PFL LIFE VARIABLE ANNUITY ACCOUNT A, 485BPOS, 2000-10-03

PFL LIFE VARIABLE ANNUITY ACCOUNT A
485BPOS, 2000-10-03

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<PAGE>

As filed with the Securities and Exchange Commission on October 3, 2000
------------------------
Registration No. 333 -26209
811 -08197

--------------------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

--------------------------------------------------------------------------------

FORM N-4

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [X]

Pre-Effective Amendment No.
-----

Post-Effective Amendment No. 4
-----

and

REGISTRATION STATEMENT UNDER THE
INVESTMENT COMPANY ACT OF 1940 [X]

Amendment No. 5
------

PFL LIFE VARIABLE ANNUITY ACCOUNT A
-----------------------------------
(Exact Name of Registrant)

PFL LIFE INSURANCE COMPANY
--------------------------
(Name of Depositor)

4333 Edgewood Road N.E., Cedar Rapids, Iowa 52499-0001
(Address of Depositor's Principal Executive Offices)

Depositor's Telephone Number, including Area Code

(319) 297-8468

Frank A. Camp, Esquire
PFL Life Insurance Company
4333 Edgewood Road, N.E.
Cedar Rapids, Iowa 52499-0001
(Name and Address of Agent for Service)

Copy to:

Frederick R. Bellamy, Esquire
Sutherland, Asbill and Brennan L.L.P.
1275 Pennsylvania Avenue, N.W.
Washington, D.C. 20004-2404
<PAGE>

Title of Securities Being Registered:
Flexible Premium Variable Annuity Policies

It is proposed that this filing will become effective:

X immediately upon filing pursuant to paragraph (b) of Rule 485
_______

_______ on __________ pursuant to paragraph (b) of Rule 485

_______ 60 days after filing pursuant to paragraph (a)(1) of Rule 485

_______ on __________ pursuant to paragraph (a)(1) of Rule 485

If appropriate, check the following box:

[_] this post-effective amendment designates a new effective date for a
previously filed post-effective amendment.
<PAGE>

The Prospectus and Statement of Additional Information of PFL Life Variable
Account A are hereby incorporated by reference to the Form N-4 Registration
Statement (333-26209 and 811-08197) filed on April 28, 2000.
<PAGE>

THE ATLAS PORTFOLIO BUILDER VARIABLE ANNUITY

Issued by

PFL Life Insurance Company

Supplement Dated October 9, 2000
to the
Prospectus dated May 1, 2000

Effective October 9, 2000, the following changes were made:

. Endeavor Value Equity Portfolio's advisor and investment policy were
changed and the portfolio and was renamed Capital Guardian Value Portfolio
(Endeavor Series Trust, subadvised by Capital Guardian Trust Company); and

. Janus Aspen--Worldwide Growth Portfolio--Service Shares (Janus Aspen
Series--Service Shares, managed by Janus Capital Corporation) was added as
an investment choice.

All defined terms used herein, which are not defined herein, shall have the
same meanings as the same terms used in the accompanying prospectus.

Janus Aspen--Worldwide Growth Portfolio--Service Shares may not currently be
available in all states. Please contact your financial representative for
additional information regarding the availability of that portfolio in your
state.

---------------------

The following information hereby supplements the Annuity Policy Fee Table
contained in the prospectus.

-------------------------------------------------------------------------------
ANNUITY POLICY FEE TABLE
-------------------------------------------------------------------------------
Portfolio Annual Expenses(/1/)
(as a percentage of average net assets and after expense reimbursements)
-------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Total
Management/ Rule Portfolio
Administrative Other 12b-1 Annual
Fees Expenses Fees Expenses
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Capital Guardian Value(/2/)(/3/)..... 0.85% 0.07% 0.08% 1.00%
Janus Aspen-Worldwide Growth-Service
Shares(/4/)......................... 0.65% 0.05% 0.25% 0.95%
</TABLE>
-------------------------------------------------------------------------------
(/1/) The fee table information relating to the underlying funds was provided to
PFL by the underlying funds, their investment advisers or managers, and
PFL has not and cannot independently verify the accuracy or completeness
of such information. Actual future expenses of the portfolios may be
greater or less than those shown in the Table. Therefore, PFL disclaims
any and all liability for such information.
(/2/) Capital Guardian Value Portfolio was formerly Endeavor Value Equity
Portfolio. On October 9, 2000, the portfolio's advisor and investment
policy were changed. The "Other Expenses" shown for 1999 were before these
changes occurred. The "Management Fees" shown are the current fees.
(/3/) The Board of Trustees of Endeavor Series Trust (the "Trust") have
authorized an arrangement whereby, subject to best price and execution,
executing brokers will share commissions with the Trust's affiliated
broker. Under supervision of the Trustees, the affiliated broker will use
the "recaptured commissions" to promote marketing of the Trust's shares.
The staff of the Securities and Exchange Commission believes that, through
the use of these recaptured commissions, the Trust is indirectly paying
for distribution expenses and such amounts are shown as 12b-1 fees in the
above table. The use of recaptured commissions to promote the sale of the
Trust's shares involves no additional costs to the Trust or any owner.
Endeavor Series Trust, based on advice of counsel, does not believe that
recaptured brokerage commissions should be treated as 12b-1 fees. For more
information on the Trust's Brokerage Enhancement Plan, see the Trust's
prospectus accompanying this prospectus.
<PAGE>

(/4/) The expenses in the Annuity Policy Fee Table are based on estimated
expenses the new Service Shares Class of each portfolio expects to incur
in its initial fiscal year.

EXAMPLES

The following information hereby supplements the Examples contained in the
prospectus.

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
If the Policy is
annuitized at
the end of the
If the policy is applicable time
surrendered period or if the
at the end of the Policy is still
applicable in the accumulation
time period. phase.
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1 3 5 10 1 3 5 10
Subaccounts Year Years Years Years Year Years Years Years
--------------------------------------------------------------------------------
Capital Guardian Value............ $ 87 $ 117 $ 148 $ 274 $ 24 $ 75 $ 128 $ 274
----------------------------------------------
Janus Aspen--Worldwide Growth--
Service Shares................... $ 87 $ 115 $ 146 $ 269 $ 24 $ 73 $ 126 $ 269
--------------------------------------------------------------------------------
</TABLE>

The above table will assist you in understanding the costs and expenses of the
policy and the underlying funds that you will bear, directly or indirectly.
These include the 1999 expenses of the underlying funds. In addition to the
expenses listed above, premium taxes, currently ranging from 0% to 2.35% of
premium payments may be applicable.

The examples should not be considered a representation of past or future
expenses, and actual expenses may be greater or less than those shown. The
assumed 5% annual return is hypothetical and should not be considered a
representation of past or future annual returns, which may be greater or less
than the assumed rate.

Financial Information. Condensed financial information for the subaccounts is
in Appendix A to this prospectus supplement.

APPENDIX A

CONDENSED FINANCIAL INFORMATION

The following information hereby supplements the Condensed Financial
Information contained in the prospectus.

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
Accumulation Number of
Unit Value Accumulation Accumulation
at Beginning Unit Value Units at End
of Year at End of Year of Year
------------------------------------------------------------------------------
<S> <C> <C> <C>
Capital Guardian Value Subaccount*
1999............................. $2.212928 $2.115695 506,137.294
1998............................. $2.086130 $2.212928 433,206.587
1997(/1/)........................ $2.048951 $2.086130 44,448.849
--------------------------------------------------------------------------------
</TABLE>
(/1/) Period from September 30, 1997 through December 31, 1997
* Prior to October 9, 2000, Capital Guardian Value Subaccount was called
Endeavor Value Equity Subaccount. The name was changed at that time to
reflect changes in the underlying portfolio advisor and investment
policies. The unit values shown reflect the portfolio's performance before
those changes.

The Janus Aspen--Worldwide Growth Subaccount--Service Shares had not commenced
operations as of December 31, 1999, therefore comparable information is not
available.

2
<PAGE>

APPENDIX B

HISTORICAL PERFORMANCE DATA
The following Tables hereby amend and replace the corresponding Historical
Performance Data Tables in the prospectus.

