumulation............. 183,816,408
Growth Portfolio:
Annuity contracts in accumulation............. 503,699,058
High Income Portfolio:
Annuity contracts in accumulation............. 2,917,005
Overseas Portfolio:
Annuity contracts in accumulation............. 19,564,802
Fidelity Investments Variable Insurance Products
Fund II:
Asset Manager Portfolio:
Annuity contracts in accumulation............. 25,146,490
Contrafund Portfolio:
Annuity contracts in accumulation............. 454,113,123
Index 500 Portfolio:
Annuity contracts in accumulation............. 115,382,220
Janus Aspen Series:
Aggressive Growth Portfolio:
Annuity contracts in accumulation............. 1,375,389,645
Balanced Portfolio:
Annuity contracts in accumulation............. 291,568,388
Flexible Income Portfolio:
Annuity contracts in accumulation............. 34,750,412
</TABLE>
S-51
<PAGE>
VARIABLE ANNUITY ACCOUNT C
STATEMENT OF ASSETS AND LIABILITIES - September 30, 2000 (Unaudited and
continued):
<TABLE>
<S> <C>
Growth Portfolio:
Annuity contracts in accumulation............. $ 1,127,802
Annuity contracts in payment period........... 496,752,536
Worldwide Growth Portfolio:
Annuity contracts in accumulation............. 1,200,854
Annuity contracts in payment period........... 1,248,704,210
Lexington Emerging Markets Fund:
Annuity contracts in accumulation............. 8,439,062
Lexington Natural Resources Trust Fund:
Annuity contracts in accumulation............. 15,863,230
MFS Funds:
Total Return Series:
Annuity contracts in accumulation............. 996,751
Oppenheimer Funds:
Global Securities Fund/VA:
Annuity contracts in accumulation............. 35,379,609
Strategic Bond Fund/VA:
Annuity contracts in accumulation............. 23,455
Annuity contracts in payment period........... 5,337,088
Portfolio Partners, Inc. (PPI):
PPI MFS Capital Opportunities Portfolio:
Annuity contracts in accumulation............. 313,217,320
Annuity contracts in payment period........... 367,597
PPI MFS Emerging Equities Portfolio:
Annuity contracts in accumulation............. 549,431,632
Annuity contracts in payment period........... 139,585
PPI MFS Research Growth Portfolio:
Annuity contracts in accumulation............. 264,142,752
PPI Scudder International Growth Portfolio:
Annuity contracts in accumulation............. 232,889,808
Annuity contracts in payment period........... 10,301
PPI T. Rowe Price Growth Equity Portfolio:
Annuity contracts in accumulation............. 64,376
Annuity contracts in payment period........... 257,197,216
--------------
$15,375,781,363
==============
</TABLE>
See Notes to Financial Statements
S-52
<PAGE>
VARIABLE ANNUITY ACCOUNT C
STATEMENT OF OPERATIONS (UNAUDITED)
<TABLE>
<CAPTION>
PERIOD ENDED
SEPTEMBER 30, 2000
(UNAUDITED)
------------------
<S> <C>
INVESTMENT INCOME:
Income: (Notes 1, 3 and 5)
Dividends....................................... $ 920,525,538
Expenses: (Notes 2 and 5)
Valuation period deductions..................... (134,405,965)
--------------
Net investment income............................. $ 786,119,573
--------------
NET REALIZED AND UNREALIZED GAIN ON INVESTMENTS:
Net realized gain on sales of investments: (Notes
1, 4 and 5)
Proceeds from sales............................. $3,040,080,663
Cost of investments sold........................ 2,720,079,850
--------------
Net realized gain on investments.............. 320,000,813
--------------
Net unrealized gain on investments: (Note 5)
Beginning of period............................. 2,223,496,072
End of period................................... 840,691,183
--------------
Net change in unrealized gain on
investments................................. (1,382,804,889)
--------------
Net realized and unrealized loss on investments... (1,062,804,076)
--------------
Net increase in net assets resulting from
operations...................................... ($276,684,503)
==============
</TABLE>
See Notes to Financial Statements
--------------------------------------------------------------------------------
STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)
<TABLE>
<CAPTION>
PERIOD ENDED SEPTEMBER 30,
2000 1999
(UNAUDITED) (UNAUDITED)
----------- -----------
<S> <C> <C>
FROM OPERATIONS:
Net investment income................... $ 786,119,573 $ 336,099,660
Net realized gain on investments........ 320,000,813 309,364,528
Net change in unrealized gain on
investments........................... (1,382,804,889) 62,009,112
--------------- ---------------
Net decrease (increase) in net assets
resulting from operations............. (276,684,503) 707,473,300
--------------- ---------------
FROM UNIT TRANSACTIONS:
Variable annuity contract purchase
payments.............................. 944,837,233 862,555,019
Transfer from the Company for mortality
guarantee adjustments................. 1,900,020 1,644,823
Transfers to the Company's fixed account
options............................... (5,983,404) 169,473,275
Transfer from the Company's other
variable annuity accounts............. 292,140,652 30,341,778
Redemptions by contract holders......... (1,008,165,629) (1,066,755,857)
Annuity Payments........................ (35,549,599) (32,319,325)
Other................................... 186,441 195,545
Net increase (decrease) in net
assets from unit transactions
(Note 6).......................... 189,365,714 (34,864,742)
Change in net assets.................... (87,318,789) 672,608,558
--------------- ---------------
NET ASSETS:
Beginning of period..................... 15,463,100,152 12,426,365,277
--------------- ---------------
End of period........................... $15,375,781,363 $13,098,973,835
=============== ===============
</TABLE>
See Notes to Financial Statements
S-53
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited)
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
AETNA ASCENT VP:
Qualified III $ 17.940 $ 18.475 2.98% 138.2 $ 2,553
Qualified V 17.814 18.323 2.86% 1,493.4 27,363
Qualified VI 17.940 18.475 2.98% 2,467,875.7 45,593,601
Qualified VIII 17.934 18.467 2.97% 8.6 159
Qualified X (1.15) 18.533 19.100 3.06% 12,361.6 236,102
Qualified X (1.25) 18.450 19.000 2.98% 412,815.7 7,843,333
Qualified XI 18.172 18.790 3.40% 67,528.6 1,268,858
Qualified XII (0.35) 10.649 11.253 5.67% (5) 134,720.7 1,515,957
Qualified XII (0.40) 16.043 16.626 3.63% 1,942.4 32,295
Qualified XII (0.45) 10.836 11.226 3.60% 58,463.2 656,312
Qualified XII (0.55) 10.819 11.200 3.52% 3,501.2 39,212
Qualified XII (0.65) 10.802 11.173 3.43% 204,607.4 2,286,127
Qualified XII (0.70) 10.793 11.160 3.40% 23,653.8 263,978
Qualified XII (0.75) 10.784 11.147 3.37% 224,395.4 2,501,317
Qualified XII (0.80) 11.458 11.839 3.33% 204,598.2 2,422,269
Qualified XII (0.85) 16.002 16.528 3.29% 118,545.2 1,959,288
Qualified XII (0.90) 11.279 11.646 3.25% 21,646.0 252,080
Qualified XII (0.95) 15.944 16.455 3.20% 53,748.2 884,446
Qualified XII (1.00) 15.915 16.419 3.17% 406,325.8 6,671,618
Qualified XII (1.05) 15.886 16.383 3.13% 55,272.5 905,551
Qualified XII (1.10) 15.857 16.348 3.10% 28,098.7 459,345
Qualified XII (1.15) 15.828 16.312 3.06% 30,197.8 492,578
Qualified XII (1.20) 15.799 16.276 3.02% 38,858.7 632,462
Qualified XII (1.25) 15.770 16.240 2.98% 1,870.6 30,379
Qualified XII (1.30) 15.742 16.205 2.94% 12,203.6 197,756
Qualified XII (1.35) 16.103 16.169 0.41% (2) 9.6 156
Qualified XII (1.40) 15.685 16.134 2.86% 735.9 11,872
Qualified XII (1.50) 15.628 16.063 2.78% 2,405.1 38,634
Qualified XIII 18.135 18.717 3.21% 11,132.0 208,362
Qualified XV 18.105 18.686 3.21% 11,069.3 206,843
Qualified XVI 17.818 18.315 2.79% 37,117.1 679,799
Qualified XVII 18.102 18.690 3.25% 1,675.3 31,312
Qualified XVIII 18.616 19.221 3.25% 6,002.7 115,379
Qualified XXI 18.122 18.725 3.33% 13,208.2 247,318
Qualified XXII 18.152 18.756 3.33% 9,619.7 180,424
Qualified XXIV 16.192 16.425 1.44% (6) 14,659.3 240,775
Qualified XXVII 18.479 18.492 0.07% (2) 27,316.8 505,145
Qualified XXVIII 18.479 18.475 (0.02%) (2) 5,766.0 106,526
--------------------------------------------------------------------------------------------------------------------------
AETNA BALANCED VP, INC.:
Qualified I 32.205 33.019 2.53% 41,222.6 1,361,122
Qualified III 32.002 32.796 2.48% 225,375.9 7,391,508
Qualified V 24.251 24.823 2.36% 3,389.4 84,135
Qualified VI 24.372 24.977 2.48% 19,086,609.4 476,724,410
Qualified VII 23.469 24.062 2.53% 225,912.4 5,435,992
Qualified VIII 22.622 23.182 2.48% 4,662.1 108,078
Qualified IX 22.855 23.509 2.86% 2,593.9 60,981
Qualified X (1.15) 24.523 25.150 2.56% 99,764.8 2,509,117
Qualified X (1.25) 24.372 24.977 2.48% 4,723,677.4 117,982,837
Qualified XI 24.687 25.403 2.90% 681,968.8 17,323,991
Qualified XII (0.35) 12.051 12.467 3.45% (5) 1,234,792.0 15,394,415
Qualified XII (0.40) 17.347 17.891 3.14% 10,138.0 181,379
Qualified XII (0.45) 12.064 12.438 3.10% 103,255.1 1,284,268
Qualified XII (0.55) 12.045 12.409 3.02% 204,730.8 2,540,407
Qualified XII (0.65) 12.026 12.379 2.94% 118,561.8 1,467,708
Qualified XII (0.70) 12.016 12.365 2.90% 143,607.4 1,775,660
Qualified XII (0.75) 12.006 12.350 2.87% 430,232.6 5,313,433
Qualified XII (0.80) 12.801 13.162 2.82% 3,216,926.8 42,342,712
Qualified XII (0.85) 17.303 17.785 2.79% 1,665,458.1 29,619,935
Qualified XII (0.90) 12.561 12.907 2.75% 19,345.8 249,691
</TABLE>
S-54
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
Qualified XII (0.95) $ 17.240 $ 17.707 2.71% 633,714.8 $ 11,221,170
Qualified XII (1.00) 17.208 17.668 2.67% 1,930,151.9 34,102,345
Qualified XII (1.05) 17.177 17.629 2.63% 132,820.4 2,341,555
Qualified XII (1.10) 17.146 17.591 2.60% 49,757.5 875,279
Qualified XII (1.15) 17.115 17.552 2.55% 177,620.9 3,117,669
Qualified XII (1.20) 17.083 17.514 2.52% 47,361.4 829,482
Qualified XII (1.25) 17.052 17.476 2.49% 3,303.1 57,724
Qualified XII (1.30) 17.021 17.437 2.44% 4,551.2 79,361
Qualified XII (1.35) 16.663 17.399 4.42% (2) 59.3 1,033
Qualified XII (1.40) 16.960 17.361 2.36% 3,078.4 53,445
Qualified XII (1.50) 16.898 17.285 2.29% 6,855.2 118,492
Qualified XIII 24.637 25.305 2.71% 120,102.8 3,039,178
Qualified XV 24.596 25.263 2.71% 82,213.0 2,076,926
Qualified XVI 24.206 24.761 2.29% 326,375.7 8,081,336
Qualified XVII 24.529 25.185 2.67% 296,821.2 7,475,366
Qualified XVIII 24.529 25.185 2.67% 497,621.0 12,532,456
Qualified XIX 32.412 33.294 2.72% 55,562.3 1,849,866
Qualified XX 32.208 33.069 2.67% 110,661.7 3,659,496
Qualified XXI 24.619 25.314 2.82% 229,237.1 5,803,003
Qualified XXII 24.660 25.357 2.83% 88,791.3 2,251,444
Qualified XXIV 17.735 17.674 (0.34%) (6) 351,232.7 6,207,684
Qualified XXVII 31.463 32.827 4.34% (2) 1,649,271.9 54,140,653
Qualified XXVIII 31.464 32.796 4.23% (2) 164,792.3 5,404,587
Annuity contracts in
payment period 34,979,917
--------------------------------------------------------------------------------------------------------------------------
AETNA BOND VP:
Qualified I 54.432 56.757 4.27% 11,835.5 671,741
Qualified III 53.738 56.008 4.22% 35,699.3 1,999,430
Qualified V 13.981 14.554 4.10% 10,465.3 152,310
Qualified VI 13.859 14.444 4.22% 10,226,017.7 147,703,698
Qualified VII 12.833 13.381 4.27% 130,536.7 1,746,704
Qualified VIII 12.760 13.298 4.22% 7,879.7 104,787
Qualified IX 13.012 13.602 4.53% 1,440.0 19,588
Qualified X (1.15) 13.945 14.544 4.30% 62,593.5 910,380
Qualified X (1.25) 13.859 14.444 4.22% 1,765,453.7 25,500,058
Qualified XI 14.037 14.690 4.65% 270,300.5 3,970,806
Qualified XII (0.35) 10.424 10.926 4.82% (5) 306,270.6 3,346,353
Qualified XII (0.40) 11.942 12.525 4.88% 1,421.4 17,803
Qualified XII (0.45) 10.396 10.900 4.85% 18,250.7 198,939
Qualified XII (0.55) 10.380 10.875 4.77% 26,915.2 292,695
Qualified XII (0.65) 10.363 10.849 4.69% 114,914.5 1,246,715
Qualified XII (0.70) 10.355 10.836 4.65% 106,372.1 1,152,675
Qualified XII (0.75) 10.346 10.823 4.61% 124,723.6 1,349,945
Qualified XII (0.80) 10.487 10.966 4.57% 657,581.5 7,211,138
Qualified XII (0.85) 11.911 12.451 4.53% 666,542.7 8,298,949
Qualified XII (0.90) 10.481 10.952 4.49% 3,370.8 36,916
Qualified XII (0.95) 11.867 12.396 4.46% 260,041.8 3,223,533
Qualified XII (1.00) 11.846 12.369 4.41% 994,909.4 12,306,099
Qualified XII (1.05) 11.824 12.342 4.38% 66,642.3 822,494
Qualified XII (1.10) 11.803 12.315 4.34% 19,048.8 234,585
Qualified XII (1.15) 11.781 12.288 4.30% 61,118.3 751,016
Qualified XII (1.20) 11.760 12.261 4.26% 24,743.2 303,375
Qualified XII (1.25) 11.738 12.234 4.23% 8,887.2 108,727
Qualified XII (1.30) 11.717 12.207 4.18% 7,269.3 88,739
Qualified XII (1.35) 11.769 12.181 3.50% (2) 58.1 708
Qualified XII (1.40) 11.674 12.154 4.11% 2,455.5 29,844
Qualified XII (1.50) 11.632 12.101 4.03% 969.8 11,736
Qualified XIII 14.009 14.634 4.46% 116,185.7 1,700,213
Qualified XV 13.986 14.609 4.45% 97,637.5 1,426,413
</TABLE>
S-55
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
AETNA BOND VP: (continued):
Qualified XVI $ 13.764 $ 14.319 4.03% 163,337.0 $ 2,338,804
Qualified XVII 13.912 14.516 4.34% 268,271.8 3,894,222
Qualified XVIII 13.912 14.516 4.34% 537,917.9 7,808,394
Qualified XIX 54.642 57.039 4.39% 9,004.5 513,611
Qualified XX 53.945 56.287 4.34% 19,803.6 1,114,680
Qualified XXI 13.999 14.639 4.57% 14,063.2 205,874
Qualified XXII 14.022 14.664 4.58% 37,027.0 542,946
Qualified XXIV 12.155 12.373 1.79% (6) 160,215.2 1,982,360
Qualified XXVII 53.528 56.060 4.73% (2) 603,603.1 33,837,916
Qualified XXVIII 53.528 56.008 4.63% (2) 136,552.9 7,647,986
Annuity contracts in
payment period 5,735,689
--------------------------------------------------------------------------------------------------------------------------
AETNA CROSSROADS VP:
Qualified III 16.458 16.843 2.34% 26.5 446
Qualified V 16.342 16.704 2.22% 511.5 8,545
Qualified VI 16.458 16.843 2.34% 2,096,615.5 35,312,494
Qualified X (1.15) 16.923 17.331 2.41% 18,917.9 327,868
Qualified X (1.25) 16.847 17.241 2.34% 310,428.3 5,351,950
Qualified XI 16.670 17.130 2.76% 72,466.8 1,241,349
Qualified XII (0.35) 10.497 11.096 5.71% (5) 73,584.0 816,474
Qualified XII (0.40) 14.960 15.407 2.99% 564.9 8,703
Qualified XII (0.45) 10.752 11.070 2.96% 135,092.9 1,495,428
Qualified XII (0.55) 10.735 11.044 2.88% 4,463.0 49,287
Qualified XII (0.65) 10.718 11.018 2.80% 97,501.7 1,074,228
Qualified XII (0.70) 10.709 11.005 2.76% 13,463.0 148,154
Qualified XII (0.75) 10.701 10.992 2.72% 195,111.8 2,144,585
Qualified XII (0.80) 11.275 11.577 2.68% 121,222.8 1,403,422
Qualified XII (0.85) 14.921 15.316 2.65% 64,446.9 987,046
Qualified XII (0.90) 11.115 11.405 2.61% 5,665.6 64,614
Qualified XII (0.95) 14.867 15.249 2.57% 56,634.2 863,589
Qualified XII (1.00) 14.840 15.215 2.53% 127,857.8 1,945,377
Qualified XII (1.05) 14.813 15.182 2.49% 57,169.1 867,929
Qualified XII (1.10) 14.786 15.149 2.46% 46,355.7 702,224
Qualified XII (1.15) 14.759 15.115 2.41% 17,338.6 262,080
Qualified XII (1.20) 14.732 15.082 2.38% 382,776.4 5,773,124
Qualified XII (1.25) 14.705 15.049 2.34% 10,709.2 161,166
Qualified XII (1.30) 14.679 15.016 2.30% 13,632.9 204,715
Qualified XII (1.35) 14.793 14.983 1.28% (2) 2.7 41
Qualified XII (1.40) 14.625 14.951 2.23% 3,206.4 47,938
Qualified XII (1.50) 14.572 14.885 2.15% 1,353.7 20,150
Qualified XIII 16.637 17.064 2.57% 9,343.4 159,434
Qualified XV 16.609 17.035 2.56% 13,100.7 223,175
Qualified XVI 16.346 16.697 2.15% 30,941.6 516,628
Qualified XVII 16.607 17.039 2.60% 37,561.3 640,013
Qualified XVIII 16.999 17.442 2.61% 11,019.9 192,207
Qualified XXI 16.624 17.070 2.68% 10,871.2 185,574
Qualified XXII 16.652 17.099 2.68% 12,118.9 207,216
Qualified XXIV 14.969 15.220 1.68% (6) 6,061.5 92,256
Qualified XXVII 16.637 16.858 1.33% (2) 34,258.2 577,538
Qualified XXVIII 16.637 16.843 1.24% (2) 1,529.1 25,753
Annuity contracts in
payment period 71,374
--------------------------------------------------------------------------------------------------------------------------
AETNA GET FUND, SERIES C:
Qualified III 19.358 19.027 (1.71%) 29,166.2 554,948
Qualified VI 19.358 19.027 (1.71%) 4,685,570.0 89,152,697
Qualified XI 19.568 19.312 (1.31%) 547,536.8 10,574,154
Qualified XII (0.60) 13.075 13.400 2.49% (5) 66,327.8 888,776
Qualified XII (0.65) 19.672 19.459 (1.08%) 109.6 2,133
Qualified XII (0.70) 13.520 13.368 (1.12%) 23,934.9 319,965
</TABLE>
S-56
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
AETNA GET FUND, SERIES C: (continued):
Qualified XII (0.80) $ 13.498 $ 13.337 (1.19%) 6,967.8 $ 92,927
Qualified XII (0.90) 13.477 13.305 (1.28%) 10,694.0 142,287
Qualified XII (0.95) 12.849 13.290 3.43% (5) 8,063.5 107,161
Qualified XII (1.00) 13.455 13.274 (1.35%) 100,021.3 1,327,677
Qualified XII (1.05) 14.919 14.713 (1.38%) 587,274.4 8,640,645
Qualified XII (1.10) 19.615 19.336 (1.42%) 77,283.7 1,494,393
Qualified XII (1.15) 14.489 14.278 (1.46%) 4,014.7 57,322
Qualified XII (1.20) 19.550 19.259 (1.49%) 116,250.3 2,238,817
Qualified XII (1.25) 19.518 19.220 (1.53%) 994,095.6 19,106,341
Qualified XII (1.30) 19.486 19.181 (1.57%) 1,697.8 32,565
Qualified XII (1.35) 19.454 19.142 (1.60%) 4,950.9 94,772
Qualified XII (1.40) 19.422 19.104 (1.64%) 3,706.0 70,799
Qualified XII (1.45) 19.390 19.065 (1.68%) 3,011.6 57,418
Qualified XIII 19.550 19.259 (1.49%) 83,529.6 1,608,664
Qualified XV 19.536 19.245 (1.49%) 16,021.3 308,325
Qualified XVI 19.227 18.863 (1.89%) 28,413.5 535,950
Qualified XVII 19.358 19.027 (1.71%) 93,492.4 1,778,887
Qualified XXI 19.557 19.287 (1.38%) 48,366.3 932,827
Qualified XXII 19.571 19.301 (1.38%) 84,176.0 1,624,651
Qualified XXVII 18.371 19.045 3.67% (2) 390,245.0 7,432,142
Qualified XXVIII 18.372 19.027 3.57% (2) 123,661.4 2,352,915
--------------------------------------------------------------------------------------------------------------------------
AETNA GET FUND, SERIES D:
Qualified III 10.726 10.413 (2.92%) 6,178.8 64,343
Qualified VI 10.726 10.413 (2.92%) 13,979,776.8 145,578,251
Qualified X (1.15) 10.726 10.413 (2.92%) 139,046.9 1,447,964
Qualified X (1.25) 10.726 10.413 (2.92%) 2,716,875.6 28,292,154
Qualified XI 10.775 10.505 (2.51%) 2,304,957.7 24,212,597
Qualified XII (0.60) 10.239 10.600 3.53% (5) 123,387.4 1,307,947
Qualified XII (0.65) 10.833 10.584 (2.30%) 1,176.9 12,456
Qualified XII (0.70) 10.832 10.579 (2.34%) 53,616.8 567,233
Qualified XII (0.80) 10.818 10.559 (2.39%) 29,655.0 313,112
Qualified XII (0.90) 10.805 10.538 (2.47%) 22,607.0 238,226
Qualified XII (0.95) 10.103 10.527 4.20% (5) 18,970.9 199,711
Qualified XII (1.00) 10.792 10.517 (2.55%) 223,714.8 2,352,783
Qualified XII (1.05) 10.785 10.506 (2.59%) 3,095,441.6 32,522,207
Qualified XII (1.10) 10.779 10.496 (2.63%) 128,641.4 1,350,236
Qualified XII (1.15) 10.772 10.486 (2.66%) 7,599.9 79,691
Qualified XII (1.20) 10.765 10.475 (2.69%) 300,498.8 3,147,842
Qualified XII (1.25) 10.759 10.465 (2.73%) 5,252,658.1 54,969,492
Qualified XII (1.30) 10.752 10.455 (2.76%) 40,666.4 425,155
Qualified XII (1.35) 10.745 10.444 (2.80%) 20,861.5 217,886
Qualified XII (1.40) 10.739 10.434 (2.84%) 10,656.7 111,193
Qualified XII (1.50) 10.726 10.413 (2.92%) 4,236.0 44,112
Qualified XII (1.75) 10.693 10.362 (3.10%) 7,858.4 81,430
Qualified XIII 10.765 10.475 (2.69%) 389,437.5 4,079,509
Qualified XV 10.765 10.475 (2.69%) 77,552.7 812,395
Qualified XVI 10.693 10.362 (3.10%) 118,614.3 1,229,103
Qualified XVII 10.726 10.413 (2.92%) 94,265.3 981,631
Qualified XVIII 10.726 10.413 (2.92%) 545,258.5 5,678,043
Qualified XXI 10.777 10.498 (2.59%) 211,351.8 2,218,829
Qualified XXII 10.777 10.498 (2.59%) 457,440.8 4,802,338
Qualified XXIV 10.406 10.468 0.60% (6) 75,284.6 788,116
Qualified XXVII 10.224 10.423 1.95% (2) 3,292,995.9 34,323,545
--------------------------------------------------------------------------------------------------------------------------
AETNA GET FUND, SERIES E:
Qualified V 10.751 10.462 (2.69%) 489.8 5,124
Qualified VI 10.760 10.484 (2.57%) 6,058,948.4 63,521,204
Qualified X (1.15) 10.755 10.459 (2.75%) 155,988.4 1,631,507
</TABLE>
S-57
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
AETNA GET FUND, SERIES E: (continued):
Qualified X (1.25) $ 10.752 $ 10.457 (2.74%) 1,399,925.2 $ 14,638,699
Qualified XI 10.787 10.553 (2.17%) 767,665.1 8,100,910
Qualified XII (0.70) 10.807 10.593 (1.98%) 4,273.8 45,271
Qualified XII (0.80) 10.801 10.579 (2.06%) 24,171.6 255,711
Qualified XII (0.95) 10.224 10.559 3.28% (5) 57,482.8 606,935
Qualified XII (1.00) 10.789 10.552 (2.20%) 69,118.4 729,320
Qualified XII (1.05) 10.787 10.545 (2.24%) 1,187,000.4 12,516,830
Qualified XII (1.10) 10.784 10.538 (2.28%) 38,794.7 408,824
Qualified XII (1.15) 10.781 10.531 (2.32%) 1,599.9 16,849
Qualified XII (1.20) 10.778 10.525 (2.35%) 127,304.4 1,339,819
Qualified XII (1.25) 10.775 10.518 (2.39%) 1,556,485.7 16,370,725
Qualified XII (1.30) 10.772 10.511 (2.42%) 13,765.3 144,686
Qualified XII (1.35) 10.769 10.504 (2.46%) 4,033.4 42,368
Qualified XII (1.40) 10.766 10.497 (2.50%) 5,561.7 58,383
Qualified XII (1.50) 10.760 10.484 (2.57%) 9,586.0 100,498
Qualified XII (1.75) 10.745 10.450 (2.75%) 287.8 3,007
Qualified XIII 10.778 10.525 (2.35%) 104,357.4 1,098,312
Qualified XV 10.778 10.525 (2.35%) 87,697.8 922,978
Qualified XVI 10.745 10.450 (2.75%) 29,214.9 305,298
Qualified XVII 10.760 10.484 (2.57%) 125,452.9 1,315,250
Qualified XVIII 10.752 10.457 (2.74%) 66,352.2 693,839
Qualified XXI 10.787 10.545 (2.24%) 175,557.4 1,851,240
Qualified XXII 10.787 10.545 (2.24%) 177,167.2 1,868,215
Qualified XXIV 10.531 10.521 (0.09%) (6) 23,134.6 243,403
Qualified XXVII 10.283 10.494 2.05% (2) 1,104,581.4 11,591,084
--------------------------------------------------------------------------------------------------------------------------
AETNA GET FUND, SERIES G:
Qualified VI 10.370 10.098 (2.62%) 1,638,947.9 16,550,721
Qualified X (1.25) 10.369 10.078 (2.81%) 476,916.9 4,806,558
Qualified XI 10.384 10.154 (2.21%) 88,066.2 894,213
Qualified XII (0.60) 9.873 10.195 3.26% (5) 6,269.9 63,920
Qualified XII (0.80) 10.392 10.173 (2.11%) 1,379.7 14,036
Qualified XII (0.90) 10.389 10.163 (2.18%) 359.6 3,654
Qualified XII (1.00) 10.386 10.152 (2.25%) 26,135.7 265,324
Qualified XII (1.05) 10.384 10.147 (2.28%) 182,362.1 1,850,364
Qualified XII (1.10) 10.383 10.141 (2.33%) 52,741.8 534,859
Qualified XII (1.20) 10.379 10.130 (2.40%) 22,442.8 227,354
Qualified XII (1.25) 10.378 10.125 (2.44%) 593,679.5 6,011,030
Qualified XII (1.30) 10.376 10.120 (2.47%) 1,481.7 14,994
Qualified XII (1.35) 10.375 10.114 (2.52%) 3,944.3 39,894
Qualified XII (1.40) 10.373 10.109 (2.55%) 6,765.9 68,397
Qualified XII (1.45) 10.371 10.104 (2.57%) 35,870.7 362,426
Qualified XII (1.55) 10.193 10.093 (0.98%) (7) 132.0 1,332
Qualified XIII 10.379 10.130 (2.40%) 30,398.4 307,947
Qualified XV 10.379 10.130 (2.40%) 30,399.1 307,955
Qualified XVI 10.362 10.072 (2.80%) 5,838.5 58,804
Qualified XVII 10.370 10.098 (2.62%) 29,548.6 298,393
Qualified XVIII 10.369 10.078 (2.81%) 70,157.0 707,071
Qualified XXI 10.384 10.146 (2.29%) 9,706.2 98,483
Qualified XXII 10.384 10.146 (2.29%) 18,135.3 184,008
Qualified XXIV 10.067 10.128 0.61% (6) 6,204.6 62,842
Qualified XXVII 9.923 10.108 1.86% (2) 589,788.4 5,961,662
--------------------------------------------------------------------------------------------------------------------------
AETNA GET FUND, SERIES H:
Qualified VI 10.020 10.363 3.42% 1,312,796.4 13,604,945
Qualified X (1.15) 10.086 10.352 2.64% (2) 48,348.4 500,493
Qualified X (1.25) 10.020 10.349 3.28% 250,467.4 2,592,152
Qualified XI 10.022 10.408 3.85% 111,690.3 1,162,452
Qualified XII (0.60) 10.178 10.437 2.54% (5) 335.5 3,502
</TABLE>
S-58
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
AETNA GET FUND, SERIES H: (continued):
Qualified XII (0.80) $ 10.050 $ 10.421 3.69% (1) 13,648.5 $ 142,227
Qualified XII (0.90) 10.652 10.413 (2.24%) (3) 1,483.2 15,444
Qualified XII (0.95) 10.085 10.408 3.20% (5) 10,894.9 113,398
Qualified XII (1.00) 10.043 10.404 3.59% (1) 15,376.5 159,982
Qualified XII (1.05) 10.021 10.400 3.78% (1) 341,417.1 3,550,803
Qualified XII (1.10) 10.042 10.396 3.53% (1) 23,490.5 244,210
Qualified XII (1.20) 10.021 10.388 3.66% 14,286.6 148,407
Qualified XII (1.25) 10.021 10.384 3.62% 299,560.3 3,110,573
Qualified XII (1.30) 10.021 10.380 3.58% 1,295.0 13,441
Qualified XII (1.35) 10.020 10.376 3.55% 8,826.0 91,575
Qualified XII (1.40) 10.044 10.372 3.27% (1) 5,910.1 61,296
Qualified XII (1.45) 10.020 10.367 3.46% 5,077.5 52,641
Qualified XIII 10.021 10.388 3.66% 23,577.7 244,923
Qualified XV 10.021 10.388 3.66% 16,123.9 167,493
Qualified XVI 10.019 10.343 3.23% 9,660.3 99,915
Qualified XVII 10.043 10.363 3.19% (1) 58,382.3 605,035
Qualified XVIII 10.020 10.349 3.28% 68,087.0 704,650
Qualified XXI 10.022 10.400 3.77% 5,072.4 52,754
Qualified XXII 10.033 10.400 3.66% (1) 38,247.3 397,779
Qualified XXVII 10.066 10.373 3.05% (2) 289,577.2 3,003,784
--------------------------------------------------------------------------------------------------------------------------
AETNA GET FUND, SERIES I:
Qualified X (1.25) 10.005 10.079 0.74% (3) 125,291.7 1,262,798
Qualified XVIII 10.020 10.079 0.59% (4) 25,385.3 255,856
--------------------------------------------------------------------------------------------------------------------------
AETNA GET FUND, SERIES J:
Qualified X (1.25) 9.997 9.911 (0.86%) (6) 40,346.2 399,876
Qualified XVIII 10.098 9.911 (1.85%) (9) 6,624.4 65,655
--------------------------------------------------------------------------------------------------------------------------
AETNA GET FUND, SERIES K:
Qualified X (1.25) 10.031 10.039 0.08% (9) 3,937.5 39,529
Qualified XXVII 10.023 10.040 0.17% (9) 4,496.5 45,143
--------------------------------------------------------------------------------------------------------------------------
AETNA GROWTH AND INCOME VP:
Qualified I 374.804 364.628 (2.72%) 104,808.5 38,216,102
Qualified III 284.994 277.132 (2.76%) 105,749.4 29,306,541
Qualified V 28.987 28.154 (2.87%) 16,126.9 454,037
Qualified VI 29.100 28.297 (2.76%) 94,580,907.4 2,676,379,582
Qualified VII 27.450 26.704 (2.72%) 7,292,308.7 194,735,496
Qualified VIII 27.018 26.271 (2.76%) 50,941.4 1,338,292
Qualified IX 27.182 26.531 (2.39%) 15,580.8 413,367
Qualified X (1.15) 29.280 28.494 (2.68%) 478,496.7 13,634,218
Qualified X (1.25) 29.100 28.297 (2.76%) 15,562,231.4 440,368,353
Qualified XI 29.475 28.780 (2.36%) 4,237,750.3 121,961,292
Qualified XII (0.35) 11.432 11.636 1.78% (5) 5,107,336.3 59,427,264
Qualified XII (0.40) 19.586 19.167 (2.14%) 54,851.3 1,051,312
Qualified XII (0.45) 11.867 11.608 (2.18%) 383,573.5 4,452,610
Qualified XII (0.55) 11.847 11.581 (2.25%) 1,039,112.8 12,033,853
Qualified XII (0.65) 11.828 11.554 (2.32%) 456,149.2 5,270,172
Qualified XII (0.70) 11.819 11.540 (2.36%) 521,557.7 6,018,780
Qualified XII (0.75) 11.809 11.526 (2.40%) 3,178,346.4 36,634,924
Qualified XII (0.80) 12.939 12.625 (2.43%) 12,263,162.5 154,819,018
Qualified XII (0.85) 19.535 19.053 (2.47%) 5,103,043.6 97,228,157
Qualified XII (0.90) 12.572 12.258 (2.50%) 130,727.3 1,602,397
Qualified XII (0.95) 19.464 18.970 (2.54%) 2,871,640.8 54,473,654
Qualified XII (1.00) 19.429 18.928 (2.58%) 10,259,912.9 194,200,349
Qualified XII (1.05) 19.393 18.887 (2.61%) 492,917.7 9,309,521
Qualified XII (1.10) 19.358 18.845 (2.65%) 236,399.0 4,454,997
Qualified XII (1.15) 19.323 18.804 (2.69%) 353,058.1 6,638,880
Qualified XII (1.20) 19.288 18.763 (2.72%) 193,302.8 3,626,882
</TABLE>
S-59
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
AETNA GROWTH AND INCOME VP: (continued):
Qualified XII (1.25) $ 19.253 $ 18.722 (2.76%) 51,269.7 $ 959,855
Qualified XII (1.30) 19.218 18.681 (2.79%) 15,009.7 280,391
Qualified XII (1.35) 18.079 18.640 3.10% (2) 53.7 1,002
Qualified XII (1.40) 19.148 18.599 (2.87%) 21,157.3 393,502
Qualified XII (1.50) 19.078 18.518 (2.94%) 20,303.2 375,966
Qualified XIII 29.416 28.669 (2.54%) 895,972.7 25,686,276
Qualified XV 29.367 28.621 (2.54%) 892,854.4 25,554,360
Qualified XVI 28.902 28.052 (2.94%) 1,334,761.3 37,443,355
Qualified XVII 29.287 28.533 (2.57%) 4,513,159.3 128,772,385
Qualified XVIII 29.287 28.533 (2.57%) 4,839,459.0 138,082,581
Qualified XIX 377.218 367.661 (2.53%) 56,387.1 20,731,361
Qualified XX 286.829 279.437 (2.58%) 129,309.6 36,133,936
Qualified XXI 29.394 28.680 (2.43%) 886,307.7 25,418,876
Qualified XXII 29.443 28.727 (2.43%) 1,133,711.4 32,568,406
Qualified XXIV 19.041 18.934 (0.56%) (6) 1,191,475.4 22,559,696
Qualified XXVII 275.773 277.391 0.59% (2) 1,277,322.6 354,317,810
Qualified XXVIII 275.776 277.132 0.49% (2) 31,419.9 8,707,465
Annuity contracts in
payment period 350,025,332
--------------------------------------------------------------------------------------------------------------------------
AETNA GROWTH VP:
Qualified III 18.124 19.089 5.32% 815.8 15,573
Qualified V 23.771 25.008 5.20% 3,220.1 80,527
Qualified VI 23.875 25.147 5.33% 4,268,457.7 107,338,446
Qualified VIII 23.870 25.140 5.32% 1,163.2 29,244
Qualified X (1.15) 23.940 25.234 5.41% 24,366.6 614,878
Qualified X (1.25) 23.875 25.147 5.33% 644,203.2 16,199,708
Qualified XI 24.094 25.481 5.76% 247,006.7 6,293,994
Qualified XII (0.35) 15.254 16.369 7.31% (5) 163,857.2 2,682,115
Qualified XII (0.40) 24.222 25.674 5.99% 791.8 20,330
Qualified XII (0.45) 15.412 16.330 5.96% 213,143.3 3,480,635
Qualified XII (0.55) 15.387 16.292 5.88% 20,004.8 325,909
Qualified XII (0.65) 15.362 16.253 5.80% 19,688.3 319,998
Qualified XII (0.70) 15.350 16.234 5.76% 169,673.6 2,754,489
Qualified XII (0.75) 15.338 16.215 5.72% 228,347.9 3,702,654
Qualified XII (0.80) 17.447 18.438 5.68% 1,079,888.4 19,910,771
Qualified XII (0.85) 24.137 25.499 5.64% 85,537.3 2,181,097
Qualified XII (0.90) 16.962 17.912 5.60% 9,731.8 174,315
Qualified XII (0.95) 24.071 25.410 5.56% 88,450.2 2,247,546
Qualified XII (1.00) 24.039 25.366 5.52% 718,057.4 18,214,423
Qualified XII (1.05) 24.006 25.322 5.48% 62,431.8 1,580,910
Qualified XII (1.10) 23.973 25.278 5.44% 13,332.2 337,017
Qualified XII (1.15) 23.940 25.234 5.41% 19,320.4 487,539
Qualified XII (1.20) 23.908 25.191 5.37% 6,873.4 173,145
Qualified XII (1.25) 23.875 25.147 5.33% 8,986.0 225,969
Qualified XII (1.30) 23.843 25.103 5.28% 7,013.7 176,066
Qualified XII (1.35) 23.242 25.060 7.82% (2) 157.5 3,946
Qualified XII (1.40) 23.778 25.016 5.21% 1,649.2 41,257
Qualified XII (1.50) 23.713 24.929 5.13% 3,821.4 95,266
Qualified XIII 24.071 25.410 5.56% 33,168.6 842,824
Qualified XV 24.071 25.410 5.56% 39,641.9 1,007,314
Qualified XVI 23.713 24.929 5.13% 74,466.6 1,856,410
Qualified XVII 23.875 25.147 5.33% 55,752.0 1,401,990
Qualified XVIII 24.091 25.440 5.60% 59,881.9 1,523,405
Qualified XXI 24.094 25.462 5.68% 74,018.7 1,884,685
Qualified XXII 24.094 25.462 5.68% 97,420.2 2,480,540
Qualified XXIV 26.062 25.375 (2.64%) (6) 57,438.8 1,457,482
Qualified XXVII 9.343 9.345 0.02% (9) 31,676.0 296,011
Annuity contracts in
payment period 187,556
--------------------------------------------------------------------------------------------------------------------------
</TABLE>
S-60
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
AETNA INDEX PLUS LARGE CAP VP:
Qualified V $ 22.923 $ 22.420 (2.19%) 960.7 $ 21,539
Qualified VI 23.044 22.565 (2.08%) 10,685,188.1 241,111,394
Qualified VIII 23.038 22.558 (2.08%) 1,593.6 35,948
Qualified X (1.15) 23.120 22.656 (2.01%) 63,771.7 1,444,833
Qualified X (1.25) 23.044 22.565 (2.08%) 1,228,918.4 27,730,558
Qualified XI 23.294 22.904 (1.67%) 683,616.3 15,657,324
Qualified XII (0.35) 13.504 13.815 2.30% (5) 342,677.8 4,733,974
Qualified XII (0.40) 23.418 23.077 (1.46%) 1,442.3 33,285
Qualified XII (0.45) 13.991 13.782 (1.49%) 354,369.3 4,883,952
Qualified XII (0.55) 13.968 13.750 (1.56%) 132,572.2 1,822,820
Qualified XII (0.65) 13.946 13.717 (1.64%) 206,152.9 2,827,856
Qualified XII (0.70) 13.935 13.701 (1.68%) 87,756.6 1,202,361
Qualified XII (0.75) 13.923 13.685 (1.71%) 460,696.0 6,304,610
Qualified XII (0.80) 15.521 15.249 (1.75%) 2,827,734.5 43,121,521
Qualified XII (0.85) 23.350 22.933 (1.79%) 622,015.7 14,264,450
Qualified XII (0.90) 15.036 14.762 (1.82%) 20,918.4 308,798
Qualified XII (0.95) 23.273 22.840 (1.86%) 323,019.3 7,377,786
Qualified XII (1.00) 23.235 22.794 (1.90%) 1,893,956.4 43,170,938
Qualified XII (1.05) 23.196 22.748 (1.93%) 102,089.3 2,322,330
Qualified XII (1.10) 23.158 22.702 (1.97%) 81,292.8 1,845,523
Qualified XII (1.15) 23.120 22.656 (2.01%) 39,940.2 904,899
Qualified XII (1.20) 23.082 22.611 (2.04%) 27,104.6 612,850
Qualified XII (1.25) 23.044 22.565 (2.08%) 13,728.3 309,780
Qualified XII (1.30) 23.006 22.519 (2.12%) 17,757.0 399,877
Qualified XII (1.35) 21.210 22.474 5.96% (2) 141.9 3,189
Qualified XII (1.40) 22.930 22.429 (2.18%) 6,099.9 136,812
Qualified XII (1.50) 22.855 22.338 (2.26%) 5,529.0 123,508
Qualified XIII 23.273 22.840 (1.86%) 94,450.3 2,157,252
Qualified XIV 23.044 22.565 (2.08%) 454.0 10,245
