<PAGE> 1
SEPTEMBER 29, 2000 SUPPLEMENT TO THE TRAVELERS CORPORATE OWNED
VARIABLE UNIVERSAL LIFE INSURANCE 20000 POLICY
PROSPECTUS DATED MAY 1, 2000
THE FOLLOWING INFORMATION REPLACES THE "REDUCTION OR ELIMINATION OF CHARGES"
SECTION ON PAGE 25:
REDUCTION OR ELIMINATION OF CHARGES
The policy is available for purchase by individuals, corporations and other
groups. The Company may reduce or eliminate certain charges (sales load,
surrender charge, monthly administrative charge, monthly cost of insurance
charge, or other charges), where the size or nature of the group results in
savings in sales, underwriting, administrative or other costs, to the Company.
These charges may be reduced in certain group, sponsored arrangements or
special programs. Eligibility for reduction in charges and the amount of any
reduction is determined by a number of factors, including:
- the number of insureds;
- the total premium expected to be paid;
- total assets under management for the policy owner;
- the nature of the relationship among individual insureds;
- the purpose for which the policies are being purchased;
- the expected persistency of individual policies; and
- any other circumstances which are expected to reduce expenses.
The extent and nature of reductions may change from time to time. The charge
structure may vary. Variations are determined in a manner not unfairly
discriminatory to policy owners which reflects differences in costs of service.
The following information supplements the information in the Average Annual
Returns table in the Appendix on page A-2:
AVERAGE ANNUAL RETURNS THORUGH 12/31/99
TRAVELERS CORPORATE VARIABLE LIFE FUND PERFORMANCE
<TABLE>
<CAPTION>
---------------------------------------------- ----------------------------------------------------------------------- --------
AVERAGE ANNUAL RETURNS
---------------------------------------------- ----------------------------------------------------------------------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
INVESTMENT OPTION INCEPTION MO QTR YTD 1 YR 3 YR 5 YR 10YR SINCE
DATE INCEPTION
---------------------------------- ----------- ---------- ---------- -------- ---------- ----------- --------- ------- --------
Fidelity VIP Contrafund 13-Jan-95 8.85% 17.15% 23.35% 23.35% 25.23% 26.84% - 26.84%
Portfolio - Service Class 2
---------------------------------- ----------- ---------- ---------- -------- ---------- ----------- --------- ------- --------
Franklin Small Cap Fund - Class 2 1-May-98 15.45% 39.37% 72.13% 72.13% - - - 31.44%
---------------------------------- ----------- ---------- ---------- -------- ---------- ----------- --------- ------- --------
Janus Aspen Series Balanced 13-Sep-93 7.70% 16.14% 25.96% 25.96% 26.81% 23.85% - 19.82%
Portfolio - Service Shares
---------------------------------- ----------- ---------- ---------- -------- ---------- ----------- --------- ------- --------
Janus Aspen Series Global 18-Jan-00 N/A N/A N/A N/A N/A N/A N/A N/A
Technology Portfolio - Service
Shares
---------------------------------- ----------- ---------- ---------- -------- ---------- ----------- --------- ------- --------
Janus Aspen Series Worldwide 13-Sep-93 15.50% 42.04% 63.57% 63.57% 36.50% 32.70% - 28.89%
Growth Portfolio - Service Shares
---------------------------------- ----------- ---------- ---------- -------- ---------- ----------- --------- ------- --------
</TABLE>
L-20680-A