TABLE 1 Standard Average Annual Total Returns
-------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Inception
of the
1 Year 5 Year Subaccount Subaccount
Ended Ended to Inception
Subaccount 12/31/99 12/31/99 12/31/99 Date
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Atlas Balanced Growth.......... 22.02% N/A 14.38% September 30, 1997
AIM V.I. Growth Fund(/1/)...... N/A N/A N/A May 1, 2000
AIM V.I. Growth and Income
Fund(/1/)..................... N/A N/A N/A May 1, 2000
AIM V.I. Value Fund(/1/)....... N/A N/A N/A May 1, 2000
Alliance Growth(/1/)........... N/A N/A N/A May 1, 2000
Alliance Premier Growth(/1/)... N/A N/A N/A May 1, 2000
Alliance Technology(/1/)....... N/A N/A N/A May 1, 2000
Capital Guardian Value(/2/).... -9.99% N/A -0.42% September 30, 1997
The Dreyfus Socially
Responsible Growth
Fund, Inc.(/1/)............... N/A N/A N/A May 1, 2000
Dreyfus VIF--Appreciation...... 4.32% N/A 15.50% September 30, 1997
Dreyfus VIF--Disciplined Stock. 11.21% N/A 17.82% September 30, 1997
Dreyfus VIF--Growth and Income. 9.67% N/A 9.25% September 30, 1997
Dreyfus VIF--Quality Bond...... -6.81% N/A 0.50% September 30, 1997
Dreyfus VIF--Small Cap......... 15.85% N/A 2.06% September 30, 1997
Endeavor--Dreyfus Small Cap
Value......................... 22.00% N/A 4.98% September 30, 1997
T. Rowe Price Equity Income.... -3.56% N/A 4.01% September 30, 1997
T. Rowe Price Growth Stock..... 14.91% N/A 20.71% September 30, 1997
Federated High Income Bond Fund
II............................ -4.71% N/A -0.09% September 30, 1997
Federated Utility Fund II...... -5.31% N/A 9.50% September 30, 1997
Janus Aspen--Aggressive Growth
--Service Shares(/1/)......... N/A N/A N/A May 1, 2000
Janus Aspen--Balanced--Service
Shares(/1/)................... N/A N/A N/A May 1, 2000
Janus Aspen--Growth--Service
Shares(/1/)................... N/A N/A N/A May 1, 2000
Janus Aspen--International
Growth --Service Shares(/1/).. N/A N/A N/A May 1, 2000
Janus Aspen--Worldwide Growth
--Service Shares (/1/)........ N/A N/A N/A October 9, 2000
WRL Janus Global............... 63.15% N/A 36.80% September 30, 1997
WRL Janus Growth............... 51.87% N/A 47.73% September 30, 1997
WRL VKAM Emerging Growth....... 96.73% N/A 51.36% September 30, 1997
WRL Alger Aggressive
Growth(/1/)................... N/A N/A N/A May 1, 2000
--------------------------------------------------------------------------------
</TABLE>

(/1/) The AIM V.I. Growth Fund Subaccount, AIM V.I. Growth and Income Fund
Subaccount, AIM V.I. Value Fund Subaccount, Alliance Growth Subaccount,
Alliance Premier Growth Subaccount, Alliance Technology Subaccount, The
Dreyfus Socially Responsible Growth Fund, Inc. Subaccount, Janus Aspen--
Aggressive Growth Subaccount--Service Shares, Janus Aspen --Balanced
Subaccount--Service Shares, Janus Aspen--Growth Subaccount--Service
Shares, Janus Aspen--International Growth Subaccount--Service Shares,
Janus Aspen--Worldwide Growth Subaccount--Service Shares, and the WRL
Alger Aggressive Growth Subaccount had not commenced operations as of
December 31, 1999, therefore comparable information is not available.

(/2/) Prior to October 9, 2000, Capital Guardian Value Subaccount was called
Endeavor Value Equity Subaccount. The name was changed at that time to
reflect changes in the underlying portfolio's advisors and investment
policies. The performance figures shown reflect the portfolio's
performance before those changes.

3
<PAGE>

TABLE 2
Non-Standardized Average Annual Total Returns (Assuming No Surrender Charge)
-------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Inception
of the
1 Year 5 Year Subaccount Subaccount
Ended Ended to Inception
Subaccount 12/31/99 12/31/99 12/31/99 Date
--------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Atlas Balanced Growth.......... 27.62% N/A 15.95% September 30, 1997
AIM V.I. Growth Fund(/1/)...... N/A N/A N/A May 1, 2000
AIM V.I. Growth and Income
Fund(/1/)..................... N/A N/A N/A May 1, 2000
AIM V.I. Value Fund(/1/)....... N/A N/A N/A May 1, 2000
Alliance Growth(/1/)........... N/A N/A N/A May 1, 2000
Alliance Premier Growth(/1/)... N/A N/A N/A May 1, 2000
Alliance Technology(/1/)....... N/A N/A N/A May 1, 2000
Capital Guardian Value(/2/).... -4.39% N/A 1.43% September 30, 1997
The Dreyfus Socially
Responsible Growth
Fund, Inc.(/1/)............... N/A N/A N/A May 1, 2000
Dreyfus VIF--Appreciation...... 9.92% N/A 17.04% September 30, 1997
Dreyfus VIF--Disciplined Stock. 16.81% N/A 19.33% September 30, 1997
Dreyfus VIF--Growth and Income. 15.27% N/A 10.91% September 30, 1997
Dreyfus VIF--Quality Bond...... -1.21% N/A 2.33% September 30, 1997
Dreyfus VIF--Small Cap......... 21.45% N/A 3.86% September 30, 1997
Endeavor--Dreyfus Small Cap
Value......................... 27.60% N/A 6.71% September 30, 1997
T. Rowe Price Equity Income.... 2.04% N/A 5.76% September 30, 1997
T. Rowe Price Growth Stock..... 20.51% N/A 22.17% September 30, 1997
Federated High Income Bond Fund
II............................ 0.89% N/A 1.72% September 30, 1997
Federated Utility Fund II...... 0.29% N/A 11.15% September 30, 1997
Janus Aspen--Aggressive Growth
--Service Shares(/1/)......... N/A N/A N/A May 1, 2000
Janus Aspen--Balanced--Service
Shares(/1/)................... N/A N/A N/A May 1, 2000
Janus Aspen--Growth--Service
Shares(/1/)................... N/A N/A N/A May 1, 2000
Janus Aspen--International
Growth --Service Shares(/1/).. N/A N/A N/A May 1, 2000
Janus Aspen--Worldwide Growth
--Service Shares(/1/)......... N/A N/A N/A October 9, 2000
WRL Janus Global............... 68.75% N/A 38.05% September 30, 1997
WRL Janus Growth............... 57.47% N/A 48.87% September 30, 1997
WRL VKAM Emerging Growth....... 102.33% N/A 52.46% September 30, 1997
WRL Alger Aggressive
Growth(/1/)................... N/A N/A N/A May 1, 2000
</TABLE>

4
<PAGE>

TABLE 3
Adjusted Historical Average Annual Total Returns(/1/)
(Assuming No Surrender Charge)
-------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Corresponding
10 Year Portfolio
Portfolio 1 Year 5 Year or Inception Inception Date
---------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Atlas Balanced Growth Portfolio. 27.62% N/A 15.95% September 30, 1997
AIM V.I. Growth Fund............ 33.41% 27.88% 21.23% May 5, 1993
AIM V.I. Growth and Income Fund. 32.42% 26.43% 22.78% May 2, 1994
AIM V.I. Value Fund............. 28.13% 25.49% 21.37% May 5, 1993
Alliance Growth Portfolio(/2/).. 32.64% 29.56% 28.86% September 15, 1994
Alliance Premier Growth
Portfolio(/3/)................. 30.51% 34.18% 24.60% June 26, 1992
Alliance Technology
Portfolio(/4/)................. 73.37% N/A 34.06% January 11, 1996
Capital Guardian Value
Portfolio...................... -4.39% 15.14% 12.02% May 27, 1993
The Dreyfus Socially Responsible
Growth Fund, Inc. ............. 28.31% 26.91% 22.39% October 7, 1993
Dreyfus VIF--Appreciation
Portfolio...................... 9.92% 23.80% 18.39% April 5, 1993
Dreyfus VIF--Disciplined Stock
Portfolio...................... 16.81% N/A 24.42% May 1, 1996
Dreyfus VIF--Growth and Income
Portfolio...................... 15.27% 22.61% 19.25% May 2, 1994
Dreyfus VIF--Quality Bond
Portfolio...................... -1.21% 5.97% 6.51% August 31, 1990
Dreyfus VIF--Small Cap
Portfolio...................... 21.45% 14.34% 33.81% August 31, 1990
Endeavor --Dreyfus Small Cap
Value Portfolio................ 27.60% 16.26% 13.16% May 4, 1993
T. Rowe Price Equity Income
Portfolio...................... 2.04% N/A 16.10% January 3, 1995
T. Rowe Price Growth Stock
Portfolio...................... 20.51% N/A 25.63% January 3, 1995
Federated High Income Bond Fund
II............................. 0.89% 8.96% 6.55% February 2, 1994
Federated Utility Fund II....... 0.29% 13.66% 11.00% February 28, 1994
Janus Aspen--Aggressive Growth
Portfolio--Service Shares(/5/). 120.26% 33.99% 32.15% September 13, 1993
Janus Aspen--Balanced
Portfolio--Service Shares(/5/). 24.31% 22.85% 18.85% September 13, 1993
Janus Aspen--Growth Portfolio--
Service Shares(/5/)............ 41.08% 27.77% 22.16% September 13, 1993
Janus Aspen--International
Growth Portfolio--Service
Shares(/5/).................... 77.14% 31.36% 26.68% May 2, 1994
Janus Aspen--Worldwide Growth
Portfolio--Service Shares(/5/). 62.25% 31.78% 27.93% September 13, 1993
WRL Janus Global................ 68.75% 31.10% 26.14% December 3, 1992
WRL Janus Growth................ 57.47% 37.98% 21.92%+ October 2, 1986
WRL VKAM Emerging Growth........ 102.33% 40.98% 30.84% March 1, 1993
WRL Alger Aggressive Growth..... 66.75% 34.76% 28.57% March 1, 1994
---------------------------------------------------------------------------------
+ Ten Year Date
</TABLE>

