MBL VARIABLE CONTRACT ACCOUNT-2
MBL Life Assurance Corporation
520 Broad Street, Newark, NJ 07102-3111
1-800-435-3191
Supplement Dated April 9, 1999
To Prospectus Dated May 1, 1998, Supplemented May 1 and August 6,
1998, and February 17, 1999
This supplement should be read in conjunction with the prospectus
for the MBL Variable Contract Account-2 (the "Account"), a copy
of which can be obtained without charge from MBL Life Assurance
Corporation ("MBL Life"). Please write to: Pension and
Investment Products, MBL Life Assurance Corporation, 520 Broad
Street, Newark, New Jersey 07102-3111, ATTN: MBL VARIABLE
CONTRACT ACCOUNT-2, or call 1-800-435-3191 for a copy of the
prospectus for the Account.
As you have been advised, all MBL Life separate accounts
(including this Account) and the various contracts funded through
the accounts, will be terminated on or about June 25, 1999 (the
"Termination Date").
Effective as of the close of business on April 30, 1999, the
Account will close to new deposits, including deposits under
salary deduction plans. No transfers between the Account and MBL
Variable Contract Account-7 will be accepted. Contract holders
and group participants may redeem any or all of their Account
units at any time through the Termination Date, subject to the
redemption procedures described in the Account's prospectus.
Any contracts still with MBL Life on the Termination Date will be
terminated. Contract holders and group participants will be
provided with adequate notice and disclosure regarding the
termination of the Account. During the period leading up to the
Termination Date, certain contract holders and group participants
will be given the opportunity to exchange, on a tax-free basis,
their MBL Life contracts for annuity contracts issued by other
insurance companies or for other applicable tax-deferred
investment vehicles. Contract holders and group participants may
also have the option of redeeming the value of their contracts in
accordance with Internal Revenue Service guidelines. Contract
holders and group participants may incur a tax liability and
should consult with their tax advisors regarding the implications
associated with the exchange or redemption of a contract.
