<PAGE> 1
SECURITY FIRST SEPARATE ACCOUNT A
SUPPLEMENT DATED AUGUST 18, 1999
TO PRIVATE CLIENT ADVISER PROSPECTUS
DATED MAY 1, 1999
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The following pages should replace pages 10-11 of the Prospectus:
FUND ANNUAL EXPENSES
(AS A PERCENTAGE OF AVERAGE NET ASSETS)
(NET OF ANY WAIVER OR REIMBURSEMENT)
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C>
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HOTCHKIS &
BARR WILEY
ROSENBERG INTERNATIONAL LEVCO NAVELLIER OFFITBANK OFFITBANK
MARKET VIP EQUITY GROWTH HIGH YIELD TOTAL RETURN
NEUTRAL FUND PORTFOLIO FUND PORTFOLIO FUND FUND
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(a) Management Fee 1.90% .75% .85% .85% .85% .50%
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(b) 12b-1 Fees -- -- .20% -- -- --
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(c) Other Expenses .10% .30% .25% .65% .30% .30%
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(d) Total Annual
Expenses 2.00% 1.05% 1.30% 1.50% 1.15% .80%
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</TABLE>
<TABLE>
<S> <C> <C> <C> <C>
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PIMCO CAPITAL* ROYCE TOTAL
OPPENHEIMER APPRECIATION RETURN
MONEY FUND PORTFOLIO PORTFOLIO
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(a) Management Fee .45% .83% 1.00%
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(b) 12b-1 Fees -- -- --
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(c) Other Expenses .05% .02% .35%
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(d) Total Annual Expenses .50% .85% 1.35%
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</TABLE>
* PIMCO has agreed to reduce its administrative fee to the extent that total
Portfolio operating expenses are .85%.
Total yearly expenses have been reduced as a result of voluntary or contractual
fee waivers or expense assumptions by the investment adviser and/or
administrator. If the reduction had not occurred, total yearly expenses would
have been:
- Barr Rosenberg Market Neutral Fund -- 2.00%;
- Hotchkis & Wiley International VIP Portfolio -- 1.35%;
- LEVCO Equity Fund -- 2.29%;
- Navellier Growth Portfolio -- 5.0%;
- OFFITBANK High Yield Fund -- 1.38%;
- OFFITBANK Total Return Fund -- 5.25%;
- Royce Total Return Portfolio -- 2.99%.
<PAGE> 2
EXAMPLES
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<TABLE>
<CAPTION>
CONDITIONS
YOU WOULD PAY THE FOLLOWING
SEPARATE EXPENSES ON A $1,000 TIME PERIODS
ACCOUNT INVESTMENT ASSUMING 5% ANNUAL ---------------------------------------
SERIES RETURN ON ASSETS: 1 YEAR 3 YEARS 5 YEARS 10 YEARS
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<S> <C> <C> <C> <C> <C> <C>
Barr Rosenberg Market (a) upon surrender at the (a) $24 $75 $128 $273
Neutral Fund end of the stated time period
(b) if the Contract WAS (b) 24 75 128 273
NOT surrendered
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Hotchkis & Wiley SAME (a) 15 46 79 172
International VIP (b) 15 46 79 172
Portfolio
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LEVCO Equity SAME (a) 17 53 92 200
Fund (b) 17 53 92 200
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Navellier Growth SAME (a) 19 59 102 221
Portfolio (b) 19 59 102 221
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OFFITBANK High Yield SAME (a) 16 49 84 183
Fund (b) 16 49 84 183
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OFFITBANK Total Return SAME (a) 12 38 65 144
Fund (b) 12 38 65 144
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Oppenheimer Money SAME (a) 9 28 49 110
Fund (b) 9 28 49 110
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PIMCO Capital SAME (a) 13 39 68 150
Appreciation Portfolio (b) 13 39 68 150
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Royce Total Return SAME (a) 18 55 94 205
Portfolio (b) 18 55 94 205
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</TABLE>
EXPLANATION OF FEE TABLES AND EXAMPLES
1. Security First Life has determined to voluntarily reduce its mortality and
expense risk charge to 0.39% per year. Without this reduction, the charge would
have been 1.25% per year. This may be terminated at any time, but any change in
this reduction will not affect Contracts issued prior to the change.
2. The purpose of these tables and examples is to aid you in understanding the
various costs and expenses that you will bear directly or indirectly. The table
reflects expenses of the Separate Account as well as the underlying Funds.
Premium taxes are not reflected.
3. THE EXAMPLES ARE NOT REPRESENTATIONS OF PAST OR FUTURE EXPENSES. ACTUAL
EXPENSES MAY BE GREATER OR LESS THAN THOSE SHOWN.
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CONDENSED FINANCIAL INFORMATION
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The Security First Private Client Advisor is a new variable insurance Contract
being offered by Security First Life. The Series that invest in the Funds were
created in 1999. Therefore, no financial information is available at this time.