(/1/) The calculation of total return performance for periods prior to inception
of the subaccounts reflects deductions for the mortality and expense risk
fee and administrative charge on a monthly basis, rather than a daily
basis. The monthly deduction is made at the beginning of each month and
generally approximates the performance that would have resulted if the
subaccounts had actually been in existence since the inception of the
portfolio.

(/2/) Returns prior to June 1, 1999 for the portfolios are based on historical
returns for Class A Shares.

(/3/) Returns prior to July 14, 1999 for the portfolios are based on historical
returns for Class A Shares.

(/4/) Returns prior to September 22, 1999 for the portfolios are based on
historical returns for Class A Shares.

(/5/) Returns prior to December 31, 1999 for the portfolios are based on
historical returns for Institutional Class of Shares.

5
<PAGE>

PART C OTHER INFORMATION

Item 24. Financial Statements and Exhibits

(a) Financial Statements

All required financial statements are included in Part B of this
Registration Statement. Note 4.

(b) Exhibits:

(1) (a) Resolution of the Board of Directors of PFL Life Insurance
Company authorizing establishment of the Mutual Fund
Account. Note 1.

(2) Not Applicable.

(3) (a) Form of Principal Distribution Agreement by and between PFL
Life Insurance Company on its own behalf and on the behalf
of the Mutual Fund Account, and AEGON USA Securities, Inc.
Note 1.

(a)(1) Form of Principal Distribution Agreement by and between
PFL Life Insurance Company on its own behalf and on
behalf of the Mutual Fund Account and AFSG Securities
Corporation. Note. 4.

(3)(a)(2) Termination of Principal Distribution Agreement by and
between PFL Life Insurance Company on its own behalf and or
the behalf of the Mutual Fund Account, and AEGON USA
Securities, Inc. Note 5.

(b) Form of Broker/Dealer Supervision and Sales Agreement by and
between AFSG Securities Corporation and the Broker/Dealer.
Note 4.

(4) Form of Policy for the Atlas Portfolio Builder Variable
Annuity. Note 3.

(5) Form of Application for the Atlas Portfolio Builder Variable
Annuity. Note 3.

(6) (a) Articles of Incorporation of PFL Life
Insurance Company. Note 1.

(b) ByLaws of PFL Life Insurance Company. Note 1.

(7) Not Applicable.

(8) (a) Participation Agreement by and between PFL Life Insurance
Company and Atlas Insurance Trust. Note 4.

(8) (b) Participation Agreement by and between PFL
Life Insurance Company and Dreyfus Variable
Investment Fund. Note 1.

<PAGE>

<TABLE>
<S> <C>
(8) (c) (1) Participation Agreement by and between PFL
Life Insurance Company and the Endeavor
Series Trust.
Note 2.

(8) (c) (3) Amendment to Schedule A of the Participation
Agreement by and between PFL Life Insurance
Company and Endeavor Series Trust. Note 8

(8) (d) Participation Agreement by and between PFL
Life Insurance Company and Federated
Insurance Series.
Note 3.

(8) (e) (1) Participation Agreement by and between PFL
Life Insurance Company and WRL Series Funds,
Inc., and addendums thereof.
Note 4.

(e) (2) Amended Schedule A to Participation Agreement.
Note 3.

(8) (e) (3) Amendment No. 12 to Participation Agreement among WRL
Series Fund, Inc., PFL Life Insurance Company, AUSA Life
Insurance Company, Inc., and Peoples Benefit Life
Insurance Company. Note 6

(8) (f) Participation Agreement by and among AIM Variable
Insurance Funds, Inc., PFL Life Insurance Company, and
AFSG Securities Corporation. Note 7

(8) (f) (1) Amendment No. 4 to Participation Agreement by and among
AIM Variable Insurance Funds, Inc., PFL Life Insurance
Company, AFSG Securities Corporation. Note 7

(8) (g) Participation Agreement by and among Alliance Variable
Products Series Fund, Inc., PFL Life Insurance Company,
AFSG Securities Corporation. Note 7

(8) (h) Participation Agreement by and among Janus Aspen Series
and PFL Life Insurance Company. Note 7

(8) (h) (1) Amendment No. 2 to Participation Agreement by and
between Janus Aspen Series and PFL Life Insurance
Company. Note 8

(9) Opinion and Consent of Counsel. Note 3.

(10) (a) Consent of Independent Auditors. Note 8.

(b) Opinion and Consent of Actuary. Note 4.

(11) Not applicable.

(12) Not applicable.

(13) Performance Data Calculations. Note 5.

(14) Powers of Attorney. Note 1. (Patrick S. Baird, Craig D.
Vermie, William L. Busler, Douglas C. Kolsrud, Robert J.
Kontz, Brenda K. Clancy.) Note 5. Larry N. Norman
</TABLE>

------------------------

Note 1. Filed with initial Registration Statement on Form N-4 (File
No. 333-26209) on April 30, 1997.

Note 2. Incorporated by reference to the Endeavor Series Trust
Post-Effective Amendment #14, Exhibit No. 6, (File No. 33-
27352), filed on April 29, 1996.

Note 3. Filed with Pre-Effective Amendment No. 1 on Form N-4 (File
No. 333-26209) on July 28, 1997.

Note 4. Filed with Post-Effective Amendment No. 1 on Form N-4 (File
No. 333-26209) on April 29, 1998.

Note 5. Filed with Post-Effective Amendment No. 2 on Form N-4 (File
No. 333-26209) on April 28, 1999.

Note 6. Filed with the Initial filing of Form N-4 Registration
Statement for the Access Variable Annuity (File No.
333-94489) on January 12, 2000.

Note 7. Filed with Post-Effective Amendment No. 3 to this Form
N-4 Registration Statement (File No. 333-26209) on
April 28, 2000.

Note 8. Filed herewith.

<PAGE>

Item 25. Directors and Officers of the Depositor

Principal Positions
Name and and Offices with
Business Address Depositor
---------------- ---------

Larry N. Norman Director, Chairman of the Board and
4333 Edgewood Road N.E. President
Cedar Rapids, Iowa
52499-0001

Patrick S. Baird Director, Senior Vice President and
4333 Edgewood Road N.E. Chief Operating Officer
Cedar Rapids, Iowa
52499-0001

Craig D. Vermie Director, Vice President, Secretary
4333 Edgewood Road N.E. and General Counsel
Cedar Rapids, Iowa
52499-0001

Douglas C. Kolsrud Director, Senior Vice President Chief
4333 Edgewood Road N.E. Investment Officer and Corporate
Cedar Rapids, Iowa Actuary
52499-0001

Bart Herbert, Jr. Director and Executive Vice
4333 Edgewood Road N.E. President
Cedar Rapids, Iowa
52499-0001

Robert J. Kontz Vice President and Corporate
4333 Edgewood Road N.E. Controller
Cedar Rapids, Iowa
52499-0001

Brenda K. Clancy Vice President, Treasurer and
4333 Edgewood Road N.E. Chief Financial Officer
Cedar Rapids, Iowa
52499-0001

Item 26. Persons Controlled by or Under Common Control with the Depositor
or Registrant

<TABLE>
<CAPTION>
Jurisdiction of Percent of Voting
Name Incorporation Securities Owned Business
---- --------------- ----------------- --------
<S> <C> <C> <C>
AEGON N.V. Netherlands 51.16% of Vereniging Holding company
AEGON Netherlands
Membership Association

