Supplement dated October 1, 2000 to
Prospectus dated May 1, 2000 for
PROTECTIVE VARIABLE ANNUITY
issued by Protective Life and Annuity Insurance Company
Telephone: 1-800-456-6330
The following Funds are now available as an investment option:
Van Kampen Life Investment Trust: Aggressive Growth Portfolio Class II
Goldman Sachs Variable Insurance Trust: Internet Tollkeeper Fund(sm)
ANNUAL FUND EXPENSES
The information about annual Fund expenses is amended by adding the following
information:
<TABLE>
Management Other Total Annual
(Advisory) Expenses After Fund Expenses
Fees Reimbursement (After Reimbursements)
<S> <C> <C> <C>
Van Kampen Life Investment Trust
Aggressive Growth Portfolio Class II (6) 0.75 0.51 1.26
Goldman Sachs Variable Insurance Trust
Internet Tollkeeper Fund (7) 1.00 0.25 1.25
</TABLE>
The footnotes relating to the Annual Fund Expenses table are amended to add the
following information:
(6) Other Expenses have been estimated for the Portfolio's current fiscal
year. The estimates include a distribution and/or service (12b-1) fee
of 0.25 percent of the Portfolio's net assets. Because distribution
and/or service (12b-1) fees are paid out of the Portfolio's assets on
an ongoing basis, over time these fees will increase the cost of your
investment and may cost you more than paying other types of sales
charges.
(7) Expenses are estimated; the Internet Tollkeeper Fund commenced
operations on April 28, 2000, and therefore has no historical fees and
expenses to report. Goldman Sachs Asset Management (the "Investment
Adviser"), a unit of the Investment Management Division of Goldman,
Sachs & Co., has voluntarily agreed to reduce or limit certain "Other
Expenses" of the Fund (excluding management fees, taxes, interest,
brokerage fee, litigation, indemnification and other extraordinary
expenses) to the extent such expenses exceed the percentage stated in
the table above (as calculated per annum) of the Fund's average daily
net assets. Such reductions or limits, if any, are calculated monthly
on a cumulative basis. The Investment Adviser may discontinue or modify
any limitations in the future at its discretion. Management Fees for
this Fund have been contractually set at 1.00%.
Variable Annuity Account A of Protective Life
The information under the caption "Variable Annuity Account A of Protective
Life" is amended to add the Van Kampen Aggressive Growth Sub-Account and the
Goldman Sachs Internet Tollkeeper Sub-Account.
<PAGE>
The Funds
The information under the caption "The Funds" is amended to add the following
information: The Van Kampen Aggressive Growth Sub-Account invests in the
Aggressive Growth Portfolio Class II, a portfolio of the Van Kampen Life
Investment Trust. The Van Kampen Aggressive Growth Portfolio is managed by Van
Kampen Asset Management, Inc., a wholly owned subsidiary of Van Kampen
Investments, Inc. The Goldman Sachs Internet Tollkeeper Sub-Account invests in
the Goldman Sachs Internet Tollkeeper Fund, a portfolio of the Goldman Sachs
Variable Insurance Trust. The Goldman Sachs Variable Insurance Trust is managed
by Goldman Sachs Asset Management, a unit of the Investment Management Division
of Goldman, Sachs & Co. Goldman Sachs Internet Tollkeeper Fund(sm) is a service
mark of Goldman, Sachs & Co.
The descriptions of each Fund are amended to add the following information:
There is no guarantee that any Fund will meet its investment objectives. Please
refer to the prospectus for each of the Funds you are considering for more
information concerning the risks of investing in the Funds, investment
objectives, policies, restrictions and expenses of the Funds.
Van Kampen Life Investment Trust
Aggressive Growth Portfolio Class II. The Portfolio seeks capital
growth. The Portfolio seeks to achieve its objective by investing at least 65%
of the Portfolio's total assets in common stocks and other equity securities of
companies that the Portfolio's investment adviser believes have an above-average
potential for capital growth.
Goldman Sachs Variable Insurance Trust
Internet Tollkeeper Fund. This Fund seeks long-term growth of capital.
This Fund will pursue its objectives by investing, under normal circumstances,
at least 65% of its total assets in equity securities of "Internet Tollkeeper"
companies, which are companies in the media, telecommunications, technology and
Internet sectors that provide access, infrastructure, content and services to
Internet companies and Internet users.
Other Investors in the Funds
The information under the caption "Other Investors in the Funds" is amended to
include the Aggressive Growth Portfolio Class II from the Van Kampen Life
Investment Trust and the Internet Tollkeeper Fund from the Goldman Sachs
Variable Insurance Trust.
38449v.5