Qualified XV 23.256 22.823 (1.86%) 39,579.4 903,323
Qualified XVI 22.887 22.370 (2.26%) 136,341.0 3,049,932
Qualified XVII 23.103 22.640 (2.00%) 88,880.0 2,012,233
Qualified XVIII 23.252 22.828 (1.82%) 65,709.7 1,500,032
Qualified XXI 23.277 22.870 (1.75%) 359,667.7 8,225,516
Qualified XXII 23.294 22.887 (1.75%) 136,795.7 3,130,814
Qualified XXIV 23.001 22.801 (0.87%) (6) 88,242.2 2,012,053
Qualified XXVII 21.787 22.586 3.67% (2) 2,148,724.7 48,531,320
Qualified XXVIII 21.787 22.565 3.57% (2) 1,156,729.3 26,101,610
Annuity contracts in
payment period 2,102,188
--------------------------------------------------------------------------------------------------------------------------
AETNA INDEX PLUS MID CAP VP:
Qualified V 12.497 15.513 24.13% (1) 123.0 1,909
Qualified VI 12.455 15.574 25.04% 827,143.8 12,881,800
Qualified VIII 12.454 15.571 25.03% 2.9 45
Qualified X (1.15) 13.477 15.612 15.84% (3) 4,593.0 71,705
Qualified X (1.25) 12.455 15.574 25.04% 121,406.4 1,890,763
Qualified XI 12.530 15.732 25.55% 65,076.0 1,023,756
Qualified XII (0.35) 14.273 16.285 14.10% (5) 25,902.2 421,820
Qualified XII (0.40) 12.597 15.851 25.83% 143.6 2,277
Qualified XII (0.45) 12.916 16.247 25.79% 13,387.2 217,498
Qualified XII (0.55) 12.896 16.208 25.68% 3,460.0 56,081
Qualified XII (0.65) 12.875 16.170 25.59% 6,212.8 100,463
Qualified XII (0.70) 12.864 16.151 25.55% 15,219.0 245,805
Qualified XII (0.75) 12.854 16.132 25.50% 12,310.8 198,600
Qualified XII (0.80) 12.551 15.745 25.45% 63,919.7 1,006,442
Qualified XII (0.85) 12.540 15.726 25.41% 24,564.7 386,311
Qualified XII (0.90) 12.529 15.707 25.37% 558.6 8,775
Qualified XII (0.95) 12.519 15.688 25.31% 12,288.1 192,776
</TABLE>
S-61
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
AETNA INDEX PLUS MID CAP VP: (continued):
Qualified XII (1.00) $ 12.508 $ 15.669 25.27% 139,688.7 $ 2,188,773
Qualified XII (1.05) 12.498 15.650 25.22% 2,649.9 41,471
Qualified XII (1.10) 12.487 15.631 25.18% 2,239.8 35,010
Qualified XII (1.15) 12.477 15.612 25.13% 1,705.8 26,631
Qualified XII (1.20) 12.466 15.593 25.08% 1,884.2 29,379
Qualified XII (1.25) 12.455 15.574 25.04% 1,400.7 21,814
Qualified XII (1.30) 12.445 15.555 24.99% 667.9 10,389
Qualified XII (1.35) 12.420 15.536 25.09% (2) 94.4 1,466
Qualified XII (1.40) 12.564 15.517 23.50% (2) 67.2 1,043
Qualified XII (1.50) 12.403 15.479 24.80% 245.5 3,800
Qualified XIII 12.519 15.688 25.31% 11,724.3 183,931
Qualified XV 12.519 15.688 25.31% 10,446.2 163,881
Qualified XVI 12.403 15.479 24.80% 8,644.0 133,804
Qualified XVII 12.475 15.574 24.84% (2) 2,122.4 33,053
Qualified XVIII 12.455 15.574 25.04% 10,913.8 169,970
Qualified XXI 12.530 15.720 25.46% 16,340.5 256,875
Qualified XXII 12.530 15.720 25.46% 10,957.1 172,247
Qualified XXIV 14.131 15.674 10.92% (6) 1,015.3 15,914
Qualified XXVII 13.115 16.229 23.74% (2) 203,874.5 3,308,603
Qualified XXVIII 13.116 16.213 23.61% (2) 56,704.1 919,370
--------------------------------------------------------------------------------------------------------------------------
AETNA INDEX PLUS SMALL CAP VP:
Qualified VI 9.645 10.195 5.70% 446,925.1 4,556,468
Qualified X (1.15) 9.661 10.220 5.79% 1,442.1 14,738
Qualified X (1.25) 9.645 10.195 5.70% 92,171.0 939,697
Qualified XI 9.703 10.299 6.14% 27,354.4 281,710
Qualified XII (0.35) 9.804 10.836 10.53% (5) 10,512.1 113,914
Qualified XII (0.45) 10.166 10.811 6.34% 2,576.8 27,858
Qualified XII (0.55) 10.150 10.785 6.26% 70.3 759
Qualified XII (0.65) 10.134 10.760 6.18% 40,129.5 431,795
Qualified XII (0.70) 10.126 10.747 6.13% 1,305.5 14,031
Qualified XII (0.75) 10.117 10.735 6.11% 11,941.4 128,186
Qualified XII (0.80) 9.718 10.308 6.07% 51,259.8 528,363
Qualified XII (0.85) 9.710 10.295 6.02% 16,375.8 168,588
Qualified XII (0.90) 9.702 10.282 5.98% 967.2 9,945
Qualified XII (0.95) 9.694 10.270 5.94% 11,331.2 116,371
Qualified XII (1.00) 9.686 10.257 5.90% 61,193.5 627,689
Qualified XII (1.05) 9.677 10.245 5.87% 3,093.9 31,696
Qualified XII (1.10) 9.669 10.232 5.82% 2,172.1 22,226
Qualified XII (1.15) 9.661 10.220 5.79% 1,716.8 17,545
Qualified XII (1.20) 9.653 10.208 5.75% 1,416.4 14,458
Qualified XII (1.25) 8.614 10.195 18.35% (4) 111.3 1,135
Qualified XII (1.30) 9.637 10.183 5.67% 16.1 164
Qualified XII (1.35) 9.777 10.170 4.02% (2) 13.2 134
Qualified XII (1.40) 9.746 10.158 4.23% (2) 862.2 8,758
Qualified XII (1.50) 9.604 10.133 5.51% 276.3 2,800
Qualified XIII 9.694 10.270 5.94% 3,552.6 36,485
Qualified XV 9.694 10.270 5.94% 3,817.0 39,200
Qualified XVI 9.604 10.133 5.51% 3,930.6 39,829
Qualified XVII 9.645 10.195 5.70% 48.3 492
Qualified XVIII 9.645 10.195 5.70% 3,001.5 30,601
Qualified XXI 9.703 10.291 6.06% 11,323.2 116,527
Qualified XXII 9.703 10.291 6.06% 6,755.8 69,524
Qualified XXIV 9.929 10.261 3.34% (6) 422.5 4,335
Qualified XXVII 10.151 10.600 4.42% (2) 163,624.6 1,734,488
Qualified XXVIII 10.151 10.591 4.33% (2) 43,931.7 465,258
--------------------------------------------------------------------------------------------------------------------------
</TABLE>
S-62
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
AETNA INTERNATIONAL VP:
Qualified V $ 14.554 $ 13.103 (9.97%) 61.5 $ 806
Qualified VI 14.594 13.154 (9.87%) 665,212.0 8,750,504
Qualified VIII 14.592 13.152 (9.87%) 9.4 124
Qualified X (1.15) 14.618 13.187 (9.79%) 1,073.0 14,148
Qualified X (1.25) 14.594 13.154 (9.87%) 110,437.8 1,452,748
Qualified XI 14.682 13.288 (9.49%) 16,016.5 212,824
Qualified XII (0.35) 14.054 13.101 (6.78%) (5) 13,350.8 174,907
Qualified XII (0.45) 14.414 13.070 (9.32%) 33,935.2 443,531
Qualified XII (0.55) 14.391 13.039 (9.39%) 833.3 10,865
Qualified XII (0.65) 14.367 13.009 (9.45%) 1,387.1 18,044
Qualified XII (0.70) 14.356 12.993 (9.49%) 35,938.7 466,957
Qualified XII (0.75) 14.344 12.978 (9.52%) 5,181.2 67,241
Qualified XII (0.80) 14.705 13.299 (9.56%) 54,536.2 725,296
Qualified XII (0.85) 14.693 13.283 (9.60%) 18,329.8 243,479
Qualified XII (0.90) 14.680 13.267 (9.63%) 79.3 1,052
Qualified XII (0.95) 14.668 13.251 (9.66%) 11,783.6 156,144
Qualified XII (1.00) 14.656 13.235 (9.70%) 48,757.8 645,299
Qualified XII (1.05) 14.643 13.219 (9.72%) 3,170.6 41,911
Qualified XII (1.10) 14.631 13.203 (9.76%) 1,851.2 24,440
Qualified XII (1.15) 14.618 13.187 (9.79%) 1,255.3 16,553
Qualified XII (1.20) 14.606 13.170 (9.83%) 929.7 12,245
Qualified XII (1.25) 14.594 13.154 (9.87%) 759.1 9,985
Qualified XII (1.30) 14.582 13.138 (9.90%) 146.9 1,930
Qualified XII (1.35) 15.783 13.122 (16.86%) (2) 14.3 188
Qualified XII (1.40) 14.557 13.107 (9.96%) 308.5 4,044
Qualified XII (1.50) 14.532 13.075 (10.03%) 154.8 2,024
Qualified XIII 14.668 13.251 (9.66%) 5,277.6 69,933
Qualified XV 14.668 13.251 (9.66%) 928.5 12,303
Qualified XVI 14.532 13.075 (10.03%) 10,354.8 135,385
Qualified XVIII 14.594 13.154 (9.87%) 9,314.6 122,529
Qualified XXI 14.681 13.278 (9.56%) 2,270.8 30,152
Qualified XXII 14.681 13.278 (9.56%) 23,320.9 309,655
Qualified XXIV 14.803 13.239 (10.57%) (6) 11,561.7 153,066
Qualified XXVII 9.610 9.269 (3.55%) (9) 760.1 7,045
--------------------------------------------------------------------------------------------------------------------------
AETNA LEGACY VP:
Qualified III 15.070 15.709 4.24% 459.9 7,225
Qualified V 14.964 15.580 4.12% 851.4 13,264
Qualified VI 15.070 15.709 4.24% 1,274,209.1 20,016,020
Qualified X (1.15) 15.203 15.859 4.31% 18,027.4 285,905
Qualified X (1.25) 15.135 15.777 4.24% 383,070.7 6,043,710
Qualified XI 15.264 15.977 4.67% 47,670.7 761,611
Qualified XII (0.35) 10.706 11.287 5.43% (5) 40,331.3 455,226
Qualified XII (0.40) 13.986 14.671 4.90% 126.0 1,849
Qualified XII (0.45) 10.738 11.261 4.87% 41,092.3 462,722
Qualified XII (0.55) 10.721 11.234 4.79% 19,788.9 222,309
Qualified XII (0.65) 10.704 11.208 4.71% 53,642.9 601,206
Qualified XII (0.70) 10.695 11.194 4.67% 6,473.3 72,464
Qualified XII (0.75) 10.686 11.181 4.63% 66,364.6 742,033
Qualified XII (0.80) 11.073 11.582 4.60% 136,397.5 1,579,710
Qualified XII (0.85) 13.950 14.584 4.54% 43,679.0 637,030
Qualified XII (0.90) 10.986 11.482 4.51% 1,738.2 19,957
Qualified XII (0.95) 13.899 14.520 4.47% 27,956.8 405,945
Qualified XII (1.00) 13.874 14.489 4.43% 181,879.4 2,635,193
Qualified XII (1.05) 13.848 14.457 4.40% 36,107.6 522,004
Qualified XII (1.10) 13.823 14.425 4.36% 24,240.7 349,679
Qualified XII (1.15) 13.798 14.394 4.32% 13,853.1 199,397
Qualified XII (1.20) 13.773 14.362 4.28% 22,113.9 317,601
</TABLE>
S-63
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
AETNA LEGACY VP: (continued):
Qualified XII (1.25) $ 13.748 $ 14.331 4.24% 7,087.0 $ 101,561
Qualified XII (1.30) 13.723 14.299 4.20% 6,523.0 93,274
Qualified XII (1.40) 13.673 14.237 4.12% 430.4 6,128
Qualified XII (1.50) 13.623 14.174 4.04% 1,680.2 23,816
Qualified XIII 15.234 15.916 4.48% 2,698.4 42,947
Qualified XV 15.208 15.888 4.47% 7,059.5 112,164
Qualified XVI 14.967 15.573 4.05% 21,561.0 335,761
Qualified XVII 15.206 15.892 4.51% 21,067.9 334,809
Qualified XVIII 15.272 15.961 4.51% 44,024.7 702,683
Qualified XXI 15.222 15.921 4.59% 48,525.2 772,565
Qualified XXII 15.248 15.948 4.59% 5,113.3 81,549
Qualified XXIV 14.232 14.493 1.83% (6) 1,075.9 15,593
Qualified XXVII 15.132 15.723 3.91% (2) 49,941.7 785,248
Annuity contracts in
payment period 203,595
--------------------------------------------------------------------------------------------------------------------------
AETNA MONEY MARKET VP:
Qualified I 45.192 46.880 3.74% 31,081.6 1,457,091
Qualified III 44.501 46.142 3.69% 34,876.6 1,609,277
Qualified V 12.808 13.264 3.56% 18,837.6 249,865
Qualified VI 12.917 13.393 3.69% 9,872,506.9 132,221,616
Qualified VII 12.842 13.321 3.73% 304,395.8 4,054,890
Qualified VIII 12.437 12.895 3.68% 10,547.9 136,014
Qualified IX 12.847 13.345 3.88% 1,680.4 22,426
Qualified X (1.15) 12.997 13.487 3.77% 273,325.6 3,686,226
Qualified X (1.25) 12.917 13.393 3.69% 2,332,395.8 31,237,573
Qualified XI 13.083 13.621 4.11% 418,918.3 5,706,250
Qualified XII (0.35) 11.033 11.268 2.13% (5) 443,047.2 4,992,193
Qualified XII (0.40) 11.748 12.259 4.35% 3,373.4 41,354
Qualified XII (0.45) 10.777 11.241 4.31% 22,827.1 256,605
Qualified XII (0.55) 10.760 11.215 4.23% 54,551.3 611,780
Qualified XII (0.65) 10.742 11.188 4.15% 211,573.0 2,367,153
Qualified XII (0.70) 10.734 11.175 4.11% 132,140.0 1,476,684
Qualified XII (0.75) 10.725 11.162 4.07% 267,227.4 2,982,792
Qualified XII (0.80) 10.855 11.294 4.04% 1,518,174.4 17,145,774
Qualified XII (0.85) 11.717 12.186 4.00% 404,882.4 4,933,874
Qualified XII (0.90) 10.811 11.239 3.96% 13,172.6 148,043
Qualified XII (0.95) 11.675 12.133 3.92% 397,453.9 4,822,126
Qualified XII (1.00) 11.654 12.106 3.88% 1,647,867.9 19,949,108
Qualified XII (1.05) 11.632 12.079 3.84% 61,354.3 741,126
Qualified XII (1.10) 11.611 12.053 3.81% 56,067.9 675,787
Qualified XII (1.15) 11.590 12.027 3.77% 51,006.4 613,433
Qualified XII (1.20) 11.569 12.000 3.73% 37,801.1 453,621
Qualified XII (1.25) 11.548 11.974 3.69% 16,747.1 200,529
Qualified XII (1.30) 11.527 11.948 3.65% 3,116.4 37,233
Qualified XII (1.35) 11.577 11.921 2.97% (2) 55.3 659
Qualified XII (1.40) 11.485 11.895 3.57% 4,321.1 51,402
Qualified XII (1.50) 11.443 11.843 3.50% 9,924.5 117,539
Qualified XIII 13.057 13.569 3.92% 92,229.3 1,251,436
Qualified XV 13.035 13.546 3.92% 79,560.5 1,077,744
Qualified XVI 12.829 13.277 3.49% 137,385.1 1,824,062
Qualified XVII 12.917 13.393 3.69% 480,778.1 6,439,018
Qualified XVIII 12.917 13.393 3.69% 818,705.4 10,964,850
Qualified XIX 45.192 46.880 3.74% 16,771.6 786,246
Qualified XX 44.501 46.142 3.69% 77,674.8 3,584,074
Qualified XXI 13.047 13.574 4.04% 121,488.2 1,649,072
Qualified XXII 13.069 13.597 4.04% 147,659.6 2,007,655
Qualified XXIV 11.938 12.110 1.44% (6) 115,316.6 1,396,480
Qualified XXVII 44.732 46.401 3.73% (2) 643,729.3 29,869,945
</TABLE>
S-64
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
AETNA MONEY MARKET VP: (continued):
Qualified XXVIII $ 44.735 $ 46.142 3.15% (2) 239,831.2 $ 11,066,298
Annuity contracts in
payment period 79,572
--------------------------------------------------------------------------------------------------------------------------
AETNA SMALL COMPANY VP:
Qualified V 17.540 20.147 14.86% 708.7 14,278
Qualified VI 17.617 20.260 15.00% 2,407,113.6 48,767,139
Qualified VIII 17.613 20.254 14.99% 620.7 12,571
Qualified X (1.15) 17.665 20.330 15.09% 21,414.3 435,356
Qualified X (1.25) 17.617 20.260 15.00% 290,374.2 5,882,863
Qualified XI 17.778 20.529 15.47% 129,743.7 2,663,502
Qualified XII (0.35) 12.599 13.861 10.02% (5) 54,139.8 750,409
Qualified XII (0.40) 17.873 20.685 15.73% 314.5 6,504
Qualified XII (0.45) 11.953 13.828 15.69% 106,558.3 1,473,477
Qualified XII (0.55) 11.933 13.795 15.60% 22,276.7 307,314
Qualified XII (0.65) 11.914 13.763 15.52% 14,296.8 196,764
Qualified XII (0.70) 11.904 13.747 15.48% 23,795.8 327,111
Qualified XII (0.75) 11.895 13.730 15.43% 131,103.7 1,800,110
Qualified XII (0.80) 12.675 14.625 15.38% 1,752,240.2 25,626,693
Qualified XII (0.85) 17.810 20.543 15.35% 82,644.9 1,697,798
Qualified XII (0.90) 12.336 14.224 15.30% 9,144.7 130,072
Qualified XII (0.95) 17.762 20.472 15.26% 62,717.4 1,283,946
Qualified XII (1.00) 17.737 20.436 15.22% 551,175.9 11,264,071
Qualified XII (1.05) 17.713 20.401 15.18% 12,857.9 262,313
Qualified XII (1.10) 17.689 20.366 15.13% 7,796.0 158,769
Qualified XII (1.15) 17.665 20.330 15.09% 14,192.7 288,540
Qualified XII (1.20) 17.641 20.295 15.04% 12,638.2 256,491
Qualified XII (1.25) 17.617 20.260 15.00% 9,816.6 198,880
Qualified XII (1.30) 21.056 20.224 (3.95%) (4) 15,540.7 314,301
Qualified XII (1.35) 22.460 20.189 (10.11%) (2) 88.0 1,778
Qualified XII (1.40) 17.545 20.154 14.87% 1,245.0 25,092
Qualified XII (1.50) 17.497 20.084 14.79% 1,215.2 24,407
Qualified XIII 17.762 20.472 15.26% 30,586.8 626,171
Qualified XV 17.762 20.472 15.26% 13,242.4 271,097
Qualified XVI 17.497 20.084 14.79% 41,024.0 823,940
Qualified XVII 17.617 20.260 15.00% 8,152.7 165,171
Qualified XVIII 17.776 20.496 15.30% 3,682.1 75,469
Qualified XXI 17.778 20.514 15.39% 42,045.7 862,516
Qualified XXII 17.778 20.514 15.39% 47,723.1 978,980
Qualified XXIV 20.872 20.443 (2.06%) (6) 63,429.8 1,296,702
Qualified XXVII 10.292 9.974 (3.09%) (9) 36,547.3 364,517
Annuity contracts in
payment period 41,147
--------------------------------------------------------------------------------------------------------------------------
AETNA TECHNOLOGY VP:
Qualified V 9.916 8.897 (10.28%) (7) 4,464.2 39,716
Qualified VI 9.999 8.903 (10.96%) (5) 1,329,935.3 11,840,059
Qualified VIII 10.480 8.902 (15.06%) (6) 10.1 90
Qualified X (1.25) 9.999 8.903 (10.96%) (5) 165,903.8 1,476,998
Qualified XI 9.849 8.925 (9.38%) (6) 71,765.6 640,536
Qualified XII (0.35) 8.956 8.936 (0.22%) (5) 9,293.8 83,046
Qualified XII (0.55) 10.445 8.927 (14.53%) (7) 5,392.5 48,141
Qualified XII (0.70) 8.273 8.921 7.83% (5) 3,169.0 28,271
Qualified XII (0.75) 8.851 8.919 0.77% (5) 58,908.6 525,409
Qualified XII (0.80) 9.996 8.917 (10.79%) (5) 332,718.5 2,966,845
Qualified XII (0.85) 9.996 8.915 (10.81%) (5) 22,792.0 203,190
Qualified XII (0.90) 9.925 8.913 (10.20%) (7) 1,642.5 14,639
Qualified XII (0.95) 9.735 8.911 (8.46%) (5) 27,534.3 245,353
Qualified XII (1.00) 9.995 8.909 (10.87%) (5) 399,948.2 3,563,044
Qualified XII (1.05) 9.202 8.907 (3.21%) (5) 5,538.1 49,326
Qualified XII (1.10) 9.939 8.905 (10.40%) (6) 9,520.8 84,779
</TABLE>
S-65
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
AETNA TECHNOLOGY VP: (continued):
Qualified XII (1.15) $ 9.851 $ 8.903 (9.62%) (6) 3,708.4 $ 33,014
Qualified XII (1.20) 10.021 8.901 (11.18%) (6) 5,499.1 48,945
Qualified XII (1.25) 9.934 8.898 (10.43%) (6) 838.9 7,465
Qualified XII (1.30) 10.134 8.896 (12.22%) (7) 811.1 7,216
Qualified XII (1.40) 10.067 8.892 (11.67%) (7) 44.5 396
Qualified XII (1.50) 10.630 8.888 (16.39%) (7) 21.7 193
Qualified XIII 9.950 8.914 (10.41%) (6) 2,834.8 25,270
Qualified XV 9.950 8.914 (10.41%) (6) 2,154.0 19,201
Qualified XVI 9.738 8.893 (8.68%) (5) 33,920.3 301,664
Qualified XVII 9.365 8.912 (4.84%) (5) 10,097.5 89,990
Qualified XVIII 8.952 8.912 (0.45%) (5) 6,213.8 55,379
Qualified XXI 8.618 8.920 3.50% (5) 23,413.6 208,842
Qualified XXII 9.496 8.920 (6.07%) (5) 53,113.8 473,760
Qualified XXIV 9.939 8.912 (10.33%) (6) 12,447.7 110,930
Qualified XXVII 9.391 8.715 (7.20%) (9) 33,072.1 288,214
--------------------------------------------------------------------------------------------------------------------------
AETNA VALUE OPPORTUNITY VP:
Qualified V 18.847 20.646 9.55% 551.6 11,388
Qualified VI 18.930 20.761 9.67% 980,862.5 20,363,486
Qualified VIII 18.926 20.755 9.66% 297.2 6,169
Qualified X (1.15) 18.982 20.833 9.75% 2,242.2 46,712
Qualified X (1.25) 18.930 20.761 9.67% 145,928.0 3,029,581
Qualified XI 19.103 21.037 10.12% 56,080.8 1,179,751
Qualified XII (0.35) 12.984 14.007 7.88% (5) 26,721.5 374,278
Qualified XII (0.40) 19.205 21.196 10.37% 70.5 1,495
Qualified XII (0.45) 12.665 13.974 10.34% 8,685.7 121,371
Qualified XII (0.55) 12.645 13.941 10.25% 19,386.8 270,265
Qualified XII (0.65) 12.625 13.908 10.16% 63,720.2 886,213
Qualified XII (0.70) 12.615 13.891 10.11% 162,833.7 2,261,999
Qualified XII (0.75) 12.604 13.875 10.08% 68,632.8 952,290
Qualified XII (0.80) 13.870 15.263 10.04% 361,883.9 5,523,277
Qualified XII (0.85) 19.138 21.051 10.00% 27,510.5 579,132
Qualified XII (0.90) 13.583 14.935 9.95% 6,219.6 92,892
Qualified XII (0.95) 19.085 20.978 9.92% 38,835.6 814,702
Qualified XII (1.00) 19.059 20.942 9.88% 93,725.0 1,962,778
Qualified XII (1.05) 19.033 20.906 9.84% 5,609.9 117,278
Qualified XII (1.10) 19.007 20.869 9.80% 1,786.2 37,276
Qualified XII (1.15) 18.982 20.833 9.75% 8,181.1 170,437
Qualified XII (1.20) 18.956 20.797 9.71% 6,750.9 140,398
Qualified XII (1.25) 18.930 20.761 9.67% 2,379.6 49,401
Qualified XII (1.30) 18.904 20.725 9.63% 8,255.7 171,098
Qualified XII (1.35) 17.510 20.689 18.16% (2) 21.1 436
Qualified XII (1.40) 18.852 20.653 9.55% 562.0 11,606
Qualified XII (1.50) 18.801 20.581 9.47% 263.6 5,425
Qualified XIII 19.085 20.978 9.92% 3,870.4 81,194
Qualified XV 19.085 20.978 9.92% 3,978.4 83,460
Qualified XVI 18.801 20.581 9.47% 13,972.1 287,563
Qualified XVII 18.930 20.761 9.67% 8,254.6 171,372
Qualified XVIII 19.101 21.003 9.96% 7,463.9 156,764
Qualified XXI 19.103 21.021 10.04% 10,432.1 219,294
Qualified XXII 19.103 21.021 10.04% 23,508.2 494,170
Qualified XXIV 19.863 20.949 5.47% (6) 4,092.4 85,731
Qualified XXVII 13.603 15.670 15.20% (2) 135,603.1 2,124,870
Qualified XXVIII 13.603 15.655 15.08% (2) 51,143.0 800,651
--------------------------------------------------------------------------------------------------------------------------
AIM V.I. FUNDS:
CAPITAL APPRECIATION FUND:
Qualified VI 13.753 15.594 13.39% 709,072.4 11,056,955
Qualified VIII 13.752 15.592 13.38% 193.1 3,011
</TABLE>
S-66
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
CAPITAL APPRECIATION FUND: (continued):
Qualified X (1.15) $ 13.762 $ 15.616 13.47% 78.4 $ 1,225
Qualified X (1.25) 13.753 15.594 13.39% 82,726.4 1,289,998
Qualified XI 15.993 15.705 (1.80%) (7) 324.0 5,088
Qualified XII (0.35) 13.648 15.797 15.75% (5) 19,099.7 301,713
Qualified XII (0.55) 13.820 15.751 13.97% 6,479.0 102,053
Qualified XII (0.65) 14.959 15.729 5.15% (2) 1,062.7 16,716
Qualified XII (0.70) 13.805 15.717 13.85% 5,520.2 86,763
Qualified XII (0.75) 13.801 15.706 13.80% 12,783.9 200,785
Qualified XII (0.80) 13.796 15.695 13.76% 86,974.7 1,365,049
Qualified XII (0.85) 13.791 15.684 13.73% 28,889.1 453,082
Qualified XII (0.90) 14.065 15.672 11.43% (5) 144.6 2,267
Qualified XII (0.95) 13.781 15.661 13.64% 15,192.3 237,926
Qualified XII (1.00) 13.777 15.650 13.60% 110,795.3 1,733,916
Qualified XII (1.05) 13.772 15.638 13.55% 6,872.9 107,482
Qualified XII (1.10) 13.767 15.627 13.51% 1,283.4 20,057
Qualified XII (1.15) 13.762 15.616 13.47% 2,220.0 34,667
Qualified XII (1.20) 13.758 15.605 13.42% 944.0 14,731
Qualified XII (1.25) 13.753 15.594 13.39% 2,631.9 41,040
Qualified XII (1.30) 13.748 15.582 13.34% 441.4 6,878
Qualified XII (1.35) 14.449 15.571 7.77% (2) 68.7 1,070
Qualified XII (1.40) 14.449 15.560 7.69% (2) 2,513.4 39,109
Qualified XII (1.50) 14.116 15.538 10.07% (1) 620.1 9,634
Qualified XIII 13.359 15.620 16.92% (1) 7,305.6 114,112
Qualified XV 13.745 15.620 13.64% 4,511.0 70,460
Qualified XVI 13.729 15.538 13.18% 14,288.3 222,006
Qualified XVII 13.759 15.600 13.38% 3,745.3 58,428
Qualified XVIII 13.759 15.600 13.38% 5,165.7 80,587
Qualified XXI 13.372 15.652 17.05% (1) 28,948.1 453,087
Qualified XXII 14.269 15.652 9.69% (2) 24,593.7 384,933
Qualified XXIV 14.837 15.655 5.51% (6) 8,529.3 133,525
Qualified XXVII 9.838 9.661 (1.80%) (9) 18,445.3 178,192
--------------------------------------------------------------------------------------------------------------------------
GROWTH AND INCOME FUND:
Qualified V 11.717 11.826 0.93% (5) 1.9 22
Qualified VI 11.716 11.853 1.17% 2,100,011.1 24,891,614
Qualified VIII 11.715 11.852 1.17% 389.4 4,616
Qualified X (1.15) 10.853 11.870 9.37% (1) 19,442.7 230,788
Qualified X (1.25) 11.716 11.853 1.17% 191,856.8 2,274,095
Qualified XI 12.244 11.937 (2.51%) (9) 609.9 7,280
Qualified XII (0.35) 11.228 12.008 6.95% (5) 34,082.3 409,246
Qualified XII (0.45) 11.781 11.990 1.77% 982.1 11,776
Qualified XII (0.55) 11.773 11.973 1.70% 40,263.4 482,076
Qualified XII (0.65) 11.764 11.956 1.63% 1,662.4 19,876
Qualified XII (0.70) 11.760 11.947 1.59% 10,504.4 125,498
Qualified XII (0.75) 11.756 11.939 1.56% 101,905.5 1,216,615
Qualified XII (0.80) 11.752 11.930 1.51% 370,597.5 4,421,253
Qualified XII (0.85) 11.748 11.922 1.48% 57,103.2 680,756
Qualified XII (0.90) 12.256 11.913 (2.80%) (4) 346.9 4,132
Qualified XII (0.95) 11.740 11.904 1.40% 47,094.8 560,632
Qualified XII (1.00) 11.736 11.896 1.36% 430,201.6 5,117,586
Qualified XII (1.05) 11.732 11.887 1.32% 24,452.4 290,672
Qualified XII (1.10) 11.728 11.879 1.29% 9,629.7 114,388
Qualified XII (1.15) 11.724 11.870 1.25% 6,731.9 79,909
Qualified XII (1.20) 11.720 11.862 1.21% 13,933.7 165,276
Qualified XII (1.25) 11.716 11.853 1.17% 3,852.2 45,661
Qualified XII (1.30) 11.712 11.845 1.14% 4,222.0 50,008
Qualified XII (1.35) 11.204 11.836 5.64% (2) 27.7 328
Qualified XII (1.40) 11.707 11.828 1.03% (2) 245.5 2,904
</TABLE>
S-67
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
GROWTH AND INCOME FUND: (continued):
Qualified XII (1.50) $ 11.695 $ 11.811 0.99% 1,868.0 $ 22,062
Qualified XIII 11.710 11.874 1.40% 16,939.9 201,141
Qualified XV 11.710 11.874 1.40% 2,303.8 27,355
Qualified XVI 11.695 11.811 0.99% 29,310.6 346,173
Qualified XVII 11.721 11.858 1.17% 10,651.5 126,308
Qualified XVIII 11.721 11.858 1.17% 18,172.7 215,497
Qualified XXI 11.721 11.898 1.51% 6,832.4 81,293
Qualified XXII 11.815 11.898 0.70% (2) 7,382.8 87,842
Qualified XXIV 11.807 11.900 0.79% (6) 11,934.8 142,020
Qualified XXVII 9.776 9.399 (3.86%) (9) 139,509.3 1,311,235
--------------------------------------------------------------------------------------------------------------------------
GROWTH FUND:
Qualified V 12.055 12.199 1.19% 4.6 56
Qualified VI 12.069 12.227 1.31% 966,047.6 11,812,144
Qualified X (1.15) 12.077 12.245 1.39% 1,148.8 14,067
Qualified X (1.25) 12.069 12.227 1.31% 125,732.4 1,537,366
Qualified XI 12.591 12.314 (2.20%) (8) 370.5 4,562
Qualified XII (0.35) 11.987 12.387 3.34% (5) 17,356.0 214,982
Qualified XII (0.55) 12.127 12.351 1.85% 12,759.9 157,598
Qualified XII (0.65) 12.119 12.333 1.77% 3,054.8 37,675
Qualified XII (0.70) 12.115 12.324 1.73% 6,990.9 86,158
Qualified XII (0.75) 12.111 12.316 1.69% 36,570.6 450,388
Qualified XII (0.80) 12.106 12.307 1.66% 240,886.4 2,964,515
Qualified XII (0.85) 12.102 12.298 1.62% 43,486.8 534,795
Qualified XII (0.90) 12.098 12.289 1.58% 3,978.9 48,897
Qualified XII (0.95) 12.094 12.280 1.54% 58,195.4 714,647
Qualified XII (1.00) 12.090 12.271 1.50% 137,357.2 1,685,558
Qualified XII (1.05) 12.085 12.263 1.47% 11,627.3 142,580
Qualified XII (1.10) 12.081 12.254 1.43% 1,428.7 17,507
Qualified XII (1.15) 12.077 12.245 1.39% 5,377.1 65,842
Qualified XII (1.20) 12.073 12.236 1.35% 5,069.5 62,031
Qualified XII (1.25) 12.069 12.227 1.31% 4,963.4 60,689
Qualified XII (1.30) 12.064 12.218 1.28% 699.1 8,542
Qualified XII (1.35) 12.477 12.210 (2.14%) (2) 49.9 609
Qualified XII (1.40) 12.056 12.201 1.20% 1,229.0 14,995
Qualified XII (1.50) 12.048 12.183 1.12% 325.7 3,968
Qualified XIII 12.098 12.285 1.55% 5,158.2 63,368
Qualified XV 12.098 12.285 1.55% 2,373.4 29,157
Qualified XVI 12.048 12.183 1.12% 21,517.9 262,161
Qualified XVII 14.498 12.233 (15.62%) (3) 233.2 2,853
Qualified XVIII 12.306 12.233 (0.59%) (1) 2,775.8 33,955
Qualified XXI 12.110 12.310 1.65% 7,247.2 89,214
Qualified XXII 12.655 12.310 (2.73%) (2) 17,951.8 220,988
Qualified XXIV 12.619 12.275 (2.73%) (6) 5,835.3 71,630
Qualified XXVII 9.482 9.237 (2.58%) (9) 11,686.4 107,946
--------------------------------------------------------------------------------------------------------------------------
VALUE FUND:
Qualified III 11.650 10.920 (6.27%) (6) 9.6 105
Qualified V 11.493 10.629 (7.52%) 7.7 81
Qualified VI 11.506 10.654 (7.40%) 835,051.0 8,896,465
Qualified X (1.15) 11.514 10.669 (7.34%) 1,770.9 18,894
Qualified X (1.25) 11.506 10.654 (7.40%) 110,832.1 1,180,782
Qualified XII (0.35) 11.026 10.793 (2.11%) (5) 7,396.6 79,829
Qualified XII (0.45) 11.570 10.777 (6.85%) 38,614.0 416,147
Qualified XII (0.55) 11.562 10.762 (6.92%) 3,108.0 33,448
Qualified XII (0.65) 11.554 10.746 (6.99%) 2,196.0 23,598
Qualified XII (0.70) 11.550 10.738 (7.03%) 88,043.8 945,452
Qualified XII (0.75) 11.546 10.731 (7.06%) 42,678.2 457,969
Qualified XII (0.80) 11.542 10.723 (7.10%) 409,599.1 4,392,127
</TABLE>
S-68
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
VALUE FUND: (continued):
Qualified XII (0.85) $ 11.538 $ 10.715 (7.13%) 31,721.7 $ 339,908
Qualified XII (0.90) 11.534 10.708 (7.16%) 1,953.4 20,916
Qualified XII (0.95) 11.530 10.700 (7.20%) 24,904.0 266,470
Qualified XII (1.00) 11.526 10.692 (7.24%) 76,697.7 820,067
Qualified XII (1.05) 11.522 10.684 (7.27%) 5,416.7 57,875
Qualified XII (1.10) 11.518 10.677 (7.30%) 13,516.1 144,309
Qualified XII (1.15) 11.514 10.669 (7.34%) 3,038.1 32,414
Qualified XII (1.20) 11.510 10.661 (7.38%) 1,768.3 18,852
Qualified XII (1.25) 10.796 10.654 (1.32%) (1) 9,809.7 104,510
Qualified XII (1.30) 11.502 10.646 (7.44%) 1,058.2 11,266
Qualified XII (1.35) 11.307 10.638 (5.92%) (2) 122.9 1,307
Qualified XII (1.40) 11.494 10.631 (7.51%) 1,673.0 17,786
Qualified XII (1.50) 11.486 10.616 (7.57%) 501.2 5,321
Qualified XIII 11.495 10.667 (7.20%) 12,476.8 133,095
Qualified XV 11.495 10.667 (7.20%) 1,861.1 19,853
Qualified XVI 11.486 10.616 (7.57%) 9,365.1 99,415
Qualified XVII 11.511 10.658 (7.41%) 24,286.7 258,859
Qualified XVIII 11.511 10.658 (7.41%) 4,826.1 51,439
Qualified XXI 11.036 10.689 (3.14%) (1) 14,786.0 158,052
Qualified XXII 11.754 10.689 (9.06%) (2) 12,950.0 138,426
Qualified XXIV 11.438 10.696 (6.49%) (6) 23,785.6 254,403
Qualified XXVII 9.503 9.130 (3.93%) (9) 9,756.9 89,081
--------------------------------------------------------------------------------------------------------------------------
CALVERT SOCIAL BALANCED PORTFOLIO:
Qualified III 30.131 31.035 3.00% 17,517.2 543,648
Qualified V 23.131 23.797 2.88% 1,576.7 37,521
Qualified VI 22.705 23.386 3.00% 1,067,899.4 24,973,908
Qualified VIII 20.623 21.241 3.00% 6,464.3 137,306
Qualified X (1.25) 11.637 11.986 3.00% 23,960.4 287,194
Qualified XI 22.998 23.785 3.42% 65,075.1 1,547,804
Qualified XII (0.35) 11.718 12.432 6.09% (5) 114,824.9 1,427,537
Qualified XII (0.40) 16.740 17.352 3.66% 274.9 4,770
Qualified XII (0.45) 11.970 12.403 3.62% 39,330.8 487,818
Qualified XII (0.55) 11.951 12.374 3.54% 9,955.5 123,186
Qualified XII (0.65) 11.932 12.345 3.46% 3,955.8 48,832
Qualified XII (0.70) 11.922 12.330 3.42% 20,388.4 251,390
Qualified XII (0.75) 11.912 12.316 3.39% 27,134.5 334,176
Qualified XII (0.80) 12.530 12.949 3.34% 146,545.2 1,897,589
Qualified XII (0.85) 16.697 17.249 3.31% 202,152.2 3,486,965
Qualified XII (0.90) 12.414 12.820 3.27% 3,950.8 50,648
Qualified XII (0.95) 16.636 17.174 3.23% 72,225.5 1,240,374
Qualified XII (1.00) 16.606 17.136 3.19% 163,305.6 2,798,417
Qualified XII (1.05) 16.576 17.098 3.15% 33,942.4 580,365
Qualified XII (1.10) 16.546 17.061 3.11% 15,850.7 270,429
Qualified XII (1.15) 16.515 17.024 3.08% 28,155.1 479,304
Qualified XII (1.20) 16.485 16.986 3.04% 7,225.2 122,729
Qualified XII (1.25) 16.455 16.949 3.00% 815.0 13,814
Qualified XII (1.30) 16.426 16.912 2.96% 1,375.3 23,260
Qualified XII (1.35) 15.730 16.875 7.28% (2) 130.9 2,208
Qualified XII (1.40) 16.366 16.838 2.88% 1,257.0 21,166
Qualified XII (1.50) 16.306 16.764 2.81% 1,004.4 16,839
Qualified XIII 22.951 23.693 3.23% 17,022.2 403,306
Qualified XV 22.913 23.654 3.23% 5,919.0 140,006
Qualified XVI 22.550 23.184 2.81% 28,635.6 663,878
Qualified XVII 22.705 23.386 3.00% 963.1 22,522
Qualified XVIII 11.637 11.986 3.00% 9,410.8 112,800
Qualified XXI 22.935 23.702 3.34% 2,981.4 70,666
Qualified XXII 22.973 23.741 3.34% 3,546.3 84,195
</TABLE>
S-69
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
CALVERT SOCIAL BALANCED PORTFOLIO: (continued):
Qualified XXIV $ 16.973 $ 17.142 1.00% (6) 20,338.0 $ 348,627
Qualified XXVII 29.380 31.064 5.73% (2) 711,364.3 22,097,900
Qualified XXVIII 29.380 31.035 5.63% (2) 68,435.3 2,123,895
--------------------------------------------------------------------------------------------------------------------------
FIDELITY INVESTMENTS VARIABLE INSURANCE PRODUCTS FUND:
EQUITY-INCOME PORTFOLIO:
Qualified III 19.201 19.833 3.29% 867.1 17,197
Qualified V 18.143 18.717 3.16% 411.3 7,698
Qualified VI 18.334 18.937 3.29% 4,278,388.8 81,018,030
Qualified VIII 18.265 18.865 3.28% 4,235.5 79,903
Qualified X (1.15) 23.071 23.847 3.36% 87,221.6 2,080,002
Qualified X (1.25) 22.942 23.697 3.29% 939,492.3 22,262,802
Qualified XI 18.570 19.260 3.72% 166,978.5 3,215,925
Qualified XII (0.35) 10.595 10.990 3.73% (5) 169,799.4 1,866,090
Qualified XII (0.40) 16.089 16.723 3.94% 761.8 12,740
Qualified XII (0.45) 10.552 10.964 3.90% 148,561.2 1,628,834
Qualified XII (0.55) 10.535 10.938 3.83% 56,429.7 617,240
Qualified XII (0.65) 10.518 10.912 3.75% 101,910.8 1,112,098
Qualified XII (0.70) 10.509 10.900 3.72% 48,369.9 527,211
Qualified XII (0.75) 10.501 10.887 3.68% 147,293.4 1,603,546
Qualified XII (0.80) 11.445 11.861 3.63% 692,880.2 8,218,314
Qualified XII (0.85) 16.047 16.624 3.60% 282,603.1 4,698,036
Qualified XII (0.90) 11.245 11.645 3.56% 6,760.1 78,721
Qualified XII (0.95) 15.989 16.551 3.51% 177,634.2 2,940,079
Qualified XII (1.00) 15.960 16.515 3.48% 278,952.9 4,606,941
Qualified XII (1.05) 15.931 16.479 3.44% 65,538.0 1,079,996
Qualified XII (1.10) 15.902 16.443 3.40% 39,470.5 649,008
Qualified XII (1.15) 15.873 16.407 3.36% 53,032.1 870,087
Qualified XII (1.20) 15.844 16.371 3.33% 23,074.4 377,747
Qualified XII (1.25) 15.815 16.335 3.29% 14,978.1 244,668
Qualified XII (1.30) 15.786 16.299 3.25% 6,030.9 98,299
Qualified XII (1.35) 13.910 16.263 16.92% (2) 66.0 1,073
Qualified XII (1.40) 15.729 16.228 3.17% 1,891.0 30,687
Qualified XII (1.50) 15.672 16.157 3.09% 5,819.7 94,028
Qualified XIII 18.533 19.185 3.52% 19,529.4 374,675
Qualified XV 18.502 19.153 3.52% 12,454.3 238,541
Qualified XVI 18.209 18.773 3.10% 118,732.6 2,228,937
Qualified XVII 18.334 18.937 3.29% 33,418.5 632,832
Qualified XVIII 22.942 23.697 3.29% 15,721.8 372,554
Qualified XXI 18.519 19.192 3.63% 24,586.0 471,867
Qualified XXII 18.550 19.224 3.63% 35,909.3 690,335
Qualified XXIV 15.457 16.521 6.88% (6) 69,966.8 1,155,887
Qualified XXVII 17.293 19.851 14.79% (2) 1,524,398.6 30,260,933
Qualified XXVIII 17.293 19.833 14.69% (2) 370,746.6 7,352,847
--------------------------------------------------------------------------------------------------------------------------
GROWTH PORTFOLIO:
Qualified I 24.603 24.757 0.63% 2,653.5 65,690
Qualified III 26.340 26.492 0.58% 139.3 3,690
Qualified V 26.134 26.254 0.46% 1,983.3 52,069
Qualified VI 25.999 26.149 0.58% 10,491,337.7 274,340,542
Qualified VIII 26.310 26.461 0.57% 8,174.2 216,293
Qualified X (1.15) 36.363 36.601 0.65% 68,000.8 2,488,907
Qualified X (1.25) 36.160 36.369 0.58% 1,520,493.0 55,299,110
Qualified XI 26.334 26.595 0.99% 598,337.1 15,912,856
Qualified XII (0.35) 16.211 16.891 4.19% (5) 557,819.5 9,422,118
Qualified XII (0.40) 23.989 24.281 1.22% 2,014.1 48,905
Qualified XII (0.45) 16.655 16.851 1.18% 119,298.0 2,010,309
Qualified XII (0.55) 16.628 16.811 1.10% 150,172.1 2,524,616
Qualified XII (0.65) 16.601 16.772 1.03% 323,814.5 5,430,989
</TABLE>
S-70
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
GROWTH PORTFOLIO: (continued):
Qualified XII (0.70) $ 16.588 $ 16.752 0.99% 110,681.9 $ 1,854,159
Qualified XII (0.75) 16.574 16.732 0.95% 451,681.6 7,557,730