Groninger Financieringen B.V. Netherlands 100% AEGON N.V. Holding company

AEGON Netherland N.V. Netherlands 100% AEGON N.V. Holding company

AEGON Nevak Holding B.V. Netherlands 100% AEGON N.V. Holding company

AEGON International N.V. Netherlands 100% AEGON N.V. Holding company

Voting Trust Trustees: Delaware Voting Trust
K.J. Storm
Donald J. Shepard H.B.
Van Wijk Dennis Hersch

AEGON U.S. Holding Corporation Delaware 100% Voting Trust Holding company

Short Hills Management Company New Jersey 100% AEGON U.S. Holding company
Holding Corporation

CORPA Reinsurance Company New York 100% AEGON U.S. Holding company
Holding Corporation

AEGON Management Company Indiana 100% AEGON U.S. Holding company
Holding Corporation

RCC North America Inc. Delaware 100% AEGON U.S. Holding company
Holding Corporation

AEGON USA, Inc. Iowa 100% AEGON U.S. Holding company
Holding Corporation

Transamerica Holding Company Delaware 100% AEGON USA, Inc. Holding Company

AEGON Funding Corp. Delaware 100% Transamerica Issue debt securities-net
Holding Company proceeds used to make
loans to affiliates

First AUSA Life Insurance Maryland 100% AEGON USA, Inc. Insurance holding company
Company

AUSA Life Insurance New York 82.33% First AUSA Life Insurance
Company, Inc. Insurance Company
17.67% Veterans Life
Insurance Company

Life Investors Insurance Iowa 100% First AUSA Life Ins. Co. Insurance
Company of America
</TABLE>
<PAGE>

<TABLE>
<S> <C> <C> <C>
Life Investors Alliance, LLC Delaware 100% LIICA Purchase, own, and hold the
equity interest of other entities

Great American Insurance Iowa 100% LIICA Marketing
Agency, Inc.

Bankers United Life Iowa 100% Life Investors Ins. Insurance
Assurance Company Company of America

PFL Life Insurance Company Iowa 100% First AUSA Life Ins. Co. Insurance

AEGON Financial Services Minnesota 100% PFL Life Insurance Co. Marketing
Group, Inc.

AEGON Assignment Corporation Kentucky 100% AEGON Financial Administrator of structured
of Kentucky Services Group, Inc. settlements

AEGON Assignment Corporation Illinois 100% AEGON Financial Administrator of structured
Services Group, Inc. settlements

Southwest Equity Life Ins. Co. Arizona 100% of Common Voting Stock Insurance
First AUSA Life Ins. Co.

Iowa Fidelity Life Insurance Co. Arizona 100% of Common Voting Stock Insurance
First AUSA Life Ins. Co.

Western Reserve Life Assurance Ohio 100% First AUSA Life Ins. Co. Insurance
Co. of Ohio

WRL Series Fund, Inc. Maryland Various Mutual fund

WRL Investment Services, Inc. Florida 100% Western Reserve Life Provides administration for
Assurance Co. of Ohio affiliated mutual fund

WRL Investment Florida 100% Western Reserve Life Registered investment advisor
Management, Inc. Assurance Co. of Ohio

ISI Insurance Agency, Inc. California 100% Western Reserve Life Insurance agency
And Subsidiaries Assurance Co. of Ohio

ISI Insurance Agency Alabama 100% ISI Insurance Agency, Inc. Insurance Agency
of Alabama, Inc.

ISI Insurance Agency Ohio 100% ISI Insurance Agency, Inc. Insurance agency
of Ohio, Inc.

ISI Insurance Agency Massachusetts 100% ISI Insurance Agency Inc. Insurance Agency
of Massachusetts, Inc.

ISI Insurance Agency Texas 100% ISI Insurance Agency, Inc. Insurance agency
of Texas, Inc.
</TABLE>
<PAGE>

<TABLE>
<S> <C> <C> <C>
ISI Insurance Agency Hawaii 100% ISI Insurance Insurance agency
of Hawaii, Inc. Agency, Inc.

ISI Insurance Agency New Mexico 100% ISI Insurance Insurance agency
New Mexico, Inc. Agency, Inc.

AEGON Equity Group, Inc. Florida 100% Western Reserve Life Insurance Agency
Assurance Co. of Ohio

Monumental General Casualty Co. Maryland 100% First AUSA Life Ins. Co. Insurance

United Financial Services, Inc. Maryland 100% First AUSA Life Ins. Co. General agency

Bankers Financial Life Ins. Co. Arizona 100% First AUSA Life Ins. Co. Insurance

The Whitestone Corporation Maryland 100% First AUSA Life Ins. Co. Insurance agency

Cadet Holding Corp. Iowa 100% First AUSA Life Holding company
Insurance Company

Monumental General Life Puerto Rico 51% First AUSA Life Insurance
Insurance Company of Insurance Company
Puerto Rico 49% Baldrich & Associates
of Puerto Rico

AUSA Holding Company Maryland 100% AEGON USA, Inc. Holding company

Monumental General Insurance Maryland 100% AUSA Holding Co. Holding company
Group, Inc.

Trip Mate Insurance Agency, Inc. Kansas 100% Monumental General Sale/admin. of travel
Insurance Group, Inc. insurance

Monumental General Maryland 100% Monumental General Provides management srvcs.
Administrators, Inc. Insurance Group, Inc. to unaffiliated third party
administrator

Executive Management and Maryland 100% Monumental General Provides actuarial consulting
Consultant Services, Inc. Administrators, Inc. services

Monumental General Mass Maryland 100% Monumental General Marketing arm for sale of
Marketing, Inc. Insurance Group, Inc. mass marketed insurance
coverages

AUSA Financial Markets, Inc. Iowa 100% AUSA Holding Co. Marketing

Transamerica Capital, Inc. California 100% AUSA Holding Co. Broker/Dealer

Endeavor Management Company California 100% AUSA Holding Co. Investment Management

Universal Benefits Corporation Iowa 100% AUSA Holding Co. Third party administrator
</TABLE>
<PAGE>

<TABLE>
<S> <C> <C> <C>
Investors Warranty of Iowa 100% AUSA Holding Co. Provider of automobile
America, Inc. extended maintenance
contracts

Massachusetts Fidelity Trust Co. Iowa 100% AUSA Holding Co. Trust company

Money Services, Inc. Delaware 100% AUSA Holding Co. Provides financial counseling
for employees and agents of
affiliated companies

ADB Corporation Delaware 100% Money Services, Inc. Special purpose limited
Liability company

ORBA Insurance Services, Inc. California 10.56% Money Services, Inc. Insurance agency

Zahorik Company, Inc. California 100% AUSA Holding Co. Broker-Dealer

ZCI, Inc. Alabama 100% Zahorik Company, Inc. Insurance agency

Zahorik Texas, Inc. Texas 100% Zahorik Company, Inc. Insurance agency

Long, Miller & Associates, L.L.C. California 33-1/3% AUSA Holding Co. Insurance agency

AEGON Asset Management Delaware 100% AUSA Holding Co. Registered investment advisor
Services, Inc.

InterSecurities, Inc. Delaware 100% AUSA Holding Co. Broker-Dealer

Associated Mariner Financial Michigan 100% InterSecurities, Inc. Holding co./management
Group, Inc. services

Associated Mariner Ins. Agency Massachusetts 100% Associated Mariner Insurance agency
of Massachusetts, Inc. Agency, Inc.

Associated Mariner Agency Ohio 100% Associated Mariner Insurance agency
Ohio, Inc. Agency, Inc.

Associated Mariner Agency Texas 100% Associated Mariner Insurance agency
Texas, Inc. Agency, Inc.

Idex Investor Services, Inc. Florida 100% AUSA Holding Co. Shareholder services

Idex Management, Inc. Delaware 100% AUSA Holding Investment advisor

IDEX Mutual Funds Massachusetts Various Mutual fund

Diversified Investment Delaware 100% AUSA Holding Co. Registered investment advisor
Advisors, Inc.

Diversified Investors Securities Delaware 100% Diversified Investment Broker-Dealer
Corp. Advisors, Inc.
</TABLE>
<PAGE>

<TABLE>
<S> <C> <C> <C>
George Beram & Company, Inc. Massachusetts 100% Diversified Investment Employee benefit and
Advisors, Inc. actuarial consulting

AEGON USA Securities, Inc. Iowa 100% AUSA Holding Co. Broker-Dealer (De-registered)

Creditor Resources, Inc. Michigan 100% AUSA Holding Co. Credit insurance

CRC Creditor Resources Canada 100% Creditor Resources, Inc. Insurance agency
Canadian Dealer Network Inc.

