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NATIONWIDE
DC VARIABLE
ACCOUNT
[LOGO]
SEMI-ANNUAL REPORT
TO
PARTICIPANTS AND RETIRED PARTICIPANTS
JUNE 30, 2000
NATIONWIDE LIFE INSURANCE COMPANY
HOME OFFICE: COLUMBUS, OHIO
[LOGO NATIONWIDE]
APO-723-AC (06/00)
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[LOGO NATIONWIDE]
NATIONWIDE LIFE INSURANCE COMPANY
ONE NATIONWIDE PLAZA, COLUMBUS, OHIO 43215-2220
[PRESIDENT'S PHOTO]
PRESIDENT'S MESSAGE
We at Nationwide Life Insurance Company are pleased to bring you
the 2000 semi-annual report of the Nationwide DC Variable
Account.
During the first half of 2000 fixed income and equity markets
took a hiatus from their recent advances. It appears the Federal
Reserve's interest rate hikers are accomplishing the intended
purpose. Recent economic statistics show some moderation in the
areas of home and vehicles sales because of the higher interest
costs. And, there are other favorable indications that the Fed
may yet "glide" the economy to a soft landing. Inflation remains
low. Sustained increases in worker productivity continue to
dampen pricing pressures of an increasingly tight labor pool.
Corporate profitability growth remains viable. An improving
global economy bodes well for U.S. exporting businesses. While
all this provides a positive backdrop, we expect the markets will
continue jittery and volatile during the second half of the year
as uncertainty over further Fed actions persists. However, we
believe patient investors in financial assets will be amply
rewarded when we move beyond this temporary respite.
Nationwide Life was a forerunner in the variable annuity and
variable life insurance business. We continue to develop new and
innovative investment products to better meet your financial
planning and retirement needs. And, we are equally committed to
providing you, our valued customer, the exceptional level of
customer service you expect and deserve.
/s/ Joseph J. Gasper
Joseph J. Gasper, President
August 16, 2000
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CONTENTS
HOW TO READ THE SEMI-ANNUAL REPORT ............................. 6
STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS' EQUITY ... 7
STATEMENTS OF OPERATIONS ....................................... 11
STATEMENTS OF CHANGES
IN CONTRACT OWNERS' EQUITY ..................................... 11
NOTES TO FINANCIAL STATEMENTS .................................. 32
5
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HOW TO READ THE SEMI-ANNUAL REPORT
This semi-annual report is a presentation of the variable account as a whole and
only describes the underlying contracts and products of the variable account in
general terms. Please note the variable account may have more than one variable
product available. Such products may have different underlying mutual funds
available than those available in your contract. Therefore, not all funds listed
in this report may be available in your contract. Please refer to your most
recent account statement for specific information about your investment in the
Nationwide DC Variable Account. Rules and regulations of the United States
Securities and Exchange Commission and recognized conventions of Generally
Accepted Accounting Principals prescribe the format and content of this report.
We also invite you to call our service center at 1-877-NRSFORU (1-877-677-3678)
if you have questions about your account, or you may access your account using
our voice response unit. And, please visit our web-site at www.nrsforu.com for
additional information about your contract and to learn more about other
products and services offered by Nationwide Financial.
THE ANNUAL REPORT HAS FOUR MAJOR FINANCIAL SECTIONS:
STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNER'S EQUITY
This statement begins on page 7 and lists all of the underlying mutual funds of
the variable account, the number of shares owned, the amount paid for the shares
and their market value as of the close of business on June 30, 2000. The mutual
funds are listed in alphabetical order. The market value of the assets changes
as the underlying mutual funds change in value. As contract owners make exchange
transactions between the funds, the number of shares increases or decreases
accordingly. When money is deposited or withdrawn by a contract owner, shares
are correspondingly purchased or redeemed. The total market value of the funds
is equal to the TOTAL INVESTMENTS of the variable account.
ACCOUNTS RECEIVABLE, if applicable, represents an asset of the variable
account for money market fund shares purchased by contract owners and reinvested
dividend shares added to contract owners' accounts, but not yet added to Total
investments. Total investments plus Accounts receivable equal TOTAL ASSETS of
the variable account.
ACCOUNTS PAYABLE, if applicable, is a liability of the variable account for
money market fund shares redeemed by contract owners' but not yet deducted from
Total investments.
Total assets minus Accounts payable equals CONTRACT OWNERS' EQUITY. A summary of
Contract owners' equity by funds series may be found on page 37. This summary
also includes investment return for the reporting period for each fund series.
STATEMENTS OF OPERATIONS AND STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY
These statements begin on page 11 and present the financial activity of each
underlying mutual fund sub-account of the variable account, for the periods
indicated.
The INVESTMENT ACTIVITY section shows income to the variable account for
reinvested dividends and capital gain distributions paid by the underlying
mutual funds. Also shown are the variable account fees which are assessed
through the daily unit value calculation and which represent an expense to the
variable account and its contract owners. This section also shows the realized
gain or loss as mutual fund shares are sold, and the change in unrealized gain
or loss, which represents the changes in market value of the underlying fund
shares.
The EQUITY TRANSACTIONS section illustrates the receipt of purchase payments, as
new contracts are sold or additional payments made to existing contracts. Also
presented are deductions from the variable account when the contract owners
withdraw money.
The sum of the above two sections represents the NET CHANGE IN CONTRACT OWNERS'
EQUITY which when added to the beginning Contract owners' equity equals Contract
owners' equity at the end of the reporting period.
NOTES TO FINANCIAL STATEMENTS, beginning on page 32, provide further disclosures
about the variable account and its underlying contract provisions.
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================================================================================
#NATIONWIDE DC VARIABLE ACCOUNT
STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS' EQUITY
JUNE 30, 2000
(UNAUDITED)
<TABLE>
<S> <C>
ASSETS:
Investments at market value:
AIM Equity Funds, Inc. - AIM Constellation Fund - Institutional Class (AIMCon)
410,140 shares (cost $15,346,079) ............................................................. $ 18,903,348
American Century Growth Fund - Investor Class (ACGrI)
8,741,714 shares (cost $226,957,171) .......................................................... 300,889,797
American Century Income & Growth Fund - Investor Class (ACIncGro)
449,431 shares (cost $14,251,891) ............................................................. 14,696,392
American Century International Discovery Fund - Investor Class (ACIntlDisc)
5,318,100 shares (cost $92,990,161) ........................................................... 92,481,754
American Century Select Fund - Investor Class (ACSelect)
84,066 shares (cost $4,009,683) ............................................................... 4,515,999
American Century Ultra Fund - Investor Class (ACUltra)
16,516,340 shares (cost $523,755,286) ......................................................... 727,049,271
American Century Value Fund - Investor Class (ACValue)
1,963 shares (cost $10,798) ................................................................... 10,288
American Century VP - American Century VP Balanced (ACVPBal)
3,897 shares (cost $29,007) ................................................................... 29,462
American Century VP - American Century VP Capital Appreciation (ACVPCapAp)
10,030 shares (cost $109,068) ................................................................. 170,411
The Bond Fund of America(SM), Inc. (BdFdAm)
1,217,009 shares (cost $15,720,677) ........................................................... 15,516,864
Brown Capital Management - Small Company Fund (BrnCapSmCo)
109,196 shares (cost $3,598,581) .............................................................. 3,316,283
Davis New York Venture Fund, Inc. - Class A (DNYVenFd)
14,706 shares (cost $417,578) ................................................................. 453,821
Delaware Decatur Equity Income Fund Institutional Class (DeDecInc)
13,074 shares (cost $249,421) ................................................................. 202,124
Dreyfus Appreciation Fund, Inc. (DryApp)
117,897 shares (cost $5,242,462) .............................................................. 5,534,101
Dreyfus Cash Management - Class A (DryCsMgt)
169,030 shares (cost $169,030) ................................................................ 169,030
Dreyfus Premier Midcap Stock - Class A (DryPreMCap)
209,492 shares (cost $3,942,738) .............................................................. 4,036,912
The Dreyfus Premier Third Century Fund, Inc. - Class Z (DryPrm3CZ))
5,318,619 shares (cost $61,063,530) ........................................................... 78,715,558
Dreyfus S&P 500 Index Fund (Dry500Ix)
2,698,013 shares (cost $94,943,167) ........................................................... 114,935,337
The Dreyfus Socially Responsible Growth Fund, Inc. (DrySRGro)
1,355 shares (cost $42,838) ................................................................... 54,295
</TABLE>
(Continued)
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NATIONWIDE DC VARIABLE ACCOUNT
STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS' EQUITY, CONTINUED
(UNAUDITED)
<TABLE>
<S> <C>
Dreyfus Stock Index Fund (DryStkIx)
4,877 shares (cost $162,494) .................................................................. 185,432
Evergreen Income and Growth Fund - Class Y (EvIncGro)
159,683 shares (cost $3,313,511) .............................................................. 3,370,904
Federated Investment Series Funds, Inc. - Federated Bond Fund - Class F (FedBdFd)
67,367 shares (cost $593,335) ................................................................. 591,482
Federated U.S. Government Securities Fund: 2-5 Years -
