LINCOLN NATIONAL VARIABLE ANNUITY FUND A (Group) LINCOLN NATIONAL VARIABLE
ANNUITY FUND A (Individual) Supplement Dated DECEMBER 31, 2000 to the Prospectus
Dated May 1, 2000
This supplement describes certain changes to the Prospectus for Lincoln
National Variable Annuity Account A (Group and Individual). Please read this
supplement and retain it with your Prospectus for reference.
Paragraph 4 under the section titled "Investment Advisor" on page 6 of the
Prospectus should be replaced in its entirety with the following:
"A sub-advisory agreement is currently in effect between Lincoln Life and
Vantage Investment Advisors, Inc. ("Vantage"), 2005 Market Street, Philadelphia,
PA 19103, a Delaware corporation. Under it, Vantage may perform substantially
all of the investment advisory services required by the fund. However, we remain
primarily responsible for investment decisions affecting the fund, and no
additional compensation from the assets of the fund is assessed as a result of
this agreement.
On or about January 1, 2001, the investment capabilities of Vantage will be
integrated into Delaware Management Business Trust ("Delaware"). Delaware is a
multi-series business trust that is registered with the SEC as an investment
advisor. Like Vantage, Delaware is a wholly owned indirect subsidiary of Lincoln
National Investments, Inc. and ultimately of Lincoln National Corporation. The
address of Delaware is 2005 Market Street, Philadelphia, PA 19103.
Following the integration, the fund will be sub-advised by the Vantage
Investment Advisers series of Delaware. The integration is not expected to
result in any changes in the investment personnel providing services to the
fund. Vantage will cease to exist as a corporate entity after the integration.
Vantage has concluded that the integration of Vantage with its affiliate,
Delaware, will not result in an "assignment" of its sub-advisory agreement with
Lincoln Life that would require shareholder approval under the Investment
Company Act of 1940, as amended. The fund's Board of Managers approved the
foregoing changes to the fund's sub-advisory arrangements on November 13, 2000."
PLEASE READ AND KEEP THIS SUPPLEMENT WITH YOUR PROSPECTUS.