Weiner Agency, Inc. Maryland 100% Creditor Resources, Inc. Insurance agency

AEGON USA Investment Iowa 100% AUSA Holding Co. Investment advisor
Management, Inc.

AEGON USA Realty Iowa 100% AUSA Holding Co. Provides real estate
Advisors, Inc. administrative and real
estate investment services

AEGON USA Real Estate Delaware 100% AEGON USA Realty Real estate and mortgage
Services, Inc. Advisors, Inc. holding company

QSC Holding, Inc. Delaware 100% AEGON USA Realty Real estate and financial
Advisors, Inc. software production and sales

LRA, Inc. Iowa 100% AEGON USA Realty Real estate counseling
Advisors, Inc.

Landauer Associates, Inc. Delaware 100% AEGON USA Realty Real estate counseling
Advisors, Inc.

Landauer Realty Associates, Inc. Texas 100% Landauer Associates, Inc. Real estate counseling

Realty Information Systems, Inc. Iowa 100% AEGON USA Realty Information Systems for
Advisors, Inc. real estate investment
management

USP Real Estate Investment Trust Iowa 12.89% First AUSA Life Ins. Co. Real estate investment trust
13.11% PFL Life Ins. Co.
4.86% Bankers United Life
Assurance Co.

RCC Properties Limited Iowa AEGON USA Realty Advisors, Limited Partnership
Partnership Inc. is General Partner and 5%
owner.

Commonwealth General Delaware 100% AEGON USA, Inc. Holding company
Corporation ("CGC")

AFSG Securities Corporation Pennsylvania 100% CGC Broker-Dealer

Benefit Plans, Inc. Delaware 100% CGC TPA for Peoples Security Life
Insurance Company
</TABLE>
<PAGE>

<S> <C> <C> <C>
Durco Agency, Inc. Virginia 100% Benefit Plans, Inc. General agent

Capital 200 Block Corporation Delaware 100% CGC Real estate holdings

Capital Real Estate Delaware 100% CGC Furniture and equipment
Development Corporation lessor

Commonwealth General. Kentucky 100% CGC Administrator of structured
Assignment Corporation settlements

Diversified Financial Products Inc. Delaware 100% CGC Provider of investment,
marketing and admin. services
to ins. cos.

Monumental Agency Group, Inc. Kentucky 100% CGC Provider of srvcs. to ins. cos.

PB Investment Advisors, Inc. Delaware 100% CGC Registered investment advisor
(de-registered)

Southlife, Inc. Tennessee 100% CGC Investment subsidiary

Commonwealth General LLC Turks & 100% CGC Special-purpose subsidiary
Caicos Islands

Ampac Insurance Agency, Inc. Pennsylvania 100% CGC Provider of management
(EIN 23-1720755) support services

Compass Rose Development Pennsylvania 100% Ampac Insurance Special-purpose subsidiary
Corporation Agency, Inc.

Financial Planning Services, Inc. Dist. Columbia 100% Ampac Insurance Special-purpose subsidiary
Agency, Inc.

Frazer Association Illinois 100% Ampac Insurance TPA license-holder
Consultants, Inc. Agency, Inc.

National Home Life Corporation Pennsylvania 100% Ampac Insurance Special-purpose subsidiary
Agency, Inc.

Valley Forge Associates, Inc. Pennsylvania 100% Ampac Insurance Furniture & equipment lessor
Agency, Inc.

Veterans Benefits Plans, Inc. Pennsylvania 100% Ampac Insurance Administrator of group
Agency, Inc. insurance programs

Veterans Insurance Services, Inc. Delaware 100% Ampac Insurance Special-purpose subsidiary
Agency, Inc.
</TABLE>
<PAGE>

<S> <C> <C> <C>
Academy Insurance Group, Inc. Delaware 100% CGC Holding company

Academy Life Insurance Co. Missouri 100% Academy Insurance Insurance company
Group, Inc.

Pension Life Insurance New Jersey 100% Academy Life Insurance company
Company of America Insurance Company

FED Financial, Inc. Delaware 100% Academy Insurance Special-purpose subsidiary
Group, Inc.

Ammest Development Corp. Inc. Kansas 100% Academy Insurance Special-purpose subsidiary
Group, Inc.

Ammest Insurance Agency, Inc. California 100% Academy Insurance General agent
Group, Inc.

Ammest Massachusetts Massachusetts 100% Academy Insurance Special-purpose subsidiary
Insurance Agency, Inc. Group, Inc.

Ammest Realty, Inc. Pennsylvania 100% Academy Insurance Special-purpose subsidiary
Group, Inc.

Ampac, Inc. Texas 100% Academy Insurance Managing general agent
Group, Inc.

Ampac Insurance Agency, Inc. Pennsylvania 100% Academy Insurance Special-purpose subsidiary
(EIN 23-2364438) Group, Inc.

Force Financial Group, Inc. Delaware 100% Academy Insurance Special-purpose subsidiary
Group, Inc.

Force Financial Services, Inc. Massachusetts 100% Force Fin. Group, Special-purpose subsidiary
Inc.

Military Associates, Inc. Pennsylvania 100% Academy Insurance Special-purpose subsidiary
Group, Inc.

NCOAA Management Company Texas 100% Academy Insurance Special-purpose subsidiary
Group, Inc.

NCOA Motor Club, Inc. Georgia 100% Academy Insurance Automobile club
Group, Inc.

Unicom Administrative Pennsylvania 100% Academy Insurance Provider of admin. services
Services, Inc. Group, Inc.

Unicom Administrative Germany 100% Unicom Administrative Provider of admin. services
Services, GmbH Services, Inc.

</TABLE>
<PAGE>

<S> <C> <C> <C>
Capital General Development Delaware 100% CGC Holding company
Corporation

Monumental Life Maryland 73.23% Capital General Insurance company
Insurance Company Development Company
26.77% First AUSA Life
Insurance Company

AEGON Special Markets Maryland 100% Monumental Life Marketing company
Group, Inc. Insurance Company

Peoples Benefit Life Missouri 3.7% CGC Insurance company
Insurance Company 20.0% Capital Liberty, L.P.
76.3% Monumental Life
Insurance Company

Veterans Life Insurance Co. Illinois 100% Peoples Benefit Insurance company
Life Insurance Company

Peoples Benefit Services, Inc. Pennsylvania 100% Veterans Life Ins. Co. Special-purpose subsidiary

Coverna Direct Insurance Maryland 100% Peoples Benefit Insurance agency
Insurance Services, Inc. Life Insurance Company

Ammest Realty Corporation Texas 100% Monumental Life Special purpose subsidiary
Insurance Company

JMH Operating Company, Inc. Mississippi 100% Monumental Life Real estate holdings
Insurance Company

Capital Liberty, L.P. Delaware 99.0% Monumental Life Holding Company
Insurance Company
1.0% CGC

Transamerica Corporation Delaware 100% AEGON NV Major interest in insurance
and finance

Transamerica Pacific Insurance Hawaii 100% Transamerica Corp. Life insurance
Company, Ltd.

TREIC Enterprises, Inc. Delaware 100% Transamerica Corp. Investments

ARC Reinsurance Corporation Hawaii 100% Transamerica Corp. Property & Casualty Ins.

Transamerica Management, Inc. Delaware 100% ARC Reinsurance Corp. Asset management

Inter-America Corporation California 100% Transamerica Corp. Insurance Broker
</TABLE>
<PAGE>

<S> <C> <C> <C>
Pyramid Insurance Company, Ltd. Hawaii 100% Transamerica Corp. Property & Casualty Ins.

Pacific Cable Ltd. Bmda. 100% Pyramid Ins. Co., Ltd. Sold 25% of TC Cable, Inc.
stock in 1998

Transamerica Business Tech Corp. Delaware 100% Transamerica Corp. Telecommunications and
data processing

Transamerica CBO I, Inc. Delaware 100% Transamerica Corp. Owns and manages a pool of
high-yield bonds

Transamerica Corporation (Oregon) Oregon 100% Transamerica Corp. Name holding only-Inactive

Transamerica Finance Corp. Delaware 100% Transamerica Corp. Commercial & Consumer
Lending & equip. leasing

TA Leasing Holding Co., Inc. Delaware 100% Transamerica Fin. Corp. Holding company

Trans Ocean Ltd. Delaware 100% TA Leasing Hldg Co. Inc. Holding company

Trans Ocean Container Corp. Delaware 100% Trans Ocean Ltd. Intermodal Leasing
("TOCC")

SpaceWise Inc. Delaware 100% TOCC Intermodal leasing

Trans Ocean Container Finance Corp. Delaware 100% TOCC Intermodal leasing

Trans Ocean Leasing Deutschland GmbH Germany 100% TOCC Intermodal leasing

Trans Ocean Leasing PTY Ltd. Austria 100% TOCC Intermodal leasing

Trans Ocean Management S.A. Switzerland 100% TOCC Intermodal leasing

Trans Ocean Regional
Corporate Holdings California 100% TOCC Holding company

Trans Ocean Tank Services Corp. Delaware 100% TOCC Intermodal leasing

Transamerica Leasing Inc. Delaware 100% TA Leasing Holding Co. Leases & Services intermodal
equipment

Transamerica Leasing Holdings Delaware 100% Transamerica Leasing Inc. Holding Company
Inc. ("TLHI")

Greybox Logistics Services Inc. Delaware 100% TLHI Intermodal Leasing
</TABLE>
<PAGE>

<TABLE>
<S> <C> <C> <C>
Greybox L.L.C. Delaware 100% TLHI Intermodal freight container
interchange facilitation
service

Transamerica Trailer France 100% Greybox L.L.C. Leasing
Leasing S.N.C.