Institutional Shares (FedUSGvt)
518,411 shares (cost $5,432,274) ............................................................... 5,386,286
Fidelity Advisor Growth Opportunities Fund - Class A (FAGrOppA)
65,235 shares (cost $3,127,522) ............................................................... 2,873,607
Fidelity Advisor High Yield Fund - Class T (FAHiYld)
101,452 shares (cost $1,137,887) .............................................................. 1,060,172
Fidelity Asset Manager(TM) (FidAsMgr)
841,488 shares (cost $15,281,659) ............................................................. 15,819,977
Fidelity Capital & Income Fund (FidCapInc)
130,365 shares (cost $1,234,841) .............................................................. 1,157,644
Fidelity Contrafund (FidContr)
8,639,198 shares (cost $421,214,885) .......................................................... 498,827,302
Fidelity Equity - Income Fund (FidEqInc)
4,982,791 shares (cost $231,521,453) .......................................................... 250,983,190
Fidelity Growth & Income Portfolio (FidGrInc)
443,106 shares (cost $19,510,723) ............................................................. 20,963,349
Fidelity Magellan(R) Fund (FidMgln)
3,087,107 shares (cost $293,226,214) .......................................................... 415,617,160
Fidelity VIP Fund II - Asset Manager Portfolio (FidVIPAM)
3,809 shares (cost $62,370) ................................................................... 63,005
Fidelity VIP Fund - Equity-Income Portfolio (FidVIPEI)
10,313 shares (cost $237,666) ................................................................. 236,264
Fidelity VIP Fund - Growth Portfolio (FidVIPGr)
8,220 shares (cost $319,408) .................................................................. 423,644
Fidelity VIP Fund - High Income Portfolio (FidVIPHI)
3,277 shares (cost $38,888) ................................................................... 32,900
Fidelity VIP Fund - Overseas Portfolio (FidVIPOv)
8,875 shares (cost $179,728) .................................................................. 208,218
The Growth Fund of America(R), Inc. (GroFdAm)
1,619,469 shares (cost $39,179,667) ........................................................... 54,770,457
The Income Fund of America(R), Inc. (IncFdAm)
1,069,780 shares (cost $18,408,805) ........................................................... 16,260,654
INVESCO Dynamics Fund, Inc. - Investor Class (InvDynam)
5,195,434 shares (cost $142,190,257) .......................................................... 150,096,075
INVESCO Equity Income Fund, Inc. - Investor Class (InvEqInc)
2,035,884 shares (cost $29,872,468) ........................................................... 31,556,196
INVESCO Total Return Fund - Investor Class (InvTotRet)
44,413 shares (cost $1,332,828) ............................................................... 1,204,044
Janus Fund (JanFund)
9,434,840 shares (cost $364,754,808) .......................................................... 428,247,400
</TABLE>
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<TABLE>
<S> <C>
Janus Worldwide Fund (JanWrldwde)
32,097 shares (cost $1,781,629) ............................................................... 2,511,303
MAS Funds - Fixed Income Portfolio - Institutional Shares (MASFIP)
495,785 shares (cost $5,445,234) .............................................................. 5,483,384
Massachusetts Investors Growth Stock Fund - Class A (MFSGrStk)
701,457 shares (cost $9,100,563) .............................................................. 14,765,680
MFS(R) Growth Opportunities Fund - Class A (MFSGrOpp)
2,425,983 shares (cost $35,168,408) ........................................................... 47,209,632
MFS(R) High Income Fund - Class A (MFSHiInc)
1,005,347 shares (cost $4,885,043) ............................................................ 4,785,453
Morgan Stanley Dean Witter Institutional Fund, Inc. -
Equity Growth Portfolio - Class B (MSIEqGroB)
173,280 shares (cost $4,384,208) ............................................................... 4,581,517
NAAT - The Aggressive Portfolio (NAATAggr)
423,316 shares (cost $5,034,918) .............................................................. 5,727,464
NAAT - The Conservative Portfolio (NAATCons)
92,779 shares (cost $999,225) ................................................................. 965,830
NAAT - The Moderate Portfolio (NAATMod)
350,385 shares (cost $4,062,050) .............................................................. 4,407,838
NAAT - The Moderately Aggressive Portfolio (NAATModAgg)
388,947 shares (cost $4,642,078) .............................................................. 5,056,305
NAAT - The Moderately Conservative Portfolio (NAATModCon)
134,365 shares (cost $1,529,324) .............................................................. 1,566,691
Nationwide(R) Bond Fund - Class D (NWBdFd)
30,299 shares (cost $288,355) ................................................................. 268,452
Nationwide(R) Fund - Class D (NWFund)
5,057,133 shares (cost $150,865,430) .......................................................... 155,911,398
Nationwide(R) Growth Fund - Class D (NWGroFd)
784,333 shares (cost $12,686,011) ............................................................. 13,027,765
Nationwide(R) Money Market Fund - Prime Shares (NWMyMkt)
94,244,185 shares (cost $94,244,185) .......................................................... 94,244,185
Nationwide(R) S&P 500 Index Fund - Institutional Service Class (NWIndxFd)
1,085,852 shares (cost $13,139,790) ........................................................... 13,790,317
Nationwide(R) Separate Account Trust - Government Bond Fund (NSATGvtBd)
2,028 shares (cost $22,682) ................................................................... 22,086
Nationwide(R) Separate Account Trust - Income Fund (NSATInc)
5,022 shares (cost $48,397) ................................................................... 48,609
Nationwide(R) Separate Account Trust - Money Market Fund (NSATMyMkt)
89,217 shares (cost $89,217) .................................................................. 89,217
Nationwide(R) Separate Account Trust - Small Company Fund (NSATSmCo)
346,521 shares (cost $6,847,892) .............................................................. 8,247,209
Nationwide(R) Separate Account Trust - Total Return Fund (NSATTotRe)
8,962 shares (cost $139,688) .................................................................. 173,764
Neuberger Berman Advisors Management Trust - Growth Portfolio (NBAMTGro)
2,127 shares (cost $58,823) ................................................................... 84,303
Neuberger Berman Advisers Management Trust -
Limited Maturity Bond Portfolio (NBAMTLMat)
1,090 shares (cost $14,721) .................................................................... 13,728
Neuberger Berman Advisors Management Trust - Partners Portfolio (NBAMTPart)
4,557 shares (cost $83,200) ................................................................... 72,781
(Continued)
</TABLE>
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NATIONWIDE DC VARIABLE ACCOUNT
STATEMENT OF ASSETS, LIABILITIES AND CONTRACT OWNERS' EQUITY, CONTINUED
(UNAUDITED)
<TABLE>
<S> <C>
Neuberger Berman Equity Funds - Guardian Fund (NBGuard)
77,269 shares (cost $1,464,393) ............................................................... 1,450,339
Neuberger Berman Equity Funds - Manhattan Fund (NBManhFd)
22,145 shares (cost $265,647) ................................................................. 420,984
Neuberger Berman Equity Trust - Partners Trust (NBPartTr)
16,542 shares (cost $292,506) ................................................................. 295,278
Oppenheimer Global Fund - Class A (OppGlob)
226,354 shares (cost $14,431,675) ............................................................. 15,539,187
Prestige Balanced Fund - Institutional Service Class (PrBalI)
77,615 shares (cost $865,424) ................................................................. 870,840
Prestige International Fund - Institutional Service Class (PrIntlI)
46,443 shares (cost $542,968) ................................................................. 556,389
Prestige Large Cap Growth Fund - Institutional Service Class (PrLgCapGrI)
223,431 shares (cost $3,160,442) .............................................................. 3,527,981
Prestige Large Cap Value Fund - Institutional Service Class (PrLgCapVlI)
49,922 shares (cost $490,008) ................................................................. 485,731
Prestige Small Cap Fund - Institutional Service Class (PrSmCapI)
164,185 shares (cost $2,243,020) .............................................................. 2,157,385
Putnam International Growth Fund - Class A (PutIntGro)
4,247 shares (cost $126,092) .................................................................. 127,072
Putnam Investors Fund - Class A (PutInvFd)
5,267,934 shares (cost $64,361,576) ........................................................... 98,352,325
Putnam Voyager Fund - Class A (PutVoyFd)
12,934,521 shares (cost $292,144,851) ......................................................... 404,074,438
SEI Index Funds - S&P 500 Index Portfolio - Class E (SEI500Ix)
1,500,510 shares (cost $59,177,227) ........................................................... 67,763,019
Seligman Growth Fund, Inc. - Class A (SelGroFd)
508,675 shares (cost $3,056,272) .............................................................. 4,857,842
T. Rowe Price International Funds, Inc. - International Stock Fund(R) (TRIntStk)
2,664,599 shares (cost $47,701,026) ........................................................... 48,682,218
Templeton Foreign Fund - Class A (TemForFd)
7,051,482 shares (cost $69,271,720) ........................................................... 75,098,283
Warburg Pincus Emerging Growth Fund - Common Shares (WPEmGro)
96,592 shares (cost $5,181,495) ............................................................... 5,004,431
---------------
Total investments .......................................................................... 4,393,935,062
Accounts receivable ................................................................................. 35,275
---------------
Total assets ............................................................................... 4,393,970,337
ACCOUNTS PAYABLE ....................................................................................... 8,285
---------------
CONTRACT OWNERS' EQUITY (NOTE 4) ....................................................................... $ 4,393,962,052
===============
</TABLE>
See accompanying notes to financial statements.