Qualified XII (0.80) 18.143 18.310 0.92% 2,169,309.6 39,719,423
Qualified XII (0.85) 23.927 24.138 0.88% 584,193.9 14,101,019
Qualified XII (0.90) 17.677 17.826 0.84% 15,360.2 273,813
Qualified XII (0.95) 23.840 24.032 0.81% 474,261.1 11,397,386
Qualified XII (1.00) 23.797 23.979 0.76% 1,191,086.4 28,561,438
Qualified XII (1.05) 23.754 23.927 0.73% 119,668.4 2,863,271
Qualified XII (1.10) 23.710 23.874 0.69% 67,472.7 1,610,870
Qualified XII (1.15) 23.667 23.822 0.65% 111,306.3 2,651,545
Qualified XII (1.20) 23.624 23.770 0.62% 61,724.5 1,467,184
Qualified XII (1.25) 23.581 23.718 0.58% 30,186.3 715,953
Qualified XII (1.30) 23.538 23.666 0.54% 22,430.6 530,837
Qualified XII (1.35) 23.491 23.614 0.52% (2) 446.3 10,539
Qualified XII (1.40) 23.453 23.562 0.46% 6,430.8 151,524
Qualified XII (1.50) 23.368 23.459 0.39% 4,044.8 94,888
Qualified XIII 26.281 26.492 0.80% 85,674.9 2,269,739
Qualified XV 26.237 26.448 0.80% 62,760.3 1,659,910
Qualified XVI 25.822 25.923 0.39% 206,651.0 5,357,034
Qualified XVII 25.999 26.149 0.58% 60,825.2 1,590,532
Qualified XVIII 36.160 36.369 0.58% 68,279.1 2,483,258
Qualified XXI 26.262 26.503 0.92% 104,617.0 2,772,612
Qualified XXII 26.305 26.547 0.92% 93,382.0 2,478,981
Qualified XXIV 24.889 23.987 (3.62%) (6) 154,637.8 3,709,319
--------------------------------------------------------------------------------------------------------------------------
HIGH INCOME PORTFOLIO:
Qualified XXVII 9.522 8.632 (9.35%) (2) 165,615.9 1,429,638
Qualified XXVIII 9.523 8.624 (9.44%) (2) 172,464.9 1,487,367
--------------------------------------------------------------------------------------------------------------------------
OVERSEAS PORTFOLIO:
Qualified V 19.108 16.649 (12.87%) 65.9 1,097
Qualified VI 19.243 16.787 (12.76%) 660,890.2 11,094,467
Qualified VIII 19.237 16.780 (12.77%) 357.1 5,993
Qualified X (1.15) 19.936 17.405 (12.70%) 9,198.3 160,094
Qualified X (1.25) 19.825 17.294 (12.77%) 151,377.3 2,617,990
Qualified XI 19.492 17.073 (12.41%) 24,773.3 422,966
Qualified XII (0.35) 12.131 11.797 (2.75%) (5) 46,526.6 548,853
Qualified XII (0.40) 18.709 16.425 (12.21%) 306.2 5,029
Qualified XII (0.45) 13.410 11.769 (12.24%) 11,935.1 140,461
Qualified XII (0.55) 13.389 11.741 (12.31%) 8,382.8 98,423
Qualified XII (0.65) 13.367 11.713 (12.37%) 16,850.7 197,378
Qualified XII (0.70) 13.356 11.700 (12.40%) 12,248.6 143,303
Qualified XII (0.75) 13.346 11.686 (12.44%) 15,907.2 185,888
Qualified XII (0.80) 14.900 13.042 (12.47%) 42,194.6 550,282
Qualified XII (0.85) 18.661 16.327 (12.51%) 25,590.6 417,829
Qualified XII (0.90) 14.905 13.036 (12.54%) 3,229.0 42,094
Qualified XII (0.95) 18.593 16.256 (12.57%) 16,351.7 265,812
Qualified XII (1.00) 18.559 16.220 (12.60%) 40,842.3 662,477
Qualified XII (1.05) 18.525 16.185 (12.63%) 10,182.6 164,803
Qualified XII (1.10) 18.492 16.149 (12.67%) 8,261.2 133,413
Qualified XII (1.15) 18.458 16.114 (12.70%) 9,739.7 156,946
Qualified XII (1.20) 18.424 16.079 (12.73%) 3,385.0 54,427
Qualified XII (1.25) 18.391 16.043 (12.77%) 8,023.5 128,725
Qualified XII (1.30) 18.357 16.008 (12.80%) 2,282.6 36,541
Qualified XII (1.35) 17.843 15.973 (10.48%) (2) 11.7 187
Qualified XII (1.40) 18.291 15.938 (12.86%) 995.7 15,869
Qualified XII (1.50) 18.224 15.869 (12.92%) 91.4 1,450
Qualified XIII 19.452 17.007 (12.57%) 11,487.6 195,375
Qualified XV 19.420 16.979 (12.57%) 4,828.8 81,990
</TABLE>
S-71
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
OVERSEAS PORTFOLIO: (continued):
Qualified XVI $ 19.112 $ 16.642 (12.92%) 13,925.0 $ 231,738
Qualified XVII 19.243 16.787 (12.76%) 1,556.7 26,133
Qualified XVIII 19.825 17.294 (12.77%) 3,016.5 52,168
Qualified XXI 19.438 17.014 (12.47%) 9,264.5 157,626
Qualified XXII 19.470 17.042 (12.47%) 13,322.6 227,047
Qualified XXIV 17.531 16.226 (7.44%) (6) 20,672.2 335,420
Qualified XXVII 9.535 9.247 (3.02%) (9) 487.5 4,508
--------------------------------------------------------------------------------------------------------------------------
FIDELITY INVESTMENTS VARIABLE INSURANCE PRODUCTS FUND II:
ASSET MANAGER PORTFOLIO:
Qualified XXVII 17.740 18.174 2.45% (2) 1,260,287.0 22,904,579
Qualified XXVIII 17.740 18.157 2.35% (2) 123,472.8 2,241,911
--------------------------------------------------------------------------------------------------------------------------
CONTRAFUND PORTFOLIO:
Qualified III 27.214 26.946 (0.98%) 1,616.2 43,550
Qualified V 24.046 23.782 (1.10%) 2,448.3 58,225
Qualified VI 24.053 23.817 (0.98%) 8,772,230.1 208,924,010
Qualified VIII 24.208 23.969 (0.99%) 3,936.1 94,346
Qualified X (1.15) 27.150 26.903 (0.91%) 16,463.6 442,922
Qualified X (1.25) 27.024 26.759 (0.98%) 803,739.1 21,507,284
Qualified XI 24.363 24.223 (0.57%) 217,128.7 5,259,429
Qualified XII (0.35) 13.485 14.172 5.09% (5) 366,013.4 5,187,197
Qualified XII (0.40) 22.045 21.967 (0.35%) 2,226.2 48,904
Qualified XII (0.45) 14.194 14.139 (0.39%) 341,139.9 4,823,282
Qualified XII (0.55) 14.171 14.105 (0.47%) 125,324.9 1,767,761
Qualified XII (0.65) 14.148 14.072 (0.54%) 266,642.1 3,752,243
Qualified XII (0.70) 14.137 14.056 (0.57%) 85,694.1 1,204,484
Qualified XII (0.75) 14.126 14.039 (0.62%) 414,623.0 5,820,926
Qualified XII (0.80) 15.518 15.417 (0.65%) 1,717,072.6 26,471,901
Qualified XII (0.85) 21.988 21.837 (0.69%) 232,684.8 5,081,141
Qualified XII (0.90) 15.138 15.028 (0.73%) 30,475.4 457,991
Qualified XII (0.95) 21.908 21.741 (0.76%) 360,078.8 7,828,599
Qualified XII (1.00) 21.868 21.694 (0.80%) 1,512,742.8 32,817,147
Qualified XII (1.05) 21.828 21.646 (0.83%) 125,958.0 2,726,516
Qualified XII (1.10) 21.789 21.599 (0.87%) 57,648.2 1,245,138
Qualified XII (1.15) 21.749 21.552 (0.91%) 74,648.4 1,608,788
Qualified XII (1.20) 21.710 21.504 (0.95%) 32,372.6 696,150
Qualified XII (1.25) 21.670 21.457 (0.98%) 16,010.3 343,537
Qualified XII (1.30) 21.631 21.410 (1.02%) 13,041.0 279,210
Qualified XII (1.35) 20.986 21.363 1.80% (2) 92.3 1,972
Qualified XII (1.40) 21.552 21.317 (1.09%) 8,009.0 170,724
Qualified XII (1.50) 21.474 21.223 (1.17%) 5,302.2 112,531
Qualified XIII 24.314 24.129 (0.76%) 73,767.0 1,779,931
Qualified XV 24.274 24.089 (0.76%) 38,400.1 925,022
Qualified XVI 23.889 23.610 (1.17%) 157,971.6 3,729,785
Qualified XVII 24.053 23.817 (0.98%) 34,773.4 828,182
Qualified XVIII 27.024 26.759 (0.98%) 20,259.6 542,127
Qualified XXI 24.296 24.138 (0.65%) 74,774.6 1,804,934
Qualified XXII 24.336 24.178 (0.65%) 114,974.7 2,779,914
Qualified XXIV 21.474 21.701 1.06% (6) 138,794.9 3,011,972
Qualified XXVII 27.021 26.972 (0.18%) (2) 3,111,133.0 83,912,380
Qualified XXVIII 27.021 26.946 (0.28%) (2) 594,622.7 16,022,968
--------------------------------------------------------------------------------------------------------------------------
INDEX 500 PORTFOLIO:
Qualified XXVII 26.558 27.463 3.41% (2) 3,586,123.8 98,487,470
Qualified XXVIII 26.559 27.438 3.31% (2) 615,746.0 16,894,750
--------------------------------------------------------------------------------------------------------------------------
</TABLE>
S-72
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
JANUS ASPEN SERIES:
AGGRESSIVE GROWTH PORTFOLIO:
Qualified I $ 32.516 $ 31.991 (1.61%) 2,923.0 $ 93,509
Qualified III 53.644 52.756 (1.66%) 83,597.3 4,410,230
Qualified V 46.252 45.431 (1.78%) 4,521.8 205,431
Qualified VI 46.640 45.868 (1.66%) 15,044,349.6 690,048,328
Qualified VIII 46.621 45.846 (1.66%) 8,706.9 399,181
Qualified X (1.15) 45.235 44.519 (1.58%) 58,910.2 2,622,623
Qualified X (1.25) 45.025 44.279 (1.66%) 1,461,159.4 64,698,371
Qualified XI 47.242 46.650 (1.25%) 811,193.6 37,842,189
Qualified XII (0.35) 23.888 26.995 13.01% (5) 884,185.8 23,868,898
Qualified XII (0.40) 31.711 31.384 (1.03%) 6,035.6 189,423
Qualified XII (0.45) 27.222 26.932 (1.07%) 204,808.7 5,515,855
Qualified XII (0.55) 27.178 26.868 (1.14%) 167,634.2 4,504,050
Qualified XII (0.65) 27.135 26.805 (1.22%) 254,010.6 6,808,770
Qualified XII (0.70) 27.113 26.773 (1.25%) 198,488.0 5,314,215
Qualified XII (0.75) 27.091 26.742 (1.29%) 620,444.6 16,591,913
Qualified XII (0.80) 29.195 28.808 (1.33%) 3,704,193.3 106,711,765
Qualified XII (0.85) 31.629 31.198 (1.36%) 730,737.9 22,797,923
Qualified XII (0.90) 28.662 28.261 (1.40%) 29,674.7 838,630
Qualified XII (0.95) 31.514 31.062 (1.43%) 806,156.7 25,040,725
Qualified XII (1.00) 31.457 30.994 (1.47%) 2,298,468.3 71,238,443
Qualified XII (1.05) 31.400 30.926 (1.51%) 232,298.1 7,184,035
Qualified XII (1.10) 31.343 30.858 (1.55%) 93,325.6 2,879,866
Qualified XII (1.15) 31.286 30.791 (1.58%) 136,115.9 4,191,091
Qualified XII (1.20) 31.229 30.723 (1.62%) 76,981.1 2,365,101
Qualified XII (1.25) 31.172 30.656 (1.66%) 33,118.4 1,015,275
Qualified XII (1.30) 31.116 30.589 (1.69%) 25,825.9 789,979
Qualified XII (1.35) 30.334 30.522 0.62% (1) 1,171.2 35,748
Qualified XII (1.40) 31.003 30.455 (1.77%) 13,322.8 405,745
Qualified XII (1.50) 30.890 30.322 (1.84%) 9,998.6 303,172
Qualified XIII 47.147 46.470 (1.44%) 138,337.8 6,428,528
Qualified XV 47.068 46.392 (1.44%) 116,093.6 5,385,868
Qualified XVI 46.323 45.471 (1.84%) 226,431.1 10,296,025
Qualified XVII 46.640 45.868 (1.66%) 75,004.5 3,440,279
Qualified XVIII 45.025 44.279 (1.66%) 74,668.9 3,306,248
Qualified XXI 47.112 46.487 (1.33%) 286,442.0 13,315,936
Qualified XXII 47.190 46.565 (1.32%) 167,754.0 7,811,448
Qualified XXIV 31.793 31.004 (2.48%) (6) 326,698.1 10,128,951
Qualified XXVII 61.680 52.805 (14.39%) (2) 3,223,534.4 170,219,279
Qualified XXVIII 61.681 52.756 (14.47%) (2) 685,170.5 36,146,599
--------------------------------------------------------------------------------------------------------------------------
BALANCED PORTFOLIO:
Qualified III 24.929 24.737 (0.77%) 565.1 13,980
Qualified V 24.747 24.527 (0.89%) 342.1 8,392
Qualified VI 24.922 24.731 (0.77%) 6,647,053.1 164,385,408
Qualified VIII 24.913 24.721 (0.77%) 3,829.6 94,669
Qualified X (1.15) 25.978 25.798 (0.69%) 87,118.5 2,247,442
Qualified X (1.25) 25.859 25.661 (0.77%) 934,604.1 23,982,898
Qualified XI 25.243 25.152 (0.36%) 331,196.0 8,330,339
Qualified XII (0.35) 14.368 14.919 3.83% (5) 275,574.5 4,111,354
Qualified XII (0.40) 22.571 22.541 (0.13%) 772.7 17,417
Qualified XII (0.45) 14.910 14.884 (0.17%) 374,078.4 5,567,798
Qualified XII (0.55) 14.886 14.849 (0.25%) 142,721.0 2,119,263
Qualified XII (0.65) 14.862 14.814 (0.32%) 255,729.6 3,788,384
Qualified XII (0.70) 14.850 14.797 (0.36%) 59,777.4 884,501
Qualified XII (0.75) 14.838 14.779 (0.40%) 358,144.0 5,293,055
Qualified XII (0.80) 16.022 15.952 (0.44%) 977,164.3 15,588,107
Qualified XII (0.85) 22.513 22.407 (0.47%) 159,178.0 3,566,704
</TABLE>
S-73
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
BALANCED PORTFOLIO: (continued):
Qualified XII (0.90) $ 15.690 $ 15.610 (0.51%) 5,673.1 $ 88,558
Qualified XII (0.95) 22.431 22.309 (0.54%) 290,063.8 6,471,004
Qualified XII (1.00) 22.390 22.260 (0.58%) 1,042,062.9 23,196,372
Qualified XII (1.05) 22.350 22.211 (0.62%) 106,551.5 2,366,643
Qualified XII (1.10) 22.309 22.163 (0.65%) 42,112.7 933,330
Qualified XII (1.15) 22.269 22.114 (0.70%) 87,706.5 1,939,550
Qualified XII (1.20) 22.228 22.066 (0.73%) 28,285.7 624,141
Qualified XII (1.25) 22.188 22.017 (0.77%) 13,883.4 305,675
Qualified XII (1.30) 22.147 21.969 (0.80%) 10,375.4 227,938
Qualified XII (1.35) 21.906 21.921 0.07% (2) 305.5 6,696
Qualified XII (1.40) 22.067 21.873 (0.88%) 18,419.6 402,890
Qualified XII (1.50) 21.987 21.777 (0.96%) 5,641.0 122,845
Qualified XIII 25.192 25.055 (0.54%) 65,197.1 1,633,521
Qualified XV 25.151 25.014 (0.54%) 32,107.4 803,119
Qualified XVI 24.752 24.517 (0.95%) 147,211.3 3,609,127
Qualified XVII 24.922 24.731 (0.77%) 42,421.3 1,049,103
Qualified XVIII 25.859 25.661 (0.77%) 64,003.8 1,642,402
Qualified XXI 25.174 25.065 (0.43%) 96,788.0 2,425,965
Qualified XXII 25.216 25.106 (0.44%) 56,178.6 1,410,442
Qualified XXIV 22.439 22.267 (0.77%) (6) 87,554.5 1,949,604
Qualified XXVII 9.909 9.750 (1.60%) (9) 36,898.3 359,752
--------------------------------------------------------------------------------------------------------------------------
FLEXIBLE INCOME PORTFOLIO:
Qualified III 15.601 15.944 2.20% 2,318.8 36,971
Qualified V 15.411 15.731 2.08% 122.7 1,930
Qualified VI 15.540 15.882 2.20% 1,050,499.9 16,683,692
Qualified VIII 15.534 15.874 2.19% 211.8 3,362
Qualified X (1.25) 10.455 10.684 2.19% 82,344.8 879,791
Qualified XI 15.741 16.153 2.62% 55,982.1 904,257
Qualified XII (0.35) 10.485 10.888 3.84% (5) 59,654.1 649,539
Qualified XII (0.40) 13.210 13.586 2.85% 632.9 8,599
Qualified XII (0.45) 10.566 10.863 2.81% 64,894.7 704,933
Qualified XII (0.55) 10.549 10.837 2.73% 29,407.1 318,688
Qualified XII (0.65) 10.532 10.812 2.66% 86,019.1 930,003
Qualified XII (0.70) 10.523 10.799 2.62% 106,009.5 1,144,779
Qualified XII (0.75) 10.515 10.786 2.58% 15,058.2 162,419
Qualified XII (0.80) 10.727 11.000 2.54% 292,647.6 3,219,018
Qualified XII (0.85) 13.175 13.505 2.50% 48,994.6 661,672
Qualified XII (0.90) 10.712 10.976 2.46% 1,982.6 21,760
Qualified XII (0.95) 13.127 13.446 2.43% 46,630.5 626,985
Qualified XII (1.00) 13.104 13.416 2.38% 441,499.9 5,923,345
Qualified XII (1.05) 13.080 13.387 2.35% 29,403.0 393,618
Qualified XII (1.10) 13.056 13.358 2.31% 7,145.8 95,451
Qualified XII (1.15) 13.032 13.328 2.27% 9,889.2 131,806
Qualified XII (1.20) 13.008 13.299 2.24% 8,365.1 111,249
Qualified XII (1.25) 12.985 13.270 2.19% 7,277.8 96,576
Qualified XII (1.30) 12.961 13.241 2.16% 1,713.6 22,690
Qualified XII (1.35) 13.025 13.212 1.44% (2) 76.2 1,007
Qualified XII (1.40) 12.914 13.183 2.08% 4,625.8 60,982
Qualified XII (1.50) 12.867 13.125 2.01% 461.0 6,050
Qualified XIII 15.709 16.090 2.43% 4,927.2 79,280
Qualified XV 15.683 16.063 2.42% 4,969.8 79,833
Qualified XVI 15.434 15.744 2.01% 14,727.5 231,873
Qualified XVII 15.540 15.882 2.20% 459.5 7,298
Qualified XXI 15.698 16.096 2.54% 8,428.1 135,662
Qualified XXII 15.724 16.123 2.54% 8,671.8 139,816
Qualified XXIV 13.199 13.421 1.68% (6) 20,526.2 275,478
--------------------------------------------------------------------------------------------------------------------------
</TABLE>
S-74
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
GROWTH PORTFOLIO:
Qualified III $ 32.036 $ 32.677 2.00% 1,463.9 $ 47,836
Qualified V 29.183 29.732 1.88% 1,591.8 47,329
Qualified VI 29.366 29.954 2.00% 6,836,286.2 204,771,348
Qualified VIII 29.380 29.966 1.99% 2,455.7 73,590
Qualified X (1.15) 31.550 32.206 2.08% 54,969.9 1,770,370
Qualified X (1.25) 31.406 32.035 2.00% 959,479.5 30,737,130
Qualified XI 29.744 30.464 2.42% 402,915.5 12,274,539
Qualified XII (0.35) 16.099 17.232 7.04% (5) 352,051.9 6,066,449
Qualified XII (0.40) 25.537 26.214 2.65% 1,606.0 42,099
Qualified XII (0.45) 16.753 17.191 2.61% 325,340.8 5,592,963
Qualified XII (0.55) 16.726 17.151 2.54% 96,189.3 1,649,708
Qualified XII (0.65) 16.699 17.110 2.46% 43,626.8 746,465
Qualified XII (0.70) 16.686 17.090 2.42% 282,576.8 4,829,253
Qualified XII (0.75) 16.673 17.070 2.38% 403,335.8 6,884,924
Qualified XII (0.80) 18.335 18.765 2.35% 1,974,549.7 37,052,885
Qualified XII (0.85) 25.471 26.059 2.31% 567,706.1 14,793,574
Qualified XII (0.90) 17.786 18.190 2.27% 13,618.6 247,718
Qualified XII (0.95) 25.378 25.944 2.23% 286,390.5 7,430,219
Qualified XII (1.00) 25.332 25.888 2.19% 685,299.1 17,740,774
Qualified XII (1.05) 25.286 25.831 2.16% 74,178.7 1,916,100
Qualified XII (1.10) 25.240 25.774 2.12% 38,716.5 997,896
Qualified XII (1.15) 25.194 25.718 2.08% 47,790.1 1,229,062
Qualified XII (1.20) 25.148 25.662 2.04% 41,431.9 1,063,205
Qualified XII (1.25) 25.103 25.605 2.00% 19,541.9 500,377
Qualified XII (1.30) 25.057 25.549 1.96% 10,930.9 279,278
Qualified XII (1.35) 24.785 25.493 2.86% (2) 336.5 8,579
Qualified XII (1.40) 24.966 25.438 1.89% 4,969.3 126,406
Qualified XII (1.50) 24.875 25.326 1.81% 4,637.8 117,459
Qualified XIII 29.684 30.347 2.23% 67,574.4 2,050,657
Qualified XV 29.635 30.296 2.23% 38,890.2 1,178,225
Qualified XVI 29.166 29.695 1.81% 121,105.1 3,596,159
Qualified XVII 29.366 29.954 2.00% 46,493.6 1,392,650
Qualified XVIII 31.406 32.035 2.00% 65,495.9 2,098,175
Qualified XXI 29.662 30.358 2.35% 94,049.4 2,855,173
Qualified XXII 29.712 30.409 2.35% 80,369.8 2,443,944
Qualified XXIV 25.641 25.896 0.99% (6) 83,350.1 2,158,443
Qualified XXVII 33.378 32.708 (2.01%) (2) 2,552,240.8 83,478,466
Qualified XXVIII 33.378 32.677 (2.10%) (2) 1,115,853.2 36,463,109
Annuity contracts in
payment period 1,127,802
--------------------------------------------------------------------------------------------------------------------------
WORLDWIDE GROWTH PORTFOLIO:
Qualified I 29.020 27.806 (4.18%) 2,110.6 58,687
Qualified III 38.648 37.014 (4.23%) 1,535.7 56,842
Qualified V 34.593 33.090 (4.34%) 3,403.7 112,629
Qualified VI 34.574 33.112 (4.23%) 16,904,976.1 559,760,493
Qualified VIII 34.465 33.006 (4.23%) 9,796.6 323,347
Qualified X (1.15) 39.011 37.389 (4.16%) 67,204.9 2,512,732
Qualified X (1.25) 38.832 37.190 (4.23%) 1,695,971.4 63,072,614
Qualified XI 35.020 33.677 (3.83%) 935,812.9 31,515,006
Qualified XII (0.35) 16.103 16.182 0.49% (5) 1,137,297.6 18,404,038
Qualified XII (0.40) 28.797 27.755 (3.62%) 6,228.6 172,876
Qualified XII (0.45) 16.757 16.144 (3.66%) 625,207.7 10,093,438
Qualified XII (0.55) 16.730 16.106 (3.73%) 216,111.0 3,480,708
Qualified XII (0.65) 16.703 16.068 (3.80%) 256,615.7 4,123,354
Qualified XII (0.70) 16.689 16.049 (3.83%) 276,748.5 4,441,612
Qualified XII (0.75) 16.676 16.030 (3.87%) 1,293,981.0 20,743,012
Qualified XII (0.80) 19.592 18.826 (3.91%) 5,813,471.0 109,445,841
Qualified XII (0.85) 28.723 27.591 (3.94%) 820,372.1 22,634,817
</TABLE>
S-75
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
WORLDWIDE GROWTH PORTFOLIO: (continued):
Qualified XII (0.90) $ 19.141 $ 18.380 (3.98%) 35,821.2 $ 658,387
Qualified XII (0.95) 28.619 27.470 (4.01%) 700,370.2 19,239,233
Qualified XII (1.00) 28.567 27.410 (4.05%) 2,987,216.4 81,879,778
Qualified XII (1.05) 28.515 27.350 (4.09%) 281,642.4 7,702,917
Qualified XII (1.10) 28.463 27.290 (4.12%) 93,157.1 2,542,275
Qualified XII (1.15) 28.411 27.230 (4.16%) 133,985.0 3,648,464
Qualified XII (1.20) 28.360 27.171 (4.19%) 58,223.0 1,581,962
Qualified XII (1.25) 28.308 27.111 (4.23%) 29,982.2 812,857
Qualified XII (1.30) 28.257 27.052 (4.26%) 28,220.6 763,421
Qualified XII (1.35) 27.255 26.993 (0.96%) (1) 394.6 10,650
Qualified XII (1.40) 28.154 26.934 (4.33%) 15,782.4 425,076
Qualified XII (1.50) 28.052 26.816 (4.41%) 6,709.9 179,930
Qualified XIII 34.949 33.547 (4.01%) 135,884.0 4,558,442
Qualified XV 34.891 33.491 (4.01%) 112,516.2 3,768,266
Qualified XVI 34.339 32.826 (4.41%) 257,143.2 8,440,949
Qualified XVII 34.574 33.112 (4.23%) 102,458.0 3,392,607
Qualified XVIII 38.832 37.190 (4.23%) 92,825.7 3,452,158
Qualified XXI 34.923 33.559 (3.91%) 271,896.3 9,124,655
Qualified XXII 34.982 33.615 (3.91%) 199,269.7 6,698,481
Qualified XXIV 29.012 27.419 (5.49%) (6) 248,756.1 6,820,649
Qualified XXVII 42.335 37.049 (12.49%) (2) 4,665,459.4 172,848,911
Qualified XXVIII 42.335 37.014 (12.57%) (2) 1,599,452.4 59,202,096
Annuity contracts in
payment period 1,200,854
--------------------------------------------------------------------------------------------------------------------------
LEXINGTON EMERGING MARKETS FUND:
Qualified XXVII 15.945 8.599 (46.07%) (2) 721,263.7 6,201,989
Qualified XXVIII 15.945 8.591 (46.12%) (2) 260,406.3 2,237,073
--------------------------------------------------------------------------------------------------------------------------
LEXINGTON NATURAL RESOURCES TRUST FUND:
Qualified III 12.882 13.981 8.53% 4,640.9 64,882
Qualified V 14.253 15.449 8.39% 2,658.6 41,074
Qualified VI 13.900 15.085 8.53% 388,514.2 5,860,576
Qualified VIII 12.047 13.073 8.52% 928.8 12,142
Qualified XI 14.079 15.342 8.97% 20,875.8 320,277
Qualified XII (0.35) 9.158 9.584 4.65% (5) 12,305.8 117,935
Qualified XII (0.40) 10.939 11.947 9.21% 195.0 2,330
Qualified XII (0.45) 8.758 9.561 9.17% 4,176.5 39,932
Qualified XII (0.55) 8.744 9.539 9.09% 3,960.2 37,774
Qualified XII (0.65) 8.729 9.516 9.02% 1,104.4 10,510
Qualified XII (0.70) 8.722 9.505 8.98% 6,272.6 59,620
Qualified XII (0.75) 8.715 9.494 8.94% 20,384.9 193,527
Qualified XII (0.80) 9.524 10.371 8.89% 112,082.4 1,162,359
Qualified XII (0.85) 10.911 11.876 8.84% 22,250.4 264,249
Qualified XII (0.95) 10.871 11.824 8.77% 20,972.8 247,984
Qualified XII (1.00) 10.851 11.798 8.73% 80,779.2 953,050
Qualified XII (1.05) 10.831 11.772 8.69% 3,578.1 42,123
Qualified XII (1.10) 10.812 11.747 8.65% 1,072.8 12,601
Qualified XII (1.15) 10.792 11.721 8.61% 5,204.5 61,000
Qualified XII (1.20) 10.772 11.695 8.57% 2,697.3 31,546
Qualified XII (1.50) 10.655 11.542 8.32% 66.4 767
Qualified XIII 14.051 15.283 8.77% 4,461.0 68,176
Qualified XV 14.028 15.257 8.76% 7,395.6 112,838
Qualified XVI 13.805 14.954 8.32% 5,853.3 87,530
Qualified XVII 13.900 15.085 8.53% 876.3 13,219
Qualified XXI 14.041 15.289 8.89% 3,729.5 57,019
Qualified XXII 14.064 15.314 8.89% 2,501.3 38,305
Qualified XXIV 11.307 11.802 4.38% (6) 6,399.9 75,532
Qualified XXVII 11.702 13.994 19.59% (2) 275,633.6 3,857,119
Qualified XXVIII 11.702 13.981 19.48% (2) 144,288.3 2,017,234
--------------------------------------------------------------------------------------------------------------------------
</TABLE>
S-76
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
MFS FUNDS:
TOTAL RETURN SERIES:
Qualified XXVII $ 10.126 $ 11.673 15.28% (2) 79,747.1 $ 930,849
Qualified XXVIII 10.126 11.662 15.17% (2) 5,651.2 65,902
--------------------------------------------------------------------------------------------------------------------------
OPPENHEIMER FUNDS:
GLOBAL SECURITIES FUND/VA:
Qualified III 16.126 17.398 7.89% 37.5 653
Qualified V 15.638 16.852 7.76% 392.6 6,616
Qualified VI 15.681 16.918 7.89% 953,276.7 16,127,354
Qualified VIII 15.988 16.915 5.80% (1) 30.5 516
Qualified X (1.15) 15.707 16.959 7.97% 15,751.1 267,124
Qualified X (1.25) 15.681 16.918 7.89% 138,893.1 2,349,767
Qualified XI 15.775 17.089 8.33% 68,078.0 1,163,399
Qualified XII (0.35) 16.636 17.242 3.64% (5) 24,632.3 424,708
Qualified XII (0.40) 15.859 17.219 8.58% 208.4 3,589
Qualified XII (0.45) 15.849 17.201 8.53% 1,369.9 23,565
Qualified XII (0.55) 15.823 17.161 8.46% 10,261.9 176,102
Qualified XII (0.65) 15.798 17.120 8.37% 1,924.5 32,948
Qualified XII (0.70) 15.785 17.100 8.33% 11,699.3 200,061
Qualified XII (0.75) 15.772 17.080 8.29% 29,386.7 501,927
Qualified XII (0.80) 15.800 17.104 8.25% 123,352.2 2,109,829
Qualified XII (0.85) 15.787 17.083 8.21% 36,452.7 622,734
Qualified XII (0.90) 17.689 17.063 (3.54%) (7) 994.7 16,973
Qualified XII (0.95) 15.760 17.042 8.13% 30,853.8 525,803
Qualified XII (1.00) 15.747 17.021 8.09% 92,874.0 1,580,815
Qualified XII (1.05) 15.734 17.000 8.05% 6,464.4 109,898
Qualified XII (1.10) 15.721 16.980 8.01% 2,131.8 36,197
Qualified XII (1.15) 15.707 16.959 7.97% 7,498.4 127,165
Qualified XII (1.20) 15.694 16.938 7.93% 3,251.7 55,079
Qualified XII (1.25) 15.681 16.918 7.89% 1,248.9 21,128
Qualified XII (1.30) 15.668 16.897 7.84% 342.0 5,778
Qualified XII (1.35) 15.714 16.877 7.40% (1) 97.2 1,641
Qualified XII (1.40) 15.641 16.856 7.77% 916.5 15,449
Qualified XII (1.50) 15.883 16.815 5.87% (1) 97.7 1,643
Qualified XIII 15.760 17.042 8.13% 8,728.2 148,744
Qualified XV 15.760 17.042 8.13% 5,378.5 91,659
Qualified XVI 15.615 16.815 7.68% 20,525.1 345,132
Qualified XVII 15.681 16.918 7.89% 12,921.5 218,604
Qualified XVIII 15.681 16.918 7.89% 12,465.8 210,893
Qualified XXI 15.775 17.077 8.25% 37,326.6 637,411
Qualified XXII 15.775 17.077 8.25% 11,898.8 203,191
Qualified XXIV 17.346 17.027 (1.84%) (6) 11,756.2 200,169
Qualified XXVII 17.929 17.414 (2.87%) (2) 304,590.9 5,304,269
Qualified XXVIII 17.930 17.398 (2.97%) (2) 86,852.8 1,511,076
--------------------------------------------------------------------------------------------------------------------------
STRATEGIC BOND FUND/VA:
Qualified V 10.021 10.199 1.78% 38.8 395
Qualified VI 10.048 10.239 1.90% 145,096.4 1,485,601
Qualified VIII 10.125 10.237 1.11% (4) 116.4 1,192
Qualified X (1.25) 10.048 10.239 1.90% 23,884.0 244,541
Qualified XI 10.108 10.343 2.32% 2,171.8 22,461
Qualified XII (0.35) 10.102 10.468 3.62% (5) 2,602.3 27,243
Qualified XII (0.45) 10.188 10.444 2.51% 9,570.0 99,947
Qualified XII (0.55) 10.172 10.419 2.43% 122.2 1,273
Qualified XII (0.65) 10.155 10.395 2.36% 3,977.8 41,347
Qualified XII (0.70) 9.988 10.382 3.94% (5) 23.8 247
Qualified XII (0.75) 10.139 10.370 2.28% 3,642.4 37,772
Qualified XII (0.80) 10.125 10.352 2.24% 7,408.5 76,689
Qualified XII (0.85) 10.116 10.339 2.20% 6,915.9 71,503
</TABLE>
S-77
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
STRATEGIC BOND FUND/VA: (continued):
Qualified XII (0.90) $ 10.244 $ 10.326 0.80% (3) 165.5 $ 1,709
Qualified XII (0.95) 10.099 10.314 2.13% 3,178.3 32,781
Qualified XII (1.00) 10.091 10.301 2.08% 17,549.3 180,779
Qualified XII (1.05) 10.082 10.289 2.05% 398.7 4,102
Qualified XII (1.10) 10.074 10.276 2.01% 923.6 9,491
Qualified XII (1.15) 10.065 10.264 1.98% 1,364.0 13,999
Qualified XII (1.20) 10.057 10.251 1.93% 53.6 549
Qualified XII (1.25) 10.048 10.239 1.90% 1,344.4 13,765
Qualified XII (1.30) 10.252 10.226 (0.25%) (7) 143.7 1,469
Qualified XII (1.35) 10.112 10.214 1.01% (2) 9.7 99
Qualified XII (1.40) 10.064 10.201 1.36% (2) 690.1 7,040
Qualified XII (1.50) 10.006 10.177 1.71% 117.5 1,196
Qualified XIII 10.099 10.314 2.13% 166.9 1,721
Qualified XV 10.099 10.314 2.13% 3,471.5 35,804
Qualified XVI 10.006 10.177 1.71% 1,131.1 11,510
Qualified XVIII 10.048 10.239 1.90% 10,894.5 111,545
Qualified XXI 10.108 10.335 2.25% 36.1 373
Qualified XXII 10.108 10.335 2.25% 7,331.8 75,773
Qualified XXIV 10.217 10.305 0.86% (6) 9,535.7 98,262
Qualified XXVII 10.094 10.290 1.94% (2) 117,058.1 1,204,502
Qualified XXVIII 10.095 10.280 1.83% (2) 138,169.7 1,420,408
Annuity contracts in
payment period 23,455
--------------------------------------------------------------------------------------------------------------------------
PORTFOLIO PARTNERS, INC. (PPI):
PPI MFS CAPITAL OPPORTUNITIES PORTFOLIO:
Qualified III 43.112 46.380 7.58% 54,200.4 2,513,822
Qualified V 35.288 37.918 7.45% 7,599.2 288,146
Qualified VI 35.480 38.170 7.58% 2,725,654.1 104,038,432
Qualified VIII 30.498 32.808 7.57% 10,324.8 338,734
Qualified X (1.15) 15.447 16.631 7.66% 13,475.5 224,107
Qualified X (1.25) 15.421 16.590 7.58% 257,372.9 4,269,904
Qualified XI 35.938 38.821 8.02% 233,856.9 9,078,555
Qualified XII (0.35) 16.155 17.149 6.15% (5) 156,224.4 2,679,130
Qualified XII (0.40) 23.231 25.151 8.26% 770.3 19,375
Qualified XII (0.45) 15.809 17.109 8.22% 60,422.1 1,033,750
Qualified XII (0.55) 15.783 17.069 8.15% 73,542.7 1,255,266
Qualified XII (0.65) 15.758 17.028 8.06% 19,030.1 324,051
Qualified XII (0.70) 15.745 17.008 8.02% 87,464.1 1,487,612
Qualified XII (0.75) 15.732 16.988 7.98% 156,781.6 2,663,446
Qualified XII (0.80) 17.793 19.207 7.95% 479,213.6 9,204,122
Qualified XII (0.85) 23.171 25.002 7.90% 426,797.4 10,670,838
Qualified XII (0.90) 17.184 18.536 7.87% 13,097.3 242,767
Qualified XII (0.95) 23.087 24.893 7.82% 148,504.7 3,696,665
Qualified XII (1.00) 23.045 24.838 7.78% 766,518.9 19,038,913
Qualified XII (1.05) 23.003 24.784 7.74% 33,490.5 830,019
Qualified XII (1.10) 22.961 24.729 7.70% 9,859.5 243,821
Qualified XII (1.15) 22.919 24.675 7.66% 63,317.3 1,562,370
Qualified XII (1.20) 22.878 24.621 7.62% 20,409.9 502,516
Qualified XII (1.25) 22.836 24.567 7.58% 5,620.1 138,072
Qualified XII (1.30) 22.794 24.513 7.54% 2,593.4 63,573
Qualified XII (1.35) 24.002 24.460 1.91% (2) 24.5 599
Qualified XII (1.40) 22.712 24.406 7.46% 1,106.9 27,015
Qualified XII (1.50) 22.629 24.299 7.38% 946.8 23,006
Qualified XIII 35.866 38.671 7.82% 36,094.4 1,395,808
Qualified XV 35.806 38.607 7.82% 23,699.2 914,949
Qualified XVI 35.239 37.840 7.38% 40,055.4 1,515,692
Qualified XVII 35.480 38.170 7.58% 11,246.2 429,267
Qualified XVIII 15.421 16.590 7.58% 12,899.7 214,011
</TABLE>
S-78
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
PPI MFS CAPITAL OPPORTUNITIES PORTFOLIO: (continued):
Qualified XXI $ 35.839 $ 38.686 7.94% 35,579.6 $ 1,376,422
Qualified XXII 35.899 38.750 7.94% 34,116.0 1,322,002
Qualified XXIV 24.748 24.846 0.40% (6) 36,092.7 896,769
Qualified XXVII 45.887 46.424 1.17% (2) 2,251,632.8 104,528,824
Qualified XXVIII 45.888 46.380 1.07% (2) 521,019.1 24,164,950
Annuity contracts in
payment period 367,597
--------------------------------------------------------------------------------------------------------------------------
PPI MFS EMERGING EQUITIES PORTFOLIO:
Qualified III 28.710 25.838 (10.00%) 97,540.8 2,520,275
Qualified V 28.327 25.463 (10.11%) 6,220.9 158,402
Qualified VI 28.481 25.632 (10.00%) 9,546,127.2 244,689,500
Qualified VIII 29.833 26.847 (10.01%) 12,227.5 328,276
Qualified X (1.15) 28.661 25.813 (9.94%) 35,967.2 928,434
Qualified X (1.25) 28.481 25.632 (10.00%) 1,266,387.9 32,460,476
Qualified XI 28.849 26.070 (9.63%) 636,669.3 16,597,706
Qualified XII (0.35) 15.512 14.997 (3.32%) (5) 688,793.7 10,329,614
Qualified XII (0.40) 19.199 17.389 (9.43%) 5,765.6 100,257
Qualified XII (0.45) 16.525 14.961 (9.46%) 181,179.8 2,710,686
Qualified XII (0.55) 16.499 14.926 (9.53%) 103,194.2 1,540,283
Qualified XII (0.65) 16.472 14.891 (9.60%) 114,972.9 1,712,054
Qualified XII (0.70) 16.459 14.873 (9.64%) 121,455.4 1,806,451
Qualified XII (0.75) 16.446 14.856 (9.67%) 484,275.1 7,194,326
Qualified XII (0.80) 17.731 16.011 (9.70%) 3,213,935.7 51,457,990
Qualified XII (0.85) 19.150 17.286 (9.73%) 822,804.8 14,222,735
Qualified XII (0.90) 17.139 15.465 (9.77%) 26,232.4 405,690
Qualified XII (0.95) 19.080 17.210 (9.80%) 466,787.9 8,033,375
Qualified XII (1.00) 19.045 17.172 (9.83%) 2,493,782.5 42,823,760
Qualified XII (1.05) 19.011 17.135 (9.87%) 194,861.2 3,338,863
Qualified XII (1.10) 18.976 17.097 (9.90%) 47,996.7 820,602
Qualified XII (1.15) 18.942 17.060 (9.94%) 135,002.8 2,303,092
Qualified XII (1.20) 18.907 17.022 (9.97%) 71,561.8 1,218,134
Qualified XII (1.25) 18.873 16.985 (10.00%) 29,691.6 504,309
Qualified XII (1.30) 18.838 16.948 (10.03%) 13,023.3 220,714
Qualified XII (1.35) 17.600 16.910 (3.92%) (1) 167.0 2,824
Qualified XII (1.40) 18.770 16.873 (10.11%) 3,448.6 58,189
Qualified XII (1.50) 18.702 16.800 (10.17%) 3,593.3 60,366
Qualified XIII 28.791 25.969 (9.80%) 69,038.0 1,792,840
Qualified XV 28.743 25.926 (9.80%) 73,809.6 1,913,565
Qualified XVI 28.288 25.411 (10.17%) 142,256.4 3,614,818
Qualified XVII 28.481 25.632 (10.00%) 14,624.5 374,861
Qualified XVIII 28.481 25.632 (10.00%) 39,422.3 1,010,487
Qualified XXI 28.769 25.979 (9.70%) 202,572.0 5,262,567
Qualified XXII 28.817 26.022 (9.70%) 203,016.6 5,282,905
Qualified XXIV 19.145 17.178 (10.27%) (6) 214,306.8 3,681,327
Qualified XXVII 28.118 25.862 (8.02%) (2) 2,383,559.0 61,644,457
Qualified XXVIII 28.119 25.838 (8.11%) (2) 631,098.3 16,306,422
Annuity contracts in
payment period 139,585
--------------------------------------------------------------------------------------------------------------------------
PPI MFS RESEARCH GROWTH PORTFOLIO:
Qualified I 13.469 14.555 8.06% 2,474.7 36,018
Qualified III 17.796 19.222 8.01% 148,530.6 2,855,114
Qualified V 20.293 21.894 7.89% 9,958.4 218,026
Qualified VI 20.527 22.172 8.01% 6,570,519.8 145,684,083
Qualified VII 17.322 18.718 8.06% 135,316.1 2,532,900
Qualified VIII 17.312 18.698 8.01% 13,366.3 249,926
Qualified IX 17.102 18.507 8.22% 2,854.8 52,833
Qualified X (1.15) 20.653 22.325 8.10% 10,200.3 227,724
Qualified X (1.25) 20.527 22.172 8.01% 884,991.9 19,622,379
Qualified XI 20.792 22.551 8.46% 325,390.2 7,337,762
</TABLE>
S-79
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
PPI MFS RESEARCH GROWTH PORTFOLIO: (continued):
Qualified XII (0.35) $ 13.213 $ 14.226 7.67% (5) 392,797.3 $ 5,587,771
Qualified XII (0.40) 13.146 14.289 8.69% 7,694.8 109,953
Qualified XII (0.45) 13.061 14.192 8.66% 60,327.4 856,171
Qualified XII (0.55) 13.040 14.159 8.58% 50,595.0 716,356
Qualified XII (0.65) 13.019 14.125 8.50% 95,163.5 1,344,211
Qualified XII (0.70) 13.008 14.109 8.46% 59,936.5 845,622
Qualified XII (0.75) 12.998 14.092 8.42% 150,462.7 2,120,325
Qualified XII (0.80) 14.375 15.579 8.38% 563,518.1 8,778,941
Qualified XII (0.85) 13.112 14.205 8.34% 625,014.1 8,878,110
Qualified XII (0.90) 13.982 15.142 8.30% 10,948.3 165,781
Qualified XII (0.95) 13.064 14.142 8.25% 299,227.2 4,231,790
Qualified XII (1.00) 13.040 14.111 8.21% 724,509.0 10,223,878
Qualified XII (1.05) 13.016 14.080 8.17% 63,253.9 890,644
Qualified XII (1.10) 12.993 14.050 8.14% 28,324.4 397,948
Qualified XII (1.15) 12.969 14.019 8.10% 87,346.7 1,224,500
Qualified XII (1.20) 12.945 13.988 8.06% 33,940.3 474,759
Qualified XII (1.25) 12.922 13.957 8.01% 3,407.7 47,563