Greybox Services Limited U.K. 100% TLHI Intermodal Leasing

Intermodal Equipment, Inc. Delaware 100% TLHI Intermodal leasing

Transamerica Leasing N.V. Belg. 100% Intermodal Equipment Inc. Leasing

Transamerica Leasing SRL ` Italy 100% Intermodal Equipment Inc. Leasing

Transamerica Distribution Delaware 100% TLHI Provided door-to-door
Services, Inc. services for the domestic
transportation of temperature-
sensitive products

Transamerica Leasing Belg. 100% TLHI Leasing
Coordination Center

Transamerica Leasing do Braz. 100% TLHI Container Leasing
Brasil Ltda.

Transamerica Leasing GmbH Germany 100% TLHI Leasing

Transamerica Leasing Limited U.K. 100% TLHI Leasing

ICS Terminals (UK) Limited U.K. 100% Transamerica. Leasing
Leasing Limited

Transamerica Leasing Pty. Ltd. Australia 100% TLHI Leasing

Transamerica Leasing (Canada) Inc. Canada 100% TLHI Leasing

Transamerica Leasing (HK) Ltd. H.K. 100% TLHI Leasing

Transamerica Leasing S. Africa 100% TLHI Intermodal leasing
(Proprietary) Limited

Transamerica Tank Container Australia 100% TLHI The Australian (domestic)
Leasing Pty. Limited leasing of tank containers

Transamerica Trailer Holdings I Inc. Delaware 100% TLHI Holding company

Transamerica Trailer Holdings II, Inc. Delaware 100% TLHI Holding company
</TABLE>
<PAGE>

<TABLE>
<S> <C> <C> <C>
Transamerica Trailer Holdings III, Inc. Delaware 100% TLHI Holding company

Transamerica Trailer Leasing AB Swed. 100% TLHI Leasing

Transamerica Trailer Leasing AG Switzerland 100% TLHI Leasing

Transamerica Trailer Leasing A/S Denmark 100% TLHI Leasing

Transamerica Trailer Leasing GmbH Germany 100% TLHI Leasing

Transamerica Trailer Leasing Belgium 100% TLHI Leasing
(Belgium) N.V.

Transamerica Trailer Leasing Netherlands 100% TLHI Leasing
(Netherlands) B.V.

Transamerica Trailer Spain S.A. Spain 100% TLHI Leasing

Transamerica Transport Inc. New Jersey 100% TLHI Dormant

Transamerica Commercial Delaware 100% Transamerica Fin. Corp. Holding company for
Finance Corporation, I ("TCFCI") Commercial/consumer
finance subsidiaries

Transamerica Equipment Financial Delaware 100% TCFCI
Services Corporation

BWAC Credit Corporation Delaware 100% TCFCI

BWAC International Corporation Delaware 100% TCFCI

BWAC Twelve, Inc. Delaware 100% TCFCI Holding company for
premium finance subsidiaries

TIFCO Lending Corporation Illinois 100% BWAC Twelve, Inc. General financing & other
services in the US & elsewhere

Transamerica Insurance Finance Maryland 100% BWAC Twelve, Inc. Provides insurance premium
Corporation ("TIFC") financing in the US with the
exception of CA and HI

Transamerica Insurance Finance Maryland 100% TIFC Provides Insurance premium
Company (Europe) financing in California

Transamerica Insurance Finance California 100% TIFC Disability ins. & holding co.
Corporation, California for various insurance
subsidiaries of Transamerica
Corporation
</TABLE>
<PAGE>

<TABLE>
<S> <C> <C> <C>
Transamerica Insurance Finance ON 100% TIFC Provides ins. premium
Corporation, Canada financing in Canada

Transamerica Business Credit Delaware 100% TCFCI Provides asset based lending
Corporation ("TBCC") leasing & equip. financing

Transamerica Mezzanine Delaware 100% TBCC Holds investments in several
Financing, Inc. joint ventures/partnerships

Transamerica Business Advisory Grp. Delaware 100% TBCC

Bay Capital Corporation Delaware 100% TBCC Special purpose company for
the purchase of real estate tax
liens

Coast Funding Corporation Delaware 100% TBCC Special purpose company for
the purchase of real estate tax
liens

Transamerica Small Business Delaware 100% TBCC
Capital, Inc. ("TSBC")

Emergent Business Capital Delaware 100% TSBC
Holdings, Inc.

Gulf Capital Corporation Delaware 100% TBCC Special purpose company for
the purchase of real estate tax
liens

Direct Capital Equity Investment, Inc. Delaware 100% TBCC Small business loans

TA Air East, Corp Delaware 100% TBCC Special purpose corp. which
hold an ownership interest
or leases aircraft

TA Air I, Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest
or leases aircraft

TA Air II, Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest
or leases aircraft

TA Air III, Corp. Delaware 100% TBCC special purpose corp. which
hold an ownership interest
or leases aircraft
</TABLE>
<PAGE>

<TABLE>
<S> <C> <C> <C>
TA Air IV, Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest
or leases aircraft

TA Air V, Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest
or leases aircraft

TA Air VI, Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest
or leases aircraft

TA Air VII, Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest or
leases aircraft

TA Air VIII, Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest or
leases aircraft

TA Air IX, Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest
or leases aircraft

TA Air X, Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest
or leases aircraft

TA Air XI, Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest
or leases aircraft

TA Air XII, Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest
or leases aircraft

TA Air XIII, Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest
or leases aircraft

TA Air XIV, Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest
or leases aircraft

TA Air XV, Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest
or leases aircraft
</TABLE>
<PAGE>

<TABLE>
<S> <C> <C> <C>
TA Marine I Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest or
leases barges or ships

TA Marine II Corp. Delaware 100% TBCC Special purpose corp. which
hold an ownership interest or
leases barges or ships

TBC I, Inc. Delaware 100% TBCC Special purpose corp.

TBC II, Inc. Delaware 100% TBCC Special purpose corp.

TBC III, Inc. Delaware 100% TBCC Special purpose corp.

TBC IV, Inc. Delaware 100% TBCC Special purpose corp.

TBC V, Inc. Delaware 100% TBCC Special purpose corp.

TBC VI, Inc. Delaware 100% TBCC Special purpose corp.

TBC Tax I, Inc. Delaware 100% TBCC Special purpose co. for the
purchase of real estate tax lien

TBC Tax II, Inc. Delaware 100% TBCC Special purpose co. for the
purchase of real estate tax lien

TBC Tax III, Inc. Delaware 100% TBCC Special purpose co. for the
purchase of real estate tax lien

TBC Tax IV, Inc. Delaware 100% TBCC Special purpose co. for the
purchase of real estate tax lien

TBC Tax V, Inc. Delaware 100% TBCC Special purpose co. for the
purchase or real estate tax lien

TBC Tax VI, Inc. Delaware 100% TBCC Special purpose co. for the
purchase or real estate tax lien

TBC Tax VII, Inc. Delaware 100% TBCC Special purpose co. for the
purchase or real estate tax lien

TBC Tax VIII, Inc. Delaware 100% TBCC Special purpose co. for the
purchase of real estate tax lien

TBC Tax IX, Inc. Delaware 100% TBCC Special purpose co. for the
purchase of real estate tax lien
</TABLE>

<PAGE>

<TABLE>
<S> <C> <C> <C>
The Plain Company Delaware 100% TBCC Special purpose corp. which
hold an ownership interest or
leases aircraft.

