SELECT*ANNUITY III
INDIVIDUAL DEFERRED VARIABLE/FIXED ANNUITY CONTRACTS
ISSUED BY
THE RELIASTAR SELECT VARIABLE ACCOUNT OF
RELIASTAR LIFE INSURANCE COMPANY
SUPPLEMENT TO PROSPECTUS DATED
APRIL 30, 1999
The information in the prospectus under the heading DISTRIBUTION OF
THE CONTRACTS is deleted in its entirety and replaced with the following:
DISTRIBUTION OF THE CONTRACTS
The Contracts will be distributed by the General Distributor,
Washington Square Securities, Inc., 20 Washington Avenue South, Minneapolis,
Minnesota 55401, which is an affiliate of ReliaStar Life. The Contracts will be
sold by licensed insurance agents in those states where the Contracts can be
lawfully sold. Such agents will be registered representatives of broker-dealers
registered under the Securities Exchange Act of 1934 who are members of the
National Association of Securities Dealers, Inc. Commissions and other
distribution compensation will be paid by ReliaStar Life and will not result in
any charge to Contract Owners or the Variable Account. Generally such payments
will not exceed 8.0% of the purchase payments. In some cases a trail commission
based on the Contract Value may also be paid.
March 1, 2000
PLEASE INCLUDE THIS SUPPLEMENT WITH YOUR PROSPECTUS.
Form No. 048206