Qualified XII (1.30) 12.898 13.927 7.98% 5,179.6 72,135
Qualified XII (1.35) 12.502 13.896 11.15% (2) 42.0 584
Qualified XII (1.40) 12.851 13.866 7.90% 2,852.6 39,554
Qualified XII (1.50) 12.805 13.805 7.81% 2,238.3 30,900
Qualified XIII 20.750 22.464 8.26% 44,340.9 996,056
Qualified XV 20.716 22.426 8.25% 62,951.9 1,411,771
Qualified XVI 20.388 21.981 7.81% 131,971.3 2,900,802
Qualified XVII 20.527 22.172 8.01% 95,002.5 2,106,431
Qualified XVIII 20.527 22.172 8.01% 45,728.5 1,013,910
Qualified XIX 13.469 14.555 8.06% 8,885.4 129,325
Qualified XX 17.796 19.222 8.01% 13,712.9 263,595
Qualified XXI 20.735 22.472 8.38% 78,080.9 1,754,639
Qualified XXII 20.770 22.510 8.38% 96,990.7 2,183,214
Qualified XXIV 13.783 14.116 2.42% (6) 131,260.0 1,852,875
Qualified XXVII 19.214 21.045 9.53% (2) 991,474.0 20,865,813
Qualified XXVIII 19.214 21.026 9.43% (2) 133,649.5 2,810,060
--------------------------------------------------------------------------------------------------------------------------
PPI SCUDDER INTERNATIONAL GROWTH PORTFOLIO:
Qualified III 32.585 26.534 (18.57%) 36,818.4 976,939
Qualified V 30.781 25.035 (18.67%) 3,178.3 79,568
Qualified VI 31.255 25.451 (18.57%) 3,354,861.5 85,384,241
Qualified VIII 26.330 21.439 (18.58%) 22,409.9 480,452
Qualified X (1.15) 31.447 25.626 (18.51%) 35,573.0 911,596
Qualified X (1.25) 31.255 25.451 (18.57%) 415,603.6 10,577,485
Qualified XI 31.658 25.885 (18.24%) 257,019.8 6,652,939
Qualified XII (0.35) 13.496 12.688 (5.99%) (5) 411,275.1 5,218,274
Qualified XII (0.40) 21.461 17.586 (18.06%) 2,435.1 42,825
Qualified XII (0.45) 15.452 12.658 (18.08%) 43,357.8 548,828
Qualified XII (0.55) 15.427 12.628 (18.14%) 58,904.5 743,865
Qualified XII (0.65) 15.403 12.599 (18.20%) 25,162.5 317,012
Qualified XII (0.70) 15.390 12.584 (18.23%) 51,126.0 643,355
Qualified XII (0.75) 15.378 12.569 (18.27%) 170,816.2 2,146,973
Qualified XII (0.80) 17.351 14.176 (18.30%) 826,207.2 11,712,293
Qualified XII (0.85) 21.405 17.482 (18.33%) 459,714.0 8,036,821
Qualified XII (0.90) 17.314 14.136 (18.36%) 18,555.5 262,296
Qualified XII (0.95) 21.327 17.406 (18.39%) 169,547.5 2,951,088
Qualified XII (1.00) 21.289 17.368 (18.42%) 864,200.8 15,009,100
Qualified XII (1.05) 21.250 17.330 (18.45%) 48,140.7 834,255
Qualified XII (1.10) 21.211 17.292 (18.48%) 15,201.2 262,853
Qualified XII (1.15) 21.173 17.254 (18.51%) 53,973.8 931,247
Qualified XII (1.20) 21.134 17.216 (18.54%) 18,468.2 317,947
</TABLE>
S-80
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------
Value
Per Unit Increase (Decrease) Units
-------- in Value of Outstanding Reserves
Beginning End of Accumulation at End at End
of Period Period Unit of Period of Period
<S> <C> <C> <C> <C> <C> <C>
--------------------------------------------------------------------------------------------------------------------------
PPI SCUDDER INTERNATIONAL GROWTH PORTFOLIO: (continued):
Qualified XII (1.25) $ 21.096 $ 17.178 (18.57%) 6,054.2 $ 104,001
Qualified XII (1.30) 21.057 17.141 (18.60%) 929.5 15,933
Qualified XII (1.40) 20.981 17.066 (18.66%) 1,089.7 18,597
Qualified XII (1.50) 20.905 16.991 (18.72%) 1,275.7 21,676
Qualified XIII 31.595 25.785 (18.39%) 28,445.4 733,464
Qualified XV 31.542 25.742 (18.39%) 35,848.9 922,827
Qualified XVI 31.043 25.231 (18.72%) 53,354.0 1,346,162
Qualified XVII 31.255 25.451 (18.57%) 6,154.4 156,636
Qualified XVIII 31.255 25.451 (18.57%) 12,886.5 327,974
Qualified XXI 31.571 25.795 (18.30%) 73,729.9 1,901,846
Qualified XXII 31.624 25.838 (18.30%) 49,477.9 1,278,393
Qualified XXIV 19.321 17.373 (10.08%) (6) 39,860.1 692,502
Qualified XXVII 33.036 26.559 (19.61%) (2) 2,385,156.0 63,347,037
Qualified XXVIII 33.036 26.534 (19.68%) (2) 263,077.8 6,980,508
Annuity contracts in
payment period 10,301
--------------------------------------------------------------------------------------------------------------------------
PPI T. ROWE PRICE GROWTH EQUITY PORTFOLIO:
Qualified III 25.283 27.318 8.05% 158.5 4,331
Qualified V 22.227 23.988 7.92% 1,808.5 43,382
Qualified VI 21.922 23.686 8.05% 5,478,060.0 129,754,438
Qualified VIII 22.377 24.177 8.04% 4,466.2 107,977
Qualified X (1.15) 24.669 26.675 8.13% 31,576.7 842,295
Qualified X (1.25) 24.557 26.534 8.05% 632,747.0 16,789,205
Qualified XI 22.205 24.090 8.49% 317,321.6 7,644,327
Qualified XII (0.35) 13.599 14.669 7.87% (5) 252,546.5 3,704,700
Qualified XII (0.40) 20.546 22.340 8.73% 1,382.8 30,893
Qualified XII (0.45) 13.464 14.635 8.70% 98,476.3 1,441,180
Qualified XII (0.55) 13.443 14.600 8.61% 31,218.6 455,801
Qualified XII (0.65) 13.421 14.566 8.53% 14,235.5 207,353
Qualified XII (0.70) 13.410 14.549 8.49% 74,980.6 1,090,874
Qualified XII (0.75) 13.399 14.532 8.46% 266,041.3 3,866,016
Qualified XII (0.80) 14.748 15.988 8.41% 892,418.6 14,267,891
Qualified XII (0.85) 20.493 22.208 8.37% 152,179.9 3,379,589
Qualified XII (0.90) 14.296 15.486 8.32% 8,002.3 123,927
Qualified XII (0.95) 20.418 22.111 8.29% 250,196.6 5,531,996
Qualified XII (1.00) 20.381 22.062 8.25% 525,478.6 11,593,239
Qualified XII (1.05) 20.344 22.014 8.21% 76,464.1 1,683,272
Qualified XII (1.10) 20.307 21.966 8.17% 25,984.6 570,770
Qualified XII (1.15) 20.270 21.918 8.13% 56,927.7 1,247,716
Qualified XII (1.20) 20.233 21.869 8.09% 21,317.9 466,212
Qualified XII (1.25) 20.196 21.822 8.05% 1,952.3 42,603
Qualified XII (1.30) 20.160 21.774 8.01% 4,943.5 107,639
Qualified XII (1.35) 19.539 21.726 11.19% (2) 76.4 1,661
Qualified XII (1.40) 20.086 21.679 7.93% 2,007.1 43,511
Qualified XII (1.50) 20.013 21.584 7.85% 1,595.0 34,426
Qualified XIII 22.160 23.997 8.29% 30,009.5 720,141
Qualified XV 22.123 23.957 8.29% 20,083.2 481,137
Qualified XVI 21.773 23.481 7.84% 93,751.8 2,201,418
Qualified XVII 21.922 23.686 8.05% 20,547.5 486,693
Qualified XVIII 24.557 26.534 8.05% 20,336.0 539,592
Qualified XXI 22.144 24.006 8.41% 55,136.0 1,323,608
Qualified XXII 22.181 24.046 8.41% 53,033.2 1,275,245
Qualified XXIV 21.893 22.069 0.80% (6) 86,572.9 1,910,618
Qualified XXVII 25.002 27.344 9.37% (2) 1,301,953.4 35,600,017
Qualified XXVIII 25.002 27.318 9.26% (2) 277,528.4 7,581,523
Annuity contracts in
payment period 64,376
--------------------------------------------------------------------------------------------------------------------------
TOTAL $15,375,781,363
==========================================================================================================================
</TABLE>
S-81
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
QUALIFIED I Individual contracts issued prior to May 1, 1975 in
connection with Qualified Corporate Retirement Plans
established pursuant to Section 401 of the Internal
Revenue Code (Code); Tax-Deferred Annuity Plans
established by the public school systems and tax-exempt
organizations pursuant to Section 403(b) of the Code,
and certain Individual Retirement Annuity Plans
established by or on behalf of individuals pursuant to
section 408(b) of the Code; Individual contracts issued
prior to November 1, 1975 in connection with H.R. 10
Plans established by persons entitled to the benefits of
the Self-Employed Individuals Tax Retirement Act of
1962, as amended; allocated group contracts issued prior
to May 1, 1975 in connection with Qualified Corporate
Retirement Plans; and group contracts issued prior to
October 1, 1978 in connection with Tax-Deferred Annuity
Plans.
QUALIFIED III Individual contracts issued in connection with
Tax-Deferred Annuity Plans and Individual Retirement
Annuity Plans since May 1, 1975, H.R. 10 Plans since
November 1, 1975; group contracts issued since October
1, 1978 in connection with Tax-Deferred Annuity Plans
and group contracts issued since May 1, 1979 in
connection with Deferred Compensation Plans adopted by
state and local governments and H.R. 10 Plans.
QUALIFIED V Certain group AetnaPlus contracts issued since
August 28, 1992 in connection with Optional Retirement
Plans established pursuant to Section 403(b) or
401(a) of the Internal Revenue Code.
QUALIFIED VI Certain group AetnaPlus contracts issued in connection
with Tax-Deferred Annuity Plans, Retirement Plus Plans
and Deferred Compensation Plans since August 28, 1992.
QUALIFIED VII Certain existing contracts that were converted to ACES,
an administrative system (previously valued under
Qualified I).
QUALIFIED VIII Group AetnaPlus contracts issued in connection with
Tax-Deferred Annuity Plans and Deferred Compensation
Plans adopted by state and local governments since
June 30, 1993.
QUALIFIED IX Certain large group contracts (Jumbo) that were
converted to ACES, an administrative system (previously
valued under Qualified VI).
QUALIFIED X Individual Retirement Annuity and Simplified Employee
Pension Plans issued or converted to ACES, an
administrative system.
QUALIFIED XI Certain large group contracts issued in connection with
Deferred Compensation Plans adopted by state and local
governments since January 1996.
QUALIFIED XII Group Retirement Plus and Voluntary TDA contracts issued
since 1996 in connection with plans established pursuant
to Section 403(b) or 401(a) of the Internal Revenue
Code, shown separately by applicable daily charge; and
contracts issued since October 1, 1996 in connection
with Optional Retirement Plans established pursuant to
Section 403(b) or 403(a) of the Internal Revenue Code.
QUALIFIED XIII Certain existing contracts issued in connection with
Deferred Compensation Plans issued through product
exchange on May 25, 1996 (previously valued under
Qualified VI).
QUALIFIED XIV Certain existing contracts issued in connection with
Deferred Compensation Plans issued through product
exchange on November 1, 1996 (previously valued under
Qualified III).
QUALIFIED XV Certain existing contracts issued in connection with
Deferred Compensation Plans issued through product
exchange on December 16, 1996 (previously valued under
Qualified VI), and new contracts issued after that date
in connection with certain Deferred Compensation Plans.
QUALIFIED XVI Group AetnaPlus contracts assessing an administrative
expense charge effective April 7, 1997 issued in
connection with Tax-Deferred Annuity Plans, Retirement
Plus Plans and Deferred Compensation Plans.
QUALIFIED XVII Group AetnaPlus contracts containing contractual limits
on fees issued in connection with Tax-Deferred Annuity
Plans and Deferred Compensation Plans, which resulted in
reduced daily charges for certain funding options
effective May 29, 1997.
QUALIFIED XVIII Individual Retirement Annuity and Simplified Employee
Pension Plan contracts containing contractual limits on
fees, which resulted in reduced daily charges for
certain funding options effective May 29, 1997.
QUALIFIED XIX Group Corporate 401 contracts containing contractual
limits on fees, which resulted in reduced daily charges
for certain funding options effective May 29, 1997.
QUALIFIED XX Group HR 10 contracts containing contractual limits on
fees, which resulted in reduced daily charges for
certain funding options effective May 29, 1997.
QUALIFIED XXI Certain existing contracts issued in connection with
Deferred Compensation Plans having contract
modifications effective May 20, 1999.
QUALIFIED XXII Certain existing contracts issued in connection with
Deferred Compensation Plans having contract
modifications effective May 20, 1999.
QUALIFIED XXIV Group contract issued in connection with Optional
Retirement Plans having contract modifications effective
July 2000 to lower mortality and expense fee.
QUALIFIED XXVII Group contract issued in connection with Tax Deferred
Annuity Plans having contract modifications effective
February 2000 to lower mortality and expense fee.
QUALIFIED XXVIII Group contract issued in connection with Optional
Retirement Plans having contract modifications effective
February 2000 to lower mortality and expense fee.
S-82
<PAGE>
VARIABLE ANNUITY ACCOUNT C
CONDENSED FINANCIAL INFORMATION - Period Ended September 30, 2000 (Unaudited and
continued):
NOTES TO CONDENSED FINANCIAL INFORMATION:
(1) - Reflects less than a full year of performance activity. Funds were
first received in this option during January 2000.
(2) - Reflects less than a full year of performance activity. Funds were
first received in this option during February 2000.
(3) - Reflects less than a full year of performance activity. Funds were
first received in this option during March 2000.
(4) - Reflects less than a full year of performance activity. Funds were
first received in this option during April 2000.
(5) - Reflects less than a full year of performance activity. Funds were
first received in this option during May 2000.
(6) - Reflects less than a full year of performance activity. Funds were
first received in this option during June 2000.
(7) - Reflects less than a full year of performance activity. Funds were
first received in this option during July 2000.
(8) - Reflects less than a full year of performance activity. Funds were
first received in this option during August 2000.
(9) - Reflects less than a full year of performance activity. Funds were
first received in this option during September 2000.
See Notes to Financial Statements
S-83
<PAGE>
VARIABLE ANNUITY ACCOUNT C
NOTES TO FINANCIAL STATEMENTS - September 30, 2000 (Unaudited)
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Variable Annuity Account C (the "Account") is a separate account established
by Aetna Life Insurance and Annuity Company (the "Company") and is registered
under the Investment Company Act of 1940 as a unit investment trust. The
Account is sold exclusively for use with variable annuity contracts that are
qualified under the Internal Revenue Code of 1986, as amended.
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions
that affect amounts reported therein. Actual results could differ from these
estimates.
a. VALUATION OF INVESTMENTS
Investments in the following Funds are stated at the closing net asset value
per share as determined by each Fund on September 30, 2000:
<TABLE>
<S> <C>
Aetna Ascent VP Fidelity Investments Variable Insurance Products Fund:
Aetna Balanced VP, Inc. - Equity-Income Portfolio
Aetna Bond VP - Growth Portfolio
Aetna Crossroads VP - High Income Portfolio
Aetna GET Fund, Series C - Overseas Portfolio
Aetna GET Fund, Series D Fidelity Investments Variable Insurance Products Fund II:
Aetna GET Fund, Series E - Asset Manager Portfolio
Aetna GET Fund, Series G - Contrafund Portfolio
Aetna GET Fund, Series H - Index 500 Portfolio
Aetna GET Fund, Series I Janus Aspen Series:
Aetna GET Fund, Series J - Aggressive Growth Portfolio
Aetna GET Fund, Series K - Balanced Portfolio
Aetna Growth and Income VP - Flexible Income Portfolio
Aetna Growth VP - Growth Portfolio
Aetna Index Plus Large Cap VP - Worldwide Growth Portfolio
Aetna Index Plus Mid Cap VP Lexington Emerging Markets Fund
Aetna Index Plus Small Cap VP Lexington Natural Resources Trust Fund
Aetna International VP MFS Funds:
Aetna Legacy VP - Total Return Series
Aetna Money Market VP Oppenheimer Funds:
Aetna Technology VP - Global Securities Fund/VA
Aetna Value Opportunity VP - Strategic Bond Fund/VA
AIM V.I. Funds: Portfolio Partners, Inc. (PPI):
- Capital Appreciation Fund - PPI MFS Capital Opportunities Portfolio
- Growth and Income Fund - PPI MFS Emerging Equities Portfolio
- Growth Fund - PPI MFS Research Growth Portfolio
- Value Fund - PPI Scudder International Growth Portfolio
Calvert Social Balanced Portfolio - PPI T. Rowe Price Growth Equity Portfolio
</TABLE>
b. OTHER
Investment transactions are accounted for on a trade date basis and dividend
income is recorded on the ex-dividend date. The cost of investments sold is
determined by specific identification.
c. FEDERAL INCOME TAXES
The operations of the Account form a part of, and are taxed with, the total
operations of the Company which is taxed as a life insurance company under
the Internal Revenue Code of 1986, as amended.
S-84
<PAGE>
VARIABLE ANNUITY ACCOUNT C
NOTES TO FINANCIAL STATEMENTS - September 30, 2000 (Unaudited and continued):
d. ANNUITY RESERVES
Annuity reserves held in the Account are computed for currently payable
contracts according to the Progressive Annuity, a49, 1971 Individual Annuity
Mortality, 1971 Group Annuity Mortality, 83a, and 1983 Group Annuity
Mortality tables using various assumed interest rates not to exceed seven
percent. Mortality experience is monitored by the Company. Charges to annuity
reserves for mortality experience are reimbursed to the Company if the
reserves required are less than originally estimated. If additional reserves
are required, the Company reimburses the Account.
2. VALUATION PERIOD DEDUCTIONS
Deductions by the Account for mortality and expense risk charges are made in
accordance with the terms of the contracts and are paid to the Company.
3. DIVIDEND INCOME
On an annual basis, the Funds distribute substantially all of their taxable
income and realized capital gains to their shareholders. Distributions to the
Account are automatically reinvested in shares of the Funds. The Account's
proportionate share of each Fund's undistributed net investment income
(distributions in excess of net investment income) and accumulated net
realized gain (loss) on investments is included in net unrealized gain (loss)
in the Statement of Operations.
4. PURCHASES AND SALES OF INVESTMENTS
The cost of purchases and proceeds from sales of investments other than
short-term investments for the period ended September 30, 2000 aggregated
$4,015,565,950 and $3,040,080,663.
S-85
<PAGE>
VARIABLE ANNUITY ACCOUNT C
NOTES TO FINANCIAL STATEMENTS - September 30, 2000 (Unaudited and continued):
5. SUPPLEMENTAL INFORMATION TO STATEMENT OF OPERATIONS
<TABLE>
Valuation Proceeds Cost of
PERIOD ENDED Period from Investments
SEPTEMBER 30, 2000 Dividends Deductions Sales Sold
<S> <C> <C> <C> <C>
AETNA ASCENT VP:
Annuity contracts in
accumulation $932,980 ($680,313) $12,563,647 $10,633,944
AETNA BALANCED VP:
Annuity contracts in
accumulation 30,894,992 (8,259,549) 115,384,891 97,038,671
AETNA BOND VP:
Annuity contracts in
accumulation 3,750,270 (2,583,967) 51,012,297 53,886,182
AETNA CROSSROADS VP:
Annuity contracts in
accumulation 1,173,799 (555,103) 9,373,433 9,246,943
AETNA GET FUND,
SERIES B:
Annuity contracts in
accumulation 0 (2) 0 0
AETNA GET FUND,
SERIES C:
Annuity contracts in
accumulation 14,345,621 (1,639,597) 19,656,653 16,171,252
AETNA GET FUND,
SERIES D:
Annuity contracts in
accumulation 5,613,276 (3,953,192) 112,684,242 109,638,511
AETNA GET FUND,
SERIES E:
Annuity contracts in
accumulation 431,840 (1,545,449) 16,575,634 15,677,104
AETNA GET FUND,
SERIES G:
Annuity contracts in
accumulation 89,075 (447,803) 5,631,272 5,561,342
AETNA GET FUND,
SERIES H:
Annuity contracts in
accumulation 915 (272,689) 2,565,353 2,420,216
AETNA GET FUND,
SERIES I:
Annuity contracts in
accumulation 0 (9,548) 69,839 67,566
AETNA GET FUND,
SERIES J:
Annuity contracts in
accumulation 0 (696) 910 906
AETNA GET FUND,
SERIES K:
Annuity contracts in
accumulation 0 (14) 6 6
AETNA GROWTH AND INCOME
VP:
Annuity contracts in
accumulation 244,519,905 (49,396,858) 718,717,085 720,224,449
AETNA GROWTH VP:
Annuity contracts in
accumulation 3,038,381 (1,438,673) 8,405,117 5,616,781
AETNA HIGH YIELD VP:
Annuity contracts in
accumulation 4,178 (17,017) 4,683,659 4,877,293
AETNA INDEX PLUS BOND VP:
Annuity contracts in
accumulation 505 (6,940) 1,302,832 1,317,450
AETNA INDEX PLUS LARGE
CAP VP:
Annuity contracts in
accumulation 21,991,702 (4,135,485) 39,295,081 22,616,199
AETNA INDEX PLUS MID CAP
VP:
Annuity contracts in
accumulation 231,204 (129,972) 7,366,227 6,385,401
AETNA INDEX PLUS SMALL
CAP VP:
Annuity contracts in
accumulation 0 (78,543) 7,383,228 6,654,277
---------------------------------------------------------------------------------
</TABLE>
S-86
<PAGE>
<TABLE>
Net Unrealized Net Net
Net Gain (Loss) Change in Increase (Decrease)
Realized ---------------------------- Unrealized in Net Assets
PERIOD ENDED Gain (Loss) Beginning End Gain (Loss) Resulting from
SEPTEMBER 30, 2000 on Investments of Period of Period on Investments Operations
<S> <C> <C> <C> <C> <C>
AETNA ASCENT VP:
Annuity contracts in
accumulation $1,929,703 $4,030,133 $4,210,327 $180,194 $2,362,564
AETNA BALANCED VP:
Annuity contracts in
accumulation 18,346,220 45,044,344 28,009,950 (17,034,394) 23,947,269
AETNA BOND VP:
Annuity contracts in
accumulation (2,873,885) (19,754,875) (5,783,946) 13,970,929 12,263,347
AETNA CROSSROADS VP:
Annuity contracts in
accumulation 126,490 1,130,783 1,882,961 752,178 1,497,364
AETNA GET FUND,
SERIES B:
Annuity contracts in
accumulation 0 0 0 0 (2)
AETNA GET FUND,
SERIES C:
Annuity contracts in
accumulation 3,485,401 19,237,706 353,838 (18,883,868) (2,692,443)
AETNA GET FUND,
SERIES D:
Annuity contracts in
accumulation 3,045,731 25,690,783 7,557,038 (18,133,745) (13,427,930)
AETNA GET FUND,
SERIES E:
Annuity contracts in
accumulation 898,530 10,381,800 6,749,626 (3,632,174) (3,847,253)
AETNA GET FUND,
SERIES G:
Annuity contracts in
accumulation 69,930 1,305,419 422,032 (883,387) (1,172,185)
AETNA GET FUND,
SERIES H:
Annuity contracts in
accumulation 145,137 2,236 1,086,352 1,084,116 957,479
AETNA GET FUND,
SERIES I:
Annuity contracts in
accumulation 2,273 0 9,982 9,982 2,707
AETNA GET FUND,
SERIES J:
Annuity contracts in
accumulation 4 0 (6,803) (6,803) (7,495)
AETNA GET FUND,
SERIES K:
Annuity contracts in
accumulation 0 0 84 84 70
AETNA GROWTH AND INCOME
VP:
Annuity contracts in
accumulation (1,507,364) (281,156,139) (631,565,665) (350,409,526) (156,793,843)
AETNA GROWTH VP:
Annuity contracts in
accumulation 2,788,336 31,404,391 34,681,500 3,277,109 7,665,153
AETNA HIGH YIELD VP:
Annuity contracts in
accumulation (193,634) (112,582) 0 112,582 (93,891)
AETNA INDEX PLUS BOND VP:
Annuity contracts in
accumulation (14,618) (64,241) 0 64,241 43,188
AETNA INDEX PLUS LARGE
CAP VP:
Annuity contracts in
accumulation 16,678,882 94,088,323 50,188,413 (43,899,910) (9,364,811)
AETNA INDEX PLUS MID CAP
VP:
Annuity contracts in
accumulation 980,826 147,754 2,453,448 2,305,694 3,387,752
AETNA INDEX PLUS SMALL
CAP VP:
Annuity contracts in
accumulation 728,951 672,037 481,901 (190,136) 460,272
------------------------------------------------------------------------------------------------------------
</TABLE>
S-87
<PAGE>
VARIABLE ANNUITY ACCOUNT C
NOTES TO FINANCIAL STATEMENTS - September 30, 2000 (Unaudited and continued):
5. SUPPLEMENTAL INFORMATION TO STATEMENTS OF OPERATIONS (continued):
<TABLE>
Valuation Proceeds Cost of
PERIOD ENDED SEPTEMBER Period from Investments
30, 2000 Dividends Deductions Sales Sold
<S> <C> <C> <C> <C>
AETNA INTERNATIONAL VP:
Annuity contracts in
accumulation $466,592 ($106,407) $14,166,941 $13,007,370
AETNA LEGACY VP:
Annuity contracts in
accumulation 788,237 (343,554) 8,344,431 8,095,806
AETNA MONEY MARKET VP:
Annuity contracts in
accumulation 14,088,879 (2,468,385) 769,733,594 769,168,287
AETNA REAL ESTATE
SECURITIES VP:
Annuity contracts in
accumulation 1,796 (15,710) 5,779,899 5,396,448
AETNA SMALL COMPANY VP:
Annuity contracts in
accumulation 5,715,158 (757,244) 41,744,141 28,105,676
AETNA TECHNOLOGY VP:
Annuity contracts in
accumulation 0 (49,765) 1,213,282 1,130,966
AETNA VALUE OPPORTUNITY
VP:
Annuity contracts in
accumulation 5,685,856 (296,396) 13,111,924 10,589,659
AIM V.I. FUNDS:
CAPITAL APPRECIATION
FUND:
Annuity contracts in
accumulation 0 (81,811) 2,552,902 2,230,782
Annuity contracts in
payment period 0 (1,343) 0 0
GROWTH AND INCOME FUND:
Annuity contracts in
accumulation 0 (224,600) 1,874,950 1,501,446
Annuity contracts in
payment period 0 (559) 0 0
GROWTH FUND:
Annuity contracts in
accumulation 0 (112,630) 823,653 673,471
VALUE FUND:
Annuity contracts in
accumulation 0 (123,055) 1,554,788 1,348,430
Annuity contracts in
payment period 0 (2,022) 0 0
ALLIANCE FUNDS:
GROWTH AND INCOME
PORTFOLIO:
Annuity contracts in
accumulation 0 (5,718) 0 0
AMERICAN CENTURY INCOME
AND GROWTH FUND:
Annuity contracts in
accumulation 0 (15,327) 0 0
CALVERT SOCIAL BALANCED
PORTFOLIO:
Annuity contracts in
accumulation 0 (555,968) 8,811,261 6,098,140
CHAPMAN DEM EQUITY FUND:
Annuity contracts in
accumulation 0 (94) 0 0
FIDELITY INVESTMENTS
VARIABLE INSURANCE
PRODUCTS FUNDS:
EQUITY-INCOME
PORTFOLIO -- INITIAL
CLASS:
Annuity contracts in
accumulation 15,968,399 (1,576,099) 44,982,170 37,325,096
EQUITY-INCOME
PORTFOLIO -- SERVICE
CLASS 2:
Annuity contracts in
accumulation 0 (13,869) 0 0
GROWTH PORTFOLIO --
INITIAL CLASS:
Annuity contracts in
accumulation 49,684,906 (4,089,403) 13,254,584 7,406,417
GROWTH PORTFOLIO --
SERVICE CLASS 2:
Annuity contracts in
accumulation 0 (3,537) 0 0
------------------------------------------------------------------------------
</TABLE>
S-88
<PAGE>
<TABLE>
Net Unrealized Net Net
Net Gain (Loss) Change in Increase (Decrease)
Realized ---------------------------- Unrealized in Net Assets
PERIOD ENDED SEPTEMBER Gain (Loss) Beginning End Gain (Loss) Resulting from
30, 2000 on Investments of Period of Period on Investments Operations
<S> <C> <C> <C> <C> <C>
AETNA INTERNATIONAL VP:
Annuity contracts in
accumulation $1,159,571 $1,272,468 ($2,013,643) ($3,286,111) ($1,766,355)
AETNA LEGACY VP:
Annuity contracts in
accumulation 248,625 (83,476) 924,951 1,008,427 1,701,735
AETNA MONEY MARKET VP:
Annuity contracts in
accumulation 565,307 4,054,787 3,181,218 (873,569) 11,312,232
AETNA REAL ESTATE
SECURITIES VP:
Annuity contracts in
accumulation 383,451 (72,859) 0 72,859 442,396
AETNA SMALL COMPANY VP:
Annuity contracts in
accumulation 13,638,465 13,100,682 2,315,089 (10,785,593) 7,810,786
AETNA TECHNOLOGY VP:
Annuity contracts in
accumulation 82,316 0 (2,188,921) (2,188,921) (2,156,370)
AETNA VALUE OPPORTUNITY
VP:
Annuity contracts in
accumulation 2,522,265 5,773,811 1,037,551 (4,736,260) 3,175,465
AIM V.I. FUNDS:
CAPITAL APPRECIATION
FUND:
Annuity contracts in
accumulation 322,120 166,754 829,541 662,787 903,096
Annuity contracts in
payment period 0 0 0 0 (1,343)
GROWTH AND INCOME FUND:
Annuity contracts in
accumulation 373,504 1,220,016 1,117,124 (102,892) 46,012
Annuity contracts in
payment period 0 0 0 0 (559)
GROWTH FUND:
Annuity contracts in
accumulation 150,182 497,930 (137,031) (634,961) (597,409)
VALUE FUND:
Annuity contracts in
accumulation 206,358 835,034 (902,099) (1,737,133) (1,653,830)
Annuity contracts in
payment period 0 0 0 0 (2,022)
ALLIANCE FUNDS:
GROWTH AND INCOME
PORTFOLIO:
Annuity contracts in
accumulation 0 0 0 0 (5,718)
AMERICAN CENTURY INCOME
AND GROWTH FUND:
Annuity contracts in
accumulation 0 0 0 0 (15,327)
CALVERT SOCIAL BALANCED
PORTFOLIO:
Annuity contracts in
accumulation 2,713,121 7,801,335 8,336,370 535,035 2,692,188
CHAPMAN DEM EQUITY FUND:
Annuity contracts in
accumulation 0 0 0 0 (94)
FIDELITY INVESTMENTS
VARIABLE INSURANCE
PRODUCTS FUNDS:
EQUITY-INCOME
PORTFOLIO -- INITIAL
CLASS:
Annuity contracts in
accumulation 7,657,074 29,981,910 12,499,140 (17,482,770) 4,566,604
EQUITY-INCOME
PORTFOLIO -- SERVICE
CLASS 2:
Annuity contracts in
accumulation 0 0 0 0 (13,869)
GROWTH PORTFOLIO --
INITIAL CLASS:
Annuity contracts in
accumulation 5,848,167 135,925,667 86,362,956 (49,562,711) 1,880,959
GROWTH PORTFOLIO --
SERVICE CLASS 2:
Annuity contracts in
accumulation 0 0 0 0 (3,537)
------------------------------------------------------------------------------------------------------------
</TABLE>
S-89
<PAGE>
VARIABLE ANNUITY ACCOUNT C
NOTES TO FINANCIAL STATEMENTS - September 30, 2000 (Unaudited and continued):
5. SUPPLEMENTAL INFORMATION TO STATEMENTS OF OPERATIONS (continued):
<TABLE>
Valuation Proceeds Cost of
PERIOD ENDED Period from Investments
SEPTEMBER 30, 2000 Dividends Deductions Sales Sold
<S> <C> <C> <C> <C>
HIGH INCOME
PORTFOLIO -- INITIAL
CLASS:
Annuity contracts in
accumulation $143,538 ($21,914) $844,669 $916,659
OVERSEAS PORTFOLIO --
INITIAL CLASS:
Annuity contracts in
accumulation 2,247,069 (198,873) 17,309,917 15,173,448
OVERSEAS PORTFOLIO --
SERVICE CLASS 2:
Annuity contracts in
accumulation 0 (37,642) 0 0
FIDELITY INVESTMENTS
VARIABLE INSURANCE
PRODUCTS FUNDS II:
ASSET MANAGER
PORTFOLIO -- INITIAL
CLASS:
Annuity contracts in
accumulation 2,891,552 (263,023) 3,753,754 3,137,131
CONTRAFUND PORTFOLIO --
INITIAL CLASS:
Annuity contracts in
accumulation 59,662,762 (3,866,318) 38,562,867 21,586,394
INDEX 500 PORTFOLIO --
INITIAL CLASS:
Annuity contracts in
accumulation 1,721,648 (1,010,871) 54,187,187 32,088,890
JANUS ASPEN SERIES:
AGGRESSIVE GROWTH
PORTFOLIO:
Annuity contracts in
accumulation 148,372,545 (11,443,274) 111,555,820 29,840,787
BALANCED PORTFOLIO:
Annuity contracts in
accumulation 28,812,783 (2,287,228) 9,271,348 4,878,516
CAPITAL APPRECIATION
PORTFOLIO:
Annuity contracts in
accumulation 0 (30) 0 0
FLEXIBLE INCOME
PORTFOLIO:
Annuity contracts in
accumulation 1,300,095 (262,941) 9,953,585 10,601,170
GROWTH PORTFOLIO:
Annuity contracts in
accumulation 37,007,606 (3,808,424) 16,053,953 7,274,125
Annuity contracts in
payment period 0 (1,081) 0 0
WORLDWIDE GROWTH
PORTFOLIO:
Annuity contracts in
accumulation 103,818,219 (10,870,604) 72,881,190 27,436,475
Annuity contracts in
payment period 0 (168) 0 0
TWENTY FUND:
Annuity contracts in
payment period 0 (9,503) 0 0
LEXINGTON EMERGING
MARKETS FUND:
Annuity contracts in
accumulation 0 (133,784) 30,304,246 29,178,615
LEXINGTON NATURAL
RESOURCES TRUST FUND:
Annuity contracts in
accumulation 59,448 (139,907) 6,811,494 8,348,542
MFS FUNDS:
TOTAL RETURN SERIES:
Annuity contracts in
accumulation 42,782 (14,447) 584,597 593,952
OPPENHEIMER FUNDS:
AGGRESSIVE GROWTH FUND:
Annuity contracts in
accumulation 0 (7,908) 0 0
---------------------------------------------------------------------------------
</TABLE>
S-90
<PAGE>
<TABLE>
Net Unrealized Net Net
Net Gain (Loss) Change in Increase (Decrease)
Realized --------------------------- Unrealized in Net Assets
PERIOD ENDED Gain (Loss) Beginning End Gain (Loss) Resulting from
SEPTEMBER 30, 2000 on Investments of Period of Period on Investments Operations
<S> <C> <C> <C> <C> <C>
HIGH INCOME
PORTFOLIO -- INITIAL
CLASS:
Annuity contracts in
accumulation ($71,990) $42,986 ($282,085) ($325,071) ($275,437)
OVERSEAS PORTFOLIO --
INITIAL CLASS:
Annuity contracts in
accumulation 2,136,469 5,076,505 (1,886,118) (6,962,623) (2,777,958)
OVERSEAS PORTFOLIO --
SERVICE CLASS 2:
Annuity contracts in
accumulation 0 0 0 0 (37,642)
FIDELITY INVESTMENTS
VARIABLE INSURANCE
PRODUCTS FUNDS II:
ASSET MANAGER
PORTFOLIO -- INITIAL
CLASS:
Annuity contracts in
accumulation 616,623 3,975,450 431,675 (3,543,775) (298,623)
CONTRAFUND PORTFOLIO --
INITIAL CLASS:
Annuity contracts in
accumulation 16,976,473 167,567,655 90,721,348 (76,846,307) (4,073,390)
INDEX 500 PORTFOLIO --
INITIAL CLASS:
Annuity contracts in
accumulation 22,098,297 35,135,496 9,759,111 (25,376,385) (2,567,311)
JANUS ASPEN SERIES:
AGGRESSIVE GROWTH
PORTFOLIO:
Annuity contracts in
accumulation 81,715,033 589,941,753 322,147,033 (267,794,720) (49,150,416)
BALANCED PORTFOLIO:
Annuity contracts in
accumulation 4,392,832 53,832,562 20,746,150 (33,086,412) (2,168,025)
CAPITAL APPRECIATION
PORTFOLIO:
Annuity contracts in
accumulation 0 0 0 0 (30)
FLEXIBLE INCOME
PORTFOLIO:
Annuity contracts in
accumulation (647,585) (1,682,793) (1,297,949) 384,844 774,413
GROWTH PORTFOLIO:
Annuity contracts in
accumulation 8,779,828 119,830,478 85,049,836 (34,780,642) 7,198,368
Annuity contracts in
payment period 0 0 0 0 (1,081)
WORLDWIDE GROWTH
PORTFOLIO:
Annuity contracts in
accumulation 45,444,715 537,057,291 338,146,749 (198,910,542) (60,518,212)
Annuity contracts in
payment period 0 0 0 0 (168)
TWENTY FUND:
Annuity contracts in
payment period 0 0 0 0 (9,503)
LEXINGTON EMERGING
MARKETS FUND:
Annuity contracts in
accumulation 1,125,631 3,274,926 (1,718,118) (4,993,044) (4,001,197)
LEXINGTON NATURAL
RESOURCES TRUST FUND:
Annuity contracts in
accumulation (1,537,048) (2,122,540) 725,735 2,848,275 1,230,768
MFS FUNDS:
TOTAL RETURN SERIES:
Annuity contracts in
accumulation (9,355) (1,178) 53,645 54,823 73,803
OPPENHEIMER FUNDS:
AGGRESSIVE GROWTH FUND:
Annuity contracts in
accumulation 0 0 0 0 (7,908)
-----------------------------------------------------------------------------------------------------------
</TABLE>
S-91
<PAGE>
VARIABLE ANNUITY ACCOUNT C
NOTES TO FINANCIAL STATEMENTS - September 30, 2000 (Unaudited and continued):
5. SUPPLEMENTAL INFORMATION TO STATEMENTS OF OPERATIONS (continued):
<TABLE>
Valuation Proceeds Cost of
PERIOD ENDED Period from Investments
SEPTEMBER 30, 2000 Dividends Deductions Sales Sold
<S> <C> <C> <C> <C>
GLOBAL SECURITIES FUND:
Annuity contracts in
accumulation $2,277,721 ($176,762) $4,708,872 $3,536,164
STRATEGIC BOND FUND:
Annuity contracts in
accumulation 320,219 (37,145) 1,638,855 1,744,097
PORTFOLIO PARTNERS, INC.
