Transamerica BountySM Variable Annuity
Issued by
Transamerica Life Insurance and Annuity Company
Separate Account VA-7
Supplement Dated July 29, 1999
to Prospectus Dated May 1, 1999
The following information supplements the prospectus. You should read it
together with the prospectus.
On July 21, 1999, Transamerica Corporation completed its merger with a
subsidiary of AEGON N.V., one of the world's leading international insurance
groups. AEGON N.V. indirectly owns the issuing company, Transamerica Life
Insurance and Annuity Company.
Transamerica Variable Insurance Fund, Inc.
Supplement Dated July 29, 1999
to Prospectus Dated May 1, 1999
The following information supplements the prospectus. You should read it
together with the prospectus.
On July 21, 1999, Transamerica Corporation completed its merger with a
subsidiary of AEGON N.V., one of the world's leading international insurance
groups. As a result of the merger, the investment advisory contracts between
Transamerica Variable Insurance Fund, Inc. (TVIF) and Transamerica Occidental
Life Insurance Company (TOLIC), TVIF's investment adviser, automatically
terminated and the new investment advisory contracts between TVIF and TOLIC,
approved at a special meeting of TVIF shareholders on June 16, 1999, became
effective.
As of July 21, 1999, AEGON N.V. indirectly owns the investment adviser, TOLIC,
and directly owns the sub-adviser, Transamerica Investment Services, Inc.
