Jeffrey A. Engelsman
(303) 689-4285 - tel.
689-3827 - fax.
August 1, 1997
Via EDGAR
Securities and Exchange Commission
Re: Sticker to Maxim Series Account of
Great-West Life & Annuity Insurance Company
File Nos. File No.2-73879 and 811-3349
Dear Ladies and Gentlemen:
Attached is a revision to the Maxim Series Account (the "Series
Account") Prospectus submitted pursuant to Rule 497(e). This "Sticker" is to be
effective August 1, 1997. The Sticker is necessary due to a change in investment
objective of the Small-Cap Index investment division. This investment divisions
invest exclusively in the corresponding portfolio of Maxim Series Fund, Inc. The
Maxim Series Fund, Inc. Small-Cap Index Portfolio changed its investment
objective, effective August 1, 1997, pursuant to a shareholder vote on July 30,
1997.
Should you have any questions regarding this filing, please do not
hesitate to call me at the above listed telephone number.
Very truly yours,
/s/ Jeffrey A. Engelsman
Jeffrey A. Engelsman
Attorney
<PAGE>
Rule 497(e)
File No.2-73879
Maxim Series Account of Great-West Life & Annuity Insurance Company
August 1, 1997
Insert on page 2 of the prospectus
Effective August 1, 1997 and continuing until October 24, 1997, Small-Cap Index
Portfolio will transition its holdings from securities which comprise the
Russell 2000 Index to those which comprise the S&P 600 Index in proportion to
their market-value weighting. The new investment objective of the Small-Cap
Index Portfolio will be as follows:
hthe Small-Cap Index Portfolio will seek to provide investment results, before
fees, that correspond to the total return of the Standard & Poor's Small-Cap 600
Stock Index.
Standard & Poor's Small-Cap 600 Stock Index is a trademark of The
McGraw-Hill Companies, Inc. and has been licensed for use by Maxim Series Fund,
Inc. and Great-West Life & Annuity Insurance Company. The Portfolio is not
sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's
makes no representation regarding the advisability of using this index.