(PPI):
PPI MFS CAPITAL
OPPORTUNITIES
PORTFOLIO: (1)
Annuity contracts in
accumulation 41,352,585 (2,363,635) 10,842,855 5,552,172
PPI MFS EMERGING
EQUITIES PORTFOLIO:
Annuity contracts in
accumulation 6,199,858 (4,912,802) 41,135,876 22,154,677
PPI MFS RESEARCH GROWTH
PORTFOLIO:
Annuity contracts in
accumulation 18,992,631 (2,201,582) 25,353,936 16,546,233
PPI SCUDDER
INTERNATIONAL GROWTH
PORTFOLIO:
Annuity contracts in
accumulation 24,723,742 (2,253,606) 503,664,786 486,534,816
PPI T. ROWE PRICE GROWTH
EQUITY PORTFOLIO:
Annuity contracts in
accumulation 21,160,269 (2,087,587) 20,040,930 12,844,500
TOTAL VARIABLE ANNUITY
ACCOUNT C $920,525,538 ($134,405,965) $3,040,080,663 $2,720,079,850
</TABLE>
(1) - Effective May 1, 2000, PPI MFS Value Equity Portfolio's name changed
to PPI MFS Capital Opportunities Portfolio.
S-92
<PAGE>
<TABLE>
Net Unrealized Net Net
Net Gain (Loss) Change in Increase (Decrease)
Realized ----------------------------- Unrealized in Net Assets
PERIOD ENDED Gain (Loss) Beginning End Gain (Loss) Resulting from
SEPTEMBER 30, 2000 on Investments of Period of Period on Investments Operations
<S> <C> <C> <C> <C> <C>
GLOBAL SECURITIES FUND:
Annuity contracts in
accumulation $1,172,708 $1,418,022 ($1,681,402) ($3,099,424) $174,243
STRATEGIC BOND FUND:
Annuity contracts in
accumulation (105,242) (2,586) (100,669) (98,083) 79,749
PORTFOLIO PARTNERS, INC.
(PPI):
PPI MFS CAPITAL
OPPORTUNITIES
PORTFOLIO: (1)
Annuity contracts in
accumulation 5,290,683 93,135,075 66,624,340 (26,510,735) 17,768,898
PPI MFS EMERGING
EQUITIES PORTFOLIO:
Annuity contracts in
accumulation 18,981,199 265,730,062 185,230,468 (80,499,594) (60,231,339)
PPI MFS RESEARCH GROWTH
PORTFOLIO:
Annuity contracts in
accumulation 8,807,703 81,650,752 76,123,266 (5,527,486) 20,071,266
PPI SCUDDER
INTERNATIONAL GROWTH
PORTFOLIO:
Annuity contracts in
accumulation 17,129,970 60,499,972 (29,526,398) (90,026,370) (50,426,264)
PPI T. ROWE PRICE GROWTH
EQUITY PORTFOLIO:
Annuity contracts in
accumulation 7,196,430 76,614,253 69,331,282 (7,282,971) 18,986,141
TOTAL VARIABLE ANNUITY
ACCOUNT C $320,000,813 $2,223,496,072 $840,691,183 ($1,382,804,889) ($276,684,503)
</TABLE>
(1) - Effective May 1, 2000, PPI MFS Value Equity Portfolio's name changed
to PPI MFS Capital Opportunities Portfolio.
S-93
<PAGE>
VARIABLE ANNUITY ACCOUNT C
NOTES TO FINANCIAL STATEMENTS - September 30, 2000 (Unaudited and continued):
6. SUPPLEMENTAL INFORMATION TO STATEMENTS OF CHANGES IN NET ASSETS
<TABLE>
<CAPTION>
Net
Net Change in
Net Realized Unrealized
Investment Gain (Loss) Gain (Loss)
PERIOD ENDED SEPTEMBER 30, 2000 Income on Investments on Investments
<S> <C> <C> <C>
AETNA ASCENT VP:
Annuity contracts in accumulation $252,667 $1,929,703 $180,194
AETNA BALANCED VP:
Annuity contracts in accumulation 22,635,443 18,346,220 (17,034,394)
Annuity contracts in payment period
AETNA BOND VP:
Annuity contracts in accumulation 1,166,303 (2,873,885) 13,970,929
Annuity contracts in payment period
AETNA CROSSROADS VP:
Annuity contracts in accumulation 618,696 126,490 752,178
Annuity contracts in payment period
AETNA GET FUND, SERIES B:
Annuity contracts in accumulation (2) 0 0
AETNA GET FUND, SERIES C:
Annuity contracts in accumulation 12,706,024 3,485,401 (18,883,868)
AETNA GET FUND, SERIES D:
Annuity contracts in accumulation 1,660,084 3,045,731 (18,133,745)
AETNA GET FUND, SERIES E:
Annuity contracts in accumulation (1,113,609) 898,530 (3,632,174)
AETNA GET FUND, SERIES G:
Annuity contracts in accumulation (358,728) 69,930 (883,387)
AETNA GET FUND, SERIES H:
Annuity contracts in accumulation (271,774) 145,137 1,084,116
AETNA GET FUND, SERIES I:
Annuity contracts in accumulation (9,548) 2,273 9,982
AETNA GET FUND, SERIES J:
Annuity contracts in accumulation (696) 4 (6,803)
AETNA GET FUND, SERIES K:
Annuity contracts in accumulation (14) 0 84
AETNA GROWTH AND INCOME VP:
Annuity contracts in accumulation 195,123,047 (1,507,364) (350,409,526)
Annuity contracts in payment period
AETNA GROWTH VP:
Annuity contracts in accumulation 1,599,708 2,788,336 3,277,109
Annuity contracts in payment period
AETNA HIGH YIELD VP:
Annuity contracts in accumulation (12,839) (193,634) 112,582
AETNA INDEX PLUS BOND VP:
Annuity contracts in accumulation (6,435) (14,618) 64,241
<CAPTION>
Net
Increase (Decrease) Net Assets
in Net Assets ----------
from Unit Beginning End
PERIOD ENDED SEPTEMBER 30, 2000 Transactions of Period of Period
<S> <C> <C> <C>
AETNA ASCENT VP:
Annuity contracts in accumulation ($4,496,014) $81,880,934 $79,747,484
AETNA BALANCED VP:
Annuity contracts in accumulation (87,836,207) 958,810,376 894,471,329
Annuity contracts in payment period 34,529,808 34,979,917
AETNA BOND VP:
Annuity contracts in accumulation (37,474,186) 312,007,882 286,825,905
Annuity contracts in payment period 5,764,551 5,735,689
AETNA CROSSROADS VP:
Annuity contracts in accumulation (4,796,760) 67,400,270 64,102,720
Annuity contracts in payment period 73,220 71,374
AETNA GET FUND, SERIES B:
Annuity contracts in accumulation 2 0 0
AETNA GET FUND, SERIES C:
Annuity contracts in accumulation (16,184,584) 170,407,185 151,530,158
AETNA GET FUND, SERIES D:
Annuity contracts in accumulation (105,563,844) 471,441,304 352,449,530
AETNA GET FUND, SERIES E:
Annuity contracts in accumulation (13,547,838) 157,821,380 140,426,289
AETNA GET FUND, SERIES G:
Annuity contracts in accumulation (4,799,929) 45,668,355 39,696,241
AETNA GET FUND, SERIES H:
Annuity contracts in accumulation 28,103,810 1,782,585 30,843,874
AETNA GET FUND, SERIES I:
Annuity contracts in accumulation 1,515,947 0 1,518,654
AETNA GET FUND, SERIES J:
Annuity contracts in accumulation 473,026 0 465,531
AETNA GET FUND, SERIES K:
Annuity contracts in accumulation 84,602 0 84,672
AETNA GROWTH AND INCOME VP:
Annuity contracts in accumulation (593,858,736) 5,753,192,035 5,026,037,273
Annuity contracts in payment period 373,523,149 350,025,332
AETNA GROWTH VP:
Annuity contracts in accumulation 49,478,037 145,431,206 202,458,428
Annuity contracts in payment period 71,588 187,556
AETNA HIGH YIELD VP:
Annuity contracts in accumulation (2,083,602) 2,177,493 0
AETNA INDEX PLUS BOND VP:
Annuity contracts in accumulation (1,042,892) 999,704 0
</TABLE>
S-94
<PAGE>
VARIABLE ANNUITY ACCOUNT C
NOTES TO FINANCIAL STATEMENTS - September 30, 2000 (Unaudited and continued):
6. SUPPLEMENTAL INFORMATION TO STATEMENTS OF CHANGES IN NET
ASSETS (continued):
<TABLE>
<CAPTION>
Net
Net Change in
Net Realized Unrealized
Investment Gain (Loss) Gain (Loss)
PERIOD ENDED SEPTEMBER 30, 2000 Income on Investments on Investments
<S> <C> <C> <C>
AETNA INDEX PLUS LARGE CAP VP:
Annuity contracts in
accumulation $17,856,217 $16,678,882 ($43,899,910)
Annuity contracts in payment
period
AETNA INDEX PLUS MID CAP VP:
Annuity contracts in
accumulation 101,232 980,826 2,305,694
AETNA INDEX PLUS SMALL CAP VP:
Annuity contracts in
accumulation (78,543) 728,951 (190,136)
AETNA INTERNATIONAL VP:
Annuity contracts in
accumulation 360,185 1,159,571 (3,286,111)
AETNA LEGACY VP:
Annuity contracts in
accumulation 444,683 248,625 1,008,427
Annuity contracts in payment
period
AETNA MONEY MARKET VP:
Annuity contracts in
accumulation 11,620,494 565,307 (873,569)
Annuity contracts in payment
period
AETNA REAL ESTATE SECURITIES
VP:
Annuity contracts in
accumulation (13,914) 383,451 72,859
AETNA SMALL COMPANY VP:
Annuity contracts in
accumulation 4,957,914 13,638,465 (10,785,593)
Annuity contracts in payment
period
AETNA TECHNOLOGY VP:
Annuity contracts in
accumulation (49,765) 82,316 (2,188,921)
AETNA VALUE OPPORTUNITY VP:
Annuity contracts in
accumulation 5,389,460 2,522,265 (4,736,260)
AIM V.I. FUNDS:
CAPITAL APPRECIATION FUND:
Annuity contracts in
accumulation (81,811) 322,120 662,787
Annuity contracts in payment
period (1,343) 0 0
GROWTH AND INCOME FUND:
Annuity contracts in
accumulation (224,600) 373,504 (102,892)
Annuity contracts in payment
period (559) 0 0
GROWTH FUND:
Annuity contracts in
accumulation (112,630) 150,182 (634,961)
VALUE FUND:
Annuity contracts in
accumulation (123,055) 206,358 (1,737,133)
Annuity contracts in payment
period (2,022) 0 0
ALLIANCE FUNDS:
GROWTH AND INCOME PORTFOLIO:
Annuity contracts in
accumulation (5,718) 0 0
AMERICAN CENTURY INCOME AND
GROWTH FUND:
Annuity contracts in
accumulation (15,327) 0 0
<CAPTION>
Net
Increase (Decrease) Net Assets
in Net Assets ----------
from Unit Beginning End
PERIOD ENDED SEPTEMBER 30, 2000 Transactions of Period of Period
<S> <C> <C> <C>
AETNA INDEX PLUS LARGE CAP VP:
Annuity contracts in
accumulation $56,821,828 $473,757,587 $520,347,045
Annuity contracts in payment
period 1,234,629 2,102,188
AETNA INDEX PLUS MID CAP VP:
Annuity contracts in
accumulation 13,825,738 9,210,760 26,424,250
AETNA INDEX PLUS SMALL CAP VP:
Annuity contracts in
accumulation 1,857,987 8,277,508 10,595,767
AETNA INTERNATIONAL VP:
Annuity contracts in
accumulation 8,389,003 7,714,709 14,337,357
AETNA LEGACY VP:
Annuity contracts in
accumulation (4,635,476) 42,650,270 39,760,158
Annuity contracts in payment
period 247,224 203,595
AETNA MONEY MARKET VP:
Annuity contracts in
accumulation (21,764,242) 325,367,721 314,916,923
Annuity contracts in payment
period 80,784 79,572
AETNA REAL ESTATE SECURITIES
VP:
Annuity contracts in
accumulation (2,426,021) 1,983,625 0
AETNA SMALL COMPANY VP:
Annuity contracts in
accumulation 38,935,399 62,919,038 109,635,112
Annuity contracts in payment
period 11,036 41,147
AETNA TECHNOLOGY VP:
Annuity contracts in
accumulation 25,636,291 0 23,479,921
AETNA VALUE OPPORTUNITY VP:
Annuity contracts in
accumulation 5,871,029 34,639,709 43,686,203
AIM V.I. FUNDS:
CAPITAL APPRECIATION FUND:
Annuity contracts in
accumulation 16,094,503 1,830,289 18,826,545
Annuity contracts in payment
period 0 0 0
GROWTH AND INCOME FUND:
Annuity contracts in
accumulation 33,970,477 9,752,003 43,767,933
Annuity contracts in payment
period 0 0 0
GROWTH FUND:
Annuity contracts in
accumulation 17,418,139 4,700,713 21,521,443
VALUE FUND:
Annuity contracts in
accumulation 12,606,304 8,538,069 19,488,521
Annuity contracts in payment
period 0 0
ALLIANCE FUNDS:
GROWTH AND INCOME PORTFOLIO:
Annuity contracts in
accumulation 5,718 0 0
AMERICAN CENTURY INCOME AND
GROWTH FUND:
Annuity contracts in
accumulation 15,327 0 0
</TABLE>
S-95
<PAGE>
VARIABLE ANNUITY ACCOUNT C
NOTES TO FINANCIAL STATEMENTS - September 30, 2000 (Unaudited and continued):
6. SUPPLEMENTAL INFORMATION TO STATEMENTS OF CHANGES IN NET
ASSETS (continued):
<TABLE>
<CAPTION>
Net
Net Change in
Net Realized Unrealized
Investment Gain (Loss) Gain (Loss)
PERIOD ENDED SEPTEMBER 30, 2000 Income on Investments on Investments
<S> <C> <C> <C>
CALVERT SOCIAL BALANCED
PORTFOLIO:
Annuity contracts in
accumulation ($555,968) $2,713,121 $535,035
CHAPMAN DEM EQUITY FUND:
Annuity contracts in
accumulation (94) 0 0
FIDELITY INVESTMENTS VARIABLE INSURANCE
PRODUCTS FUNDS:
EQUITY-INCOME PORTFOLIO -- INITIAL CLASS:
Annuity contracts in
accumulation 14,392,300 7,657,074 (17,482,770)
EQUITY-INCOME PORTFOLIO --
SERVICE CLASS 2:
Annuity contracts in
accumulation (13,869) 0 0
GROWTH PORTFOLIO -- INITIAL
CLASS:
Annuity contracts in
accumulation 45,595,503 5,848,167 (49,562,711)
GROWTH PORTFOLIO -- SERVICE
CLASS 2:
Annuity contracts in
accumulation (3,537) 0 0
HIGH INCOME PORTFOLIO --
INITIAL CLASS:
Annuity contracts in
accumulation 121,624 (71,990) (325,071)
OVERSEAS PORTFOLIO -- INITIAL
CLASS:
Annuity contracts in
accumulation 2,048,196 2,136,469 (6,962,623)
OVERSEAS PORTFOLIO -- SERVICE
CLASS 2:
Annuity contracts in
accumulation (37,642) 0 0
FIDELITY INVESTMENTS VARIABLE INSURANCE
PRODUCTS FUNDS II:
ASSET MANAGER PORTFOLIO -- INITIAL CLASS:
Annuity contracts in
accumulation 2,628,529 616,623 (3,543,775)
CONTRAFUND PORTFOLIO --
INITIAL CLASS:
Annuity contracts in
accumulation 55,796,444 16,976,473 (76,846,307)
INDEX 500 PORTFOLIO --
INITIAL CLASS:
Annuity contracts in
accumulation 710,777 22,098,297 (25,376,385)
JANUS ASPEN SERIES:
AGGRESSIVE GROWTH PORTFOLIO:
Annuity contracts in
accumulation 136,929,271 81,715,033 (267,794,720)
BALANCED PORTFOLIO:
Annuity contracts in
accumulation 26,525,555 4,392,832 (33,086,412)
CAPITAL APPRECIATION
PORTFOLIO:
Annuity contracts in
accumulation (30) 0 0
FLEXIBLE INCOME PORTFOLIO:
Annuity contracts in
accumulation 1,037,154 (647,585) 384,844
GROWTH PORTFOLIO:
Annuity contracts in
accumulation 33,199,182 8,779,828 (34,780,642)
Annuity contracts in payment
period (1,081) 0 0
<CAPTION>
Net
Increase (Decrease) Net Assets
in Net Assets ----------
from Unit Beginning End
PERIOD ENDED SEPTEMBER 30, 2000 Transactions of Period of Period
<S> <C> <C> <C>
CALVERT SOCIAL BALANCED
PORTFOLIO:
Annuity contracts in
accumulation ($3,507,501) $68,092,305 $67,276,992
CHAPMAN DEM EQUITY FUND:
Annuity contracts in
accumulation 94 0 0
FIDELITY INVESTMENTS VARIABLE I
PRODUCTS FUNDS:
EQUITY-INCOME PORTFOLIO -- IN
Annuity contracts in
accumulation (34,691,958) 213,941,762 183,816,408
EQUITY-INCOME PORTFOLIO --
SERVICE CLASS 2:
Annuity contracts in
accumulation 13,869 0 0
GROWTH PORTFOLIO -- INITIAL
CLASS:
Annuity contracts in
accumulation 61,482,844 440,335,255 503,699,058
GROWTH PORTFOLIO -- SERVICE
CLASS 2:
Annuity contracts in
accumulation 3,537 0 0
HIGH INCOME PORTFOLIO --
INITIAL CLASS:
Annuity contracts in
accumulation 1,318,453 1,873,989 2,917,005
OVERSEAS PORTFOLIO -- INITIAL
CLASS:
Annuity contracts in
accumulation 309,195 22,033,565 19,564,802
OVERSEAS PORTFOLIO -- SERVICE
CLASS 2:
Annuity contracts in
accumulation 37,642 0 0
FIDELITY INVESTMENTS VARIABLE I
PRODUCTS FUNDS II:
ASSET MANAGER PORTFOLIO -- IN
Annuity contracts in
accumulation (2,285,632) 27,730,745 25,146,490
CONTRAFUND PORTFOLIO --
INITIAL CLASS:
Annuity contracts in
accumulation (17,166,892) 475,353,405 454,113,123
INDEX 500 PORTFOLIO --
INITIAL CLASS:
Annuity contracts in
accumulation (4,623,647) 122,573,178 115,382,220
JANUS ASPEN SERIES:
AGGRESSIVE GROWTH PORTFOLIO:
Annuity contracts in
accumulation 331,110,224 1,093,429,837 1,375,389,645
BALANCED PORTFOLIO:
Annuity contracts in
accumulation 58,325,739 235,410,674 291,568,388
CAPITAL APPRECIATION
PORTFOLIO:
Annuity contracts in
accumulation 30 0 0
FLEXIBLE INCOME PORTFOLIO:
Annuity contracts in
accumulation 1,067,722 32,908,277 34,750,412
GROWTH PORTFOLIO:
Annuity contracts in
accumulation 127,270,538 362,723,120 496,752,536
Annuity contracts in payment
period 0 689,393 1,127,802
</TABLE>
S-96
<PAGE>
VARIABLE ANNUITY ACCOUNT C
NOTES TO FINANCIAL STATEMENTS - September 30, 2000 (Unaudited and continued):
6. SUPPLEMENTAL INFORMATION TO STATEMENTS OF CHANGES IN NET
ASSETS (continued):
<TABLE>
<CAPTION>
Net
Net Change in
Net Realized Unrealized
Investment Gain (Loss) Gain (Loss)
PERIOD ENDED SEPTEMBER 30, 2000 Income on Investments on Investments
<S> <C> <C> <C>
WORLDWIDE GROWTH PORTFOLIO:
Annuity contracts in accumulation $92,947,615 $45,444,715 ($198,910,542)
Annuity contracts in payment period (168) 0 0
TWENTY FUND:
Annuity contracts in payment period (9,503) 0 0
LEXINGTON EMERGING MARKETS FUND:
Annuity contracts in accumulation (133,784) 1,125,631 (4,993,044)
LEXINGTON NATURAL RESOURCES TRUST FUND:
Annuity contracts in accumulation (80,459) (1,537,048) 2,848,275
MFS FUNDS:
TOTAL RETURN SERIES:
Annuity contracts in accumulation 28,335 (9,355) 54,823
OPPENHEIMER FUNDS:
AGGRESSIVE GROWTH FUND:
Annuity contracts in accumulation (7,908) 0 0
GLOBAL SECURITIES FUND:
Annuity contracts in accumulation 2,100,959 1,172,708 (3,099,424)
STRATEGIC BOND FUND:
Annuity contracts in accumulation 283,074 (105,242) (98,083)
Annuity contracts in payment period
PORTFOLIO PARTNERS, INC. (PPI):
PPI MFS CAPITAL OPPORTUNITIES PORTFOLIO: (1)
Annuity contracts in accumulation 38,988,950 5,290,683 (26,510,735)
Annuity contracts in payment period
PPI MFS EMERGING EQUITIES PORTFOLIO:
Annuity contracts in accumulation 1,287,056 18,981,199 (80,499,594)
Annuity contracts in payment period
PPI MFS RESEARCH GROWTH PORTFOLIO:
Annuity contracts in accumulation 16,791,049 8,807,703 (5,527,486)
PPI SCUDDER INTERNATIONAL GROWTH PORTFOLIO:
Annuity contracts in accumulation 22,470,136 17,129,970 (90,026,370)
Annuity contracts in payment period
PPI T. ROWE PRICE GROWTH EQUITY PORTFOLIO:
Annuity contracts in accumulation 19,072,682 7,196,430 (7,282,971)
Annuity contracts in payment period
TOTAL VARIABLE ANNUITY ACCOUNT C $786,119,573 $320,000,813 ($1,382,804,889)
<CAPTION>
Net
Increase (Decrease) Net Assets
in Net Assets ----------
from Unit Beginning End
PERIOD ENDED SEPTEMBER 30, 2000 Transactions of Period of Period
<S> <C> <C> <C>
WORLDWIDE GROWTH PORTFOLIO:
Annuity contracts in accumulation $173,363,012 $1,136,307,574 $1,248,704,210
Annuity contracts in payment period 752,858 1,200,854
TWENTY FUND:
Annuity contracts in payment period 9,503 0 0
LEXINGTON EMERGING MARKETS FUND:
Annuity contracts in accumulation 854,144 11,586,115 8,439,062
LEXINGTON NATURAL RESOURCES TRUST FUND:
Annuity contracts in accumulation (1,876,007) 16,508,469 15,863,230
MFS FUNDS:
TOTAL RETURN SERIES:
Annuity contracts in accumulation 238,752 684,196 996,751
OPPENHEIMER FUNDS:
AGGRESSIVE GROWTH FUND:
Annuity contracts in accumulation 7,908 0 0
GLOBAL SECURITIES FUND:
Annuity contracts in accumulation 29,333,489 5,871,877 35,379,609
STRATEGIC BOND FUND:
Annuity contracts in accumulation 1,789,018 3,464,259 5,337,088
Annuity contracts in payment period 27,517 23,455
PORTFOLIO PARTNERS, INC. (PPI):
PPI MFS CAPITAL OPPORTUNITIES PORTFOLIO: (1)
Annuity contracts in accumulation 69,008,338 226,770,707 313,217,320
Annuity contracts in payment period 36,974 367,597
PPI MFS EMERGING EQUITIES PORTFOLIO:
Annuity contracts in accumulation 12,049,825 597,714,231 549,431,632
Annuity contracts in payment period 38,500 139,585
PPI MFS RESEARCH GROWTH PORTFOLIO:
Annuity contracts in accumulation (11,692,391) 255,763,877 264,142,752
PPI SCUDDER INTERNATIONAL GROWTH PORTFOLIO:
Annuity contracts in accumulation (8,157,251) 291,483,624 232,889,808
Annuity contracts in payment period 0 10,301
PPI T. ROWE PRICE GROWTH EQUITY PORTFOLIO:
Annuity contracts in accumulation (4,819,719) 243,032,240 257,197,216
Annuity contracts in payment period 62,930 64,376
TOTAL VARIABLE ANNUITY ACCOUNT C $189,365,714 $15,463,100,152 $15,375,781,363
</TABLE>
(1) - Effective May 1, 2000, PPI MFS Value Equity Portfolio's name changed
to PPI MFS Capital Opportunities Portfolio.
S-97
<PAGE>
VARIABLE ANNUITY ACCOUNT C
NOTES TO FINANCIAL STATEMENTS - September 30, 2000 (Unaudited and continued):
6. SUPPLEMENTAL INFORMATION TO STATEMENTS OF CHANGES IN NET
ASSETS (continued):
<TABLE>
<CAPTION>
Net Net
Net Change in Increase (Decrease) Net Assets
Net Realized Unrealized in Net Assets ----
Investment Gain (Loss) Gain (Loss) from Unit Beginning
PERIOD ENDED SEPTEMBER 30, 1999 Income on Investments on Investments Transactions of Period
<S> <C> <C> <C> <C> <C>
AETNA ASCENT VP:
Annuity contracts in
accumulation ($528,897) $2,530,437 ($126,011) ($10,386,949) $86,000,256
AETNA BALANCED VP:
Annuity contracts in
accumulation 64,092,721 30,247,806 (70,042,588) (98,776,769) 982,574,403
Annuity contracts in payment
period 29,218,792
AETNA BOND VP:
Annuity contracts in
accumulation 5,059,206 1,184,276 (10,563,970) (49,853,072) 377,693,504
Annuity contracts in payment
period 6,384,037
AETNA CROSSROADS VP:
Annuity contracts in
accumulation (518,302) 1,758,220 (397,137) (9,700,066) 74,028,644
Annuity contracts in payment
period 71,489
AETNA GET FUND, SERIES B:
Annuity contracts in
accumulation 19,358,522 (12,039,285) (6,591,127) (60,309,286) 59,581,177
AETNA GET FUND, SERIES C:
Annuity contracts in
accumulation 35,524,838 18,107,391 (44,520,164) (56,641,742) 198,180,953
AETNA GET FUND, SERIES D:
Annuity contracts in
accumulation (4,993,138) 827,041 (1,022,986) 199,405,741 270,980,130
AETNA GET FUND, SERIES E:
Annuity contracts in
accumulation (300,048) (1,228) (2,506,806) 150,585,488 0
AETNA GET FUND, SERIES G:
Annuity contracts in
accumulation (821) 0 3,268 3,879,895 0
AETNA GROWTH AND INCOME VP:
Annuity contracts in
accumulation 139,327,508 122,239,193 (34,179,263) (745,500,947) 5,846,282,205
Annuity contracts in payment
period 328,867,005
AETNA GROWTH VP:
Annuity contracts in
accumulation (845,420) 1,613,816 5,501,607 45,479,085 64,734,239
Annuity contracts in payment
period 116,487
AETNA HIGH YIELD VP:
Annuity contracts in
accumulation (15,998) (12,520) 59,844 735,670 1,244,378
AETNA INDEX PLUS BOND VP:
Annuity contracts in
accumulation (11,965) (73,421) 55,693 (266,877) 1,425,611
AETNA INDEX PLUS LARGE CAP VP:
Annuity contracts in
accumulation (138,403) 2,653,453 8,331,693 140,873,955 238,578,749
Annuity contracts in payment
period 437,343
AETNA INDEX PLUS MID CAP VP:
Annuity contracts in
accumulation 6,223 346,153 (658,298) 3,093,692 4,116,477
AETNA INDEX PLUS SMALL CAP VP:
Annuity contracts in
accumulation (52,023) 395,950 (426,373) 2,333,916 4,953,155
AETNA INTERNATIONAL VP:
Annuity contracts in
accumulation 21,385 226,201 152,448 1,709,325 2,016,027
<CAPTION>
Net Assets
----
End
PERIOD ENDED SEPTEMBER 30, 1999 of Period
<S> <C>
AETNA ASCENT VP:
Annuity contracts in
accumulation $77,488,836
AETNA BALANCED VP:
Annuity contracts in
accumulation 905,637,300
Annuity contracts in payment
period 31,677,065
AETNA BOND VP:
Annuity contracts in
accumulation 323,880,462
Annuity contracts in payment
period 6,023,519
AETNA CROSSROADS VP:
Annuity contracts in
accumulation 65,173,753
Annuity contracts in payment
period 69,095
AETNA GET FUND, SERIES B:
Annuity contracts in
accumulation 0
AETNA GET FUND, SERIES C:
Annuity contracts in
accumulation 150,651,276
AETNA GET FUND, SERIES D:
Annuity contracts in
accumulation 465,196,788
AETNA GET FUND, SERIES E:
Annuity contracts in
accumulation 147,777,406
AETNA GET FUND, SERIES G:
Annuity contracts in
accumulation 3,882,342
AETNA GROWTH AND INCOME VP:
Annuity contracts in
accumulation 5,319,578,027
Annuity contracts in payment
period 337,457,674
AETNA GROWTH VP:
Annuity contracts in
accumulation 116,434,702
Annuity contracts in payment
period 165,112
AETNA HIGH YIELD VP:
Annuity contracts in
accumulation 2,011,373
AETNA INDEX PLUS BOND VP:
Annuity contracts in
accumulation 1,129,041
AETNA INDEX PLUS LARGE CAP VP:
Annuity contracts in
accumulation 389,629,714
Annuity contracts in payment
period 1,107,077
AETNA INDEX PLUS MID CAP VP:
Annuity contracts in
accumulation 6,904,248
AETNA INDEX PLUS SMALL CAP VP:
Annuity contracts in
accumulation 7,204,625
AETNA INTERNATIONAL VP:
Annuity contracts in
accumulation 4,125,386
</TABLE>
S-98
<PAGE>
VARIABLE ANNUITY ACCOUNT C
NOTES TO FINANCIAL STATEMENTS - September 30, 2000 (Unaudited and continued):
6. SUPPLEMENTAL INFORMATION TO STATEMENTS OF CHANGES IN NET
ASSETS (continued):
<TABLE>
<CAPTION>
Net
Net Change in
Net Realized Unrealized
Investment Gain (Loss) Gain (Loss)
PERIOD ENDED SEPTEMBER 30, 1999 Income on Investments on Investments
<S> <C> <C> <C>
AETNA LEGACY VP:
Annuity contracts in
accumulation ($362,982) $569,900 $365,460
Annuity contracts in payment
period
AETNA MONEY MARKET VP:
Annuity contracts in
accumulation 9,169,963 (422,336) (1,568,681)
Annuity contracts in payment
period
AETNA REAL ESTATE SECURITIES
VP:
Annuity contracts in
accumulation (15,533) (27,279) (29,818)
AETNA SMALL COMPANY VP:
Annuity contracts in
accumulation (352,447) (2,100,295) 4,395,364
Annuity contracts in payment
period
AETNA VALUE OPPORTUNITY VP:
Annuity contracts in
accumulation (246,232) 1,376,592 (471,627)
AIM V.I. FUNDS:
CAPITAL APPRECIATION FUND:
Annuity contracts in
accumulation (1,509) (8,843) (213)
GROWTH AND INCOME FUND:
Annuity contracts in
accumulation (5,145) (1,045) (45,439)
GROWTH FUND:
Annuity contracts in
accumulation (3,626) (8) (3,660)
VALUE FUND:
Annuity contracts in
accumulation (10,049) (594) (87,898)
CALVERT SOCIAL BALANCED
PORTFOLIO:
Annuity contracts in
accumulation (564,978) 2,310,400 (893,002)
FIDELITY INVESTMENTS VARIABLE INSURANCE
PRODUCTS FUNDS:
EQUITY-INCOME PORTFOLIO:
Annuity contracts in
accumulation 8,271,246 8,215,470 (12,267,026)
GROWTH PORTFOLIO:
Annuity contracts in
accumulation 24,616,570 4,986,502 (5,589,239)
HIGH INCOME PORTFOLIO:
Annuity contracts in
accumulation 129,773 (45,280) (31,203)
OVERSEAS PORTFOLIO:
Annuity contracts in
accumulation 445,793 268,135 1,213,565
FIDELITY INVESTMENTS VARIABLE INSURANCE
PRODUCTS FUNDS II:
ASSET MANAGER PORTFOLIO:
Annuity contracts in
accumulation 1,742,731 546,005 (1,969,060)
CONTRAFUND PORTFOLIO:
Annuity contracts in
accumulation 11,085,351 9,271,644 (3,252,318)
<CAPTION>
Net
Increase (Decrease) Net Assets
in Net Assets ----------
from Unit Beginning End
PERIOD ENDED SEPTEMBER 30, 1999 Transactions of Period of Period
<S> <C> <C> <C>
AETNA LEGACY VP:
Annuity contracts in
accumulation ($11,186,103) $53,070,226 $42,476,668
Annuity contracts in payment
period 261,063 240,896
AETNA MONEY MARKET VP:
Annuity contracts in
accumulation 17,876,267 258,856,854 283,913,887
Annuity contracts in payment
period 83,117 81,297
AETNA REAL ESTATE SECURITIES
VP:
Annuity contracts in
accumulation 626,027 1,561,066 2,114,463
AETNA SMALL COMPANY VP:
Annuity contracts in
accumulation (22,306) 47,966,985 49,888,216
Annuity contracts in payment
period 9,901 8,985
AETNA VALUE OPPORTUNITY VP:
Annuity contracts in
accumulation 734,278 28,785,139 30,178,149
AIM V.I. FUNDS:
CAPITAL APPRECIATION FUND:
Annuity contracts in
accumulation 568,878 0 558,313
GROWTH AND INCOME FUND:
Annuity contracts in
accumulation 2,621,401 0 2,569,771
GROWTH FUND:
Annuity contracts in
accumulation 1,723,362 0 1,716,068
VALUE FUND:
Annuity contracts in
accumulation 5,065,102 0 4,966,561
CALVERT SOCIAL BALANCED
PORTFOLIO:
Annuity contracts in
accumulation (2,634,400) 63,901,407 62,119,427
FIDELITY INVESTMENTS VARIABLE I
PRODUCTS FUNDS:
EQUITY-INCOME PORTFOLIO:
Annuity contracts in
accumulation (15,833,594) 226,201,287 214,587,383
GROWTH PORTFOLIO:
Annuity contracts in
accumulation 89,621,625 230,408,503 344,043,961
HIGH INCOME PORTFOLIO:
Annuity contracts in
accumulation 145,085 1,611,556 1,809,931
OVERSEAS PORTFOLIO:
Annuity contracts in
accumulation 263,938 14,814,602 17,006,033
FIDELITY INVESTMENTS VARIABLE I
PRODUCTS FUNDS II:
ASSET MANAGER PORTFOLIO:
Annuity contracts in
accumulation (510,075) 26,699,659 26,509,260
CONTRAFUND PORTFOLIO:
Annuity contracts in
accumulation 31,786,814 360,081,326 408,972,817
</TABLE>
S-99
<PAGE>
VARIABLE ANNUITY ACCOUNT C
NOTES TO FINANCIAL STATEMENTS - September 30, 2000 (Unaudited and continued):
6. SUPPLEMENTAL INFORMATION TO STATEMENTS OF CHANGES IN NET
ASSETS (continued):
<TABLE>
<CAPTION>
Net
Net Change in
Net Realized Unrealized
Investment Gain (Loss) Gain (Loss)
PERIOD ENDED SEPTEMBER 30, 1999 Income on Investments on Investments
<S> <C> <C> <C>
INDEX 500 PORTFOLIO:
Annuity contracts in
accumulation $583,674 $5,046,493 ($2,186,598)
JANUS ASPEN SERIES:
AGGRESSIVE GROWTH PORTFOLIO:
Annuity contracts in
accumulation 15,648,653 12,281,240 110,615,546
BALANCED PORTFOLIO:
Annuity contracts in
accumulation 510,267 1,623,106 5,168,030
FLEXIBLE INCOME PORTFOLIO:
Annuity contracts in
accumulation 876,827 164,836 (1,496,896)
GROWTH PORTFOLIO:
Annuity contracts in
accumulation (317,000) 3,295,747 21,571,307
Annuity contracts in payment
period
WORLDWIDE GROWTH PORTFOLIO:
Annuity contracts in
accumulation (4,604,658) 22,387,619 74,761,058
Annuity contracts in payment
period
LEXINGTON EMERGING MARKETS
FUND:
Annuity contracts in
accumulation (13,866) (964,884) 1,973,884
LEXINGTON NATURAL RESOURCES
TRUST FUND:
Annuity contracts in
accumulation (53,006) (1,597,438) 3,132,261
MFS FUNDS:
TOTAL RETURN SERIES:
Annuity contracts in
accumulation 23,581 8,291 (36,785)
OPPENHEIMER FUNDS:
GLOBAL SECURITIES FUND:
Annuity contracts in
accumulation 44,528 151,032 28,406
STRATEGIC BOND FUND:
Annuity contracts in
accumulation 134,300 (32,516) (114,866)
Annuity contracts in payment
period
PORTFOLIO PARTNERS, INC. (PPI):
PPI MFS EMERGING EQUITIES
PORTFOLIO:
Annuity contracts in
accumulation 929,895 15,044,902 29,079,913
Annuity contracts in payment
period
PPI MFS RESEARCH GROWTH
PORTFOLIO:
Annuity contracts in
accumulation (1,586,825) 7,875,790 (3,425,228)
PPI MFS VALUE EQUITY
PORTFOLIO:
Annuity contracts in
accumulation 3,418,104 5,114,620 12,399,204
Annuity contracts in payment
period
PPI SCUDDER INTERNATIONAL GROWTH PORTFOLIO:
Annuity contracts in
accumulation 7,168,376 37,551,947 (6,061,296)
<CAPTION>
Net
Increase (Decrease) Net Assets
in Net Assets ----------
from Unit Beginning End
PERIOD ENDED SEPTEMBER 30, 1999 Transactions of Period of Period
<S> <C> <C> <C>
INDEX 500 PORTFOLIO:
Annuity contracts in
accumulation $10,743,773 $93,352,318 $107,539,660
JANUS ASPEN SERIES:
AGGRESSIVE GROWTH PORTFOLIO:
Annuity contracts in
accumulation 166,046,649 292,229,082 596,821,170
BALANCED PORTFOLIO:
Annuity contracts in
accumulation 87,970,579 94,876,992 190,148,973
FLEXIBLE INCOME PORTFOLIO:
Annuity contracts in
accumulation (235,565) 32,501,248 31,810,450
GROWTH PORTFOLIO:
Annuity contracts in
accumulation 97,406,770 132,697,360 254,420,214
Annuity contracts in payment
period 235,492 469,462
WORLDWIDE GROWTH PORTFOLIO:
Annuity contracts in
accumulation 51,450,845 615,835,740 759,756,384
Annuity contracts in payment
period 365,972 440,192
LEXINGTON EMERGING MARKETS
FUND:
Annuity contracts in
accumulation 1,103,594 4,094,455 6,193,184
LEXINGTON NATURAL RESOURCES
TRUST FUND:
Annuity contracts in
accumulation (4,414,590) 19,741,327 16,808,554
MFS FUNDS:
TOTAL RETURN SERIES:
Annuity contracts in
accumulation 190,558 385,767 571,412
OPPENHEIMER FUNDS:
GLOBAL SECURITIES FUND:
Annuity contracts in
accumulation 2,101,660 976,121 3,301,746
STRATEGIC BOND FUND:
Annuity contracts in
accumulation 955,370 2,253,578 3,170,936
Annuity contracts in payment
period 3,521 28,450
PORTFOLIO PARTNERS, INC. (PPI):
PPI MFS EMERGING EQUITIES
PORTFOLIO:
Annuity contracts in
accumulation (29,794,664) 434,156,330 449,414,609
Annuity contracts in payment
period 27,431 29,198
PPI MFS RESEARCH GROWTH
PORTFOLIO:
Annuity contracts in
accumulation (28,637,916) 242,087,516 216,313,337
PPI MFS VALUE EQUITY
PORTFOLIO:
Annuity contracts in
accumulation 214,916 150,852,476 171,968,920
Annuity contracts in payment
period 0 30,401
PPI SCUDDER INTERNATIONAL GRO
Annuity contracts in
accumulation (17,432,189) 201,965,809 223,192,647
</TABLE>
S-100
<PAGE>
VARIABLE ANNUITY ACCOUNT C
NOTES TO FINANCIAL STATEMENTS - September 30, 2000 (Unaudited and continued):
6. SUPPLEMENTAL INFORMATION TO STATEMENTS OF CHANGES IN NET
ASSETS (continued):
<TABLE>
<CAPTION>
Net
Net Change in
Net Realized Unrealized
Investment Gain (Loss) Gain (Loss)
PERIOD ENDED SEPTEMBER 30, 1999 Income on Investments on Investments
<S> <C> <C> <C>
PPI T. ROWE PRICE GROWTH EQUITY PORTFOLIO:
Annuity contracts in
accumulation $3,452,501 $6,471,289 ($6,233,862)
Annuity contracts in payment
period
TOTAL VARIABLE ANNUITY ACCOUNT
C $336,099,660 $309,364,528 $62,009,112
<CAPTION>
Net
Increase (Decrease) Net Assets
in Net Assets ----------
from Unit Beginning End
PERIOD ENDED SEPTEMBER 30, 1999 Transactions of Period of Period
<S> <C> <C> <C>
PPI T. ROWE PRICE GROWTH EQUI
Annuity contracts in
accumulation ($10,041,888) $215,872,943 $209,523,170
Annuity contracts in payment
period 56,047 53,859
TOTAL VARIABLE ANNUITY ACCOUNT
C ($34,864,742) $12,426,365,277 $13,098,973,835
</TABLE>
S-101
<PAGE>
AETNA LIFE INSURANCE AND ANNUITY COMPANY AND SUBSIDIARIES
INDEX TO QUARTERLY CONSOLIDATED FINANCIAL STATEMENTS
<TABLE>
<CAPTION>
PAGE
--------
<S> <C>
Consolidated Financial Statements:
Consolidated Statements of Income for the Three-Month and
Nine-Month Periods Ended September 30, 2000 and 1999
(unaudited)............................................. F-34
Consolidated Balance Sheets as of September 30, 2000
(unaudited) and December 31, 1999....................... F-35
Consolidated Statements of Changes in Shareholder's Equity
for the Nine Month Periods Ended September 30, 2000 and
1999 (unaudited)........................................ F-36
Consolidated Statements of Cash Flows for the Nine Month
Periods Ended September 30, 2000 and 1999
(unaudited)............................................. F-37
Condensed Notes to Consolidated Financial Statements
(unaudited)............................................. F-38
</TABLE>
F-33
<PAGE>
AETNA LIFE INSURANCE AND ANNUITY COMPANY AND SUBSIDIARIES
(A WHOLLY OWNED SUBSIDIARY OF AETNA RETIREMENT HOLDINGS, INC.)
