SUPPLEMENT TO PROSPECTUS DATED MAY 1, 2000
FOR THE JNL VARIABLE FUND LLC
Throughout the prospectus, references to Jackson National Separate Account III
should be replaced with Jackson National Separate Account I.
The Financial Highlights table found on page 8 should be replaced in its
entirety with the following:
FINANCIAL HIGHLIGHTS
The following table provides selected per interest data for one interest of the
Series. The information does not reflect any charges imposed by an Account
investing in interests of the Series. You should refer to the appropriate
Account prospectus for additional information regarding such charges.
The information for the period shown below has been audited by
PricewaterhouseCoopers LLP, independent accountants, and should be read in
conjunction with the financial statements and notes thereto, together with the
report of PricewaterhouseCoopers LLP thereon, in the Annual Report.
JNL/FIRST
TRUST
THE DOW
TARGET
10 SERIES
------------------
PERIOD FROM
JULY 2,
1999* TO
DECEMBER 31,
1999
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SELECTED PER INTEREST DATA
NET ASSET VALUE, BEGINNING OF PERIOD..........................$ 10.00
------------------
INCOME (LOSS) FROM OPERATIONS:
Net investment income ...................................... 0.05
Net realized and unrealized loss on investments............. (1.32)
------------------
Total loss from operations.................................... (1.27)
------------------
NET ASSET VALUE, END OF PERIOD................................$ 8.73
==================
TOTAL RETURN (A).............................................. (12.70)%
RATIOS AND SUPPLEMENTAL DATA:
Net assets, end of period (in thousands)....................$ 7,786
Ratio of expenses to average net assets (b)................. 0.85 %
Ratio of net investment income to average net assets (b).... 2.53 %
Portfolio turnover ......................................... 23.32 %
- --------------------------------------------------------------------------------
* Commencement of operations.
(a) Assumes investment at net asset value at the beginning of the period and a
complete redemption of the investment at the net asset value at the end of
the period. Total Return is not annualized for periods less than one year.
(b) Annualized for periods less than one year.
This Supplement is dated May 5, 2000
(To be used with Form No. VC3656 Rev. 05/00)
