FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for six month period ending:
or fiscal year ending: 12/31/97 (b)
Is this a transition report?(Y/N): N
Is this an amendment to a previous filing?(Y/N): N
1. A. Registrant Name: MBL Variable Contract Account-2
B. File Number: 811-02047
C. Telephone Number: 973/481-8356
2. A. Street: 520 Broad Street
B. City: Newark C. State: NJ D. Zip Code: 07102-3111
3. Is this the first filing on this form by Registrant?(Y/N): N
4. Is this the last filing on this form by Registrant?(Y/N): N
5. Is Registrant a small business investment company (SBIC)?(Y/N): N
6 Is Registrant a unit investment trust (UIT)?(Y/N): Y
UNIT INVESTMENT TRUST
111. A. Depositor Name: MBL Life Assurance Corporation
C. City: Newark State: NJ Zip Code: 07102-3111
112. A. Sponsor Name: MBL Life Assurance Corporation
C. City: Newark State: NJ Zip Code: 07102-3111
113. A. Trustee Name:
B. City: State: Zip Code:
114. A. Principal Underwriter Name: First Priority Investment
Corporation
B. File Number: 8-46334
C. City: Newark State: NJ Zip Code: 07102-3111
115. A. Independent Public Accountant Name: Coopers & Lybrand
L.L.P.
B. City; Parsippany State: NJ Zip Code: 07054
116. Family of investment companies information:
A. Is Registrant part of family of investment companies?(Y/N) N
117. A. Is Registrant a separate account of an insurance
company?(Y/N) Y
B. Variable annuity contracts?(Y/N) Y
D. Flexible premium variable life contracts?(Y/N) N
118. State the number of series existing at the end of the period that
had securities registered under the Securities Act of 1933 1
121. State the number of series for which a current prospectus was in
existence at the end of the period 1
122. State the number of existing series for which additional units
were registered under the Securities Act of 1933 during the
current period 0
123. State the total value of the additional units considered in
answering item 122 ($000's omitted) $0
127. List opposite the appropriate description below the number of
series whose portfolios are invested primarily (based upon a
percentage of NAV) in each type of security shown, the aggregate
total assets at market value as of a date at or near the end of
the current period of each such group of series and the total
income distributions made by each such group of series during the
current period (excluding distributions of realized gains, if
any):
<TABLE>
<CAPTION>
Number of Total Assets Total Income
Series ($000's Distributions
Investing Omitted) ($000's omitted)
<S> <C> <C> <C>
A. U. S. Treasury direct issue
B. U. S. Government agency
C. State and municipal
tax-free
D. Public utility debt
E. Brokers or dealers debt
or debt or brokers' or
dealers' parent
F. All other corporate
intermed. & long-term
debt
G. All other corporate
short-term debt
H. Equity securities of brokers
or dealers or parents of
brokers or dealers
I. Investment company equity
securities
J. All other equity securities 1 $52,661 $0
K. Other securities
L. Total assets of all
series of registrant 1 $52,661 $0
</TABLE>
128. Is the timely payment of principal and interest on any of the
portfolio securities held by any of Registrant's series at the
end of the current period insured or guaranteed by an entity
other than the issuer? (Y/N) N
129. Is the issuer of any instrument covered in item 128 delinquent or
in default as to payment of principal or interest at the end of
the current period?(Y/N) N
130. In computations of NAV or offering price per unit, is any part of
the value attributed to instruments identified in item 129
derived from insurance or guarantees?(Y/N) N
131. Total expenses incurred by all series of Registrant during the
current reporting period ($000's omitted) $177
132. List the "811" (Investment Company Act of 1940) registration
number for all Series of Registrant that are being included in
this filing:
811-02047
February 25, 1998
This report is signed on behalf of the registrant (or depositor or
trustee) in the City of Newark and State of New Jersey on the 25th day
of February,1998.
MBL Life Assurance Corporation
(name of registrant, depositor, or trustee)
Witness: JUDITH C. KEILP By: ALBERT W. LEIER
Judith C. Keilp Albert W. Leier
Counsel and Assistant Vice President and Controller
Secretary (Name and Title of person
(Name and Title) signing on behalf of
registrant, depositor or
trustee)