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NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY
STATEMENTS OF OPERATIONS
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
Total AIMCon
------------------------------ ----------------------------
2000 1999 2000 1999
-------------- ------------- ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ 8,664,854 7,875,866 - -
Variable account fee (notes 2 and 5)... (15,849,343) (12,632,065) (31,606) (24,906)
-------------- ------------- ------------ ------------
Net investment activity.............. (7,184,489) (4,756,199) (31,606) (24,906)
Proceeds from mutual fund shares sold.. 1,147,857,472 348,865,571 2,400,756 1,728,112
Cost of mutual fund shares sold........ (1,030,914,024) (284,336,348) (1,636,762) (1,565,354)
-------------- ------------- ------------ ------------
Realized gain (loss) on investments.. 116,943,448 64,529,223 763,994 162,758
Change in unrealized gain (loss) on
investments ........................ (158,014,623) 253,887,045 452,788 576,998
-------------- ------------- ------------ ------------
Net gain (loss) on investments....... (41,071,175) 318,416,268 1,216,782 739,756
-------------- ------------- ------------ ------------
Reinvested capital gains............... 30,765,472 28,245,650 - -
-------------- ------------- ------------ ------------
Net increase (decrease) in contract
owners' equity resulting from
operations. ................. (17,490,192) 341,905,719 1,185,176 714,850
-------------- ------------- ------------ ------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 435,501,245 330,425,623 2,908,412 1,150,321
Transfers between funds ............... - - 2,551,900 (1,114,445)
Redemptions............................ (171,385,318) (108,127,660) (470,747) (258,386)
Annual contract maintenance charge
(note 2) ........................... (4,783) (2,872) - -
Contingent deferred sales charges
(note 2) ............................ (2,064) (364) - -
Adjustments to maintain reserves....... (136,960) (105,290) (37) (53)
-------------- ------------- ------------ ------------
Net equity transactions............ 263,972,120 222,189,437 4,989,528 (222,563)
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 246,481,928 564,095,156 6,174,704 492,287
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD ................................ 4,147,480,124 2,871,012,180 12,728,610 8,314,877
-------------- ------------- ------------ ------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 4,393,962,052 3,435,107,336 18,903,314 8,807,164
============== ============= ============ ============
</TABLE>
<TABLE>
<CAPTION>
ACGrI ACIncGro
----------------------------- -----------------------------
2000 1999 2000 1999
------------ ------------- ------------- -------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. - - 61,993 27,184
Variable account fee (notes 2 and 5)... (1,058,784) (889,436) (40,501) (12,903)
------------ ------------- ------------- -------------
Net investment activity.............. (1,058,784) (889,436) 21,492 14,281
Proceeds from mutual fund shares sold.. 12,873,230 29,148,889 1,203,112 548,413
Cost of mutual fund shares sold........ (7,373,489) (22,179,220) (1,089,586) (525,745)
------------ ------------- ------------- -------------
Realized gain (loss) on investments.. 5,499,741 6,969,669 113,526 22,668
Change in unrealized gain (loss) on
investments ........................ 12,764,674 15,701,624 (526,077) 351,360
------------ ------------- ------------- -------------
Net gain (loss) on investments....... 18,264,415 22,671,293 (412,551) 374,028
------------ ------------- ------------- -------------
Reinvested capital gains............... - - - 8,652
------------ ------------- ------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations. ................. 17,205,631 21,781,857 (391,059) 396,961
------------ ------------- ------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 14,457,275 16,587,728 4,101,580 1,867,279
Transfers between funds ............... (1,572,562) (2,977,626) 1,954,565 3,102,342
Redemptions............................ (8,847,591) (7,553,292) (465,850) (204,500)
Annual contract maintenance charge
(note 2) ........................... (299) (154) (1) -
Contingent deferred sales charges
(note 2) ............................ - - - -
Adjustments to maintain reserves....... 672 (204,714) 9 706
------------ ------------- ------------- -------------
Net equity transactions............ 4,037,495 5,851,942 5,590,303 4,765,827
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 21,243,126 27,633,799 5,199,244 5,162,788
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD ................................ 279,647,701 205,062,510 9,497,157 256,005
------------ ------------- ------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 300,890,827 232,696,309 14,696,401 5,418,793
============ ============= ============= =============
</TABLE>
(Continued)
11
<PAGE> 12
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
ACIntlDisc ACSelect
---------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ - - - -
Variable account fee (notes 2 and 5)... (171,527) (2,961) (14,724) (12,721)
------------ ------------ ------------ ------------
Net investment activity.............. (171,527) (2,961) (14,724) (12,721)
Proceeds from mutual fund shares sold.. 311,430,232 3,192,194 445,860 216,913
Cost of mutual fund shares sold........ (313,982,457) (3,073,404) (302,902) (140,396)
------------ ------------ ------------ ------------
Realized gain (loss) on investments.. (2,552,225) 118,790 142,958 76,517
Change in unrealized gain (loss) on
investments ......................... (2,595,707) 79,453 (52,739) 320,240
------------ ------------ ------------ ------------
Net gain (loss) on investments....... (5,147,932) 198,243 90,219 396,757
------------ ------------ ------------ ------------
Reinvested capital gains............... 390,808 - - -
------------ ------------ ------------ ------------
Net increase (decrease) in contract
owners' equity resulting from
operations. ................... (4,928,651) 195,282 75,495 384,036
------------ ------------ ------------ ------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 23,269,225 212,485 137,331 347,188
Transfers between funds ............... 56,474,466 1,470,737 (316,862) 173,838
Redemptions............................ (4,844,055) (3,809) (68,226) (92,874)
Annual contract maintenance charge
(note 2) ............................ (14) - - -
Contingent deferred sales charges
(note 2) ........................... - - - -
Adjustments to maintain reserves....... 34,855 (8) 24 20
------------ ------------ ------------ ------------
Net equity transactions............ 74,934,477 1,679,405 (247,733) 428,172
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 70,005,826 1,874,687 (172,238) 812,208
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD ................................ 22,475,715 180,760 4,688,251 3,409,830
------------ ------------ ------------ ------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 92,481,541 2,055,447 4,516,013 4,222,038
============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
ACUltra ACValue
----------------------------- -----------------------------
2000 1999 2000 1999
------------ ------------- ------------- -------------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. - - 52 -
Variable account fee (notes 2 and 5)... (2,868,152) (2,249,166) (23) -
------------ ------------- ------------- -------------
Net investment activity.............. (2,868,152) (2,249,166) 29 -
Proceeds from mutual fund shares sold.. 35,631,342 15,295,997 74,004 -
Cost of mutual fund shares sold........ (19,901,831) (8,270,711) (73,142) -
------------ ------------- ------------- -------------
Realized gain (loss) on investments.. 15,729,511 7,025,286 862 -
Change in unrealized gain (loss) on
investments ......................... (44,424,915) 55,546,145 (510) -
------------ ------------- ------------- -------------
Net gain (loss) on investments....... (28,695,404) 62,571,431 352 -
------------ ------------- ------------- -------------
Reinvested capital gains............... - - - -
------------ ------------- ------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations. ................... (31,563,556) 60,322,265 381 -
------------ ------------- ------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 60,092,983 51,610,364 1,095 -
Transfers between funds ............... (15,212,817) 6,190,259 8,972 -
Redemptions............................ (25,038,592) (17,886,594) (161) -
Annual contract maintenance charge
(note 2) ............................ (419) (243) - -
Contingent deferred sales charges
(note 2) ........................... - 5 - -
Adjustments to maintain reserves....... 744 3,558 1 -
------------ ------------- ------------- -------------
Net equity transactions............ 19,841,899 39,917,349 9,907 -
NET CHANGE IN CONTRACT OWNERS' EQUITY.... (11,721,657) 100,239,614 10,288 -
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD ................................ 738,772,269 486,769,512 - -
------------ ------------- ------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 727,050,612 587,009,126 10,288 -
============ ============= ============= =============
</TABLE>
12
<PAGE> 13
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
ACVPBal ACVPCapAp
----------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ 703 285 - -
Variable account fee (notes 2 and 5)... (132) (84) (665) (371)
------------ ------------ ------------ ------------
Net investment activity.............. 571 201 (665) (371)
Proceeds from mutual fund shares sold.. 41 - 1,139 1,269
Cost of mutual fund shares sold........ (37) - (701) (1,389)
------------ ------------ ------------ ------------
Realized gain (loss) on investments.. 4 - 438 (120)
Change in unrealized gain (loss) on
investments ......................... (735) (1,438) 17,890 12,290
------------ ------------ ------------ ------------
Net gain (loss) on investments....... (731) (1,438) 18,328 12,170
------------ ------------ ------------ ------------
Reinvested capital gains............... 443 1,964 4,143 -
------------ ------------ ------------ ------------
Net increase (decrease) in contract
owners' equity resulting from
operations .................... 283 727 21,806 11,799
------------ ------------ ------------ ------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 2,124 2,816 1,676 3,492
Transfers between funds ............... 1,415 4,547 20,000 -
Redemptions............................ - - (623) (1,034)
Annual contract maintenance charge
(note 2) ............................ - - (1) (1)
Contingent deferred sales charges
(note 2) ............................ - - - -
Adjustments to maintain reserves....... 1 - 2 1
------------ ------------ ------------ ------------
Net equity transactions............ 3,540 7,363 21,054 2,458
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 3,823 8,090 42,860 14,257
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD ................................ 25,641 13,664 127,553 74,477
