FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for six month period ending: 12/31/97
Is this a transition report? N
Is this an amendment to a previous filing? N
Those items or sub-items with a box "[/]" after the item number should be
completed only if the answer has changed from the previous filing on this form.
1.A. Registrant Name: VARIABLE ANNUITY ACCOUNT 1 SERIES ACCOUNT OF FIRST
GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY B. File Number: 811-08183
C. Telephone Number: 3036893822
2.A. Street: 8515 EAST ORCHARD ROAD
B. City: ENGLEWOOD
C. State COLORADO
D. Zip Code: 80111
E. Foreign Country:
3. Is this the first filing on this form by Registrant? Y
4. Is this the last filing on this form by Registrant? N
5. Is Registrant a small a business investment company (SBIC)? N
(If yes, complete only 89-110)
6. Is Registrant a unit investment trust (UIT)? Y (If yes,
complete only 111 through 132)
111. A. Depositor Name: FIRST GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
B. File Number: 333-25269
C. City: ALBANY State: NEW YORK Zip: 12205
114. A. Principal Underwriter Name: CHARLES SCHWAB & COMPANY, INC.
B. File Number:
C. City: SANFRANCISCO State: CALIFORNIA Zip: 94104
115. A. Independent Public Accountant Name: DELOITTE & TOUCHE, LLP
B. City: DENVER State: COLORADO Zip: 80202
116. FAMILY OF INVESTMENT COMPANIES INFORMATION:
A. Is Registrant part of a family of investment companies? N
117. A. Is Registrant a separate account of an insurance company? Y B. Variable
annuity contracts? Y C. Scheduled premium variable life contracts? N D.
Flexible premium variable life contracts? N E. Other types of insurance
products registered under the Securities Act of 1933? N
118. State the number of series existing at the end of the period that had
securities registered under the Securities Act of 1933? 1
119. State the number of new series for which registration statement was under
the Securities Act of 1933 became effective during the period. 0
120. State the total value of the portfolio series on the date of deposit for
the new series include in item 119. N/A
121. State the number of series for which a current prospectus was in existence
at the end of the period. 1
122. State the number of existing series for which additional units were
registered under the Securities Act of 1933 during the current period. 0
123. -126. N/A
127. List opposite the appropriate description below the number of series whose
portfolios are invested primarily (based upon a percentage f NAV) in each
type of securities shown, the aggregate total assets at market value as of
a date at or near the end of the current period of each such group of
series and the total income distributions made by echo such group of series
during the current period (excluding distributions of realized gains, if
any):
<TABLE>
Number of Total Assets Total Income
Series ($000's Distributions
Investing omitted) ($000's omitted)
<S> <C>
A. U.S. Treasury direct issue $ $
B. U.S. Government agency $ $
C. State and municipal tax-free $ $
D. Public utility debt $ $
E. Brokers or dealers debt or
debt of brokers' or dealers' parent $ $
F. All other corporate intermed. &
long-term debt $ $
G. All other corporate short term debt $ $
H. Equity securities of brokers or
dealers or parents of brokers or dealers $ $
I. Investment company equity securities $ $
J. All other equity securities $8,982 $
K. Other securities $ 57 $
L. Total assets of all series of registrant $9,039 $
</TABLE>
128. Is the timely payment of principal and interest on any of the portfolio
securities held by any of the Registrant's series at the end of the current
period insured or guaranteed by an entity other than the issuer? N If answer is
No go to item 131.
131. Total expenses incurred by all series of Registrant during the current
reporting period ($000's omitted): $21
Signature Page
The following form or signature shall follow items 79, 85, 88, 104, 110 or 130
as appropriate. This report is signed on behalf of the registrant (or depositor
or trustee).
City of: Englewood State of: Colorado Date: February 9, 1998
Name of Registrant, Depositor, or Trustee: VARIABLE ANNUITY ACCOUNT 1 SERIES
ACCOUNT OF FIRST GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
By: /s/ Beverly A. Byrne Witness: /s/ Susan R. Sellenberg
Beverly A. Byrne Susan R. Sellenberg
Assistant Vice President and Associate Counsel Legal Assistant I
