FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for six month period ending:
or fiscal year ending: 12/31/98 (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: PricewaterhouseCoopers LLP
B. City; Florham Park State: NJ Zip Code: 07932
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):
Number of Total Assets Total Income
Series ($000's Distributions
Investing Omitted) ($000's omitted)
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 $59,685 $0
K. Other securities
L. Total assets of all
series of registrant 1 $59,685 $0
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) $209
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 24, 1999
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 24th day of February,
1999.
MBL Life Assurance Corporation
(name of registrant, depositor, or trustee)
Witness: CHRISTINE M. DEMPSEY By: ALBERT W. LEIER
Christine M. Dempsey Albert W. Leier
Director Vice President and
Financial Reporting Controller
(Name and Title) (Name and Title of person
signing on behalf of
registrant, depositor or
trustee)