------------ ------------ ------------ ------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 29,464 21,754 170,413 88,734
============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
BdFdAm BrnCapSmCo
---------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. 600,212 660,160 - -
Variable account fee (notes 2 and 5)... (62,419) (78,057) (6,734) -
----------- ------------- ------------- -------------
Net investment activity.............. 537,793 582,103 (6,734) -
Proceeds from mutual fund shares sold.. 11,257,820 6,340,056 1,262,088 -
Cost of mutual fund shares sold........ (12,007,583) (6,525,177) (1,264,958) -
----------- ------------- ------------- -------------
Realized gain (loss) on investments.. (749,763) (185,121) (2,870) -
Change in unrealized gain (loss) on
investments ......................... 456,741 (307,348) (281,121) -
----------- ------------- ------------- -------------
Net gain (loss) on investments....... (293,022) (492,469) (283,991) -
----------- ------------- ------------- -------------
Reinvested capital gains............... - - 188,394 -
----------- ------------- ------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations .................... 244,771 89,634 (102,331) -
----------- ------------- ------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 911,062 1,340,381 586,171 -
Transfers between funds ............... (2,180,666) (1,503,554) 2,782,979 -
Redemptions............................ (841,291) (932,979) (124,148) -
Annual contract maintenance charge
(note 2) ............................ (19) (23) - -
Contingent deferred sales charges
(note 2) ............................ - - - -
Adjustments to maintain reserves....... (155) 829 (35) -
----------- ------------- ------------- -------------
Net equity transactions............ (2,111,069) (1,095,346) 3,244,967 -
NET CHANGE IN CONTRACT OWNERS' EQUITY.... (1,866,298) (1,005,712) 3,142,636 -
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD ................................ 17,404,991 18,775,654 173,610 -
----------- ------------- ------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 15,538,693 17,769,942 3,316,246 -
=========== ============= ============= =============
</TABLE>
(Continued)
13
<PAGE> 14
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
DNYVenFd DeDecInc
---------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ - - 2,978 4,331
Variable account fee (notes 2 and 5)... (1,955) (1,654) (954) (1,427)
------------ ------------ ------------ ------------
Net investment activity.............. (1,955) (1,654) 2,024 2,904
Proceeds from mutual fund shares sold.. 175,058 33,169 35,023 39,709
Cost of mutual fund shares sold........ (127,600) (28,671) (40,180) (34,527)
------------ ------------ ------------ ------------
Realized gain (loss) on investments.. 47,458 4,498 (5,157) 5,182
Change in unrealized gain (loss) on
investments ......................... (20,268) 49,342 (11,197) 5,546
------------ ------------ ------------ ------------
Net gain (loss) on investments....... 27,190 53,840 (16,354) 10,728
------------ ------------ ------------ ------------
Reinvested capital gains............... - - - -
------------ ------------ ------------ ------------
Net increase (decrease) in contract
owners' equity resulting from
operations. ................... 25,235 52,186 (14,330) 13,632
------------ ------------ ------------ ------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 64,399 - 6,014 10,727
Transfers between funds ............... 88,428 46,660 (31,912) (32,471)
Redemptions............................ (69,310) (31,466) (3,419) (6,489)
Annual contract maintenance charge
(note 2) ............................ - - - -
Contingent deferred sales charges
(note 2) ............................ - - - -
Adjustments to maintain reserves....... 3 (13) 4 1
------------ ------------ ------------ ------------
Net equity transactions............ 83,520 15,181 (29,313) (28,232)
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 108,755 67,367 (43,643) (14,600)
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD ................................ 345,068 350,427 245,772 323,087
------------ ------------ ------------ ------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 453,823 417,794 202,129 308,487
============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
DryApp DryCsMgt
----------------------------- -----------------------------
2000 1999 2000 1999
------------ ------------- ------------- -------------
<S> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. 622 - 5,492 5,348
Variable account fee (notes 2 and 5)... (15,966) (9,381) (817) (1,007)
------------ ------------- ------------- -------------
Net investment activity.............. (15,344) (9,381) 4,675 4,341
Proceeds from mutual fund shares sold.. 1,391,640 382,721 269,966 37,128
Cost of mutual fund shares sold........ (1,286,401) (355,312) (269,966) (37,128)
------------ ------------- ------------- -------------
Realized gain (loss) on investments.. 105,239 27,409 - -
Change in unrealized gain (loss) on
investments ......................... 40,405 166,239 - -
------------ ------------- ------------- -------------
Net gain (loss) on investments....... 145,644 193,648 - -
------------ ------------- ------------- -------------
Reinvested capital gains............... 43,567 201 - -
------------ ------------- ------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations. ................... 173,867 184,468 4,675 4,341
------------ ------------- ------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 1,239,830 1,265,915 - -
Transfers between funds ............... (619,814) 1,366,185 11,322 -
Redemptions............................ (104,663) (42,748) (30,435) (41,466)
Annual contract maintenance charge
(note 2) ............................ (3) - - -
Contingent deferred sales charges
(note 2) ............................ - - - -
Adjustments to maintain reserves....... 17 1 (193) (5)
------------ ------------- ------------- -------------
Net equity transactions............ 515,367 2,589,353 (19,306) (41,471)
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 689,234 2,773,821 (14,631) (37,130)
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD ................................ 4,844,885 803,611 183,462 243,930
------------ ------------- ------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 5,534,119 3,577,432 168,831 206,800
============ ============= ============= =============
</TABLE>
14
<PAGE> 15
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
DryPreMCap DryPrm3CZ
---------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ - - - -
Variable account fee (notes 2 and 5)... (3,782) (500) (211,499) (203,357
------------ ------------ ------------ ------------
Net investment activity.............. (3,782) (500) (211,499) (203,357)
Proceeds from mutual fund shares sold.. 425,138 104,584 4,690,863 3,149,549
Cost of mutual fund shares sold........ (378,185) (105,100) (2,947,025) (1,671,372)
------------ ------------ ------------ ------------
Realized gain (loss) on investments.. 46,953 (516) 1,743,838 1,478,177
Change in unrealized gain (loss) on
investments ......................... 49,343 17,664 (445,230) 5,365,632
------------ ------------ ------------ ------------
Net gain (loss) on investments....... 96,296 17,148 1,298,608 6,843,809
------------ ------------ ------------ ------------
Reinvested capital gains............... - - - -
------------ ------------ ------------ ------------
Net increase (decrease) in contract
owners' equity resulting from
operations. ................... 92,514 16,648 1,087,109 6,640,452
------------ ------------ ------------ ------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 849,758 140,841 7,203,339 6,319,265
Transfers between funds ............... 2,492,094 102,535 (6,004,750) (1,750,274)
Redemptions............................ (67,493) (6) (2,305,709) (2,326,903)
Annual contract maintenance charge
(note 2) ............................ (3) - (79) (40)
Contingent deferred sales charges
(note 2) ............................ - - - -
Adjustments to maintain reserves....... (5) (19) 116 4,538
------------ ------------ ------------ ------------
Net equity transactions............ 3,274,351 243,351 (1,107,083) 2,246,586
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 3,366,865 259,999 (19,974) 8,887,038
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD ................................ 670,045 19,055 78,735,686 56,526,907
------------ ------------ ------------ ------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 4,036,910 279,054 78,715,712 65,413,945
============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
Dry500Ix DrySRGro
----------------------------- -----------------------------
2000 1999 2000 1999
------------ ------------- ------------- -------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. - - 7 -
Variable account fee (notes 2 and 5)... (466,761) (345,518) (213) (107)
------------ ------------- ------------- -------------
Net investment activity.............. (466,761) (345,518) (206) (107)
Proceeds from mutual fund shares sold.. 6,058,947 4,452,581 435 -
Cost of mutual fund shares sold........ (4,189,667) (3,265,084) (238) -
------------ ------------- ------------- -------------
Realized gain (loss) on investments.. 1,869,280 1,187,497 197 -
Change in unrealized gain (loss) on
investments ......................... (2,564,827) 8,073,417 1,249 2,828
------------ ------------- ------------- -------------
Net gain (loss) on investments....... (695,547) 9,260,914 1,446 2,828
------------ ------------- ------------- -------------
Reinvested capital gains............... - - - -
------------ ------------- ------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations. ................... (1,162,308) 8,915,396 1,240 2,721
------------ ------------- ------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 18,447,560 16,884,001 14,370 5,175
Transfers between funds ............... (9,148,469) 1,595,081 - -
Redemptions............................ (3,558,526) (3,205,368) (392) -
Annual contract maintenance charge
(note 2) ............................ (73) (10) - -
Contingent deferred sales charges
(note 2) ............................ - - - -
Adjustments to maintain reserves....... 208 8,401 1 1
------------ ------------- ------------- -------------
Net equity transactions............ 5,740,700 15,282,105 13,979 5,176
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 4,578,392 24,197,501 15,219 7,897
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD ................................ 110,357,325 67,670,706 39,078 19,414
------------ ------------- ------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 114,935,717 91,868,207 54,297 27,311
============ ============= ============= =============
</TABLE>
(Continued)
15
<PAGE> 16
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
DryStkix EvincGro
----------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ 858 949 83,359 94,223
Variable account fee (notes 2 and 5)... (843) (762) (13,072) (15,457)
