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Supplement to Prospectus Dated May 1, 2000 for Pacific Select Exec II-NY
Flexible Premium Variable Life Insurance Policy (the "policy")
Issued by Pacific Life & Annuity Company
This supplement changes the prospectus to reflect
the following:
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An overview of Pacific Other Expenses
Select Exec II-NY: The table also shows the fund expenses for each
Fees and expenses paid portfolio based on expenses in 1999, adjusted to
by the Pacific Select reflect recently reduced custody fees. To help
Fund: Other expenses limit fund expenses, effective July 1, 2000 Pacific
is replaced. Life has contractually agreed to waive all or part
of its investment advisory fees or otherwise
reimburse each portfolio for operating expenses
(including organizational expenses, but not
including advisory fees, additional costs
associated with foreign investing and extraordinary
expenses) that exceed an annual rate of 0.10% of
its average daily net assets. Such waiver or
reimbursement is subject to repayment to Pacific
Life to the extent such expenses fall below the
0.10% expense cap. For each portfolio, Pacific
Life's right to repayment is limited to amounts
waived and/or reimbursed that exceed the new 0.10%
expense cap, but do not exceed the previously
established 0.25% expense cap. Any amounts repaid
to Pacific Life will have the effect of increasing
expenses of the portfolio, but not above the 0.10%
expense cap. There is no guarantee that Pacific
Life will continue to cap expenses after December
31, 2001. In 1999, Pacific Life reimbursed the
Small-Cap Index Portfolio $96,949.
<TABLE>
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<CAPTION>
Less
Advisory Other Total adviser's Total net
Portfolio fee expenses expenses+ reimbursement expenses
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As an annual % of average daily net assets
<S> <C> <C> <C> <C> <C>
Aggressive Equity 0.80 0.04 0.84 -- 0.84
Emerging
Markets/1/ 1.10 0.19 1.29 -- 1.29
Diversified
Research/2/ 0.90 0.05 0.95 -- 0.95
Small-Cap Equity 0.65 0.04 0.69 -- 0.69
International
Large-Cap/2/ 1.05 0.10 1.15 -- 1.15
Equity 0.65 0.03 0.68 -- 0.68
I-Net
Tollkeeper/2/ 1.50 0.14 1.64 (0.04) 1.60
Multi-Strategy 0.65 0.04 0.69 -- 0.69
Equity Income 0.65 0.04 0.69 -- 0.69
Growth LT 0.75 0.03 0.78 -- 0.78
Mid-Cap Value 0.85 0.07 0.92 -- 0.92
Equity Index/3/ 0.25 0.04 0.29 -- 0.29
Small-Cap Index 0.50 0.30 0.80 (0.20) 0.60
REIT 1.10 0.15 1.25 (0.05) 1.20
International
Value 0.85 0.09 0.94 -- 0.94
Government
Securities 0.60 0.05 0.65 -- 0.65
Managed Bond/1/ 0.60 0.05 0.65 -- 0.65
Money Market/1/ 0.35 0.04 0.39 -- 0.39
High Yield Bond/1/
0.60 0.05 0.65 -- 0.65
Large-Cap Value 0.85 0.08 0.93 -- 0.93
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</TABLE>
/1/ Total adjusted net expenses for these
portfolios in 1999, after deduction of an
offset for custodian credits were: 1.28% for
Emerging Markets Portfolio, 0.64% for Managed
Bond Portfolio, 0.38% for Money Market
Portfolio, and 0.64% for High Yield Bond
Portfolio.
/2/ Expenses are estimated. There were no actual
advisory fees or expenses for these portfolios
in 1999 because the portfolios started after
December 31, 1999.
/3/ Total adjusted net expenses for the Equity
Index Portfolio in 1999, after deduction of an
offset for custodian credits, were 0.28%. The
advisory fee for the portfolio has also been
adjusted to reflect the advisory fee increase
effective January 1, 2000. The actual advisory
fee and total adjusted net expenses for this
portfolio in 1999, after deduction of an offset
for custodian credits, were 0.16% and 0.19%,
respectively.
+ The fund has adopted a brokerage enhancement
12b-1 plan, under which brokerage transactions
may be placed with broker-dealers in return for
credits, cash, or other compensation that may
be used to help promote distribution of fund
shares. There are no fees or charges to any
portfolio under this plan, although the fund's
distributor may defray expenses of up to
approximately $300,000 for the year 2000, which
it might otherwise incur for distribution. If
such defrayed amount were considered a fund
expense, it would represent approximately
.0023% or less of any portfolio's average daily
net assets.
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Telephone
authorizations You may enroll in or give instructions regarding
the dollar cost averaging program or portfolio
for the transfer rebalancing program by telephone if we have your
programs completed telephone authorization form on file.
Supplement dated
August 28, 2000
