The following are sample calculations showing the methodology used in
calculating non-standardized and standardized performance for Pilot Elite. Note
that the calculations shown are hypothetical calculations, as Jefferson Pilot
has not yet begun to sell the product, therefore, no returns have yet been
generated.
For illustration purposes, we have assumed the period ended 6/30/00. We have
also assumed a 5.00% return for each time period illustrated.
Pilot Elite
NON-STANDARDIZED - Investment Option A
Year-to-Date
12/31/99-6/30/00
<TABLE>
<S> <C> <C> <C> <C>
1.000
(52,500.00)
-------------- - 1 = 5.00%
(50,000.00)
1 YEAR (Annualized)
6/30/99-6/30/00
1.000
(52,500.00)
-------------- - 1 = 5.00%
(50,000.00)
3 YEAR (Annualized) 3 YEAR (Cumulative)
6/30/97-6/30/00 6/30/97-6/30/00
0.333
(57,881.25) (57,881.25-50,000.00)
-------------- - 1 = 5.00% ------------------------- = 15.76%
(50,000.00) (50,000.00)
5 YEAR (Annualized) 5 YEAR (Cumulative)
6/30/95-6/30/00 6/30/95-6/30/00
0.200
(63,814.08) (63,814.08-50,000.00)
-------------- - 1 = 5.00% ------------------------- = 27.63%
(50,000.00) (50,000.00)
10 YEAR (Annualized) 10 YEAR (Cumulative)
6/30/90-6/30/00 6/30/90-6/30/00
0.100
(81,444.73) (81,444.73-50,000.00)
-------------- - 1 = 5.00% ------------------------- = 62.89%
(50,000.00) (50,000.00)
Since Inception (Annualized) Since Inception (Cumulative)
Inception Date-6/30/00 Inception Date-6/30/00
n = # of years Portfolio in existence
</TABLE>
Page 1
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
(1/n)
(net investment proceeds-50,000.00) (net investment proceeds-50,000.00)
-------------- - 1 = annualized total return ------------------------- = cumulative
(50,000.00) (50,000.00) total return
Pilot Elite
STANDARDIZED - Investment Option A
Year-to-Date
12/31/99-6/30/00
1.000
(52,500.00)
-------------- - 1 = 5.00%
(50,000.00)
1 YEAR (Annualized)
6/30/99-6/30/00
1.000
(52,500.00)
-------------- - 1 = 5.00%
(50,000.00)
3 YEAR (Annualized) 3 YEAR (Cumulative)
6/30/97-6/30/00 6/30/97-6/30/00
0.333
(57,881.25) (57,881.25-50,000.00)
-------------- - 1 = 5.00% ------------------------- = 15.76%
(50,000.00) (50,000.00)
5 YEAR (Annualized) 5 YEAR (Cumulative)
6/30/95-6/30/00 6/30/95-6/30/00
0.200
(63,814.08) (63,814.08-50,000.00)
-------------- - 1 = 5.00% ------------------------- = 27.63%
(50,000.00) (50,000.00)
10 YEAR (Annualized) 10 YEAR (Cumulative)
6/30/90-6/30/00 6/30/90-6/30/00
0.100
(81,444.73) (81,444.73-50,000.00)
-------------- - 1 = 5.00% ------------------------- = 62.89%
(50,000.00) (50,000.00)
Since Inception (Annualized) Since Inception (Cumulative)
Inception Date-6/30/00 Inception Date-6/30/00
n = # of years Subaccount in existence
(1/n)
</TABLE>
Page 2
<PAGE>
<TABLE>
<S> <C> <C> <C> <C>
(net investment proceeds-50,000.00) (net investment proceeds-50,000.00)
-------------- - 1 = annualized total return ------------------------- = cumulative
(50,000.00) (50,000.00) total return
</TABLE>
Page 3
<PAGE>
The following are formulas which show the methodology used in calculating
non-standardized and standardized performance for Pilot Elite.
Pilot Elite
-----------
NON-STANDARDIZED-Investment Option A
------------------------------------
<TABLE>
<S> <C>
50,000 = Beginning Investment Value (initial investment)
EV = Ending Investment Value
n = number of years Portfolio in existence
(EV/50,000)(1/n)-1 = Annualized Non-Standard Rate of Return
(EV/50,000)-1 = Cumulative Non-Standard Rate of Return
STANDARDIZED-Investment Option A
--------------------------------
1,000 = Beginning Investment Value (initial investment)
b = Beginning Unit Value
e = Ending Unit Value
E = Ending Investment Value
S = Surrender Charge (as a percent, 7%-0%)
$ = Actual surrender charge applied
N = Net Investment Proceeds
n = number of years Portfolio in existence
((1,000/b)*e) = E
E*S = $
E-$ = N
(N/1,000)(1/n)-1 = Annualized Standard Rate of Return
(((1,000/b)-R)*e) = E
E*S = $
E-$ = N
(N/1,000)-1 = Cumulative Standard Rate of Return
</TABLE>