------------ ------------ ------------ ------------
Net investment activity.............. 15 187 70,287 78,766
Proceeds from mutual fund shares sold.. 23,948 5,298 344,307 553,148
Cost of mutual fund shares sold........ (18,517) (2,496) (284,422) (486,339)
------------ ------------ ------------ ------------
Realized gain (loss) on investments.. 5,431 2,802 59,885 66,809
Change in unrealized gain (loss) on
investments ......................... (7,755) 14,158 (269,865) 345,684
------------ ------------ ------------ ------------
Net gain (loss) on investments....... (2,324) 16,960 (209,980) 412,493
------------ ------------ ------------ ------------
Reinvested capital gains............... 197 731 - -
------------ ------------ ------------ ------------
Net increase (decrease) in contract
owners' equity resulting from
operations .................... (2,112) 17,878 (139,693) 491,259
------------ ------------ ------------ ------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 20,902 45,489 73,483 99,838
Transfers between funds ............... (6,767) (566) (281,624) (513,178)
Redemptions............................ (15,269) - (73,932) (69,810)
Annual contract maintenance charge
(note 2) ............................ - - (8) (18)
Contingent deferred sales charges
(note 2) ............................ - - - -
Adjustments to maintain reserves....... 1 2 (3) (27)
------------ ------------ ------------ ------------
Net equity transactions............ (1,133) 44,925 (282,084) (483,195)
NET CHANGE IN CONTRACT OWNERS' EQUITY.... (3,245) 62,803 (421,777) 8,064
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD ................................ 188,681 123,087 3,792,677 3,931,008
------------ ------------ ------------ ------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 185,436 185,890 3,370,900 3,939,072
============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
FedBdFd FedUSGvt
---------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. 59,621 36,865 159,464 167,377
Variable account fee (notes 2 and 5)... (3,648) (2,924) (24,689) (33,157)
------------ ------------- ------------- -------------
Net investment activity.............. 55,973 33,941 134,775 134,220
Proceeds from mutual fund shares sold.. 3,788,884 483,543 4,064,169 1,833,961
Cost of mutual fund shares sold........ (3,936,975) (496,310) (4,302,680) (1,824,413)
------------ ------------- ------------- -------------
Realized gain (loss) on investments.. (148,091) (12,767) (238,511) 9,548
Change in unrealized gain (loss) on
investments ......................... 97,762 (50,765) 245,922 (255,215)
------------ ------------- ------------- -------------
Net gain (loss) on investments....... (50,329) (63,532) 7,411 (245,667)
------------ ------------- ------------- -------------
Reinvested capital gains............... - - - -
------------ ------------- ------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations .................... 5,644 (29,591) 142,186 (111,447)
------------ ------------- ------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 59,897 110,943 359,319 778,503
Transfers between funds ............... (1,053,406) 993,778 (1,892,788) 1,286,025
Redemptions............................ (10,864) (10,780) (402,521) (564,345)
Annual contract maintenance charge
(note 2) ............................ - - (27) (6)
Contingent deferred sales charges
(note 2) ............................ - - - -
Adjustments to maintain reserves....... (10,803) 90 (1,708) (6)
------------ ------------- ------------- -------------
Net equity transactions............ (1,015,176) 1,094,031 (1,937,725) 1,500,171
NET CHANGE IN CONTRACT OWNERS' EQUITY.... (1,009,532) 1,064,440 (1,795,539) 1,388,724
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD ................................ 1,604,710 280,000 7,181,625 6,242,531
------------ ------------- ------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 595,178 1,344,440 5,386,086 7,631,255
============ ============= ============= =============
</TABLE>
16
<PAGE> 17
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
FAGrOppA FAHiYld
---------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ - - 41,745 8,131
Variable account fee (notes 2 and 5)... (9,278) (4,206) (3,505) (841)
------------ ------------ ------------ ------------
Net investment activity.............. (9,278) (4,206) 38,240 7,290
Proceeds from mutual fund shares sold.. 536,647 186,202 249,559 334,918
Cost of mutual fund shares sold........ (594,379) (183,130) (269,924) (330,000)
------------ ------------ ------------ ------------
Realized gain (loss) on investments.. (57,732) 3,072 (20,365) 4,918
Change in unrealized gain (loss) on
investments ......................... (58,728) 106,539 (63,600) (2,034)
------------ ------------ ------------ ------------
Net gain (loss) on investments....... (116,460) 109,611 (83,965) 2,884
------------ ------------ ------------ ------------
Reinvested capital gains............... 5,063 197 - -
------------ ------------ ------------ ------------
Net increase (decrease) in contract
owners' equity resulting from
operations .................... (120,675) 105,602 (45,725) 10,174
------------ ------------ ------------ ------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 752,622 745,547 159,876 82,544
Transfers between funds ............... (309,824) 679,613 251,407 190,699
Redemptions............................ (60,390) (10,374) (38,761) (6,929)
Annual contract maintenance charge
(note 2) ............................ (2) - (3) -
Contingent deferred sales charges
(note 2) ............................ - - - -
Adjustments to maintain reserves....... (50) (46) (28) (18)
------------ ------------ ------------ ------------
Net equity transactions............ 382,356 1,414,740 372,491 266,296
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 261,681 1,520,342 326,766 276,470
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD ................................ 2,611,347 305,896 733,378 18,965
------------ ------------ ------------ ------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 2,873,028 1,826,238 1,060,144 295,435
============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
FidAsMgr FidCapInc
---------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------- ------------- -------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. 227,258 173,151 49,400 53,329
Variable account fee (notes 2 and 5)... (61,788) (44,966) (4,422) (5,062)
------------ ------------- ------------- -------------
Net investment activity.............. 165,470 128,185 44,978 48,267
Proceeds from mutual fund shares sold.. 1,051,514 899,898 104,383 146,665
Cost of mutual fund shares sold........ (961,086) (821,061) (99,331) (124,683)
------------ ------------- ------------- -------------
Realized gain (loss) on investments.. 90,428 78,837 5,052 21,982
Change in unrealized gain (loss) on
investments ......................... 241,115 335,016 (58,120) 70,014
------------ ------------- ------------- -------------
Net gain (loss) on investments....... 331,543 413,853 (53,068) 91,996
------------ ------------- ------------- -------------
Reinvested capital gains............... - - - 11,702
------------ ------------- ------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations .................... 497,013 542,038 (8,090) 151,965
------------ ------------- ------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 1,946,857 1,554,330 - -
Transfers between funds ............... 1,138,818 304,146 (59,723) (25,353)
Redemptions............................ (779,212) (492,970) (39,352) (76,555)
Annual contract maintenance charge
(note 2) ............................ (18) (12) - -
Contingent deferred sales charges
(note 2) ............................ - - - -
Adjustments to maintain reserves....... 17 618 (33) (1,171)
------------ ------------- ------------- -------------
Net equity transactions............ 2,306,462 1,366,112 (99,108) (103,079)
NET CHANGE IN CONTRACT OWNERS' EQUITY.... 2,803,475 1,908,150 (107,198) 48,886
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD ................................ 13,016,518 9,497,067 1,264,801 1,265,240
------------ ------------- ------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 15,819,993 11,405,217 1,157,603 1,314,126
============ ============= ============= =============
</TABLE>
(Continued)
17
<PAGE> 18
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
FidContr FidEqinc
---------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. $ - - 2,129,384 2,029,920
Variable account fee (notes 2 and 5)... (2,104,682) (1,790,256) (1,022,603) (1,277,920)
------------ ------------ ------------ ------------
Net investment activity.............. (2,104,682) (1,790,256) 1,106,781 752,000
Proceeds from mutual fund shares sold.. 15,117,296 15,787,591 48,294,763 26,140,836
Cost of mutual fund shares sold........ (8,119,231) (8,081,387) (30,803,912) (14,855,878)
------------ ------------ ------------ ------------
Realized gain (loss) on investments.. 6,998,065 7,706,204 17,490,851 11,284,958
Change in unrealized gain (loss) on
investments.......................... (26,132,146) 34,124,840 (34,607,444) 21,255,323
------------ ------------ ------------ ------------
Net gain (loss) on investments....... (19,134,081) 41,831,044 (17,116,593) 32,540,281
------------ ------------ ------------ ------------
Reinvested capital gains............... 12,410,314 3,545,200 6,569,925 4,181,955
------------ ------------ ------------ ------------
Net increase (decrease) in contract
owners' equity resulting from
operations..................... (8,828,449) 43,585,988 (9,439,887) 37,474,236
------------ ------------ ------------ ------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 39,684,391 39,875,316 14,785,862 20,543,230
Transfers between funds ............... (26,005,365) (7,036,340) (50,521,695) (30,247,319)
Redemptions............................ (16,223,274) (10,899,654) (9,393,412) (9,956,903)
Annual contract maintenance charge
(note 2)............................. (262) (158) (106) (73)
Contingent deferred sales charges
(note 2)............................. - - (245) -
Adjustments to maintain reserves....... 951 1,317 233 (142)
------------ ------------ ------------ ------------
Net equity transactions............ (2,543,559) 21,940,481 (45,129,363) (19,661,207)
NET CHANGE IN CONTRACT OWNERS' EQUITY.... (11,372,008) 65,526,469 (54,569,250) 17,813,029
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD................................. 510,200,066 380,246,330 305,552,432 312,084,930
------------ ------------ ------------ ------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... $ 498,828,058 445,772,799 250,983,182 329,897,959
============ ============ ============ ============
</TABLE>
<TABLE>
<CAPTION>
FidGrinc FidMgln
---------------------------- -----------------------------
2000 1999 2000 1999
------------ ------------- ------------- -------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .................. 84,073 97,535 210,635 617,722