CONSOLIDATED STATEMENTS OF INCOME
(MILLIONS)
<TABLE>
<CAPTION>
THREE MONTHS
ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
------------------- -------------------
2000 1999 2000 1999
-------- -------- -------- --------
(UNAUDITED) (UNAUDITED)
<S> <C> <C> <C> <C>
Revenue:
Premiums............................................... $ 41.8 $ 44.2 $ 117.1 $ 86.6
Charges assessed against policyholders................. 119.9 98.6 351.0 283.1
Net investment income.................................. 231.9 230.6 681.5 668.8
Net realized capital losses............................ (11.2) (11.1) (23.1) (5.4)
Other income........................................... 44.0 20.1 117.5 82.5
------ ------ -------- --------
Total revenue............................................ 426.4 382.4 1,244.0 1,115.6
Benefits and expenses:
Current and future benefits............................ 199.8 201.8 598.3 564.0
Operating expenses:
Salaries and related benefits........................ 52.3 35.0 144.0 107.7
Other................................................ 60.1 54.0 166.4 155.1
Amortization of deferred policy acquisition costs...... 36.8 25.9 96.4 77.6
------ ------ -------- --------
Total benefits and expenses.............................. 349.0 316.7 1,005.1 904.4
------ ------ -------- --------
Income from continuing operations before income taxes.... 77.4 65.7 238.9 211.2
Income taxes........................................... 22.7 21.8 75.9 69.6
------ ------ -------- --------
Income from continuing operations........................ 54.7 43.9 163.0 141.6
Discontinued operations, net of tax:
Amortization of deferred gain on sale.................. 1.5 1.4 4.7 4.1
------ ------ -------- --------
Net income............................................... $ 56.2 $ 45.3 $ 167.7 $ 145.7
====== ====== ======== ========
</TABLE>
SEE CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.
F-34
<PAGE>
AETNA LIFE INSURANCE AND ANNUITY COMPANY AND SUBSIDIARIES
(A WHOLLY OWNED SUBSIDIARY OF AETNA RETIREMENT HOLDINGS, INC.)
CONSOLIDATED BALANCE SHEETS
(MILLIONS, EXCEPT SHARE DATA)
<TABLE>
<CAPTION>
SEPTEMBER 30, DECEMBER 31,
2000 1999
-------------- -------------
(UNAUDITED)
<S> <C> <C>
ASSETS
Investments:
Debt securities available for sale, at fair value
(amortized cost: $11,193.0 and $11,657.9)............... $11,075.8 $11,410.1
Equity securities, at fair value:
Nonredeemable preferred stock (cost: $107.9 and
$134.7)............................................... 101.0 130.9
Investment in affiliated mutual funds (cost: $13.0 and
$63.5)................................................ 18.7 64.1
Common stock (cost: $5.6 and $6.7)...................... 13.0 11.5
Short-term investments.................................... 81.5 74.2
Mortgage loans............................................ 4.6 6.7
Policy loans.............................................. 338.6 314.0
Other investments......................................... 13.5 13.2
--------- ---------
Total investments........................................... 11,646.7 12,024.7
Cash and cash equivalents................................. 987.3 694.4
Short-term investments under securities loan agreement.... 753.3 232.5
Accrued investment income................................. 148.7 150.7
Premiums due and other receivables........................ 97.3 298.3
Reinsurance recoverable................................... 3,003.4 3,001.2
Deferred income taxes..................................... 93.7 150.4
Deferred policy acquisition costs......................... 1,155.2 1,046.4
Other assets.............................................. 108.3 96.5
Separate Accounts assets.................................. 40,059.6 38,692.6
--------- ---------
Total assets................................................ $58,053.5 $56,387.7
========= =========
LIABILITIES AND SHAREHOLDER'S EQUITY
Liabilities:
Future policy benefits.................................... $ 3,938.2 $ 3,850.4
Unpaid claims and claim expenses.......................... 29.3 27.3
Policyholders' funds left with the Company................ 10,887.4 11,121.7
--------- ---------
Total insurance reserve liabilities......................... 14,854.9 14,999.4
Payables under securities loan agreement.................. 753.3 232.5
Current income taxes...................................... 13.3 14.7
Other liabilities......................................... 797.9 1,062.8
Separate Accounts liabilities............................. 40,059.6 38,692.6
--------- ---------
Total liabilities........................................... 56,479.0 55,002.0
========= =========
Shareholder's equity:
Common stock, par value $50 (100,000 shares authorized;
55,000 shares issued and outstanding)................... 2.8 2.8
Paid-in capital........................................... 431.9 431.9
Accumulated other comprehensive loss...................... (14.5) (44.8)
Retained earnings......................................... 1,154.3 995.8
--------- ---------
Total shareholder's equity.................................. 1,574.5 1,385.7
--------- ---------
Total liabilities and shareholder's equity.................. $58,053.5 $56,387.7
========= =========
</TABLE>
SEE CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.
F-35
<PAGE>
AETNA LIFE INSURANCE AND ANNUITY COMPANY AND SUBSIDIARIES
(A WHOLLY OWNED SUBSIDIARY OF AETNA RETIREMENT HOLDINGS, INC.)
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDER'S EQUITY
(MILLIONS)
<TABLE>
<CAPTION>
NINE MONTHS ENDED
SEPTEMBER 30,
-------------------------
2000 1999
----------- -----------
(UNAUDITED) (UNAUDITED)
<S> <C> <C>
Shareholder's equity, beginning of period................... $1,385.7 $1,394.5
Comprehensive income:
Net income................................................ 167.7 145.7
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on securities $46.6, (($200.5)
pretax) (1)........................................... 30.3 (130.3)
-------- --------
Total comprehensive income.................................. 198.0 15.4
-------- --------
Other changes............................................... 0.9 0.5
Common stock dividends...................................... (10.1) (29.8)
-------- --------
Shareholder's equity, end of period......................... $1,574.5 $1,380.6
======== ========
</TABLE>
(1) Net of reclassification adjustments.
SEE CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.
F-36
<PAGE>
AETNA LIFE INSURANCE AND ANNUITY COMPANY AND SUBSIDIARIES
(A WHOLLY OWNED SUBSIDIARY OF AETNA RETIREMENT HOLDINGS, INC.)
CONSOLIDATED STATEMENTS OF CASH FLOWS
(MILLIONS)
<TABLE>
<CAPTION>
NINE MONTHS ENDED
SEPTEMBER 30,
-------------------------
2000 1999
----------- -----------
(UNAUDITED) (UNAUDITED)
<S> <C> <C>
Cash Flows from Operating Activities:
Net income................................................ $ 167.7 $ 145.7
Adjustments to reconcile net income to net cash provided
by (used for) operating activities:
Net accretion of discount on investments................ (25.2) (20.6)
Amortization of deferred gain on sale................... (4.7) (4.1)
Net realized capital losses............................. 23.1 5.4
Changes in assets and liabilities:
Decrease (increase) in accrued investment income...... 2.0 (11.4)
Decrease in premiums due and other receivables........ 13.2 31.6
Increase in policy loans.............................. (24.6) (16.7)
Increase in deferred policy acquisition costs......... (108.8) (114.7)
Increase (decrease) in universal life account
balances............................................ 21.0 (220.5)
Increase in other insurance reserve liabilities....... 84.6 232.1
Net (decrease) in other liabilities and other
assets.............................................. (69.0) (75.5)
Increase (decrease) in income taxes................... 36.6 (280.1)
--------- ---------
Net cash provided by (used for) operating activities........ 115.9 (328.8)
--------- ---------
Cash Flows from Investing Activities:
Proceeds from sales of:
Debt securities available for sale.................... 9,074.5 4,017.1
Equity securities..................................... 107.4 89.9
Mortgage loans........................................ 2.1 2.3
Investment maturities and collections of:
Debt securities available for sale.................... 488.0 995.2
Short-term investments................................ 57.2 60.6
Cost of investment purchases in:
Debt securities available for sale.................... (9,128.6) (4,805.5)
Equity securities..................................... (16.5) (9.4)
Short-term investments................................ (89.9) (68.4)
Decrease in property and equipment...................... 2.9 7.6
Other, net.............................................. (4.6) 6.2
--------- ---------
Net cash provided by investing activities................... 492.5 295.6
--------- ---------
Cash Flows from Financing Activities:
Deposits and interest credited for investment
contracts............................................. 1,275.1 1,576.5
Withdrawals of investment contracts..................... (1,606.9) (1,308.4)
Dividends paid to shareholder........................... (10.1) (235.8)
Other, net.............................................. 24.4 170.4
--------- ---------
Net cash (used for) provided by financing activities........ (317.5) 202.7
--------- ---------
Net increase in cash and cash equivalents................... 290.9 169.5
Effect of exchange rate changes on cash and cash
equivalents............................................... 2.0 --
Cash and cash equivalents, beginning of period.............. 694.4 629.4
--------- ---------
Cash and cash equivalents, end of period.................... $ 987.3 $ 798.9
========= =========
Supplemental cash flow information:
Income taxes paid, net.................................. $ 39.4 $ 315.6
========= =========
</TABLE>
SEE CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.
F-37
<PAGE>
AETNA LIFE INSURANCE AND ANNUITY COMPANY AND SUBSIDIARIES
(A WHOLLY OWNED SUBSIDIARY OF AETNA RETIREMENT HOLDINGS, INC.)
CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(UNAUDITED)
(1) BASIS OF PRESENTATION
The consolidated financial statements include Aetna Life Insurance and
Annuity Company ("ALIAC") and its wholly owned subsidiaries, Aetna Insurance
Company of America ("AICA"), Aetna Investment Adviser Holding Company, Inc.
("IA Holdco") and Aetna Investment Services, Inc. (collectively, the "Company").
ALIAC is a wholly owned subsidiary of Aetna Retirement Holdings, Inc.
("HOLDCO"). HOLDCO is a wholly owned subsidiary of Aetna Retirement
Services, Inc., whose ultimate parent is Aetna Inc. ("Aetna"). On June 30, 2000
HOLDCO contributed Aetna Investment Services, Inc. ("AISI") to the Company.
(Refer to note 2). The Company has two business segments: Financial Products and
Investment Management Services. On October 1, 1998, the Company sold its
individual life insurance business to Lincoln National Corporation ("Lincoln")
and accordingly, it is now classified as Discontinued Operations.
These consolidated financial statements have been prepared in accordance
with generally accepted accounting principles and are unaudited. The
contribution of IA Holdco to the Company, which occurred on July 1, 1999, and
the contribution of AISI to the Company were each accounted for in a manner
similar to that of a pooling-of-interests and, accordingly, the Company's
historical consolidated financial statements have been restated to include the
accounts and results of operations of IA Holdco and AISI. Certain
reclassifications have been made to 1999 financial information to conform to the
2000 presentation. These interim statements necessarily rely heavily on
estimates, including assumptions as to annualized tax rates. In the opinion of
management, all adjustments necessary for a fair statement of results for the
interim periods have been made. All such adjustments are of a normal, recurring
nature. The accompanying condensed consolidated financial statements should be
read in conjunction with the consolidated financial statements and related notes
as presented in ALIAC's 1999 Annual Report on Form 10-K. Certain financial
information that is normally included in annual financial statements prepared in
accordance with generally accepted accounting principles, but that is not
required for interim reporting purposes, has been condensed or omitted.
(2) CONTRIBUTION OF AISI FROM HOLDCO
On June 30, 2000, HOLDCO contributed AISI to the Company. AISI is registered
with the Securities Exchange Commission as a broker/dealer and is a member of
the National Association of Securities Dealers, Inc. It is also registered with
the appropriate state securities authorities as a broker/ dealer. The principal
operation of AISI is the sale of fixed and variable annuities and mutual funds
through its registered representatives.
(3) RECENT DEVELOPMENTS
AGREEMENT TO SELL AETNA FINANCIAL SERVICES AND AETNA INTERNATIONAL
On July 20, 2000, Aetna Inc. ("Aetna"), the ultimate parent of the Company,
announced that it reached a definitive agreement to sell its Aetna Financial
Services and Aetna International businesses to ING Groep N.V. ("ING") in a
transaction valued at approximately $7.7 billion. The Company is part of the
Aetna Financial Services business and will be included in the sale to ING. Under
the terms of the agreement, in two effectively simultaneous steps: (1) Aetna
will spin off to its shareholders the shares of a standalone health company that
will be comprised primarily of its Aetna U.S. Healthcare
F-38
<PAGE>
AETNA LIFE INSURANCE AND ANNUITY COMPANY AND SUBSIDIARIES
(A WHOLLY OWNED SUBSIDIARY OF AETNA RETIREMENT HOLDINGS, INC.)
CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
(UNAUDITED)
(3) RECENT DEVELOPMENTS (CONTINUED)
and Large Case Pensions businesses; and (2) Aetna, which then will be comprised
of Aetna Financial Services and Aetna International, will merge with a newly
formed subsidiary of ING.
Aetna's goal is to close the transaction, which is subject to receipt of
required shareholder, regulatory and other consents and approvals, as well as
other closing conditions, by year-end 2000. An Aetna shareholders' meeting has
been scheduled for November 30, 2000 to consider the transaction and certain
other matters. The full impact of the sale to ING on the Company's financial
position and results of operations cannot be determined at this time.
(4) NEW ACCOUNTING STANDARD
On January 1, 2000, the Company adopted Statement of Position 98-7, Deposit
Accounting: Accounting for Insurance and Reinsurance Contracts That Do Not
Transfer Insurance Risk, issued by the American Institute of Certified Public
Accountants. This statement provides guidance on how to account for all
insurance and reinsurance contracts that do not transfer insurance risk, except
for long-duration life and health insurance contracts. The adoption of this
standard had no impact on the Company's financial position or results of
operations.
(5) FUTURE ACCOUNTING STANDARD
In September 2000, the Financial Accounting Standards Board ("FASB") issued
Financial Accounting Standard ("FAS") No. 140, Accounting for Transfers and
Servicing of Financial Assets and Extinguishments of Liabilities which replaces
FAS No. 125, Accounting for Transfers and Services of Financial Assets and
Extinguishments of Liabilities. This standard revises the methods for accounting
for securitizations and other transfers of financial assets and collateral as
outlined in FAS No. 125, and requires certain additional disclosures. For
transfers and servicing of financial assets and extinguishments of liabilities,
this standard will be effective for the Company's June 30, 2001 financial
statements. However, for disclosures regarding securitizations and collateral,
as well as recognition and reclassification of collateral, this standard will be
effective for the Company's December 31, 2000 financial statements. The Company
is currently evaluating the impact of the adoption of this standard, however it
does not expect the adoption of this standard to have a material effect on its
financial position or results of operations.
In June 1998, the FASB issued FAS No. 133, Accounting for Derivative
Instruments and Hedging Activities. In June 2000, further guidance related to
accounting for derivative instruments and hedging activities was provided when
the FASB issued FAS No. 138, Accounting for Certain Derivative Instruments and
Certain Hedging Activities -- an Amendment of FASB Statement No. 133. This
standard, as amended, requires companies to record all derivatives on the
balance sheet as either assets or liabilities and measure those instruments at
fair value. The manner in which companies are to record gains or losses
resulting from changes in the values of those derivatives depends on the use of
the derivative and whether it qualifies for hedge accounting. As amended by
FAS No. 137, Accounting for Derivative Instruments and Hedging Activities --
Deferral of the Effective Date of FASB Statement No. 133, this standard is
effective for the Company's financial statements beginning January 1, 2001, with
early adoption permitted. The impact of FAS No. 133, as amended, on the
Company's financial statements will vary based on certain factors including
future interpretive guidance from the FASB, the
F-39
<PAGE>
AETNA LIFE INSURANCE AND ANNUITY COMPANY AND SUBSIDIARIES
(A WHOLLY OWNED SUBSIDIARY OF AETNA RETIREMENT HOLDINGS, INC.)
CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
(UNAUDITED)
(5) FUTURE ACCOUNTING STANDARD (CONTINUED)
extent of the Company's hedging activities, the types of hedging instruments
used and the effectiveness of such instruments. The Company is evaluating the
impact of the adoption of this standard, as amended, and currently does not
believe that it will have a material effect on the Company's financial position
or results of operations.
(6) ADDITIONAL INFORMATION -- ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Changes in accumulated other comprehensive income (loss) related to changes
in unrealized gains (losses) on securities (excluding those related to
experience-rated contractholders) were as follows:
<TABLE>
<CAPTION>
NINE MONTHS ENDED SEPTEMBER 30,
---------------------------------------
(MILLIONS) 2000 1999
<S> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------
Unrealized holding gains (losses) arising during the
period (1)................................................ $31.7 $(120.4)
Less: reclassification adjustments for accretion of net
investment discounts and gains included in net
income (2)............................................... 1.4 9.9
-----------------------------------------------------------------------------------------------------
Net unrealized gains (losses) on securities................ $30.3 $(130.3)
=====================================================================================================
</TABLE>
(1) Pretax unrealized holding gains (losses) arising during the period were
$48.7 million and $(185.3) million for the nine months ended September 30,
2000 and September 30, 1999, respectively.
(2) Pretax reclassification adjustments for accretion of net investment
discounts and gains included in net income for the period were $2.1 million
and $15.2 million for the nine months ended September 30, 2000 and
September 30, 1999, respectively.
F-40
<PAGE>
AETNA LIFE INSURANCE AND ANNUITY COMPANY AND SUBSIDIARIES
(A WHOLLY OWNED SUBSIDIARY OF AETNA RETIREMENT HOLDINGS, INC.)
CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
(UNAUDITED)
(7) SEGMENT INFORMATION
Summarized financial information for the Company's principal operations for
the three months ended September 30, was as follows:
<TABLE>
<CAPTION>
INVESTMENT
FINANCIAL MANAGEMENT DISCONTINUED
(MILLIONS) PRODUCTS (1) SERVICES (1) OPERATIONS (1) OTHER (1) TOTAL
<S> <C> <C> <C> <C> <C> <C>
---------------------------------------------------------------------------------------------------------------------------------
2000
Revenues from external customers............. $ 182.4 $36.4 $ -- $(13.1) $ 205.7
Net investment income........................ 230.0 0.9 -- 1.0 231.9
---------------------------------------------------------------------------------------------------------------------------------
Total revenue excluding net realized capital
losses...................................... $ 412.4 $37.3 $ -- $(12.1) $ 437.6
=================================================================================================================================
Operating earnings (2)....................... $ 55.0 $ 9.2 $ -- $ (2.2) $ 62.0
Net realized capital losses, net of tax...... (7.3) -- -- -- (7.3)
---------------------------------------------------------------------------------------------------------------------------------
Income (loss) from continuing operations..... 47.7 9.2 -- (2.2) 54.7
Discontinued operations, net of tax:
Amortization of deferred gain on sale..... -- -- 1.5 -- 1.5
---------------------------------------------------------------------------------------------------------------------------------
Net income (loss)............................ $ 47.7 $ 9.2 $1.5 $ (2.2) $ 56.2
=================================================================================================================================
1999
Revenues from external customers............. $ 144.1 $29.8 $ -- $(11.0) $ 162.9
Net investment income........................ 229.3 0.4 -- 0.9 230.6
---------------------------------------------------------------------------------------------------------------------------------
Total revenue excluding net realized capital
losses...................................... $ 373.4 $30.2 $ -- $(10.1) $ 393.5
=================================================================================================================================
Operating earnings (2)....................... $ 47.9 $ 7.5 $ -- $ (4.3) $ 51.1
Net realized capital losses, net of tax...... (7.2) -- -- -- (7.2)
---------------------------------------------------------------------------------------------------------------------------------
Income (loss) from continuing operations..... 40.7 7.5 -- (4.3) 43.9
Discontinued operations, net of tax:
Amortization of deferred gain on sale..... -- -- 1.4 -- 1.4
---------------------------------------------------------------------------------------------------------------------------------
Net income (loss)............................ $ 40.7 $ 7.5 $1.4 $ (4.3) $ 45.3
=================================================================================================================================
</TABLE>
(1) Financial Products include: deferred and immediate annuity contracts; mutual
funds; distribution services for annuities and mutual funds and programs
offered to qualified plans and nonqualified deferred compensation plans that
package administrative and recordkeeping services along with a menu of
investment options, investment advisory services and pension plan
administrative services. Investment Management Services include the
following services: investment advisory services to affiliated and
unaffiliated institutional and retail clients; underwriting; distribution
for Company mutual funds and an affiliate's separate accounts; and trustee,
administrative and other services to retirement plans. Discontinued
Operations include life insurance products. Other includes consolidating
adjustments and Year 2000 costs of $2.6 million in 1999.
(2) Operating earnings is comprised of net income (loss) excluding net realized
capital gains and losses. While operating earnings is the measure of profit
or loss used by the Company's management when assessing performance or
making operating decisions, it does not replace operating income or net
income as a measure of profitability.
F-41
<PAGE>
AETNA LIFE INSURANCE AND ANNUITY COMPANY AND SUBSIDIARIES
(A WHOLLY OWNED SUBSIDIARY OF AETNA RETIREMENT HOLDINGS, INC.)
CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
(UNAUDITED)
(7) SEGMENT INFORMATION (CONTINUED)
Summarized financial information for the Company's principal operations for
the nine months ended September 30, was as follows:
<TABLE>
<CAPTION>
INVESTMENT
FINANCIAL MANAGEMENT DISCONTINUED
(MILLIONS) PRODUCTS (1) SERVICES (1) OPERATIONS (1) OTHER (1) TOTAL
<S> <C> <C> <C> <C> <C> <C>
---------------------------------------------------------------------------------------------------------------------------------
2000
Revenues from external customers............. $ 519.6 $104.2 $ -- $(38.2) $ 585.6
Net investment income........................ 676.4 2.1 -- 3.0 681.5
---------------------------------------------------------------------------------------------------------------------------------
Total revenue excluding net realized capital
(losses) gains............................ $1,196.0 $106.3 $ -- $(35.2) $1,267.1
=================================================================================================================================
Operating earnings (2)....................... $ 158.1 $ 25.7 $ -- $ (5.8) $ 178.0
Net realized capital (losses) gains, net of
tax......................................... (15.1) 0.1 -- -- (15.0)
---------------------------------------------------------------------------------------------------------------------------------
Income (loss) from continuing operations..... 143.0 25.8 -- (5.8) 163.0
Discontinued operations, net of tax:
Amortization of deferred gain on sale..... -- -- 4.7 -- 4.7
---------------------------------------------------------------------------------------------------------------------------------
Net income (loss)............................ $ 143.0 $ 25.8 $4.7 $ (5.8) $ 167.7
=================================================================================================================================
1999
Revenues from external customers............. $ 399.1 $ 86.4 $ -- $(33.3) $ 452.2
Net investment income........................ 665.2 1.0 -- 2.6 668.8
---------------------------------------------------------------------------------------------------------------------------------
Total revenue excluding net realized capital
losses...................................... $1,064.3 $ 87.4 $ -- $(30.7) $1,121.0
=================================================================================================================================
Operating earnings (2)....................... $ 142.6 $ 21.1 $ -- $(18.6) $ 145.1
Net realized capital losses, net of tax...... (3.5) -- -- -- (3.5)
---------------------------------------------------------------------------------------------------------------------------------
Income from continuing operations............ 139.1 21.1 -- (18.6) 141.6
Discontinued operations, net of tax:
Amortization of deferred gain on sale..... -- -- 4.1 -- 4.1
---------------------------------------------------------------------------------------------------------------------------------
Net income (loss)............................ $ 139.1 $ 21.1 $4.1 $(18.6) $ 145.7
=================================================================================================================================
</TABLE>
(1) Financial Products include: deferred and immediate annuity contracts; mutual
funds; distribution services for annuities and mutual funds and programs
offered to qualified plans and nonqualified deferred compensation plans that
package administrative and recordkeeping services along with a menu of
investment options, investment advisory services and pension plan
administrative services. Investment Management Services include the
following services: investment advisory services to affiliated and
unaffiliated institutional and retail clients; underwriting; distribution
for Company mutual funds and an affiliate's separate accounts; and trustee,
administrative and other services to retirement plans. Discontinued
Operations include life insurance products. Other includes consolidating
adjustments and Year 2000 costs of $13.0 million in 1999.
(2) Operating earnings is comprised of net income (loss) excluding net realized
capital gains and losses. While operating earnings is the measure of profit
or loss used by the Company's management when assessing performance or
making operating decisions, it does not replace operating income or net
income as a measure of profitability.
F-42
<PAGE>
AETNA LIFE INSURANCE AND ANNUITY COMPANY AND SUBSIDIARIES
(A WHOLLY OWNED SUBSIDIARY OF AETNA RETIREMENT HOLDINGS, INC.)
CONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
(UNAUDITED)
(8) COMMITMENTS AND CONTINGENT LIABILITIES
COMMITMENTS
Through the normal course of investment operations, the Company commits to
either purchase or sell securities or money market instruments at a specified
future date and at a specified price or yield. The inability of counterparties
to honor these commitments may result in either higher or lower replacement
cost. Also, there is likely to be a change in the value of the securities
underlying the commitments between the time that the Company enters into the
commitments and the specified future date on which the Company must purchase or
sell the securities, as the case may be. As of September 30, 2000, there were no
such off-balance sheet commitments.
LITIGATION
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 has been 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 ALIAC
(the "Shaner Complaint"). This case was removed to the United States District
Court for the Northern District of Alabama. The Shaner Complaint sought
unspecified compensatory damages from ALIAC and unnamed affiliates of ALIAC. The
Shaner Complaint claimed that ALIAC's sale of deferred annuity products for use
as investments in tax-deferred contributory retirement plans (e.g., IRAs) was
improper. On August 31, 2000, the Court entered an order and judgement
dismissing the case. The case has been refiled as an individual action in the
Alabama state court.
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 ALIAC (the "Reese
Complaint"). The Reese Complaint seeks compensatory and punitive damages and
injunctive relief from ALIAC. The Reese Complaint claims that ALIAC engaged in
unlawful sales practices in marketing life insurance policies. ALIAC has moved
to dismiss the Reese Complaint for failure to state a claim upon which relief
can be granted. This litigation is in the preliminary stages. The Company
intends to defend the action vigorously.
The Company is also involved in numerous other lawsuits arising, for the
most part, in the ordinary course of its business operations. While the outcome
of the litigation against the Company referred to in this paragraph cannot be
determined at this time, after consideration of the defenses available to the
Company, applicable insurance coverage and any related reserves established, the
litigation referred to in this paragraph is not expected to result in liability
for amounts material to the financial condition of the Company, although it may
adversely affect results of operations in future periods.
(9) DIVIDENDS
During 2000, the Company paid $10.1 million in dividends to HOLDCO, which
did not require approval from the Insurance Commissioner of the State of
Connecticut.
F-43
X.89953-00 December 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) Included in Part B:
Financial Statements of Variable Annuity Account C:
- Statements 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
- Unaudited Statement of Assets and Liabilities as of
September 30, 2000
- Unaudited Statement of Operations for the nine-month period
ended September 30, 2000
- Unaudited Statements of Changes in Net Assets for the
nine-month periods ended September 30, 2000 and
September 30, 1999
- Notes to Financial Statements
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
- Unaudited Consolidated Balance Sheets as of September 30, 2000
- Unaudited Consolidated Statements of Income for the nine-month
period ended September 30, 2000
- Unaudited Consolidated Statements of changes in Shareholder's
Equity for the nine-month period ended September 30, 2000
- Unaudited Consolidated Statements of Cash Flows for the
nine-month period ended September 30, 2000
(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)
<PAGE>
(3.3) Broker-Dealer Agreement dated June 7, 2000 between Aetna Life
Insurance and Annuity Company and Aetna Investment Services,
Inc. (AISI) and Letter of Assignment to AISI(4)
(3.4) Underwriting Agreement dated November 17, 2000 between Aetna
Life Insurance and Annuity Company and Aetna Investment
Services, LLC(4)
(4.1) Variable Annuity Contract (G-401-IB(X/M))(5)
(4.2) Variable Annuity Contract (G-CDA-IB(XC/SM))(5)
(4.3) Endorsement (EGET-IC(R)) to Contracts G-401-IB(X/M) and
G-CDA-IB(XC/SM)(3)
(4.4) Endorsement (ESUNYSDO97) to Contracts G-CDA-IB(XC/SM) and
G-401-IB(X/M)(6)
(4.5) Form of Endorsement (ESUNY401-01) to Contract G-401-IB(X/M) and
Certificate GC401-IB(X/M)
(5) Variable Annuity Contract Application (300-MOP-IB)(7)
(6.1) Certificate of Incorporation of Aetna Life Insurance and
Annuity Company(8)
(6.2) Amendment of Certificate of Incorporation of Aetna Life
Insurance and Annuity Company(9)
(6.3) By-Laws as amended September 17, 1997 of Aetna Life Insurance
and Annuity Company(10)
(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(11)
(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
Portfolio, 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(12)
(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,
<PAGE>
Inc., on behalf of each of its series, Aetna Variable
Portfolio, Inc., on behalf of each of its series, and Aeltus
Investment Management, Inc., dated as of May 1, 1998, amended
on November 9, 1998 and December 31, 1999(13)
(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(13)
(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(11)
(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 sales 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
Portfolio, Inc. on behalf of each of its series, and Aeltus
Investment Management, Inc., dated as of May 1, 1998 and
amended on November 4, 1998(13)
(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 4, 1998 and February 11, 2000(14)
(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 (15)
(8.11) Service Agreement between Calvert Asset Management Company,
Inc. and Aetna Life Insurance and Annuity Company dated
December 1, 1997 (15)
<PAGE>
(8.12) Fund Participation Agreement between Aetna Life Insurance and
Annuity Company, Variable Insurance Products Fund and Fidelity
Distributors Corporation dated February 1, 1994 and amended on
December 15, 1994, February 1, 1995, May 1, 1995,
January 1, 1996 and March 1, 1996 (9)
(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 (16)
(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 (17)
(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 (12)
(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 (9)
(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 (16)
(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 (18)
(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)
<PAGE>
(8.21) Eighth Amendment dated December 1, 1999 to 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, January 20, 1998
and May 1, 1998 (12)
(8.22) Service Agreement between Aetna Life Insurance and Annuity
Company and Fidelity Investments Institutional Operations
Company dated as of November 1, 1995 (19)
(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 (16)
(8.24) Service Contract between Fidelity Distributors Corporation and
Aetna Life Insurance and Annuity Company dated May 2, 1997 (11)
(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 dated December 8, 1997 (11)
(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 (21)
(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, 1998 and
December 1, 1999(22)
(8.29) Service Agreement between Janus Capital Corporation and Aetna
Life Insurance and Annuity Company dated December 8, 1997 (20)
(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 dated April 28, 1994 (23)
(8.34) Fund Participation Agreement among MFS Variable Insurance
Trust, Aetna Life Insurance and Annuity Company and
Massachusetts Financial Services Company
<PAGE>
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 (24)
(8.36) Fifth Amendment dated May 1, 1998 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 (25)
(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
Service Company dated April 30, 1996, and amended on
September 3, 1996, March 14, 1997, November 28, 1997 and
May 1, 1998 (26)
(8.38) Sixth Amendment dated November 17, 2000 between Aetna Life
Insurance and Annuity Company, MFS Variable Insurance Trust
and Massachusetts Financial Services Company dated
April 30, 1996, as amended on September 3, 1996,
March 14, 1997, November 28, 1997, May 1, 1998 and
July 1, 1999 (4)
(8.39) Fund Participation Agreement dated March 11, 1997 between Aetna
Life Insurance and Annuity Company and Oppenheimer Variable
Annuity Account Funds and Oppenheimer Funds, Inc.(27)
(8.40) 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 (12)
(8.41) Service Agreement effective as of March 11, 1997 between
Oppenheimer Funds, Inc. and Aetna Life Insurance and Annuity
Company (27)
(9) Opinion and Consent of Counsel
(10) Consent of Independent Auditors
(11) Not applicable
(12) Not applicable
(13) Schedule for Computation of Performance Data(28)
(14.1) Powers of Attorney
(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.
<PAGE>
4. Incorporated by reference to Pre-Effective Amendment No. 1 to Registration
Statement on Form N-4 (File No. 333-49176), as filed on November 30, 2000.
5. Incorporated by reference to Post-Effective Amendment No. 3 to Registration
Statement on Form N-4 (File No. 33-81216), as filed on April 17, 1996.
6. Incorporated by reference to Post-Effective Amendment No. 7 to Registration
Statement on Form N-4 (File No. 33-81216), as filed on February 12, 1997.
7. Incorporated by reference to Post-Effective Amendment No. 13 to
Registration Statement on Form N-4 (File No. 33-91846), as filed on
April 13, 1998.
8. 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.
9. 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.
10. 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.
11. 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.
12. 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.
13. 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.
14. 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.
15. 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.
16. 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.
17. 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.
18. 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.
19. 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.
20. 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.
21. 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.
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. 22 to
Registration Statement on Form N-4 (File No. 33-34370), as filed on
April 22, 1996.
24. 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.
<PAGE>
25. 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.
26. 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.
27. 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.
28. Incorporated by reference to Post-Effective Amendment No. 11 to
Registration Statement on Form N-4 (File No. 33-81216), as filed on
April 15, 1998.
<PAGE>
ITEM 25. DIRECTORS AND OFFICERS OF THE DEPOSITOR
NAME AND PRINCIPAL
BUSINESS ADDRESS* POSITIONS AND OFFICES WITH DEPOSITOR
Thomas J. McInerney** Director and President
Wayne R. Huneke*** Director
Phillip R. Lowery*** Director
Robert C. Salipante**** Director
Mark A. Tullis*** Director
Michael W. Cunningham** Senior Vice President and Chief Financial
Officer
Mary Ellen Thibodeau** Corporate Secretary
Deborah Koltenuk** Vice President and Corporate Controller
Brian Murphy** Vice President and Chief Compliance Officer
* These individuals may also be directors and/or officers of other
affiliates of the Company.
** The principal business address of these directors and officers is
151 Farmington Avenue, Hartford, Connecticut 06156.
*** The address of these Directors and Officers is 5780 Powers Ferry Road,
NW, Atlanta Georgia 30327-4390.
**** The address of this Director is 20 Washington Avenue South,
Minneapolis, Minnesota 55401.
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.
ING GROEP, N.V.
BHF-Bank AG
BHF Securities Corporation
ING Bank N.V.
Alegron Belegging B.V.
ING Bank Ukraine
ING Baring Securities (Romania) S.A.
Amsterdam Exchanges N.V.
Argencontrol
Artolis B.V.
Assurantiebedrijf ING Bank N.V.
Assurantiekantdoor Honig & Hageman BV
Noordster V.O.F.
Volmachtbedrijf ING Bank B.V.
Atlas Investeringsgroep N.V.
Atlas Investors Partnership III C.V.
B.V. Gemeenschappelijk Bezit Aandelen Necigef
Bank Brussels Lambert S.A.
ING Bank (Belgium) N.V./S.A.
Bancard Company S.A.
Cooperation Liquidation Terme Bourse S.C.
Europay Belgium S.C.
Institut De Reescompte S.C.
Societe Belge D' Investissement International S.C.
Society for Worldwide Interbank Financial Telecommunication S.C.
Visa Belgium SC
Bank Mendes Gans NV
B.V. Deelnemings En Financieringsmaatschappij "Nova Zembla"
B.V. Trust En Administratiekantoor Van Bank Mendes Gans N.V.
Bank Mendes Gans Effectenbewaarbedrijf N.V.
Brenko B.V.
Cabel B.V.
Handamar N.V.
Handamar Corporation
Intervest B.V.
Intervest PPM B.V.
Bank Slaski S.A. W Katowicach
*Rodkowoeropejskie Centrum Ratingu I Analiz S.A.
Bankowe Przedsi*Biorstwo Telekom. Telebank S.A.
BSK Konsulting SP Z.O.O.
BSK Leasing S.A.
Centralna Tabela Ofert S.A.
<PAGE>
Dom Maklerski BSK S.A.
Gie*Da Papierow Warto*Clowych S.A.
ING BSK Asset Management S.A.
Krajowa Izba Rozliczeniowa S.A.
Biuro Informacji Kredytowe S.A.
Mi*Dzvnarodowa Szko*A Bankowo*Ci I Finansow SP Z.O.O.
Society for Worldwide Interbank Financial Telecommunication S.C.
Banque Baring Brothers (Suisse) S.A.
Benelux Investment Fund B.V.
Berliner Handels - Und Frankfurter Bank A.G.
