Transamerica Seriessm Transamerica Tribute(R)
Variable Universal Life Insurance
Issued by
Transamerica Occidental Life Insurance Company
Separate Account VUL-1
Supplement Dated June 11, 1999
To
Prospectus Dated May 1, 1999
The following information supplements the Prospectus. You should read it
together with the Prospectus.
1. The second paragraph in the description of the The Fixed Income Portfolio
of the Morgan Stanley Dean Witter Universal Funds, Inc., section on page
8 is changed to read:
Adviser: Miller Anderson & Sherrerd, LLP. Management Fee: 0.40% of the
first $500 million plus 0.35% of the next $500 million plus 0.30% of
the assets over $1 billion.
2. The second paragraph in the description of the The High Yield Portfolio
of the Morgan Stanley Dean Witter Universal Funds, Inc., section on page
8 is changed to read:
Adviser: Miller Anderson & Sherrerd, LLP. Management Fee: 0.50% of the
first $500 million plus 0.45% of the next $500 million plus 0.40% of
the assets over $1 billion.
3. The first paragraph of the Federal Tax Considerations section on page
36 is changed to read:
The following description is a brief summary of some of the federal tax
considerations for U.S. citizens and residents based on our understanding
of the present federal income tax laws as they are currently interpreted.
Legislation may be proposed which, if passed, could adversely and
possibly retroactively affect the taxation of the policies. This summary
is not exhaustive, does not purport to cover all situations, and is not
intended as tax advice. We do not address tax provisions that may apply
if the policy owner is a corporation. You should consult a qualified tax
adviser to apply the law to your circumstances.
4. The following new section, beginning on page 37 immediately following the
Taxation of the Policies section, is added to the Federal Tax
Considerations section:
Withholding
If all or part of a distribution from the policy is includible in gross
income, the Code requires us to withhold federal income tax unless the
policy owner elects, in writing, not to have tax withholding apply. The
federal income tax withholding rate is generally 10% of the taxable
amount of the distribution. Withholding applies only if the taxable
amount of the distribution is at least $200. Some states also require
withholding for state income taxes.
If payments are delivered to foreign countries, however, the tax
withholding rate will generally be 10% unless you certify to us that you
are not a U.S. person residing abroad or a "tax avoidance expatriate" as
defined in Code Section 877. Such certification may result in withholding
of federal income taxes at a different rate.