Variable account fee (notes 2 and 5)... (41,614) (72,960) (1,569,231) (1,415,823)
------------ ------------- ------------- -------------
Net investment activity.............. 42,459 24,575 (1,358,596) (798,101)
Proceeds from mutual fund shares sold.. 5,892,402 1,783,079 17,252,755 3,951,612
Cost of mutual fund shares sold........ (4,901,535) (1,367,568) (8,703,658) (2,301,447)
------------ ------------- ------------- -------------
Realized gain (loss) on investments.. 990,867 415,511 8,549,097 1,650,165
Change in unrealized gain (loss) on
investments.......................... (1,080,745) 1,105,229 (14,670,132) 22,646,541
------------ ------------- ------------- -------------
Net gain (loss) on investments....... (89,878) 1,520,740 (6,121,035) 24,296,706
------------ ------------- ------------- -------------
Reinvested capital gains............... - - 8,515,671 19,310,530
------------ ------------- ------------- -------------
Net increase (decrease) in contract
owners' equity resulting from
operations..................... (47,419) 1,545,315 1,036,040 42,809,135
------------ ------------- ------------- -------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners...................... 2,234,919 4,374,477 27,259,241 27,205,499
Transfers between funds ............... (5,205,074) (525,048) (20,242,963) 1,836,485
Redemptions............................ (1,187,967) (966,007) (12,371,096) (8,873,254)
Annual contract maintenance charge
(note 2)............................. - - (175) (88)
Contingent deferred sales charges
(note 2)............................. - - (150) 5
Adjustments to maintain reserves....... 20 71 1,449 1,314
------------ ------------- ------------- -------------
Net equity transactions............ (4,158,102) 2,883,493 (5,353,694) 20,169,961
NET CHANGE IN CONTRACT OWNERS' EQUITY.... (4,205,521) 4,428,808 (4,317,654) 62,979,096
CONTRACT OWNERS' EQUITY BEGINNING OF
PERIOD................................. 25,168,895 21,339,448 419,936,070 311,429,060
------------ ------------- ------------- -------------
CONTRACT OWNERS' EQUITY END OF PERIOD.... 20,963,374 25,768,256 415,618,416 374,408,156
============ ============= ============= =============
</TABLE>
18
<PAGE> 19
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS,CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
FidVIPAM FidVIPEI FidVIPGr FidVIPHI
---------------- ------------------ ---------------- ---------------
2000 1999 2000 1999 2000 1999 2000 1999
-------- ------ -------- ------- ------- ------ ------ -------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ $ 1,929 1,649 3,919 3,267 416 392 2,188 4,036
Variable account fee (notes 2 and 5) ............ (292) (251) (1,081) (1,070) (1,872) (1,178) (154) (197)
-------- ------ -------- ------- ------- ------ ------ -------
Net investment activity ....................... 1,637 1,398 2,838 2,197 (1,456) (786) 2,034 3,839
Proceeds from mutual fund shares sold ........... 2,646 22 2,780 27,560 1,668 11,334 141 17,619
Cost of mutual fund shares sold ................. (2,037) (18) (2,327) (19,470) (749) (5,511) (160) (18,699)
-------- ------ -------- ------- ------- ------ ------ -------
Realized gain (loss) on investments ........... 609 4 453 8,090 919 5,823 (19) (1,080)
Change in unrealized gain (loss) on investments . (7,541) (972) (25,254) 9,323 (22,448) 2,843 (3,794) 439
-------- ------ -------- ------- ------- ------ ------ -------
Net gain (loss) on investments ................ (6,932) (968) (24,801) 17,413 (21,529) 8,666 (3,813) (641)
-------- ------ -------- ------- ------- ------ ------ -------
Reinvested capital gains ........................ 4,545 2,089 14,766 7,222 41,372 24,632 -- 151
-------- ------ -------- ------- ------- ------ ------ -------
Net increase (decrease) in contract owners'
equity resulting from operations .......... (750) 2,519 (7,197) 26,832 18,387 32,512 (1,779) 3,349
-------- ------ -------- ------- ------- ------ ------ -------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 3,047 3,553 11,015 14,619 29,218 20,392 1,881 2,668
Transfers between funds ......................... (2,377) 2,273 (518) (19,925) 9,958 15,223 -- (17,607)
Redemptions ..................................... -- -- (1,925) (29) (971) (2,295) -- --
Annual contract maintenance charge (note 2) ..... -- -- -- -- -- -- -- --
Contingent deferred sales charges (note 2) ...... -- -- -- -- -- -- -- --
Adjustments to maintain reserves ................ 2 2 (8) 75 -- 2 -- (1)
-------- ------ -------- ------- ------- ------ ------ -------
Net equity transactions ..................... 672 5,828 8,564 (5,260) 38,205 33,322 1,881 (14,940)
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. (78) 8,347 1,367 21,572 56,592 65,834 102 (11,591)
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 63,083 49,356 234,904 216,494 367,050 219,907 32,797 42,986
-------- ------ -------- ------- ------- ------ ------ -------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. $ 63,005 57,703 236,271 238,066 423,642 285,741 32,899 31,395
======== ====== ======== ======= ======= ======= ====== =======
(Continued)
</TABLE>
19
<PAGE> 20
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
FidVIPOv GroFdAm
--------------------- ------------------------
2000 1999 2000 1999
--------- ------- --------- ---------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ $ 2,766 2,118 -- --
Variable account fee (notes 2 and 5) ............ (930) (656) (198,017) (93,918)
--------- ------- --------- ---------
Net investment activity ....................... 1,836 1,462 (198,017) (93,918)
Proceeds from mutual fund shares sold ........... 818 6,480 618,413 1,068,115
Cost of mutual fund shares sold ................. (602) (5,744) (283,806) (713,009)
--------- ------- --------- ---------
Realized gain (loss) on investments ........... 216 736 334,607 355,106
Change in unrealized gain (loss) on investments . (30,271) 4,496 6,084,434 3,423,974
--------- ------- --------- ---------
Net gain (loss) on investments ................ (30,055) 5,232 6,419,041 3,779,080
--------- ------- --------- ---------
Reinvested capital gains ........................ 17,416 3,416 -- --
--------- ------- --------- ---------
Net increase (decrease) in contract owners'
equity resulting from operations .......... (10,803) 10,110 6,221,024 3,685,162
--------- ------- --------- ---------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 5,160 4,838 4,643,770 1,572,828
Transfers between funds ......................... 20,000 (6,027) 10,247,975 391,953
Redemptions ..................................... -- -- (1,340,015) (646,250)
Annual contract maintenance charge (note 2) ..... -- -- (21) (8)
Contingent deferred sales charges (note 2) ...... -- -- -- --
Adjustments to maintain reserves ................ -- 1 293 1,409
--------- ------- ---------- ---------
Net equity transactions ..................... 25,160 (1,188) 13,552,002 1,319,932
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. 14,357 8,922 19,773,026 5,005,094
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 193,860 136,291 34,997,678 19,249,841
--------- ------- ---------- ----------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. $ 208,217 145,213 54,770,704 24,254,935
========= ======= ========== ==========
</TABLE>
<TABLE>
<CAPTION>
IncFdAm InvDynam
------------------------- -------------------------
2000 1999 2000 1999
---------- ---------- ----------- --------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ 432,896 467,292 -- --
Variable account fee (notes 2 and 5) ............ (74,853) (90,068) (241,289) (4,485)
---------- ---------- ----------- --------
Net investment activity ....................... 358,043 377,224 (241,289) (4,485)
Proceeds from mutual fund shares sold ........... 3,487,537 1,803,112 19,966,338 60,739
Cost of mutual fund shares sold ................. (3,642,659) (1,476,748) (14,748,782) (53,965)
---------- ---------- ----------- --------
Realized gain (loss) on investments ........... (155,122) 326,364 5,217,556 6,774
Change in unrealized gain (loss) on investments . (470,110) 52,040 467,743 335,288
---------- ---------- ----------- --------
Net gain (loss) on investments ................ (625,232) 378,404 5,685,299 342,062
---------- ---------- ----------- --------
Reinvested capital gains ........................ -- -- -- --
---------- ---------- ----------- --------
Net increase (decrease) in contract owners'
equity resulting from operations .......... (267,189) 755,628 5,444,010 337,577
---------- ---------- ----------- --------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 892,475 1,705,557 34,507,701 871,873
Transfers between funds ......................... (3,248,775) (1,523,067) 72,686,836 1,914,334
Redemptions ..................................... (661,342) (617,316) (6,249,972) (9,489)
Annual contract maintenance charge (note 2) ..... (4) (9) (27) --
Contingent deferred sales charges (note 2) ...... -- -- -- --
Adjustments to maintain reserves ................ (71) 2,561 (35,240) 12
---------- ---------- ----------- --------
Net equity transactions ..................... (3,017,717) (432,274) 100,909,298 2,776,730
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. (3,284,906) 323,354 106,353,308 3,114,307
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 19,545,554 20,515,616 43,742,483 57,030
---------- ---------- ----------- --------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. 16,260,648 20,838,970 150,095,791 3,171,337
========== ========== =========== =========
</TABLE>
20
<PAGE> 21
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
InvEqInc InvTotRet
---------------------------- ---------------------------
2000 1999 2000 1999
----------- ------------ ------------ ----------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ $ 201,559 225,760 16,557 10,886
Variable account fee (notes 2 and 5) ............ (135,253) (127,353) (4,015) (2,672)
----------- ----------- ----------- ----------
Net investment activity ....................... 66,306 98,407 12,542 8,214
Proceeds from mutual fund shares sold ........... 2,144,335 1,872,495 522,724 119,211
Cost of mutual fund shares sold ................. (1,739,213) (1,305,341) (588,544) (117,723)
----------- ----------- ----------- ----------
Realized gain (loss) on investments ........... 405,122 567,154 (65,820) 1,488
Change in unrealized gain (loss) on investments . 80,712 2,315,023 (18,905) 54,408
----------- ----------- ----------- ----------
Net gain (loss) on investments ................ 485,834 2,882,177 (84,725) 55,896
----------- ----------- ----------- ----------
Reinvested capital gains ........................ -- -- -- --
----------- ----------- ----------- ----------
Net increase (decrease) in contract owners'
equity resulting from operations .......... 552,140 2,980,584 (72,183) 64,110
----------- ----------- ----------- ----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 2,154,698 2,478,095 296,196 323,019
Transfers between funds ......................... (1,513,212) (2,111,294) (389,558) 778,988
Redemptions ..................................... (821,337) (947,039) (25,254) (18,373)