Buenos Aires Equity Investments N.V.
Emprendimiento Recoleta S.A. (ERSA)
BPEP Holdings Limited
Baring Asia (GP) Limited
Baring European Fund Managers Limited
Baring Latin America GP Limited
Baring Latin America Partners Limited
Baring Private Equity Partners (Asia) PTE. Limited
Baring Private Equity Partners (China) Limited
ING Barings Private Equity (China) Limited
ING BPE (China) Advisers Limited
Baring Private Equity Partners (India) Limited
Baring Private Equity Partners GMBH
Baring Private Equity Partners Limited
Baring Venture Partners GMBH
Baring Venture Partners S.A
BHB Management Limited
BPEP General Partner I Limited
BPEP General Partner II Limited
BPEP Management (UK) Limited
BPEP Nominees Limited
Quartz Capital Partners Limited
Transtech Limited
BCEE Advisers Limited
BCEF Advisers Limited
BHR Management Limited
BI Advisers Limited
Blac Holdings Inc.
Blac Corp. Incorperated
BPEP Management Limited
Baring Mexico (GP) Limited
Baring Private Equity Partners Espana S.A.
Baring Private Equity Partners Mexico S.C.
BVP Mexico S.A.
Cavendish Nominees Limited
BPEP Participations Limited
Baring Vostok Capital Partners Limited
Baring Vostok Fund Managers Limited
ESD Managers Limited
Easdaq S.A.
International Private Equity Services Limited
Polytechnos Venture Partners GMBH
BVP Holdings Limited
Baring Capricorn Ventures Limited
Baring Communications Equity Limited
BCEA Advisers Limited
BCEA Management PTE. Limited
<PAGE>
Capricorn Venture Fund N.V.
Procuritas Partners KB
PAB Partner AB
BVP Management Limited
Capricorn Venture Partners N.V.
Czech Venture Partners S.R.O.
CI European Limited
SCGF Advisers Limited
BV Maatschappij Van Onroerende Goederen 'Het Middenstandshuis B'
BV Maatschappij Van Onroerende Goederen 'Het Middenstandshuis'
Amsterdamse Poort III B.V.
Bijlmerplein Leasing BV
Foppingadreef Leasing B.V.
BV Maatschappij Van Onroerende Goederen 'Het Middenstandshuis A'
BV Maatschappij Van Onroerende Goederen 'Het Middenstandshuis C'
Grondpoort III B.V.
C.V. Exploitatiemaatschappij Tunnel Onder De Noord
Cardona B.V.
Cedel International S.A.
Centrum Cocarde B.V.
Cene Bankiers N.V.
Administratie & Trustkantoor Beleggingsfonds Protestants Nederland BV
Amsterdam Exchanges N.V.
Arma Beheer B.V.
Beheer Administratie en Beleggingsmaatschappij Kant B.V.
Bewaarbedrijf Cene Bankiers B.V.
BV Algemene Beleggingsmaatschappij Cene Bankiers N.V.
Beheermaatschappij Jansen Groenekan B.V.
Copar B.V.
Fidele Management B.V.
Flexibel Beheer Utrecht B.V.
Hercules Beheer B.V.
Langosta B.V.
Mercurius Beheer B.V.
Nivo Investments B.V.
Remazon B.V.
Cene Bankiers Holdings N.V.
Cene Asset Management N.V.
Cene Management N.V.
Tawny Owl Investment Company N.V.
Cene Verzekeringen B.V.
N.V. Instituut Voor Ziekenhuisfinanciering
Utrechtse Participatiemaatschappij B.V.
Cofiton B.V.
Sterling Developments B.V.
Brooks Equities Inc.
Location 3 Ltd.
SDC Properties Inc.
Tripolis Vastgoed B.V.
Tripolis A C.V.
Tripolis B C.V.
Tripolis C C.V.
Combdring B.V.
Compensadora Electronica S.A.
Computer Centrum Twente B.V.
Corporacion Financiera ING (Colombia) S.A.
Credit Commercial De France S.A.
<PAGE>
Depositary Company ING Bank B.V.
Destara B.V.
ING Bank Ukraine
ING Baring Securities (Romania) S.A.
Effectenbeursvennootschap Van Brussel C.V.
Effectenbewaarbedrijf ING Bank N.V.
Euroclear Clearance System Public Limited Company
European Investment Fund (Center 757)
European Investment Fund (Center 920)
Extra Clearing B.V.
Amsterdam Exchanges N.V.
Extra Clearing GMBH
YVOF Floorbrokers B.V.
Easdaq S.A.
Financial Advisory & Consultancy Services B.V.
Owen Stanley Financial S.A.
Financial Facilities Management B.V.
Finemij B.V.
Gabela Belegging B.V.
Hamgia Beheer B.V.
ING Bank Urkraine
ING Baring Securities (Romania)S.A.
Ingvest III B.V.
Institucion Financiera Externa Middenbank Curacao N.V. (Uruguay)
Interbank On-Line System Limited
International Bankers S.A.
Interpay Nederland B.V.
Interunion Bank (Antilles) N.V.
Interadvies N.V.
Administratiekantoor De Leuve BV
Crediet Service Bank B.V.
Incassobureau Fiditon BV
NV Nationale Volksbank
Arenda B.V.
Spaarfondsen Beheer B.V.
Spaarfondsen Bewaar B.V.
Welvaert Financieringen NV
Welstand B.V.
Internationale Nederlanden (U.S.) Funding Corporation
ING (U.S.) Financial Holdings Corporation
ING (U.S.) Capital Financial Holdings LLC
ING (U.S.) Capital LLC
ING (U.S.) Capital Management Company LLC
ING (U.S.) Investment Corporation
Alliance Precision Plastics Corporation
Nitrogen Products, Inc.
ING Furman Selz Asset Management LLC
FSIP LLC
Taurus Partners, L.P.
The Corner Fund, L.P.
Fairway Capital Partners, L.P.
Anvers, L.P.
Anvers II, L.P.
Artemis Partners, L.P.
Furman Selz Capital Management LLC
Delta Asset Management
NorthStar Asset Management
<PAGE>
ING Capital Advisors, LLC
ING Capital Advisors Portfolio Management Corp.
ING Capital Senior Secured High Income Fund, L.P.
ING Emerging Markets Investors LLC
ING Emerging Partners L.P.
ING Equity Holdings, Inc.
ING Equity Partners L.P.
ING Realty Services, Inc.
ING (U.S.) Financial Services Corporation
ING Baring Grupo Financiero (Mexico) S.A. De C.V.
ING Inmobiliaria (Mexico) S.A. de C.V.
ING Bank (Mexico) S.A.
ING Baring (Mexico), S.A. de C.V., Casa de Bolsa
ING Baring (U.S.) Financial Holdings LLC
ING Baring (U.S.) Capital Markets, LLC
ING Baring (U.S.) Capital LLC
ING (U.S.) Latin American Capital LLC
Internationale Nederlanden (U.S.) Real Estate Finance, Inc.
1996 Olympic Corporation
California Acquisition Partners I
Coast Atlantic, Inc.
Highridge ING Atlantic L.P.
Apache Investments, Inc.
Kokopelli Associates, Ltd.
Blue Sky Properties Inc.
Montague Court, LLC
Calprop Portfolio, Inc.
The Center at San Marcos Corporation
Crow's Nest Corporation
Genesee Corporation
Algerine Inc.
Genreo Corporation
Northern Springs Portfolio, Inc
Laketon Corporation
Lucre Lake Corporation
ING Real Estate Investors, Inc.
Little Muddy Creek Corporation
FN Realty Advisors, Inc.
Mountain AMD L.P.
First Ohio Service Corporation
5850 Corporation
Colrad Development Corp.
Evergreen Valley Development
LFS Capital Corporation
Lisle Center, Inc.
Spectrum Holdings, Inc.
Cardinal Mortgage Corporation
E.N. One, Inc.
Fairfield Village Mortgage Corporation
Lincoln Ventures Corporation
Pathway Lands Incorporated
Amarak II Investments Corporation
Pimco Corporation
Baloo Corporation
Can II, LLC
Cap II Foreclosure Corporation
Penn Mar Associates, LLC
<PAGE>
Calprop II Portfolio, Inc.
Clear River Associates, Inc.
Amarak Investments Corporation
Great Lakes Management, Inc.
Canadian Ventures I L.P.
Falcon Gate, Inc.
Long Ears Corporation
Pleasantlake Corporation
S G Investors Corporation
Southgate Plaza, LLC
Ventura Ridge Associates, Inc.
Triangle Development Corporation
39 Vestry LLC
Tech Air Corporation
ING Barings Real Estate Acquisition Company
Pentagon Parkway Corporation
Artis Realty Advisors, Inc.
Coconut Corp.
Promontory Point, Inc.
Promontory Point Partnership
Seagate Development Corporation
Able Gateway Plaza, LLC
Mountain Creek Investors, Inc.
Mountain Creek Company, LLC
Telluride Mountain Village Ventures, LLC
Nashpike Corporation
Velocity One Inc.
B&I Associates, LLC
Brookhollow Associates, L.P.
Courtyard Plaza Associates, L.P.
Glen Harbor Associates, LLC
Hightree Associates, LLC
Lakebridge Partners, L.P.
Kent Hospitality Associates, L.P.
Northern Springs Limited Partnership
Ventura Hospitality Partners, L.P.
40 East Associates, L.P.
Springfield Corporate Center, LLC
Fountain Park Partners, L.P.
Westmoreland Associates, L.P.
Green Neck, LLC
Mallard Cove Investors, LLC
Calshops, LLC
BHI-Dover VII, L.P.
BHI-Dover VIII, L.P.
BHI-Dover X, L.P.
BHI-Dover XI, L.P.
Brickyard Investors, L.P.
Eastgate Hospitality Partners, L.P.
Festival Pasadena Associates, L.P.
Golden Bear Homes I, L.P.
Golden Bear Homes II, L.P.
Golden Bear Homes III, L.P.
Golden Bear Homes IV, L.P.
SPA Partners, L.P.
Miami Bay Hospitality Associates, L.P.
Royal River Partners, L.P.
<PAGE>
Wildewood Holdings, LLC
Madramp, LLC
201 Madison, LLC
RTC Commercial Assets Trust, NP3-3
Boulders Phoenician Limited Partnership
CPR Investments, Inc.
Phoenician Investments, L.P.
Wisconsin Option Inc.
Hammer & Nails, Inc.
RIB Residential LLC
RBG Residential Investors, LLC
RBG XXXV Corp.
Centerline/RBG XXXV, L.P.
RB Florida Partners, L.P.
Center VII Corporation
Center VIII Corporation
Center X Corporation
Fountain Park Corporation
Royal Falls Corporation
Woodward Investors Corporation
Woodward First National LLC
Qualco, Inc.
Quality Fifth Avenue Hotel Associates, LLc
Fifth Avenue Hospitality Associates, LLC
Baldco, Inc.
Sleepy Lake Corporation
High Flyer Corporation
Airport One Investors, LLC
Lower Westside Development Corp.
359 West 11th Street, LLC
Velocity Two, Inc.
Baldwin Hospitality, LLC
Sleepy Lake Partners, L.P.
ING Merger Inc.
Furman Selz Trust Company
Furman Selz (Ireland) LLC
Furman Selz Financial Services Unlimited
Furman Selz Advisors LLC
Furman Selz Capital LLC
Furman Selz Management (BVI) Ltd.
Furman Selz Investments LLC
Furman Selz Investors, L.P.
Furman Selz SBIC Investments LLC
Furman Selz SBIC, L.P.
ING Baring Furman Selz LLC
Furman Selz Investment II
Furman Selz Investors II, L.P.
Furman Selz Parallel Fund
Artisan Investment Management LLC
Michelangelo Partners, L.P.
Total Resources LLC
Furman Selz Resources LLC
Furman Selz Financial Services LLC
Furman Selz Merchant Capital LLC
Furman Selz Ventures, L.P.
Karnak Partners, L.P.
Saugatuck Partners, L.P.
<PAGE>
Crestwood Capital Partners, L.P.
Crestwood Capital Partners II, L.P.
Bridgewood Capital Partners, L.P.
ING TT&S (U.S.) Holdings Corporation
ING TT&S (U.S.) Securities, Inc.
ING (U.S.) Securities, Futures & Options Inc.
ING TT&S (U.S.) Capital Corporation
Furman Selz Proprietary, Inc.
ING (U.S.) Capital Investors Holdings, Inc.
ING (U.S.) Capital Securities, Inc.
Brecco, Inc.
FSIC LLC
Mutual Fund Funding 1994-1
Pacifica Funds Distributor, Inc.
Furman Selz Residential Funding LLC
FS Trust Company
ING Bank (Chile) S.A.
Edibank S.A.
Sociedad Interbancaria De Depositos De Valores S.A.
ING Bank (Eurasia)
ING Bank (Hungary) Rt.
Giro Elszamolasforgalmi Rt.
ING Duna Ingatlanhasznositc KFT
ING Bank (Luxembourg) S.A.
CMF Advisory S.A.H.
Euromix Advisory S.A.H.
ING Bank Luxfund Management S.A.
ING International Advisory S.A.H.
ING International II Advisory S.A.H.
ING Bank (Schweiz) A.G.
Kredietbank S.A. Luxembourgeoise
ING Bank (Uruguay) S.A.
Bolsa Electronica De Valores Del Uruguay S.A.
Compania Uruguaya De Medios De Procesamiento S.A.
Red. De Intercomunicacion De Alta Seguridad S.R.L.
ING Bank of Canada
ING Bank Corporate Investments B.V.
Entero B.V.
Eruca Belegging B.V.
ING Bank Mezzaninefonds B.V.
ING Bank Participatie PPM B.V.
MKB Beleggingen B.V.
MKB Vliehors II B.V.
Wijkertunnel Beheer II B.V.
Wijkertunnel Beheer II Management B.V.
MKB Vliehors III B.V.
Small Business Publishing B.V.
N&M Holding N.V.
ING Bank Dutch Fund N.V.
ING Bank Fondsen Beheer B.V.
ING Bank Geldmarkt Fonds N.V.
ING Bank Global Custody UK Nominees Limited
ING Bank Global Fund N.V.
ING Bank Guldem Fonds N.V.
ING Bank I.T. Fund N.V.
ING Bank Luxfund Management S.A.
ING Bank Middutch Fund N.V.
<PAGE>
ING Bank Obligatie Fonds N.V.
ING Bank Rentegroei Fonds N.V.
ING Bank Spaardividend Fonds N.V.
ING Bank Vastgoed Fonds B.V.
ING Bank Verre Oosten Fonds N.V.
ING Baring Capital Markets (C.R.), A.S.
ING Baring Financial Products
ING Baring Holding Nederland B.V.
Atlas Capital (Thailand) Limited ("Atlas")
ING Baring Securities (Thailand) Limited
ING Baring Holdings Limited
Baring Asset Management Holdings Ltd.
Baring Asset Management Ltd.
Baring International Investment Limited
Baring International Investment Management Holdings Ltd.
Baring Asset Management Inc.
Baring International Investment (Canada) Limited
Baring International Investment Management Limited
Baring Asset Management Holdings Inc.
Baring Asset Management UK Holdings Limited
Baring Asset Management (Asia) Holdings Limited
Austin Assets Limited
Baring Asset Management (Asia) Limited
Baring Asset Management (Australia) Limited
Baring Asset Management (Japan) Limited
Baring International Fund Managers (Bermuda) Limited
Baring International Fund Managers Limited
Baring International Investment (Far East) Limited
Baring Pacific Investments Limited
Baring Asset Management (C.I.) Limited
Baring International Fund Managers (Ireland) Ltd.
Baring Investment Services Inc.
Baring Mutual Fund Management S.A.
European and Asian Fund Management S.A.
Baring Investment Management Ltd.
Baring Quantative Management Ltd.
Baring Global Fund Managers Limited
Baring Private Asset Management Ltd.
Baring Fund Managers Limited
Baring Managed Funds Services Ltd.
Baring Private Investment Management Ltd.
Baring Trust Company Ltd.
Baring Trustees (Guernsey) Limited
Arnold Limited
International Metal Trading Limited
Barings (Isle of Man) Limited
Control Management Limited
Doyle Administration Limited
International Metal Trading Limited
ING Trust (Jersey) Ltd
Saline Nominees Limited
Truchot Limited
Vivian Limited
Barings (Guernsey) Limited
Barfield Nominees Limited
Barings Ireland Limited
Guernsey International Fund Managers Limited
<PAGE>
Arnold Limited
International Metal Trading Limited
Control Management Limited
Doyle Administration Limited
International Metal Trading Limited
International Fund Managers (Ireland) Ltd.
International Securitisation Managers (Ireland) Ltd
Saline Nominees Limited
Truchot Limited
Vivian Limited
International Fund Managers UK Ltd.
Ravensbourne Registration Services Ltd.
Barings Investment Services Limited
Baring Brothers Holdings Limited
Baring (U.S.) Holdings Limited
Abbotstone Investment Company Limited
Baring Brothers Limited
Baring Brothers (Finance) Limited
Baring Brothers Argentina S.A.
Baring Brothers International Limited
Barings C.F. Holdings Limited
B.B.A.H. Pty Limited
Baring Brothers Burrows & Co. Limited
Baring Brothers Burrows Securities Limited
SAIPH Pty Limited
BBHP Pty Limited
Baring Brothers (Deutschland) GMBH
Baring Brothers International GMBH
Baring Brothers (Espana) S.A.
Barings Brothers (Italia) SRL
Baring Properties (London Wall) Limited
Baring Properties Limited
Outwich Finance Limited
Outwich Limited
Baring Warrants PLC
Barings France S.A.
Barings Nominees Limited
Bishopscourt Holdings Limited
Bishipscourt Leasing (Holdings) Limited
Bishopscourt Asset Leasing Limited
Bishopscourt Equipment Leasing Limited
Bishopscourt Industrial Finance Limited
Bishopscourt Limited
Bishopscourt Securities Limited
BVC Nominees Limited
Cotton Nominees Limited
ING Baring International Advisers Limited
ING Baring Services (Eastern Europe) Limited
ING Baring Services Limited
The Mortgage Acceptance Corporation (Holdings) Limited
The Mortgage Acceptance Corporation Limited
Yealme Securities Limited
ING Baring Financial Products
ING Baring Securities Holdings Limited
ING Baring Securities Limited
ING Baring Securities (Andean Pact) Ltda
ING Barings Peru S.A.
<PAGE>
ING Baring Securities Services Limited
Baring Securities (Property Services) Ltd
BS Property Services (Japan) Limited
ING Baring Data Limited
INGB Dormant Holding Company Limited
Baring Securities (London) Limited
Baring Securities (OTC Options) Limited
ING Baring Management Services PTE Ltd
ING Baring Research Limited
ING Baring Securities (Overseas) Ltd.
ING Baring Securities Management Services (Hong Kong) Ltd
Maketravel Limited
INGB Securities (International) Holdings Limited
Baring Securities (Financial Services) Limited
Barsec (International) Limited
Baring Nominees (Australia) Pty Ltd
Baring Research S.A. De C.V.
Baring Securities (Australia) Limited
Baring Securities (France) S.A.
Baring Securities Pakistan (Private) Limited
Barings Mauritius Limited
ING Barings India Private Limited
ING Baring Securities (India) Pvt. Ltd.
Celtec Holdings S.A.
ING Baring Corretora De Valores Mobiliarios S.A.
Corinvest Limited
Epcorp Limited
Galax Limited
Dropny B.V.
ING Baring Chile Limitada
ING Baring International PTE Ltd
ING Baring Operational Services (Taiwan) Limited
ING Baring Securities (Andean Pact) Ltda
ING Baring Securities (Hong Kong) Ltd
ING Baring Far East Nominees Limited
ING Baring Securities (Philippines) Inc.
ING Baring Securities (Singapore) PTE Ltd
ING Baring Nominees (Singapore) PTE Ltd
ING Baring Research (Malaysia) SDN. Bhd.
ING Baring Securities (Taiwan) Limited (SICE)
ING Baring Securities, Argentina S.A.
ING Baring South Africa Limited
ING Barings Southern Africa (Proprietary) Ltd
Anodyne Nominees (Proprietary) Limited
ING Barings Peru S.A.
ING Futures & Options (Hong Kong) Limited
ING UK Capital Limited
Lokmaipattana Co. Limited
PT ING Baring Securities Indonesia
INGB Securities Client Services Limited
Aliwall Limited
Barings Securities Nominees Limited
Brunera Limited
Cereus Limited
Dianthus Limited
Eranthis Limited
Francoa Limited
<PAGE>
Grassmere Limited
Leacroft Limited
Mountbatten Limited
ING Baring Securities (Japan) Limited
ING Baring Securities (Thailand) Limited
ING Baring Investment (Eurasia) Zao
ING Baring Securities (Hungary) Rt.
ING Baring Securities (Poland) Holding B.V.
ING Baring Securities (Romania) S.A.
ING Baring Securities (Slovakia), S.R.O.
Proctor & Gamble S.R.O.
ING Barings Ecuador Casa De Valores S.A.
ING BSK Asset Management S.A.
ING Capital Markets (Hong Kong) Limited
ING Compania De Inversiones Y Servicios Limitada
Bolsa Electronica De Chile, Bolsa De Valores S.A.
CISL Aruba A.E.C.
ING Consultants Co., Ltd.
ING Derivatives (London) Limited
Belgian Futures & Options Exchange
London Clearing House Limited
Liffe (Holdings) PLC
The International Petroleum Exchange of London Limited
ING Empreendimentos E Participacaos Ltda.
Guilder Corretora De Valores Mobiliarios S/A
ING Guilder Distribuidora De Titulos E Valores Mobiliarios S/A
ING Investment Management Ltda.
ING Servicos Ltda.
ING Finance (Ireland) Ltd
ING Forex Corporation
ING Futures & Options (Singapore) PTE Ltd
ING Inversiones, Ltda.
Corporacion Financiera ING (Colombia) S.A.
ING Investment Management Holdings (Antilles) N.V.
ING Lease Holding N.V.
CW Lease Belgium NV
CW Finance N.V.
CW Lease Luxembourg S.A.
Dealer Lease Service Belgium N.V.
CW Lease Nederland BV
Autolease OSS B.V.
CW Finance N.V.
CW Lease Belgium NV
CW Finance N.V.
CW Lease Luxembourg S.A.
Dealer Lease Service Belgium N.V.
CW Lease France S.N.C.
CW Lease Luxembourg S.A.
Dealer Lease Service Belgium N.V.
Gothia Estate II B.V.
Westment II B.V.
International Driver Service B.V.
Schade Herstel Bedrijf B.V.
ING Aircraft Lease B.V.
Fokker Brasil B.V.
ING Lease (Belgium) N.V.
Real Estate Lease SPC 1 N.V.
<PAGE>
Savin Lease N.V.
ING Lease (Espana) EFC, SA
ING Lease (France) S.A.
ING Lease (France) S.N.C.
ING Lease (Italia) SPA
ING Lease (Nederland) B.V.
Blauwe IRM B.V.
Graphic Lease B.V.
Groen Lease B.V.
GIL 1997 (Windkracht) B.V.
ING Lease Vastgoed B.V.
Newco-One Corp.
Ship Lease International B.V.
ZIL '96 B.V.
ING Lease (Polska)
ING Lease Holding (Deutschland) GMBH
CW Lease Deutschland GMBH
CW Lease Berlin GMBH
ING Lease Deutschland GMBH
IFSC Beteiligungsgesellschaft GMBH
ING Lease (Berlin) GMBH
ING Lease Kran und Schwertransport GMBH
ING Leasing Besitzgesellschaft MBH
ING Leasing Geschaeftsfuhrungsgesellschaft MBH
ING Leasing Gesellschaft Fur Beteiligungen MBH
ING Leasing GMBH & Co. Golf KG
ING Leasing GMBH & Co. Juliett KG
ING Leasing Treuhandsgeselschaft GMBH
ING Leasing Verwaltungsgesellschaft GMBH
Uta Finanz und Leasing GMBH
ING Lease Holdings (UK) Limited
CW Lease UK Ltd
CW Finance Ltd.
Leasing Principals Limited
ING Lease (UK) Limited
ING Farm Finance Limited
ING Farm Finance (June) Limited
ING Farm Finance (March) Limited
ING Farm Finance (September) Limited
ING Lease (UK) Nine Limited
ING Lease (UK) Six Limited
ING Lease (UK) Three Limited
MKL Rentals Limited
ING Lease Interfinance B.V.
CW Lease France S.N.C.
ING Lease (Italia) SPA
Real Estate Lease SPC 1 N.V.
Runoto Belgium N.V.
Diamond Lease
ING Lease International Equipment Finance B.V.
ING Aviation Lease B.V.
Air Finance Holland B.V.
Aviation Service Holland B.V.
ING Lease (Far East 2) B.V.
ING Lease (Far East) N.V.
ING Lease (Ireland) B.V.
ING Lease (France) S.N.C.
<PAGE>
ING Lease Structured Finance B.V.
Esbelto B.V.
Green Assets B.V.
Hirando B.V.
Hokabe Lease B.V.
ING Bank Geldmarkt Fonds Beheer B.V.
ING Lease Milieu B.V.
Quadralock 2 B.V.
SFING Europe B.V.
Tropelia B.V.
Virgula B.V.
ING Lease International Equipment Management B.V.
Air Finance Amsterdam B.V.
Air Holland Leasing II B.V.
ING (Holland Aircraft Lease) B.V.
ING Lease Aircraft B.V.
ING Lease Delaware, Inc.
Noord Lease B.V.
Postbank-Lease B.V.
Renting De Equipos E Inmuebles SA
Runoto Leasing BV
Runoto Belgium N.V.
Diamond Lease
ING Mercantile Mutual Bank Limited
ING Merchant Bank (Singapore) Limited
Export Credit Insurance Corporation of Singapore Ltd
ING Asset Management (Singapore) Ltd
ING Nominees (Singapore) PTE Ltd
ING Participation Dalrybbank B.V.
ING Private Banking Beheer B.V.
ING Bank Vastgoed Management B.V.
ING Securities (Eurasia) Zao
ING Servicios, C.A.
ING Sociedad De Bolsa (Argentina), S.A.
Mercado De Valores De Buenos Aires S.A.
ING Sviluppo Sim S.P.A.
ING Trust B.V.
Ingress N.V.
ING Management (Hong Kong) Ltd
ING Nominees (Hong Kong) Ltd
ING Trust (Antilles) NV
Formid Management N.V.
ING (Antilles) Portfolio Management N.V.
Monna NV
Jet NV
Simbad N.V.
ING Trust (Aruba) N.V.
ING Trust (BVI) Ltd.
ING Trust (Luxembourg) S.A.
ING Trust (Nederland) B.V.
ING Bank (Eurasia)
ING Bank (Luxembourg) S.A.
CMF Advisory S.A.H.
Euromix Advisory S.A.H.
ING Bank Luxfund Management S.A.
ING International Advisory S.A.H.
ING International II Advisory S.A.H.
<PAGE>
ING Baring Securities (Romania) S.A.
ING Holdings Empreendimentos Participacao Ltda.
Guilder Corretora De Valores Mobiliarios S/A
Management Services ING Bank B.V.
ING Bank (Eurasia)
ING Baring Investment (Eurasia) Zao
ING Securities (Eurasia) Zao
Muteka BV
ING Trust (Suisse) AG
Trust Maatschappij ING Bank B.V.
Anorga B.V.
Corpovea B.V.
N.V. Balmore Vastgoed U.S.A.
Den Hamer Beheer B.V.
Diagonac B.V.
Henry F. Holding B.V.
ING Aconto N.V.
N.V. Balmore Vastgoed U.S.A.
Mijcene B.V.
Vitigudino B.V.
N.V. Balmore Vastgoed U.S.A.
N.V. Balmore Vastgoed U.S.A.
Paramito B.V.
Rescit I BV
Storeria B.V.
Tuvor B.V.
Vitigudino B.V.
N.V. Balmore Vastgoed U.S.A.
Vitigudino B.V.
N.V. Balmore Vastgoed U.S.A.
Westward Capital II B.V.
ING Valores (Venezuela) C.A.
ING Vastgoed B B.V.
ING Real Estate (BHS) B.V.
ING Real Estate International Development B.V.
Holland Park Sp. Zoo
ING Real Estate Iberica SL
ING Real Estate International Development (Liege) B.V.
ING Real Estate Sp. Zoo
ING Real Estate Vasco Da Gama B.V.
London & Amsterdam Properties Ltd
London and Amsterdam Development Ltd.
London & Amsterdam Properties Ltd
MBO Camargo SA
Inmolor SA
MBO La Farga SA
Hospitalet Center, SL
MBO Morisson Ltd
Warsaw I B.V.
1300 Connecticut Avenue Joint Venture Ltd
ING Real Estate International Investment II B.V.
ING Real Estate International Investment III B.V.
ING Vastgoed Financiering N.V.
Bedrijfsgebouw MBO - Riho C.V.
Groeneveld MBO C.V.
M.B.O. Vastgoed Lease B.V.
Lindenburgh C.V.
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Maria Hove C.V.
MBO Brova C.V.
MBO North America Finance B.V.
Residential Financial Development LLC
ING Vastgoed Fondsen B.V.
Winkelfonds Nederland Management B.V.
ING Vastgoed Ontwikkeling B.V.
Amsterdamse Poort Holding IV B.V.
Amsterdamse Poort IV B.V.
Grondpoort IV B.V.
Amsterdamse Poort II B.V.
BV Bedrijvenpark G.P.
CV Bedrijvenpark G.P.
Grondpoort II B.V.
Gulogulo B.V.
Antibes Holding B.V.
ING Vastgoed Arena B.V.
Muller Bouwparticipatie B.V.
V.O.F. Winkelcentrum Markt Noorderpromenade Drachten
MBO - Ruijters B.V.
Holding 'T Loon B.V.
Vastgoed 'T Loon B.V.
Wolfstreet Holding B.V.
Wolfstreet B.V.
Wolfstreet Grond B.V.
MBO Brinkstraat Holding B.V.
MBO Brinkstraat B.V.
MBO Brinkstraat Grond B.V.
MBO Catharijnesingel Holding B.V.
MBO Catharijnesingel B.V.
MBO Catharijnesingel Grond B.V.
MBO De Centrale Holding B.V.
MBO De Centrale B.V.
MBO De Centrale Grond B.V.
MBO Dommelstaete Holding B.V.
MBO Dommestaete B.V.
MBO Emmasingel Holding B.V.
MBO Emmasingel B.V.
MBO Emmasingel Grond B.V.
MBO Guyotplein Holding B.V.
MBO Guyotplein B.V.
MBO Guyotplein Grond B.V.
MBO Kousteensedijk Holding B.V.
MBO Kousteensedijk B.V.
MBO Kousteensedijk Grond B.V.
MBO Kruseman Van Eltenweg Holding B.V.
MBO Kruseman Van Eltenweg B.V.
MBO Kruseman Van Eltenweg Grond B.V.
MBO Marienburg B.V.
Marienburg V.O.F.
MBO Martinetsingel Holding B.V.
MBO Martinetsingel B.V.
MBO Martinetsingel Grond B.V.
MBO Oranjerie Holding B.V.
MBO Oranjerie B.V.
MBO Oranjerie Grond B.V.
MBO Pleintoren Holding b.V.
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MBO Pleintoren BV
MBO Pleintoren Grond BV
MBO Via Catarina B.V.
Via Catarina "Empredimentos Imobiliarios" SA
MBO Walburg Holding B.V.
MBO Walburg B.V.
MBO Walburg Grond B.V.
MBO Willem II Singel Holding B.V.
MBO Willem II Singel B.V.
MBO Willem II Singel Grond B.V.
Q-Park Bovenmaas I B.V.
Q-Park N.V.
Q-Park Nederland B.V.
Q-Park Exploitatie B.V.
Q-Park De Bijenkorf B.V.
Q-Park Beheer B.V.
Q-Park Brabant B.V.
Q-Park Reserve I B.V.
Q-Park Byzantium B.V.
Q-Park City Holding B.V.
Q-Park City B.V.
Q-Park Schouwburg B.V.
Q-Park De Klomp B.V.
Q-Park Raadhuis B.V.
Q-Park Reserve II B.V.
Stadsherstel Historisch Rotterdam N.V.
Supermarkt Krouwel B.V.
V.O.F. Winkelcentrum Markt Noorderpromenade Drachten
Vastgoed De Brink Holding B.V.
Vastgoed De Brink B.V.
Wilhelminahof MBO B.V.
Zuidplein Beheer BV
ING Verwaltung (Deutschland) GMBH A.G.
Allgemeine Deutsche Direktbank AG
BNL Beteiligungsgeselschaft Neue Laender GMBH & Co. KG
Liquiditats-Konsortialbank GMBH
ING-North East Asia Bank
INIB N.V.
Locura Belegging B.V.
Luteola B.V.
Melifluo B.V.
Middenbank Curacao N.V.
Advisory Company Luxembourg
Altasec N.V.
Corporacion Financiera ING (Colombia) S.A.
Aralco N.V.
Atlas Venture Fund I, L.P.
Banco Latino-Americano De Exportaciones S.A.
Cayman Islands Funds N.V.
Corporacion Financiera ING (Colombia) S.A.
Datasegur S.R.L.
Fiseco N.V.
Granity Shipping N.V.
Institucion Financiera Externa Middenbank Curacao N.V. (Uruguay)
ING Bank (Chile) S.A.
Edibank S.A.
Sociedad Interbancaria De Depositor De Valores S.A.
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ING Barings Ecuador Casa De Valores S.A.
ING Compania De Inversiones Y Servicios Limitada
Bolsa Electronica De Chile, Bolsa De Valores S.A.
CISL Aruba A.E.C.
ING Inversiones, Ltda.
Corporacion Financiera ING (Colombia) S.A.
ING Sociedad De Bolsa (Argentina), S.A.
Mercado De Valores De Buenos Aires S.A.
Kamadora Investments N.V.
Corporacion Financiera ING (Colombia) S.A.
Lerac Investment S.A.
Red Rose Investments N.V.
Unilarse
Zermatt N.V.
Miopia B.V.
Multiaccess B.V.
MKB Adviseurs B.V.
MKB Card B.V.
MKB Investments BV
De Springelberg B.V.
Het Dijkhuis B.V.
Palino B.V.
Tiberia B.V.
MKB Punt B.V.
Business Compass Holding B.V.
N.V. Instituut Voor Ziekenhuisfinanciering
Nationale-Nederlanden Financiele Diensten B.V.
B.V. Financieringsmaatschappij Vola
B.V. Kredietmaatschappij Vola
Dealer Cash Plan B.V.
Cash Plan B.V.
Finantel B.V.
Sentax Assurantie B.V.
G. J. Van Geet Beheer B.V.
Alegro Krediet B.V.
Gelderse Discount Maatschappij B.V.
Sentax Beheer B.V.
Finam Krediet B.V.
Sentax Lease B.V.
Vola Geldleningen B.V.
Nederlandse Bouwbank N.V.
Nederlandse Financieringsmaatschappij Voor Ontwikkelingslanden N.V.
Nedermex Limited N.V.
Netherlands Caribbean Bank N.V.
Nethworks Integrated Project Consultancy B.V.
Nofegol Beheer B.V.
NCM Holding N.V.
NMB Equity Participaitons N.V.
NMB-Heller Holding N.V.
Handlowy-Heller SA
Heller GMBH
Heller Bank A.G.
International Credit Service S.A.S.
Heller Finanz GMBH
Info-Und Beratungsunternehmen GMBH
NMB-Heller Ltd.
NMB-Heller N.V.
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Agpo Participatiemaatschappij B.V.
Felix Tigris B.V.
Inter Credit B.V.
International Credit Service S.A.S.
International Credit Service S.A.S.
NMB-Heller Zweigniederlassung Neuss
Zamenbrink B.V.
Zamenterp B.V.
OB Heller AS
Okalia N.V.
Olivacea B.V.
Ontwikkelingsmaatschappij Noordrand B.V.
Orcinus B.V.
Oscar Smit's Bank N.V.
Bouwmaatschappij Mecklenburgplein B.V.
Kenau B.V.
P.T. ING Indonesia Bank
Parmola B.V.
Paronyme B.V.
Pendola B.V.
Perotis B.V.
Policy Extra Holdings Limited
Postbank N.V.
Amsterdam Exchanges N.V.
Interpartes Incasso B.V.
Postbank Aandelenfonds N.V.
Postbank Beleggingsfonds N.V.
Postbank Beleggingsfondsen Beheer B.V..
Postbank Beleggingsfondsen Bewaar B.V.
Postbank Chipper Beheer B.V.
Postbank Euro Aandelen Fonds N.V.
Postbank Groen N.V.
Postbank I.T. Fonds N.V.
Postbank Interfinance B.V.
Postbank Nederlandfonds N.V.
Postbank Obligatie Fonds N.V.
Postbank Obligatiefonds Beheer B.V.
Postbank Vastgoedfonds N.V.
Postbank Vermogensgroeifonds N.V.
Postbank Wereldmerkenfonds N.V.
Postkantoren B.V.
Prena Belegging B.V.
T Oye Deventer B.V.
A. Van Der Molen Herenmode B.V.
A. Van Der Pol Beleggingsmaatschappij Amsterdam B.V.
A. Van Venrooy Beleggingen B.V.
A. Van Weringh Beleggingen B.V.
A.C.M. Nienhuis Houdstermaatschappij B.V.
B.V. Raadgevend Bureau Nienhuis Consultans
A.H. Blok Holding B.V.
A.H.M. Habets Beheer B.V.
A.J. Vos Makelaardij Onroerende Goederen B.V.
Abades B.V.
Abrocoma B.V.
Ad Barnhard Holding B.V.
Albranis B.V.
Almenzor B.V.
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Altimira B.V.
Ambito N.V.
Aralar B.V.
Atitlan B.V.
B.V. Beheersmaatschappij Nuyt En Heikens
B.V. Odripi
B.V. Varen ABC
B.V. Vulca Beleggingsmaatschappij
Barbatus B.V.
Barbuda B.V.
Bebida B.V.
Beheermaatschappij Van Der Reijnst B.V.
Beheermaatschappij Van Het Beleggingsfonds Van De 7 B.V.
Beheermaatschappij Darius B.V.
Beheermaatschappij Stouwe B.V.
Beheermaatschappij Van Putten B.V.
Beheersmaatschappij Elma Schrijen B.V.
Beheersmaatschappij K.G. Tjia B.V.
Beheersmaatschappij Luco Zuidlaren B.V.
Beheersmij A.J. Konst B.V.
Belagua B.V.
Bergara B.V.
Bermillio B.V.
Betulina B.V.
Bidasoa B.V.
Biporus B.V.
Blarina B.V.
Brasas B.V.
Bravura B.V.
Bremer-Van Mierlo Belegginsgmaatschappij B.V.
Bustia B.V.
C. J. Buyzen Beheer B.V.
C. J. H. - En J. J. Heimeriks Holding B.V.
Calando Belegging B.V.
Camilo B.V.
Castroverde B.V.
Catoneria B.V.
Cermanita B.V.
Cicania B.V.
Clacri B.V.
Colocar B.V.
OCB Beheer B.V.
Concolor B.V.
Cortada B.V.
Cotranco B.V.
Crescentes Prins B.V.
Cumbras B.V.
Cupula B.V.
D'Eijk B.V.
De Groninger Lederwaren Industrie B.V.
Delta Nederland Beheer B.V.
Dorsalis B.V.
Dr. De Grood Beheer B.V.
DKP Beheer B.V.
Dick Kooiman Publication/Productions B.V.
DSBV-Enserink B.V.
DSBV-Ploeger B.V.
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E. Romar Beheer B.V.
Omnium B.V.
Empluma B.V.
Entorno B.V.
Epic Investments B.V.
Ernsatus B.V.
Esvice B.V.
Exel Beheer B.V.
Exploitatie En Beleggingsmaatschappij Alja Eindhoven B.V.
F. R. Hoffschlag Beleggingen B.V.
Familiale Investerings Maatschappij F.I.M.
Farlita B.V.
Flantua Beheer B.V.
Fregenda B.V.
Funjob Investments B.V.
G. Laterveer Beheer B.V.
Garlito B.V.
Gebrema Beheer B.V.
Gekrabeheer B.V.
Germs Beleggingen B.V.
Glabana B.V.
Golpejas B.V.
H. Van Duinen Beheer B.V.
H. Mekenkamp Holding B.V.
Mekenkamp Beheer B.V.
H. Weterings Holding B.V.
H. D. En L.B. Meijer Beheer B.V.
H. G. Van Der Most Beheer B.V.
Handelsonderneming E. Spee B.V.
Hepec Beheer B.V.
Hilschip BV Hispidus B.V.
Hof En Frieling Beheer B.V.
Hof & Frieling Onroerend Goed B.V.
Holding Hoveling Beheer B.v.
Holding J.W.G. Huijbregts B.V.
Holding Schildersbedrijf West-Friesland B.V.
Holding Schuiling B.V.
Holding Th. A. Wellink B.V.
Hotel-Restaurant Boerhave B.V.
Huaco B.V.
Humada B.V.
Ignaro B.V.
Imbricata B.V.
Incoloro B.V.
Indonea B.V.
Allshoes Schoengroothandel B.V.
ING Bank Spaardividend Fonds Beheer B.V.
J & A Holding B.V.
J. B. Van Den Brink Beleggingsmaatschappij B.V.
J. G. Mekenkamp Holding B.V.
Mekenkamp Beheer B.V.
J. H. Moes Holding B.V.
J. P. Korenwinder Beheer B.V.
J. W. Th. M. Kohlen Beheer B.V.
Jemaas Beheer B.V.
Jongert Beheer B.V.
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K & M Beheer B.V.
Kalliope B.V.
Bacolac B.V.
Kapellenberg B.V.
Kijkgroep B.V.
Koehorst Promotion Beheer B.V.
KBM Maarssen B.V.
L. Martens Beheer B.V.
La Douce Vie Network B.V.
Lagotis B.V.
Larino B.V.
Latourette B.V.
Leaver B.V.
Ledanca B.V.
Lektura Tiel Beheer B.V.
Licorera B.V.
Liecene B.V.
Lin Beheer B.V.
Lomajoma Holdings B.V.
Lorkendreef Beheer N.V.
Lustroso B.V.
M. B. Van Der Vlerk B.V.
Madrigal B.V.
Marres B.V.
Masegoso B.V.
Matthew Holding B.V.
Mazairac Belegging B.V.
Minnaar Holding B.V.