Transamerica Distribution Delaware 100% TCFCI Holding corp. for inventory,
Finance Corporation ("TDFC") comm. Leasing, retail finance
comm. Recovery service and
accounts

Transamerica Accounts Holding Corp. Delaware 100% TDFC

Transamerica Commercial Delaware 100% TDFC Wholesale floor plan for
Finance Corporation ("TCFC") appliances, electronics,
computers, office equip. and
marine equipment.

Transamerica Acquisition Canada 100% TCFC Holding company
Corporation, Canada

Transamerica Distribution Finance Delaware 100% TCFC
Corporation - Overseas, Inc.
("TDFCO")

TDF Mauritius Limited Mauritius 100% TDFCO Mauritius holding company
of our Indian Joint Venture

Inventory Funding Trust Delaware 100% TCFC

Inventory Funding Company, LLC Delaware 100% Inventory Funding Trust

TCF Asset Management Corporation Colorado 100% TCFC A depository for foreclosed
real and personal property

Transamerica Joint Ventures, Inc. Delaware 100% TCFC To enter into general partner-
ships for the ownership of
comm. & finance business

Transamerica Inventory Delaware 100% TDFC Holding co. for inventory
Finance Corporation ("TIFC") finance subsidiaries

Transamerica GmbH, Inc. Delaware 100% TIFC Commercial lending in
Germany

Transamerica Fincieringsmaatschappij
B.V. Netherlands 100% Trans. GmbH, Inc. Commercial lending in
Europe
</TABLE>

<PAGE>

<TABLE>
<S> <C> <C> <C>
BWAC Seventeen, Inc. Delaware 100% TIFC Holding co. for principal
Canadian operation, Trans-
America Comm. Finance
Corp, Canada

Transamerica Commercial ON 100% BWAC Seventeen, Inc. Shell corp.- Dormant
Finance Canada, Limited

Transamerica Commercial Canada 100% BWAC Seventeen, Inc. Commercial finance
Finance Corporation, Canada

BWAC Twenty-One, Inc. Delaware 100% TIFC Holding co. for United
Kingdom operation, Trans-
America Comm. Finance
Limited

Transamerica Commercial U.K. 100% BWAC Twenty-One Inc. Commercial lending in the
Finance Limited ("TCFL") United Kingdom.

Whirlpool Financial Corporation 100% TCFL Inactive commercial finance
Polska Spzoo Company in Poland

Transamerica Commercial U.K. 100% BWAC Twenty-One Inc. Holding Company
Holdings Limited

Transamerica Commercial Finance U.K. 100% Trans. Commercial
Limited Holdings Limited

Transamerica Commercial Finance France 100% BWAC Twenty-One Inc. Carries out factoring trans-
France S.A. actions in France & abroad

Transamerica GmbH Inc. Delaware 100% BWAC Twenty-One Inc. Holding co. for Transamerica
Financieringsmaatschappij
B.V.

Transamerica Retail Financial Delaware 100% TIFC Provides retail financing
Services Corporation ("TRFSC")

Transamerica Bank, NA Delaware 100% TRFSC Bank (Credit Cards)

Transamerica Consumer Finance Delaware 100% TRFSC Consumer finance holding
Holding Company ("TCFHC") company

Transamerica Mortgage Company Delaware 100% TCFHC Consumer mortgages

Transamerica Consumer Mortgage Delaware 100% TCFHC Securitization company
Receivables Company

Metropolitan Mortgage Company Florida 100% TCFHC Consumer mortgages
</TABLE>

<PAGE>

<TABLE>
<S> <C> <C> <C>
Easy Yes Mortgage, Inc. Florida 100% Metropolitan Mtg. Co. No active business/Name
holding only

Easy Yes Mortgage, Inc. Georgia 100% Metropolitan Mtg. Co. No active business/Name
holding only

First Florida Appraisal Services, Inc. Georgia 100% Metropolitan Mtg. Co. Appraisal and inspection
services

First Georgia Appraisal Services, Inc. Georgia 100% First FL App. Srvc, Inc. Appraisal services

Freedom Tax Services, Inc. Florida 100% Metropolitan Mtg. Co. Property tax information
services

J.J. & W. Advertising, Inc. Florida 100% Metropolitan Mtg. Co. Advertising and marketing
services

J.J. & W. Realty Corporation Florida 100% Metropolitan Mtg. Co. To hold problem REO
properties

Liberty Mortgage Company of Florida 100% Metropolitan Mtg. Co. No active business/Name
Ft. Myers, Inc. holding only

Metropolis Mortgage Company Florida 100% Metropolitan Mtg. Co. No active business/Name
holding only

Perfect Mortgage Company Florida 100% Metropolitan Mtg. Co. No active business/Name
holding only

Transamerica Vendor Financial Srvc. Delaware 100% TDFC Provides commercial lease

Transamerica Distribution Finance 100% TCFCI
Corporation de Mexico ("TDFCM")

TDF de Mexico Mexico 100% TDFCM

Transamerica Corporate Services 100% TDFCM
De Mexico

Transamerica Home Loan California 100% TFC Consumer mortgages

Transamerica Lending Company Delaware 100% TFC Consumer lending

Transamerica Financial Products, Inc. California 100% Transamerica Corp. Service investments

Transamerica Insurance Corporation California 100% Transamerica Corp. Provides insurance premium
of California ("TICC") financing in California
</TABLE>

<PAGE>

<TABLE>
<S> <C> <C> <C>
Arbor Life Insurance Company Arizona 100% TICC Life insurance, disability
insurance

Plaza Insurance Sales Inc. California 100% TICC Casualty insurance placement

Transamerica Advisors, Inc. California 100% TICC Retail sale of investment
advisory services

Transamerica Annuity Services Corp. New Mexico 100% TICC Performs services required for
structured settlements

Transamerica Financial Resources, Inc. Delaware 100% TICC Retail sale of securities
products

Financial Resources Insurance Texas 100% Transamerica Fin. Res. Retail sale of securities
Agency of Texas products

TBK Insurance Agency of Ohio, Inc. Ohio 100% Transamerica Fin. Res. Variable insurance contract
sales in state of Ohio

Transamerica Financial Resources Alabama 100% Transamerica Fin. Res. Insurance agent & broker
Agency of Alabama, Inc.

Transamerica Financial Resources Ins. Massachusetts 100% Transamerica Fin. Res. Insurance agent & broker
Agency of Massachusetts, Inc.

Transamerica International Insurance Delaware 100% TICC Holding & administering
Services, Inc. ("TIIS") foreign operations

Home Loans and Finance Ltd. U.K. 100% TIIS Inactive

Transamerica Occidental Life California 100% TICC Licensed in all forms of life
Insurance Company ("TOLIC") insurance, accident and
sickness insurance

NEF Investment Company California 100% TOLIC Real estate development

Transamerica Life Insurance and N. Carolina 100%TOLIC Writes life and pension ins.
Annuity Company ("TLIAC") originally incorporated in CA
April 14, 1966

Transamerica Assurance Company Missouri 100% TLIAC Life and disability insurance

Gemini Investments, Inc. Delaware 100% TLIAC Investment subsidiary

Transamerica Life Insurance Company Canada 100% TOLIC Sells individual life insurance
of Canada & investment products in all
provinces and territories of
Canada
</TABLE>
<PAGE>

<TABLE>
<S> <C> <C> <C>
Transamerica Life Insurance Company New York 100% TOLIC Licensed in NY to market life
of New York insurance, annuities and
health insurance

Transamerica South Park Delaware 100% TOLIC Provide market analysis of
Resources, Inc. certain undeveloped land
holdings held by TOLIC

Transamerica Variable Insurance Maryland 100% TOLIC Mutual Fund
Fund, Inc.

USA Administration Services, Inc. Kansas 100% TOLIC Third party administrator

Transamerica Products. Inc. California 100% TICC Parent co. of various
subsidiary corp. which are
formed to be co-general
partners of proprietary limited

Transamerica Securities Sales Corp. Maryland 100% Transamerica Prod. Inc. Retail sale of the variable life
ins. and variable annuity
products of the Transamerica
life companies

Transamerica Service Company Delaware 100% Transamerica Prod. Inc. Passive loss tax service for
Lloyd's U.S. names

Transamerica Intellitech, Inc. Delaware 100% TICC Real estate information and
technology services

Transamerica International Delaware 100% TICC Investments
Holdings, Inc.

Transamerica Investment Services, Inc. Delaware 100% TICC Investment adviser

Transamerica Income Shares, Inc. Maryland 100% Trans. Invest. Srvc. Inc. Transamerica investment
services

Transamerica LP Holdings Corp. Delaware 100% TICC Limited partnership
Investment (initial limited
partner of Transamerica
Delaware, L.P.)