Annual contract maintenance charge (note 2) ..... (69) (28) (1) --
Contingent deferred sales charges (note 2) ...... -- -- -- --
Adjustments to maintain reserves ................ 42 1,320 (7) 2
----------- ----------- ----------- ----------
Net equity transactions ..................... (179,878) (578,946) (118,624) 1,083,636
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. 372,262 2,401,638 (190,807) 1,147,746
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 31,183,990 28,222,368 1,394,842 131,745
----------- ----------- ----------- ----------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. $ 31,556,252 30,624,006 1,204,035 1,279,491
=========== =========== =========== ==========
</TABLE>
<TABLE>
<CAPTION>
JanFund JanWrldwde
--------------------------- ----------------------------
2000 1999 2000 1999
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ -- -- -- --
Variable account fee (notes 2 and 5) ............ (1,720,915) (768,324) (11,260) (5,849)
----------- ------------ ---------- ----------
Net investment activity ....................... (1,720,915) (768,324) (11,260) (5,849)
Proceeds from mutual fund shares sold ........... 30,758,867 23,849,178 199,757 107,236
Cost of mutual fund shares sold ................. (18,193,420) (15,513,339) (115,808) (100,193)
----------- ------------ ---------- ----------
Realized gain (loss) on investments ........... 12,565,447 8,335,839 83,949 7,043
Change in unrealized gain (loss) on investments . (2,209,918) 21,087,847 (41,799) 144,323
----------- ------------ ---------- ----------
Net gain (loss) on investments ................ 10,355,529 29,423,686 42,150 151,366
----------- ------------ ---------- ----------
Reinvested capital gains ........................ -- -- -- --
----------- ------------ ---------- ----------
Net increase (decrease) in contract owners'
equity resulting from operations .......... 8,634,614 28,655,362 30,890 145,517
----------- ------------ ---------- ----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 54,819,124 26,554,369 225,675 145,261
Transfers between funds ......................... 54,350,789 34,888,155 164,375 (53,163)
Redemptions ..................................... (23,953,898) (5,262,165) (32,422) (3,481)
Annual contract maintenance charge (note 2) ..... (718) (192) -- --
Contingent deferred sales charges (note 2) ...... -- -- -- --
Adjustments to maintain reserves ................ (769) (98,581) 4 23
----------- ------------ ---------- ----------
Net equity transactions ..................... 85,214,528 56,081,586 357,632 88,640
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. 93,849,142 84,736,948 388,522 234,157
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 334,398,685 131,449,444 2,122,782 1,155,624
----------- ------------ ---------- ----------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. 428,247,827 216,186,392 2,511,304 1,389,781
=========== ============ ========== ==========
(Continued)
</TABLE>
21
<PAGE> 22
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
MASFIP MFSGrStk
-------------------------- --------------------------
2000 1999 2000 1999
----------- ------------ ------------ -----------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ $ 85,671 96,342 -- --
Variable account fee (notes 2 and 5) ............ (24,242) (28,880) (46,809) (41,208)
---------- ---------- ---------- ----------
Net investment activity ....................... 61,429 67,462 (46,809) (41,208)
Proceeds from mutual fund shares sold ........... 4,707,545 2,709,400 927,131 243,006
Cost of mutual fund shares sold ................. (5,064,707) (2,817,042) (474,705) (166,410)
---------- ---------- ---------- ----------
Realized gain (loss) on investments ........... (357,162) (107,642) 452,426 76,596
Change in unrealized gain (loss) on investments . 438,257 (73,927) 63,351 1,199,802
---------- ---------- ---------- ----------
Net gain (loss) on investments ................ 81,095 (181,569) 515,777 1,276,398
---------- ---------- ---------- ----------
Reinvested capital gains ........................ -- -- -- --
---------- ---------- ---------- ----------
Net increase (decrease) in contract owners'
equity resulting from operations .......... 142,524 (114,107) 468,968 1,235,190
---------- ---------- ---------- ----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 304,818 983,611 334,191 227,504
Transfers between funds ......................... (1,146,151) 184,934 (267,372) 56,179
Redemptions ..................................... (226,339) (223,113) (454,369) (228,648)
Annual contract maintenance charge (note 2) ..... (11) (4) (285) (276)
Contingent deferred sales charges (note 2) ...... -- -- (31) (21)
Adjustments to maintain reserves ................ (1) (363) (1,138) 68
---------- ---------- ---------- ----------
Net equity transactions ..................... (1,067,684) 945,065 (389,004) 54,806
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. (925,160) 830,958 79,964 1,289,996
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 6,408,543 6,046,920 14,684,464 10,458,588
---------- ---------- ---------- ----------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. $ 5,483,383 6,877,878 14,764,428 11,748,584
========== ========== ========== ==========
</TABLE>
<TABLE>
<CAPTION>
MFSGrOpp MFSHiInc
-------------------------- ---------------------------
2000 1999 2000 1999
----------- ----------- ----------- ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ -- -- 233,503 235,117
Variable account fee (notes 2 and 5) ............ (122,356) (123,876) (12,683) (17,882)
---------- ---------- ---------- ----------
Net investment activity ....................... (122,356) (123,876) 220,820 217,235
Proceeds from mutual fund shares sold ........... 2,597,562 2,888,560 7,662,313 6,353,853
Cost of mutual fund shares sold ................. (1,560,880) (2,091,042) (7,998,066) (6,593,992)
---------- ---------- ---------- ----------
Realized gain (loss) on investments ........... 1,036,682 797,518 (335,753) (240,139)
Change in unrealized gain (loss) on investments . (261,108) 1,211,575 119,200 269,548
---------- ---------- ---------- ----------
Net gain (loss) on investments ................ 775,574 2,009,093 (216,553) 29,409
---------- ---------- ---------- ----------
Reinvested capital gains ........................ 1,941,051 898,834 -- --
---------- ---------- ---------- ----------
Net increase (decrease) in contract owners'
equity resulting from operations .......... 2,594,269 2,784,051 4,267 246,644
---------- ---------- ---------- ----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 1,637,777 1,081,252 297,141 389,678
Transfers between funds ......................... 508,853 (1,428,535) (147,844) (577,936)
Redemptions ..................................... (1,439,416) (1,397,006) (136,671) (263,752)
Annual contract maintenance charge (note 2) ..... (3) (3) -- --
Contingent deferred sales charges (note 2) ...... -- -- -- --
Adjustments to maintain reserves ................ 151 165 135 2,083
---------- ---------- ---------- ----------
Net equity transactions ..................... 707,362 (1,744,127) 12,761 (449,927)
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. 3,301,631 1,039,924 17,028 (203,283)
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 43,908,037 35,666,943 4,768,564 5,341,007
---------- ---------- ---------- ----------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. 47,209,668 36,706,867 4,785,592 5,137,724
========== ========== ========== ==========
</TABLE>
22
<PAGE> 23
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
MSIEqGroB NAATAggr NAATCons
----------------------- ----------------------- -----------------------
2000 1999 2000 1999 2000 1999
----------- -------- ---------- ---------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .......................... $ -- -- 76,239 2,253 21,431 13,096
Variable account fee (notes 2 and 5) .......... (7,994) (1,402) (15,209) (10,195) (3,136) (3,642)
----------- -------- ---------- ---------- ---------- ----------
Net investment activity ..................... (7,994) (1,402) 61,030 (7,942) 18,295 9,454
Proceeds from mutual fund shares sold ......... 973,084 98,095 278,424 847,559 547,747 401,197
Cost of mutual fund shares sold ............... (832,479) (88,253) (232,528) (831,359) (558,872) (386,900)
----------- -------- ---------- ---------- ---------- ----------
Realized gain (loss) on investments ......... 140,605 9,842 45,896 16,200 (11,125) 14,297
Change in unrealized gain (loss) on investments 12,702 53,704 (185,606) 134,132 (39,204) (69)
----------- -------- ---------- ---------- ---------- ----------
Net gain (loss) on investments .............. 153,307 63,546 (139,710) 150,332 (50,329) 14,228
----------- -------- ---------- ---------- ---------- ----------
Reinvested capital gains ...................... -- -- 230,183 126,723 50,288 10,727
----------- -------- ---------- ---------- ---------- ----------
Net increase (decrease) in contract owners'
equity resulting from operations ........ 145,313 62,144 151,503 269,113 18,254 34,409
----------- -------- ---------- ---------- ---------- ----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................. 1,264,613 141,370 1,131,173 1,117,452 127,659 327,894
Transfers between funds ....................... 1,393,149 274,677 157,424 (806,922) (473,367) 661,013
Redemptions ................................... (355,548) (11,595) (257,755) (109,502) (72,961) (69,669)
Annual contract maintenance charge (note 2) ... (1) -- (71) -- (17) --
Contingent deferred sales charges (note 2) .... -- -- -- -- -- --
Adjustments to maintain reserves .............. 5 (55) 2 503 3 (38)
----------- -------- ---------- ---------- ---------- ----------
Net equity transactions ................... 2,302,218 404,397 1,030,773 201,531 (418,683) 919,200
NET CHANGE IN CONTRACT OWNERS' EQUITY ........... 2,447,531 466,541 1,182,276 470,644 (400,429) 953,609
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ..... 2,134,051 97,901 4,545,190 3,069,335 1,366,259 594,487
----------- -------- ---------- ---------- ---------- ----------
CONTRACT OWNERS' EQUITY END OF PERIOD ........... $ 4,581,582 564,442 5,727,466 3,539,979 965,830 1,548,096
=========== ======== ========== ========== ========== ==========
NAATMod
------------------------
2000 1999
---------- ----------
<S> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .......................... 61,663 12,671
Variable account fee (notes 2 and 5) .......... (12,719) (7,750)
---------- ----------
Net investment activity ..................... 48,944 4,921
Proceeds from mutual fund shares sold ......... 166,262 588,166
Cost of mutual fund shares sold ............... (133,138) (552,255)
---------- ----------
Realized gain (loss) on investments ......... 33,124 35,911
Change in unrealized gain (loss) on investments (101,791) 78,495
---------- ----------
Net gain (loss) on investments .............. (68,667) 114,406
---------- ----------
Reinvested capital gains ...................... 128,155 38,471
---------- ----------