Mirabilis B.V.
Molenwiede B.V.
Muguet B.V.
Multicover B.V.
Pulido B.V.
Mustang B.V.
Olseria B.V.
Arend Broekhuis B.V.
P. Nienhuis Houdstermaatschappij
P. J. Heinrici Beheer B.V.
Pastrana B.V.
Pedralva B.V.
Pemac B.V.
Penuria B.V.
Perola Belegging B.V.
Pertusa B.V.
Peter Trompalphen Aan Den Rijn Beheer B.V.
Phobos Beleggingen
Pinicola B.V.
Pluijmen Holding B.V.
Portelas B.V.
Postigo B.V.
Prestamo B.V.
Pruis Elburg Beheer B.V.
Puebla B.V.
Pulido B.V.
Rayhold Management En Deelneming B.V.
Rescoldo B.V.
Ressel B.v.
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Retrasos B.V.
Rodeba Deurne B.v.
Roelcene B.V.
Rowanda B.V.
Rudlolf & Peter Herenmode En Confectie B.V.
Sabra Holding B.V.
Valpacos B.V.
Sacobel Beheer B.V.
Schnieders Beheer B.V.
Simonis Beheer B.V.
Simonis Beleggingsmaatschappij B.V.
Sipororo B.V.
Spaleta B.V.
Spatgens Beheer B.V.
Stampida B.V.
Stamveld B.V.
Steendam Beleggingsmaatschappij Drachten B.V.
Storm Beheer B.V.
Beheermaatschappij Baarlo B.V.
Strokkur B.V.
Sunrise Investments B.V.
Sustento B.V.
Svalbard Beheer B.V.
T. A. Lie Beheer B.V.
T. M. D. Beheer B.V.
Beheermaatschappij Baarlo B.V.
Tadavia B.V.
Beleggings - En Beheer Maatschappij Solina B.V.
Refina B.V.
Talboom Beheer B.V.
Tapirus B.V.
Tarsius B.V.
Technisch Advies Bureau Jaba B.V.
Ter Linden En Heijer Holding B.V.
Tessara Zaanlandia B.V.
Thecoar B.V.
Theo Kentie Holding B.V.
Theo Kentie Design B.V.
Traslado B.V.
Trasgo B.V.
Treetop B.V.
Trituris B.V.
Truckstar Holding B.V.
Tucupido B.V.
Tricor B.V.
U. Ringsma Beheer B.V.
Unitres Holding B.V.
Vaanhold & Van Zon Holding B.V.
Van Den Heuvel Beheer B.V.
Van Loon Beheer B.V.
Van Roij Holding B.V.
Van Zwamen Holding B.V.
Vebe Olst B.V.
Vegem Beheer B.V.
Venidero B.V.
Vette Consultants B.V.
Vicar B.V.
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Vidriales B.V.
W. Van Den Berg B.V.
W. N. Van Twist Holding B.V.
Wabemij B.V.
Wiancini B.V.
Rentista B.V.
Reoco Limited
Rutilus B.V.
RL & T (International) N.V.
Securo De Depositos S.A.
Siam City Asset Management Co., Ltd
Slivast B.V.
Societe Financiere Du Libans. A.L.
Society for Worldwide Interbank Financial Telecommunication S.C.
Stichting Administratiekantoor ING Bank Global Custody
Tablero B.V.
Tolinea B.V.
Tripudio B.V.
Tunnel Onder De Noord B.V.
C. V. Exploitatiemaatschappij Tunnel Onder De Noord
Unidanmark A/S
Verenigde Bankbedrijven N. V.
Westland Utrecht Hypotheekbank N.V.
Amstgeld Management AG
Amstgeld N.V.
Amstgeld Trust AG
Bouw En Exploitatiemaatschappij Deska XXIII B.V.
Charterhouse Vermogensbeheer B.V.
Hypothecair Belang Gaasperdam I N.V.
Assorti Beheer Amsterdam B.V.
Muidergracht Onroerend Goed B.V.
Amstel Gaasperdam B. V.
Bouw-, Exploitatie En Administratie Maatschappij Amer IV B.V.
N.V. Zeker Vast Gaasperdam
Rijn Gaasperdam B.V.
Juza Onroerend Goed B.V.
Hazo Immobilia B.V.
Kort Ambacht Maatschappij Tot Exploitatie Van Onroerende Goederen B.V.
Utrechtse Financierings Bank N.V.
Utrechtse Hypotheekbank N.V.
Algemeene Waarborgmaatschappij N.V.
Hypotheekbank Voor Nederland II N.V.
Hypotheekbank Voor Nederland N.V.
Standard Hypotheekbank N.V.
ING Bank Hypotheken N.V.
Nationale Hypotheekbank N.V.
Hollandsche Hypotheekbank N.V.
Zuid Nederlandsche Hypotheekbank N.V.
Vermogensplanning N.B.I. B.V.
W.U.H. Finanz A.G.
Westland/Utrecht Leasing B.V.
Berchem Onroerend Goed B.V.
Berkelse Poort B.V.
Beuke Poort B.V.
Brasemer Poort B.V.
Bruine Poort B.V.
Denne Poort B.V.
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Doetichem Immobilia B.V.
Dommelse Poort B.V.
Drechtse Poort B.V.
Eike Poort B.V.
Esse Poort B.V.
Frabu Immobilia B.V.
Friese Poort B.V.
Gelderse Poort B.V.
Gele Poort B.V.
Grijze Poort B.V.
Groninger Poort B.V.
Helo Immobilia B.V.
Holendrecht Gemeenschappelijk Beheer B.V.
Holendrecht Parking B.V.
Hollandse Poort B.V.
Iepe Poort B.V.
Kager Poort B.V.
Kilse Poort B.V.
Lekse Poort B.V.
Limburgse Waterpoort B.V.
Lingese Poort B.V.
Markse Poort B.V.
Oranje Poort B.V.
Paarse Poort B.V.
Reggese Poort B.V.
Roerse Poort B.V.
Schepa Immobilia B.V.
Sparre Poort B.V.
Spoolde B.V.
Spuise Poort B.V.
Thames Poort B.V.
Utrechtse Poort B.V.
Vechtse Poort B.V.
Vliestse Poort B.V.
Westland/Utrecht Bouwonderneming Wubo VI B.V.
Westland/Utrecht Bouwonderonderneming Wubo IV B.V.
Wilge Poort B.V.
Zeeuwse Poort B.V.
Westland/Utrecht Verzekeringen B.V.
Westlandsche Hypotheekbank N.V.
Algemeene Hypotheekbank N.V.
Hypotheekbank Maatschappij Voor Hypothecaire Crediet N.V.
Groningsche Hypotheekbank N.V.
Vaderlandsche Hypotheekbank N.V.
Zeeuwsche Hypotheekbank N.V.
Zuid-Hollandsche Hypotheekbank N.V.
Zugut B.V.
ING Verzekeringen N.V.
ING Insurance International B.V.
Nationale-Nederlanden Intervest II B.V.
ING North America Real Estate Holdings Inc.
ING Financial Services International (Asia) Ltd.
Nationale-Nederlanden Intervest XIII B.V.
Nationale-Nederlanden Intertrust B.V.
N.N. US Realty Corp
B.V. Nederlandsche Flatbouwmaatschappij
NN Korea
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ING Continental Europe Holdings B.V.
De Vaderlandsche N.V.
Nationale Omnium N.V.
De Vaderlandsche Spaarbank N.V.
RVS Financial Services N.V.
Fiducre N.V.
Sodefina S.A.
SA De Vaderlandsche Luxemburg
Immo "De Hertoghe" NV
Westland/Utrecht Hypotheekmaatschappij N.V.
Intermediair Services N.V.
RVS Verzekeringen N.V.
Gefinac N.V.
Proodos General Insurances S.A.
NN Mutual Fund Management Co.
The Seven Provinces International B.V.
Nationale-Nederlanden Magyarorszagi Biztosito Rt
NN Mutual Fund Services and Consulting Ltd.
ING Management Services s.r.o.
Prumy Penzijni fond a.s.
Nationale-Nederlanden Polska S.A.
Nationale-Nederlanden Poist'ovna S.A.
ING Management Services Slovensko spol s.r.o.
Nationale-Nederlanden Agencia de Valores S.A.
NN Romania Asigurari de Viata S.A.
Sviluppo Finanziaria
ING Investment Management Italy
NN Vida Compania de Seguros y Raeseguros S.A.
NN Generales Compania e Seguros y Raeseguros
Nationale-Nederlanden Pojistovna
ING Latin American Holdings
ING Insurance Chile Holdings Limitada
ING Seguros de Vida S.A.
NNOFIC
Nationale-Nederlanden (UK) Ltd.
NN (UK General) Ltd.
The Orion Insurance
ING Australia Limited
Mercantile Mutual Holdings Ltd.
Mercantile Mutual Funds Management
Mercantile Mutual Global Ltd.
Athelas
Mercantile Mutual Insurance (Australia) Ltd.
M.A.F.G. Ltd.
Mercantile Equities Ltd.
Greater Pacific (Leasing) Ltd.
Amfas Australia Pty Ltd.
Australian General Insurance Co. Ltd.
"The Seven Provinces" Insurance Underwriters
MM Investment Management Ltd.
The Mercantile Mutual Life Insurance Co. Ltd.
MML Properties Pty Ltd.
Mercantile Mutual Deposits Ltd.
Union Investment Co. Ltd.
Mercantile Mutual Securities Ltd.
Tazak Pty Ltd.
Mercantile Mutual Custodians Pty. Ltd.
<PAGE>
Mercantile Mutual Casualty Insurance Ltd.
Australian Brokers Holdings Ltd.
Australian Brokers Ltd.
Australian Community Insurance Ltd.
Mercantile Mutual Insurance (Workers Compensation) Ltd.
Mercantile Mutual Insurance (N.S.W. Workers Compensation) Ltd.
Prosafe Investments Ltd.
Dinafore Pty Ltd.
Tongkang Pty Ltd.
MM Investment Management
ING Canada Holdings Inc.
AFP Financial Services
ING Canada Inc.
The Halifax Insurance Company
Western Union Insurance Company
Wellington Insurance Company
La Compagnie d'Assurances Belair
The Commerce Group Insurance La Compagnie d'Assurances
NN Life Insurance Company of Canada
NN Funds Limited
NN Capital Management
NN Maple Leaf
ING America Insurance Holdings Inc.
Lion Connecticut Holdings, Inc.
Imperial Fire-Marine Re-Insurance Company Limited
Aetna Retirement Services, Inc.
Aetna Retirement Holdings, Inc.
Aetna Trust Company FSB
Aetna Services Holdling Company, Inc.
Systematized Benefits Administrators, Inc.
Aetna Retail Holding Company, Inc.
Aetna Financial Services, Inc.
Aetna Insurance Agency Holding Company, Inc.
Aetna Insurance Agency, Inc.
Aetna Insurance Agency of Ohio, Inc.(a)
Aetna Insurance Agency of Massachusetts, Inc.
Aetna Insurance Agency of Alabama, Inc.
FNI International, Inc.
Financial Network Investment Corporation
Financial Network Investment Corporation of Hawaii
FN Insurance Agency of Massachusetts, Inc.
FN Insurance Services, Inc.
FN Insurance Services of Alabama, Inc.
FN Insurance Services of Nevada, Inc.
Financial Network Investment Corporation of Kauai, Inc.
FN Insurance Agency, Kansas, Inc.
FN Insurance Agency, New Jersey, Inc.
FN Insurance Services HI, Inc.
Financial Network Investment Corporation, Honolulu, Inc.
Financial Network Investment Corporation, Puerto Rico, Inc.
Aetna Life Insurance and Annnuity Company
Aetna Insurance Company of America
Aetna Variable Encore Fund
Aetna Variable Fund
Aetna Income Shares
--------------------
(a) Non-voting interest
<PAGE>
Aetna New Series Fund, Inc.(b)
Aetna Series Fund
Aetna Generation Portfolios, Inc.
Portfolio Partners, Inc.(c)
Aetna GET Fund
Aetna Variable Portfolio, Inc.
Aetna Balanced VP, Inc.
Aetna Investment Services, LLC
Aetna Investment Adviser Holding Company, Inc.
Aeltus Investment Management, Inc.
Aetna Investment Management (bermuda) Holdings Lilmited
China Dynamic Investment Management (Hong Kong) Limited
Aeltus Trust Company
Aeltus Capital, Inc.
Elijah Asset Management, Limited Liability Company
Aetna International, Inc.
Aetna Life Insurance Company of America
Aetna Heart Investment Holdings Limited
Aetna Heart Co., Ltd. (Taiwan)
Aetna South Life Agency Co., Ltd. (Taiwan)
Aetna Life Insurance Agency Co. (Taiwan)
Huei Hong Securities Co., Ltd. (Taiwan)
Aetna Heart Publishing Company Ltd.
Aetna Sinopac Credit Card Company Limited
P.T. Aetna Life Indonesia
The Aetna Heiwa Life Insurance Company Limited (Japan)(d)
Aetna Confirmation Service Co. (Japan)
Helwa Information Conter
Aetna Premium Collection Co. (Japan)(e)
Aetna Leasing Co. (Japan)(f)
Aetna Capital Holdings, Inc.
Pacific-Aetna Life Insurance Co., Ltd.(g)
Aetna International Holdings (Hong Kong) I Limited
Aetna Life Insurance Company (Bermuda) Limited
East Asia Aetna Services Company Limited
Strategic Investors Asia Ltd.
Aetna International Fund Management, Inc.
Aetna Information Technology (Guanghzou) Limited
AII 1, L.L.C
AII 2, L.L.C
AII 3, L.L.C
AII 4, L.L.C
Aetna Argentina S.A.
Aetna Salud S.A.
Assistencia Medica Social Argentina S.A.
Aetna Vida S.A.
ALIAC Holdings, Inc.
Seguradora East Asia Aetna Macau S.A.R. L. (Macau)
Aetna International Holdings (Hong Kong) II Limited
Daya Aetna (Malaysia) SDN, BHD.
--------------------
(b) Aetna Life Insurance Company owns 1% of Aetna Series Fund, Inc.
(c) Aetna Insurance Company of America owns 3% of Portfolio Partners, Inc.
(d) Aetna Premium collection Co. owns 7.5% of this entity.
(e) The Aetna Heiwa Life Insurance Company Limited owns 10% of this entity
(f) Aetna Premium Collection Co. owns 35% of this entity, Heiwa Information
Center owns 35% of this entity.
(g) Aetna Life Insurance Company owns 1% of Pacific-Aetna Life Insurance Co.,
Ltd.
<PAGE>
Genesis Healthcare SDN, BHD
Aetna Universal Insurance Berhad
Aetna S.A.
Aetna Chile Seguros Generales S.A.
Aetna Administradora de Fondos de Inversion S.A.
Aetna Chile Seguros de Vida S.A.
Aetna Pensiones S.A.
Administradora de Fondos de Pensiones Santa Maria S.A.
Santa Maria Internacional S.A.
Aetna Pensiones Peru S.A. (Peru)(h)
Administradora de Fondos de Pensiones Integra S.A. (Peru)(i)
Aetna Credito Hipotecario, S.A.
Inmobilaria Padre Mariano S.A.(j)
Inmobilaria Inmarangatu S.A.
Asesories Previdencia (Chile)
Cruz-Blanca Isapre, S.A.(k)
Aetna Salud S.A.
Prosana S.A.(l)
Inversiones Cali Limitada
Inversiones Medellin Limitada
Rio Madgalena Limitada
Cruz Blanca EPS S.A. (Columbia)
Laboratorio Bio Imagen Limitada (Columbia)
Aetna International Peru S.A.(m)
Wiese Aetna Compania de Seguros S.A. (Peru)
Novasalud Peru S.A. Entidad Prestadora de Salud (Peru)
Arcelia Limited(n)
Aetna Life and Casualty International Finance N.V.
Aetna (Netherlands) Holdings B.V.
Sul America Aetna Seguros de Previdencia S.A.
Sul America Aetna Companhia Nacional de Seguros e Previdencia (Brazil) Sul
Sul America Servicos Medicos S.A.
Sualet Servicios Medicos (Brazil)
Brasilsaude Companhia de Segoros (Brazil)
Clube Dos Executivos, S.A.
Executivos S/A Administracao e Promocao de Seguros
Executivos Corretorae Administradora de Seguros S/C LTDA
Aetna Securiteis Investment Management (Taiwan)Ltd.
AE Five Incorporated
Aelan Inc.
The Aetna Heiwa Life Insurance Company Limited
Aetna MPF Limited(o)
Aetna Investment Management (Taiwan) Limited
Aetna (H.K.) Services Limited
PLJ Holdings Limited
Aetna Investment Management (F.E.) Limited
Osatspa Insurance Co. Ltd.
--------------------
(h) Aetna S.A. Owns 34% of this company
(i) Aetna Pensiones Peru S.A. owns 40% of this company
(j) Aetna S.A. owns 1% of this company
(k) Cruz Blanca Isapre also owns 25% of Health Group, S.A., which, in turn,
holds interests in various Chilean health companies. Cruz Blanca Isapre
also owns 25% of Cruz Blanca EPS (Columbia)
(l) Cruz Blanca Isapre, S.A. owns 50% interest in this entity.
(m) Aetna Chile Seguros de Vida S.A. and Aetna Chile Seguros Generales S.A.
have combined ownership of 14%
(n) Strategic Investors Asia Ltd. Owns 39% of Aetna Life Insurance Company
(Bermuda) Ltd.
(o) AII 1-4 L.L.C. holds a 50% interest in this company
<PAGE>
Osatspa Life Insurance Co., Ltd.
Aetna Phillipine Ventures, Inc.
Aetna Life Insurance Inc. (Philippines)
Aetna Healthcare, Inc. (Phillipines)
Aetna Trust Limited
Ameribest Life Insurance Company
CyberLink Development, Inc.
Equitable of Iowa Companies, Inc.
Directed Services, Inc.
Equitable Life Insurance Company of Iowa
USG Annuity & Life Company
Equi-Select Series Trust
Equitable of Iowa Companies Capital Trust
Equitable of Iowa Companies Capital Trust II
ING Funds Distributor, Inc.
Golden American Life Insurance Company
The GCG Trust
First Golden American Life Insurance Company of New York
ING Advisors Network, Inc.
ING Insurance Agency, Inc.
Investors Financial Group, Inc.
Carnegie Financial Corporation
Carnegie Securities Corporation
IFG Brokerage Corp.
IFG Insurance Agency of Oklahoma, Inc.(p)
IFG Insurance Agency of Texas, Inc.(p)
Compulife, Inc.
Compulife Agency, Inc.
IFG Advisory, Inc.
IFG Advisory Services, Inc.
National Alliance of Independent Portfolio Managers, Inc.
IFG Agency of Ohio, Inc.(p)
IFG Agency, Inc.
IFG Insurance Agency of Massachusetts, Inc.(p)
--------------------
(p) Company owned by individual pursuant to state law. Shareholder agreement
with parent company.
<PAGE>
IFG Insurance Services of Alabama, Inc.(p)
IFG Network, Inc.
IFG Services, Inc.
Investors Financial Planning Inc.
Compulife Investor Services, Inc.
IFG Network Securities, Inc.
Comprehensive Financial Services, Inc.
Nanis Investment Services, LLC
Pennington, Bass & Associates, Inc.
Planned Investment Resources, Inc.
Planned Investments, Inc.
Locust Street Securities, Inc.
LSSI Nevada, Inc.(p)
LSSI North Carolina, Inc.(p)
LSSI Ohio Agency, Inc.(p)
LSSI Texas, Inc.(p)
LSSI, Inc.(p)
United Life & Annuity Insurance Company
United Variable Services, Inc.
ING America Life Corporation
Life Insurance Company of Georgia
Powers Ferry Properties, L.P.
Springstreet Associates, Inc.
Life of Georgia Agency, Inc.
Southland Life Insurance Company
Security Life of Denver Insurance Company
Combined Financial Services, LLC(q)
Tailored Investment Notes Trust 1991-1
First ING Life Insurance Company of New York
First Secured Mortgage Deposit Corporation
ING America Equities
Midwestern United Life Insurance Company
Afore Bital ING, S.A. de C.V.
First Columbine Life Insurance Company
ING Funds Service Co., Inc.
ING Funds Trust(r)
ING Investment Management LLC(s)
ING Mutual Funds Management Company, LLC
ING North America Insurance Corporation
ING Seguros Sociedad Anonima de Capital Variable
ING Payroll Management, Inc.
ING Risk Management(Bermuda) Limited
ING Variable Insurance Trust(r)
Lion Custom Investments LLC
Lion Custom Investments II LLC
MIA Office Americas, Inc.
Multi-Financial Group, Inc.
--------------------
(q) ING Investment Management LLC owned 50% by ING America Insurance
Holdings, Inc. and 50% by Equitable of Iowa Companies, Inc.
(r) Entities owned by retail public investor. ING provides services to them
(s) Security Life and Denver holds a 40% membership interest in Combined
Financial Services, LLC, and 60% is held by two individuals.
<PAGE>
Multi-Financial Securities Corporation
Multi-Financial Securities Corporation Massachusetts(p)
Multi-Financial Securities Corporation of Ohio(p)
Multi-Financial Securities Corporation of Texas(p)
Orange Investment Enterprises, Inc.
Quichote, Inc.
QuickQuote Systems, Inc.
QuickQuote Financial, Inc.
ReliaStar Financial Corp.
ReliaStar Life Insurnace Company
NWNL Benefits Corporation
Northern Life Insurance Company
Nordic, Inc.
Security Connecticut Life Insurance Company
ReliaStar Reinsurance Group, Ltd.
ReliaStar Reinsurance Group (UK) Ltd.
Washington Square Insurance Agency, Inc.
Washington Square Insurance Agency, Inc. (Puerto Rico)
Washington Square Insurance Agency, Inc. (Ohio)
Washington Square Insurance Agency, Inc. (New Mexico)
IB Holdings LLC
Northeastern Corporation
The New Providence Ins. Co. LTD
ING Pilgrim Capital Corporation
ING Pilgrim Group, Inc.
ING Pilgrim Securities, Inc.
ING Pilgrim Funding, Inc.
ING Pilgrim Investments, Inc.
Pilgrim Financial, Inc.
Lexington Funds Distributor, Inc.
Market Systems Research Advisors, Inc.
Market Systems Research, Inc.
Lexington Global Asset Managers, LTC
ING Lexington Management Corporation
Piedmont Asset Advisors, LLC
Express America T.C. Corp.
EAMC Liquidation Corp
ReliaStar Investment Resdarch, Inc.
Successful Money Management Seminars, Inc.
PrimeVest Financial Services, Inc.
PrimeVest Insurance Agency of Alabama, Inc.
PrimeVest Insurance Agency of New Mexico, Inc.
PrimeVest Insurance Agency of Ohio, Inc.
Granite Investment Services, Inc.
Branson Insurance Agency, Inc.
Split Rock Financial, Inc.
Branwest Investment Services, Inc.
Branwest Insurance Agency, Inc.
Arrowhead Ltd.
ReliaStar Payroll Agent, Inc.
ReliaStar Managing Underwriters, Inc.
Financial Northeastern Corp
Financial Northeastern Securities, Inc.
FNC Inurance Services, Inc.
ING National Trust
Security Life Assignment Corp.
ING Seguros S.A. de C.V.
<PAGE>
United Protective Company
Security Life of Denver International Ltd.
SLR Management (Bermuda) Ltd.
UC Mortgage Corp.
Unit Investment Trusts(r)
United Life & Annuity Insurance Company
United Variable Services, Inc.
VESTAX Capital Corporation, Inc.
VESTAX Securities Corp.
VTX Agency Inc.
PMG Agency, Inc.
VTX Agency of Michigan, Inc.p
VTX Agency of Massachusetts, Inc.p
VTX Agency of Texas, Inc.p
ING US P&C Corporation
Diversified Settlements, Inc.
Peerless Insurance Company
The Netherlands Insurance Company
America First Insurance Company
Alabama First Insurance Company
Excelsior Insurance Company
Indiana Insurance
Consolidated Insurance Company
Cooling-Grumme-Mumford Company, Inc.
Blue Cross Medical Consultancy (Singapore) Pte. Ltd.
ING Indonesia Insurance P.T.
ING Life Insurance Japan
Nederlandse Reassurantie Groep Holding N.V.
Nederlandse Reassurantie Groep N.V.
NRG London Levensherverzekering
Algemene Levensherverzekering Maatschappij N.V.
Vereenigde Assurantie Bedrijven "Nederland" N.V.
Reassurantie Holding Nederland N.V.
Internationale Reassurantie Maatschappij Nederland N.V.
Reassurantie Maatschappij Nederland N.V.
Ruckversicherungs-Clearing A.G.
Reinsurers Marketing B.V.
N.V. Beleggingsmaatschappij NRG
Reassurantie Beleggingen N.V.
NRG Woningbouw B.V.
BMA Beleggingsmaatschappij "Alliance" B.V.
"Traviata" Onroerend Goed B.V.
The Victory Reinsurance Corporation of the Netherlands N.V.
NRG Victory Holdings Ltd.
NRG London Reinsurance Company Ltd.
NRG Fenchurch Insurance Company Ltd.
NRG Victory Australia Holdings Ltd.
NRG Victory Australia Ltd.
NRG Victory Reinsurance Corporation Ltd.
The Victory Health Reinsurance Corporation Ltd.
NRG Victory Management Ltd.
European Life Marketing & Actuarial Consultancy Ltd.
European Life Marketing & Actuarial Consultancy 92 Ltd.
Medical Expenses Development and Insurance Consultancy Services Ltd.
NRG Victory Management Services Ltd.
General Reinsurance Syndicate Ltd.
General Reinsurance Syndicate Ltd. (Trustee)
<PAGE>
London Reinsurance Comp. Ltd.
NRG Victory Life and Health Services Ltd.
NRG Victory Canada Management Ltd.
NRG Victory Management (Hong Kong) Ltd.
NRG America Holding Company
Philadelphia Reinsurance Corporation
NRG America Life Reassurance Corporation
NRG American Management Corporation
Market Run Off Services Ltd.
NRG Antillean Holding N.V.
NRG Antillean Reinsurance Company N.V.
NRG Victory International Ltd.
NRG Victory Management (Bermuda) Ltd.
SRO Run-Off Ltd. Bermuda
ING Life Insurance Co. (Phillippines)
ING Penta Life Insurance Indonesia P.T.
ING Insurance Consultants (HK) Ltd.
ING Reinsurance International Holding Co. Ltd.
ING Reinsurance International
Nationale-Nederlanden Nederland B.V.
Nationale-Nederlanden Schadeverzekering Maatschappij N.V.
H. van Veeren B.V.
Nationale-Nederlanden Greek General Insurance Company S.A.
Nationale-Nederlanden Levensverzekering Maatschappij N.V.
B.V. Beleggingsmaatschappij Berendaal
Consortium Scheveninggen B.V.
RVS Beroeps-en Bedrijfsfinanciering B.V.
De Bossche Poort B.V.
ING Vastgoed V B.V.
ING Vastgoed Belegging B.V.
B.V. Beleggingsmaatschappij Vinkendaal
Muggenburg Beheer B.V.
Muggenburg C.V.
ING REI Investment U.K. B.V.
Nationale-Nederlanden Real Estate Ltd.
ING Vastgoed Beheer Maatschappij I B.V.
ING Vastgoed Bewaar Maatschappij I B.V.
Nationale-Nederlanden Intervest 52 B.V.
Bouwfonds Nationale-Nederlanden B.V.
Nationale-Nederlanden Bouwfonds 1975 B.V.
Bouwfonds AVG B.V.
Bouwfonds Nemavo B.V.
Bouwfonds Anklaar-Apeldoorn 1967 B.V.
Bouwfonds Bilthoven 1969 B.V.
Bouwfonds Roveso B.V.
RVS Bouwfonds B.V.
Bouwfonds Utrecht 1967 B.V.
Amersfoort Premiewoningen B.V.
Bouwfonds Valken Staete B.V.
Nationale-Nederlanden Bouwfonds 1976 B.V.
ING Real Estate International Investment I B.V.
ING REI Investment U.K. B.V.
ING Vastgoed Fondsbelegging BV
Jetta Vastgoed B.V.
B.V. Algemene Beleggingsmaatschappij "Lapeg"
ING Insurance Argentina
Nationale-Nederlanden Greek Life Insurance Company S.A.
<PAGE>
RVS Levensverzekering N.V.
RVS Schadeverzekering N.V.
Tiel Utrecht Levensverzekering N.V.
Tiel Utrecht Schadeverzekering N.V.
Utrechtsche Algemeene Brandverzekering Maatschappij N.V.
Assurantiekantoor A Brugmans B.V.
Algemene Zeeuwse Verzekering Maatschappij N.V.
Apollonia Levensverzekering N.V.
N.V. Nationale Borg-Maatschappij
N.V. Belegging- en Beheer Maatschappij Keizersgracht
Antilliaanse Borg-Maatschappij N.V.
Amfas Exploitatie Maatschappij B.V.
AVG Exploitatie en Beheer B.V.
Amfas Hypotheken N.V.
Noordwester Hypotheken N.V.
Amfinex II B.V.
Westermij B.V.
Amfico B.V.
AVG Exploitatie I B.V.
ING Bewaar Maatschappij IV B.V.
S.C.P. AVG Investissement
Assurantiemaatschappij "De Zeven Provincien" N.V.
"Transatlantica" Herverzekering Maatschappij N.V.
"The Seven Provinces" Insurance Underwriters Ltd.
Ramus Insurance Ltd.
Tiel Utrecht Verzekerd Sparen N.V.
B.V. Algemene Beleggings Maatschappij Reigerdaal
Oostermij B.V.
Nationale-Nederlanden Pensioendiensten B.V.
Nationale-Nederlanden Zorgvezekering N.V.
B.V. Algemene Beleggingsmaatschappij "Kievietsdaal"
NeSBIC-Postbank B.V.
Nitido B.V.
Podocarpus Beheer B.V.
Parcom Ventures B.V.
Parcom Beheer BV
Parcom CV
Parcom Services BV
Postbank Schadeverzekering N.V.
Maatschappij tot Exploitatie van Onroerende Goederen "Gevers Deynootplein" BV
Maatschappij tot Exploitatie van Onroerende Goederen "Kurhaus" B.V.
Postbank Levensverzekering N.V.
RVS Beleggingen N.V.
Netherlands Life Insurance Company Ltd.
AO Artsen-Verzekeringen N.V.
Grabenstrasse Staete B.V.
ING Life Insurance International N.V.
Nationale-Nederlanden Internationale Schadeverzekering N.V.
Fatum Vermogensbeheer
N.V. Surinaamse Verzekeringsagenturen Maatschappij
Seguros Norman Moron N.V.
N.V. Arubaanse Verzekeringsagenturen Maatschappij
Nationale-Nederlanden Herverzekering Maatschappij N.V.
AVG Exploitatie IX B.V.
Jahnstrasze Gebaude B.V.
Maatschappij tot Exploitatie van Onroerende Goederen "Palace" B.V.
Nationale-Nederlanden Interfinance B.V.
<PAGE>
Maatschappij tot Exploitatie van Onroerende Goederen "Grand Hotel" B.V.
N.V. Haagsche Herverzekering Maatschappij van 1836
Baring Central European Investments B.V.
Baring Asian Flagship Investments B.V.
ING Fund Management B.V.
Wijkertunnel Beheer I B.V.
Nationale-Nederlanden Beleggingsrekening N.V.
Nationale-Nederlanden CSFR Real Estate v.o.s.
ING Bewaar Maattschappij I B.V
ING Vastgoed B.V.
ING Real Estate (Asia) PTE Ltd.
ING Real Estate North America Corporation
Nationale-Nederlanden Intervest XII B.V.
B.V. Algemene Beleggingsmaatschappij Van Markenlaan
Kantoorgebouw Johan de Wittlaan B.V.
Nationale-Nederlanden Holdinvest B.V.
Nationale-Nederlanden International Investment Advisors B.V.
B.V. Algemene Beleggingsmaatschappij Fazantendaal
Maatschappij Stadhouderslaan B.V.
DESKA LII B.V.
J.H. Alta en Co. B.V.
Westland/Utrecht Projektontwikkeling B.V.
Bouwonderneming Amer LII B.V.
ING Real Estate Colombo B.V.
Loeffpleingarage B.V.
B.V. Maatschappij tot Exploitatie van Onroerende Goederen Smeetsland
B.V. Vastgoedmaatschappij "Combuta"
B.V. Vastgoed Maatschappij "Promes"
Beheer- en Exploitatiemaatschappij "De Vestingwachter" B.V.
Nationale-Nederlanden Hypotheekbank N.V.
N.V. Arnhemsche Hypotheekbank voor Nederland
Nationale-Nederlanden Financiering Maatschappij B.V.
B.V. Betaalzegelbedrijf "De Voorzorg" J. van Ouwel
Nationale-Nederlanden Finance Corporation (Curacao) I.L.
Nationale-Nederlanden Vermogensbeheer B.V.
NeSBIC Nationale-Nederlanden B.V.
BOZ B.V.
ABV Staete B.V.
B.V. "De Administratie" Maatschappij tot Exploitatie van Onroerende Goederen
Amersfoort-Staete B.V.
Arnhem Staete B.V.
Belart Staete B.V.
Belart S.A.
N.V. Square Montgomery
Steenstaete S.A.
Berkel-Staete I B.V.
Berkel-Staete II B.V.
Blijenhoek Staete B.V.
S.N.C. Blijenhoek Staete et Cie
SNC Peau Bearn
Brussel Staete B.V.
Grote Markt Staete B.V.
Hoogoorddreef I B.V.
SNC Haven
Trompenburg Parking B.V.
Lena Vastgoed B.V.
S.A. du 59 Avenue d'lena
<PAGE>
SNC le Murier
Kleber Vastgoed B.V.
S.A. du 42 Avenue Kleber
B.V. De Oude Aa-Stroom
Portefeuille Staete B.V.
S.C.I. 1e Portefeuille
S.C.I. le Michelet
S.C.I. Roissy Bureaux International
S.C.I. Square d'Asnieres
SNC Le Dome
B.V. Amiloh
ING Vastgoed N.V.
Immo Management Service S.A.
S.A. Regent-Bruxelles
Nationale-Nederlanden/Immobilier S.A.R.L.
Immogerance S.A.R.L.
Nationale-Nederlanden Intervest IV B.V.
SAS Espace Daumesnil
Nationale-Nederlanden V B.V.
Nationale-Nederlanden VII B.V.
ING Real Estate Espace Daumesnil B.V.
ING Real Estate Parking Daumesnil Viaduc B.V.
SAS Parking Daumesnil Viaduc
Cadran Invest S.A.
ING Bewaar Maatschappij II B.V.
ING Bewaar Maatschappij III B.V.
ING REI Investment Spain B.V.
ING Inmeubles S.A.
ING Bewaar Maatschappij V B.V.
ING Asset Management B.V.
Postbank Verzekeringen Beheer Maatschappij B.V.
Postbank Verzekeringen Bewaar Maatschappij B.V.
ING Vastergoed B.V.
Nationale-Nederlanden Intervest IX B.V.
Nationale-Nederlanden CSFR Intervest S.R.O.
ING Real Estate Praha Housing a.s.
Nationale-Nederlanden Praha Real Estate V.O.S.
Nationale-Nederlanden Intervest XI B.V.
Nationale-Nederlanden Hungary Real Estate KFT
ING Investment Management (Hungary) Rt.
ING Investment Management (Asia Pacific) Limited
ING Investment Management (Czech Republic) S.A.
IIM India (India) Private Ltd.
ITEM 27. NUMBER OF CONTRACT OWNERS
As of December 31, 2000, there were 611,713 individuals holding interests
in variable annuity contracts funded through Variable Annuity Account C.
ITEM 28. INDEMNIFICATION
Section 33-779 of the Connecticut General Statutes ("CGS") 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 CGS. Reference is hereby made to Section 33-771(e) of the 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
<PAGE>
otherwise, indemnify their directors, officers, employees and agents against
"liability" (defined as the obligation to pay a judgment, settlement, penalty,
fine, including an excise tax assessed with respect to an employee benefit plan,
or reasonable expenses incurred with respect to a proceeding) when (1) a
determination is made pursuant to Section 33-775 that the party seeking
indemnification has met the standard of conduct set forth in Section 33-771 or
(2) a court has determined that indemnification is appropriate pursuant to
Section 33-774. Under Section 33-775, the determination of and the authorization
for indemnification are made (a) by the disinterested directors, as defined in
Section 33-770(3); (b) by special counsel; (c) by the shareholders; or (d) in
the case of indemnification of an officer, agent or employee of the corporation,
by the general counsel of the corporation or such other officer(s) as the board
of directors may specify. Also, Section 33-772 provides that a corporation shall
indemnify an individual who was wholly successful on the merits or otherwise
against reasonable expenses incurred by him in connection with a proceeding to
which he was a party because he was a director 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, employee or agent of the corporation. Consistent with the statute,
ING GROEP N.V. 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 for the
Registrant, Aetna Investment Services, LLC (AIS) also acts as the
principal underwriter for Aetna Income Shares, Aetna Variable Fund,
Aetna Variable Encore Fund, Aetna Balanced VP, Inc., Aetna Variable
Portfolios, Inc., Aetna Generation Portfolios, Inc., Aetna GET Fund,
and Portfolio Partners, Inc. (all management investment companies
registered under the Investment Company Act of 1940 (1940 Act)).
Additionally, AIS acts as the principal underwriter for Aetna Life
Insurance and Annuity Company (Aetna), 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). AIS 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).
<PAGE>
(b) The following are the directors and principal officers of the
Principal Underwriter:
<TABLE>
<CAPTION>
NAME AND PRINCIPAL POSITIONS AND OFFICES WITH
BUSINESS ADDRESS* PRINCIPAL UNDERWRITER
<S> <C>
Maureen M. Gillis Director and President
Allan Baker Director and Senior Vice President
Robert L. Francis Director and Senior Vice President
Marie Augsberger Senior Vice President
Steven A. Haxton Senior Vice President
Gary J. Hegedus Senior Vice President
Deborah Koltenuk Vice President, Treasurer and Chief Financial Officer
Therese Squillacote Vice President and Chief Compliance Officer
Martin T. Conroy Vice President and Assistant Treasurer
Reginald Bowen Vice President
Christina Lareau Vice President
Dwyatt McClain Vice President
Terran Titus Vice President
William T. Abramowicz Vice President
Douglas J. Ambrose Vice President
Louis E. Bachetti Vice President
Ronald R. Barhorst Vice President
Robert H. Barley Vice President
Steven M. Bresler Vice President
David Brounley Vice President
Daniel P. Charles Vice President
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NAME AND PRINCIPAL POSITIONS AND OFFICES WITH
BUSINESS ADDRESS* PRINCIPAL UNDERWRITER
<S> <C>
Brian D. Comer Vice President
Albert J. DiCristofaro, Jr. Vice President
John B. Finigan Vice President
Brian P. Harrington Vice President
Bernard P. Heffernon Vice President
William S. Jasien Vice President
Jess D. Kravitz Vice President
George D. Lessner Vice President
Katherine E. Lewis Vice President
Susan J. Lewis Vice President
James F. Lille Vice President
David J. Linney Vice President
Richard T. Mason Vice President
Joseph F. McClain Vice President
Pamela Mulvey Vice President
W. Michael Montgomery Vice President
Scott T. Neeb Vice President
Patrick F. O'Christie Vice President
Paulette Playce Vice President
Marcellous J. Reed Vice President
Charles A. Sklader Vice President
Frank W. Snodgrass Vice President
S. Bradford Vaughan, Jr. Vice President
Mark Woolhiser Vice President
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
NAME AND PRINCIPAL POSITIONS AND OFFICES WITH
BUSINESS ADDRESS* PRINCIPAL UNDERWRITER
<S> <C>
David A. Kelsey Assistant Vice President
John F. Todd Corporate Secretary and Counsel (Chief Legal Officer)
</TABLE>
*The principal business address of all directors and officers listed is:
151 Farmington Avenue, Hartford, Connecticut 06156
(c) Not Applicable
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
Aetna Service Center
18 Corporate Woods Blvd., Fourth Floor
P.O. Box 12894
Albany, New York 12212-2894
ITEM 31. MANAGEMENT SERVICES
Not applicable
ITEM 32. UNDERTAKINGS
Registrant hereby undertakes:
(a) to file a post-effective amendment to this registration statement on
Form N-4 as frequently as is necessary to ensure that the audited
financial statements in the registration statement are never more than
sixteen months old for as long as payments under the variable annuity
contracts may be accepted;
(b) to include as part of any application to purchase a contract offered by
a prospectus which is part of this registration statement on Form N-4,
a space that an applicant can check to request a Statement of
Additional Information; and
<PAGE>
(c) to deliver any Statement of Additional Information and any financial
statements required to be made available under this Form N-4 promptly
upon written or oral request.
(d) 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.
(e) 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, has caused this Post-Effective Amendment to its Registration
Statement on Form N-4 (File No. 33-81216) to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Hartford, State of
Connecticut, on the 19th day of January, 2001.
VARIABLE ANNUITY ACCOUNT C OF AETNA
LIFE INSURANCE AND ANNUITY COMPANY
(REGISTRANT)
By: AETNA LIFE INSURANCE AND ANNUITY
COMPANY
(DEPOSITOR)
By: Thomas J. McInerney*
--------------------------------
Thomas J. McInerney
President
As required by the Securities Act of 1933, this Post-Effective Amendment
No. 16 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>
Thomas J. McInerney* Director and President )
------------------------------------- (principal executive officer) )
Thomas J. McInerney )
)
Wayne R. Huneke* Director ) January
------------------------------------- )
Wayne R. Huneke ) 19, 2001
)
Phillip R. Lowery* Director )
------------------------------------- )
Phillip R. Lowery )
)
Robert C. Salipante* Director )
------------------------------------- )
Robert C. Salipante )
)
Mark A. Tullis* Director )
------------------------------------- )
Mark A. Tullis )
)
Michael W. Cunningham* Chief Financial Officer )
------------------------------------- )
Michael W. Cunningham )
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C>
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.4.5 Form of Endorsement (ESUNY401-01) to Contract G-401-IB(X/M)
and Certificate GC401-IB(X/M)
-----------------
99-B.9 Opinion and Consent of Counsel
-----------------
99-B.10 Consent of Independent Auditors
-----------------
99-B.14.1 Powers of Attorney
-----------------
</TABLE>