Transamerica Real Estate Tax Service N/A 100% TICC Real estate tax reporting and
(A Division of Transamerica Corp) processing services

Transamerica Realty Services, Inc. Delaware 100% TICC Responsible for real estate
investments for Transamerica
</TABLE>
<PAGE>

<TABLE>
<S> <C> <C> <C>
Bankers Mortgage Company of CA California 100% Transamerica Realty Srv. Holds bank account and owns
certain residual investments in
certain French real estate
projects which are managed
special purpose company for
the purchase of real estate tax
liens.

Pyramid Investment Corporation Delaware 100% Transamerica Realty Srv. Owns office buildings in San
Francisco and other properties

The Gilwell Company California 100% Transamerica Realty Srv. Ground lessee of 517
Washington Street,
San Francisco

Transamerica Affordable Housing, Inc. California 100% Transamerica Realty Srv. Owns general partnership
interests in low-income
housing tax credit
partnerships

Transamerica Minerals Company California 100% Transamerica Realty Srv. Owner and lessor of oil and
gas properties

Transamerica Oakmont Corporation California 100% Transamerica Realty Srv. General partner in
Transamerica/Oakmont
Retirement Associates

Transamerica Senior Properties, Inc. Delaware 100% TICC Owns congregate care and
assisted living retirement
Properties

Transamerica Senior Living, Inc. Delaware 100% Trans. Sr. Prop. Inc. Manages congregate care and
assisted living retirement
properties.
</TABLE>
<PAGE>

Item 27. Number of Contract Owners.

As of December 31, 1999, there were 4,464 Owners of the Policies.

Item 28. Indemnification

The Iowa Code (Sections 490.850 et. seq.) provides for permissive
--------
indemnification in certain situations, mandatory indemnification in other
situations, and prohibits indemnification in certain situations. The Code also
specifies procedures for determining when indemnification payments can be made.

Insofar as indemnification for liabilities arising under the Securities Act of
1933 may be permitted to directors, officers and controlling persons of the
Depositor pursuant to the foregoing provisions, or otherwise, the Depositor 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 Depositor of expenses incurred
or paid by a director, officer or controlling person in connection with the
securities being registered), the Depositor 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 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.

Item 29. Principal Underwriters

AFSG Securities Corporation
4333 Edgewood Road N.E.
Cedar Rapids, IA 52499-0001

The directors and officers of
AFSG Securities Corporation
are as follows:

Larry N. Norman Ann Spaes
Director and President Director and Vice President

Frank A. Camp Darin Smith
Secretary Assistant Vice President and Assistant
Secretary

Lisa Wachendorf Linda Gilmer
Director, Vice President and Treasurer/Controller
Chief Compliance Officer

Thomas R. Moriarty Robert Warner
Vice President Assistant Compliance Officer

Priscilla Hechler Emily Bates
Assistant Vice President and Assistant Treasurer
Assistant Secretary

Thomas Pierpar Clifton Flenniken
Assistant Vice President and Assistant Treasurer
Assistant Secretary

--------------------

The principal business address of each person listed is ASFG Securities
Corporation, 4333 Edgewood Road N.E., Cedar Rapids, IA 52499-0001.

<PAGE>

Commissions and Other Compensation Received by Principal Underwriter.
--------------------------------------------------------------------

AFSG Securities Corporation, the broker/dealer, received $5,583,369.34 and
$2,463,152.13 from the Registrant for the year ending December 31, 1999 and for
May 1, 1998 through December 31, 1998, respectively, for its services in
distributing the Policies. AEGON USA Securities, Inc., its predecessor, received
$1,455,253.91 from the Registrant from January 1, 1998 through April 30, 1998,
for its services in distributing the Policies. No other commission or
compensation was received by the principal underwriter, directly or indirectly,
from the Registrant during the fiscal year.

AFSG Securities Corporation serves as the principal underwriter for the PFL
Endeavor Variable Annuity Account, the PFL Endeavor Platinum Variable Annuity
Account, the PFL Retirement Builder Variable Annuity Account, the PFL Life
Variable Annuity Account A, the PFL Life Variable Annuity Account C, the PFL
Life Variable Annuity Account D, PFL Life Variable Annuity Account E, the PFL
Wright Variable Annuity Account and the AUSA Endeavor Variable Annuity Account.
These accounts are separate accounts of PFL Life Insurance Company or AUSA Life
Insurance Company, Inc. AFSG Securities Corporation also serves as principal
underwriter for Separate Account I, Separate Account II, Separate Account IV and
Separate Account V of Peoples Benefit Life Insurance Company, and for Separate
Account B and Separate Account C of AUSA Life Insurance Company, Inc.

Item 30. Location of Accounts and Records

The records required to be maintained by Section 31(a) of the Investment Company
Act of 1940 and Rules 31a-1 to 31a-3 promulgated thereunder, are maintained by
PFL Life Insurance Company at 4333 Edgewood Road, N.E., Cedar Rapids, Iowa
52499-0001.

Item 31. Management Services.

All management Contracts are discussed in Part A or Part B.

Item 32. Undertakings

(a) Registrant undertakes that it will file a post-effective amendment to this
registration statement as frequently as necessary to ensure that the
audited financial statements in the registration statement are never more
than 16 months old for so long as Premiums under the Policy may be
accepted.

(b) Registrant undertakes that it will include either (i) a postcard or similar
written communication affixed to or included in the Prospectus that the
applicant can remove to send for a Statement of Additional Information or
(ii) a space in the Policy application that an applicant can check to
request a Statement of Additional Information.

(c) Registrant undertakes to deliver any Statement of Additional Information
and any financial statements required to be made available under this Form
promptly upon written or oral request to PFL at the address or phone number
listed in the Prospectus.

(d) PFL Life Insurance Company hereby represents that the fees and changes
deducted under the policies, in the aggregate, are reasonable in relation
to the services rendered, the expenses expected to be incurred, and the
risks assumed by PFL Life Insurance Company.

Section 403(b) Representations
------------------------------

PFL represents that it is relying on a no-action letter dated November 28, 1988,
to the American Council of Life Insurance (Ref. No. IP-6-88), regarding Sections
22(e), 27(c)(1), and 27(d) of the Investment Company Act of 1940, in connection
with redeemability restrictions on Section 403(b) Policies, and that paragraphs
numbered (1) through (4) of that letter will be complied with.

<PAGE>

SIGNATURES

As required by the Securities Act of 1933 and the Investment Company Act of
1940, the Registrant hereby certifies that this Amendment to the Registration
Statement meets the requirements for effectiveness pursuant to paragraph (b) of
Rule 485 and has caused this Registration Statement to be signed on its behalf,
in the City of Cedar Rapids and State of Iowa, on this 2nd day of October,
2000.

PFL LIFE VARIABLE
ANNUITY ACCOUNT A

PFL LIFE INSURANCE COMPANY
Depositor

/s/ Larry N. Norman
----------------------------------------
Larry N.Norman
President

As required by the Securities Act of 1933, this Registration Statement has been
signed by the following persons in the capacities and on the duties indicated.

<TABLE>
<CAPTION>
Signatures Title Date
---------- ----- ----
<S> <C> <C>
/s/ Patrick S. Baird Director October 2, 2000
--------------------------------------------
Patrick S. Baird

/s/ Craig D. Vermie Director October 2, 2000
--------------------------------------------
Craig D. Vermie

/s/ Larry N. Norman Director October 2, 2000
-------------------------------------------- (Principal Executive Officer)
Larry N. Norman

/s/ Bart Herbert, Jr. Director October 2, 2000
--------------------------------------------
Bart Herbert, Jr.

/s/ Douglas C. Kolsrud Director October 2, 2000
--------------------------------------------
Douglas C. Kolsrud

/s/ Robert J. Kontz Vice President and October 2, 2000
-------------------------------------------- Corporate Controller
Robert J. Kontz

/s/ Brenda K. Clancy Treasurer October 2, 2000
--------------------------------------------
Brenda K. Clancy
</TABLE>

<PAGE>

Registration No.
333 - 26209

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

---------------

EXHIBITS

FORM N-4

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

FOR

PFL LIFE VARIABLE ANNUITY ACCOUNT A

---------------
<PAGE>

EXHIBIT INDEX
-------------
<TABLE>
<CAPTION>
Exhibit No. Description of Exhibit Page No.*
----------- ---------------------- ---------
<S> <C> <C>
(8)(c)(3) Amendment to Schedule A of the Participation Agreement by and
between PFL Life Insurance Company and Endeavor Series Trust

(8)(h)(1) Amendment No. 2 to Participation Agreement by and between Janus
Aspen Series and PFL Life Insurance Company

(10)(a) Consent of Independent Auditors
</TABLE>

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* Page numbers included only in manually executed original.