Net increase (decrease) in contract owners'
equity resulting from operations ........ 108,432 157,798
---------- ----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................. 794,593 711,288
Transfers between funds ....................... 14,964 275,978
Redemptions ................................... (107,961) (161,313)
Annual contract maintenance charge (note 2) ... (111) (1)
Contingent deferred sales charges (note 2) .... -- --
Adjustments to maintain reserves .............. 8 212
---------- ----------
Net equity transactions ................... 701,493 826,164
NET CHANGE IN CONTRACT OWNERS' EQUITY ........... 809,925 983,962
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ..... 3,597,917 1,770,263
---------- ----------
CONTRACT OWNERS' EQUITY END OF PERIOD ........... 4,407,842 2,754,225
========== ==========
</TABLE>
(Continued)
23
<PAGE> 24
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
NAATModAgg NAATModCon NWBdFd
------------------------- ------------------------ --------------------
2000 1999 2000 1999 2000 1999
----------- ---------- ---------- ---------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .......................... $ 64,300 7,907 23,269 9,792 8,563 8,024
Variable account fee (notes 2 and 5) .......... (12,804) (6,066) (4,215) (3,124) (966) (1,131)
----------- ---------- ---------- ---------- -------- --------
Net investment activity ..................... 51,496 1,841 19,054 6,668 7,597 6,893
Proceeds from mutual fund shares sold ......... 265,385 552,582 201,846 244,138 5,860 21,831
Cost of mutual fund shares sold ............... (220,758) (535,459) (182,513) (234,322) (6,043) (20,853)
----------- ---------- ---------- ---------- -------- --------
Realized gain (loss) on investments ......... 44,627 17,123 19,333 9,816 (183) 978
Change in unrealized gain (loss) on investments (107,095) 82,392 (55,275) 16,269 (1,510) (15,763)
----------- ---------- ---------- ---------- -------- --------
Net gain (loss) on investments .............. (62,468) 99,515 (35,942) 26,085 (1,693) (14,785)
----------- ---------- ---------- ---------- -------- --------
Reinvested capital gains ...................... 138,662 53,998 52,771 14,911 -- --
----------- ---------- ---------- ---------- -------- --------
Net increase (decrease) in contract owners'
equity resulting from operations ........ 127,690 155,354 35,883 47,664 5,904 (7,892)
----------- ---------- ---------- ---------- -------- --------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................. 1,443,420 1,190,903 291,191 237,481 6,619 16,717
Transfers between funds ....................... 17,901 (187,482) (124,844) 33,990 (3,020) (8,404)
Redemptions ................................... (99,113) (313,178) (45,885) (27,715) (2,033) (3,167)
Annual contract maintenance charge (note 2) ... (137) (2) (29) -- -- --
Contingent deferred sales charges (note 2) .... -- -- -- -- -- --
Adjustments to maintain reserves .............. (11) 281 1 171 (104) 82
----------- ---------- ---------- ---------- -------- --------
Net equity transactions ................... 1,362,060 690,522 120,434 243,927 1,462 5,228
NET CHANGE IN CONTRACT OWNERS' EQUITY ........... 1,489,750 845,876 156,317 291,591 7,366 (2,664)
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ..... 3,566,549 1,576,167 1,410,374 875,474 260,982 274,143
----------- ---------- ---------- ---------- -------- --------
CONTRACT OWNERS' EQUITY END OF PERIOD ........... $ 5,056,299 2,422,043 1,566,691 1,167,065 268,348 271,479
=========== ========== ========== ========== ======== ========
NWFund
----------------------------
2000 1999
------------ ------------
<S> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .......................... 625,032 706,718
Variable account fee (notes 2 and 5) .......... (480,596) (647,115)
------------ ------------
Net investment activity ..................... 144,436 59,603
Proceeds from mutual fund shares sold ......... 30,762,889 18,408,951
Cost of mutual fund shares sold ............... (23,901,098) (8,806,154)
------------ ------------
Realized gain (loss) on investments ......... 6,861,791 9,602,797
Change in unrealized gain (loss) on investments (3,536,626) 3,624,109
------------ ------------
Net gain (loss) on investments .............. 3,325,165 13,226,906
------------ ------------
Reinvested capital gains ...................... -- --
------------ ------------
Net increase (decrease) in contract owners'
equity resulting from operations ........ 3,469,601 13,286,509
------------ ------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................. 16,205,499 31,565,254
Transfers between funds ....................... (36,141,142) (25,370,461)
Redemptions ................................... (5,749,600) (7,035,509)
Annual contract maintenance charge (note 2) ... (674) (602)
Contingent deferred sales charges (note 2) .... (955) (209)
Adjustments to maintain reserves .............. (1,261) 19,282
------------ ------------
Net equity transactions ................... (25,688,133) (822,245)
NET CHANGE IN CONTRACT OWNERS' EQUITY ........... (22,218,532) 12,464,264
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ..... 178,128,600 188,973,280
------------ ------------
CONTRACT OWNERS' EQUITY END OF PERIOD ........... 155,910,068 201,437,544
============ ============
</TABLE>
24
<PAGE> 25
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
NWGroFd NWMyMkt
--------------------------- ----------------------------
2000 1999 2000 1999
------------ ----------- ------------ ------------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .......................... $ -- -- 2,869,727 1,817,088
Variable account fee (notes 2 and 5) .......... (44,932) (54,811) (270,593) (278,141)
------------ ----------- ------------ ------------
Net investment activity ..................... (44,932) (54,811) 2,599,134 1,538,947
Proceeds from mutual fund shares sold ......... 2,100,091 1,365,040 434,630,350 95,559,053
Cost of mutual fund shares sold ............... (1,638,442) (884,439) (434,630,350) (95,559,053)
------------ ----------- ------------ ------------
Realized gain (loss) on investments ......... 461,649 480,601 -- --
Change in unrealized gain (loss) on investments (1,190,922) 893,919 -- --
------------ ----------- ------------ ------------
Net gain (loss) on investments .............. (729,273) 1,374,520 -- --
------------ ----------- ------------ ------------
Reinvested capital gains ...................... -- -- -- --
------------ ----------- ------------ ------------
Net increase (decrease) in contract owners'
equity resulting from operations ........ (774,205) 1,319,709 2,599,134 1,538,947
------------ ----------- ------------ ------------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................. 757,523 1,088,082 11,383,258 8,423,927
Transfers between funds ....................... (1,904,195) (534,762) (22,807,112) 33,438,915
Redemptions ................................... (337,011) (626,049) (15,881,818) (8,022,889)
Annual contract maintenance charge (note 2) ... (17) (20) (60) (6)
Contingent deferred sales charges (note 2) .... -- -- -- --
Adjustments to maintain reserves .............. 15 (51) (124,248) 136,089
------------ ----------- ------------ ------------
Net equity transactions ................... (1,483,685) (72,800) (27,429,980) 33,976,036
NET CHANGE IN CONTRACT OWNERS' EQUITY ........... (2,257,890) 1,246,909 (24,830,846) 35,514,983
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ..... 15,285,672 13,756,598 119,075,473 70,669,459
------------ ----------- ------------ ------------
CONTRACT OWNERS' EQUITY END OF PERIOD ........... $ 13,027,782 15,003,507 94,244,627 106,184,442
============ =========== ============ ============
NWIndxFd NSATGvtBd
------------------------- ------------------
2000 1999 2000 1999
----------- ---------- ------- -------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .......................... 41,101 16,111 648 535
Variable account fee (notes 2 and 5) .......... (35,486) (11,712) (100) (93)
----------- ---------- ------- -------
Net investment activity ..................... 5,615 4,399 548 442
Proceeds from mutual fund shares sold ......... 3,451,406 946,070 100 --
Cost of mutual fund shares sold ............... (3,274,957) (882,099) (99) --
----------- ---------- ------- -------
Realized gain (loss) on investments ......... 176,449 63,971 1 --
Change in unrealized gain (loss) on investments (251,525) 280,774 195 (968)
----------- ---------- ------- -------
Net gain (loss) on investments .............. (75,076) 344,745 196 (968)
----------- ---------- ------- -------
Reinvested capital gains ...................... -- -- -- --
----------- ---------- ------- -------
Net increase (decrease) in contract owners'
equity resulting from operations ........ (69,461) 349,144 744 (526)
----------- ---------- ------- -------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................. 3,766,395 1,625,045 738 1,288
Transfers between funds ....................... (259,662) 2,696,630 -- --
Redemptions ................................... (1,067,570) (77,846) -- --
Annual contract maintenance charge (note 2) ... (2) -- (12) (12)
Contingent deferred sales charges (note 2) .... -- -- -- --
Adjustments to maintain reserves .............. 29 8 1 (2)
----------- ---------- ------- -------
Net equity transactions ................... 2,439,190 4,243,837 727 1,274
NET CHANGE IN CONTRACT OWNERS' EQUITY ........... 2,369,729 4,592,981 1,471 748
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ..... 11,420,604 602,634 20,615 19,439
----------- ---------- ------- -------
CONTRACT OWNERS' EQUITY END OF PERIOD ........... 13,790,333 5,195,615 22,086 20,187
=========== ========== ======= =======
</TABLE>
(Continued)
25
<PAGE> 26
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
NSATInc NSATMyMkt NSATSmCo
----------------- ------------------- -----------------------
2000 1999 2000 1999 2000 1999
--------- ---- -------- -------- ---------- ----------
<S> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .......................... $ 1,255 -- 3,223 1,981 2,100 --
Variable account fee (notes 2 and 5) .......... (243) -- (548) (412) (24,329) (11,369)
--------- ---- -------- -------- ---------- ----------
Net investment activity ..................... 1,012 -- 2,675 1,569 (22,229) (11,369)
Proceeds from mutual fund shares sold ......... 645,059 -- 40,485 253 840,360 2,538,112
Cost of mutual fund shares sold ............... (647,324) -- (40,485) (253) (574,054) (2,353,210)
--------- ---- -------- -------- ---------- ----------
Realized gain (loss) on investments ......... (2,265) -- -- -- 266,306 184,902
Change in unrealized gain (loss) on investments 2,124 -- -- -- 80,467 54,153
--------- ---- -------- -------- ---------- ----------
Net gain (loss) on investments .............. (141) -- -- -- 346,773 239,055
--------- ---- -------- -------- ---------- ----------
Reinvested capital gains ...................... -- -- -- -- -- --
--------- ---- -------- -------- ---------- ----------
Net increase (decrease) in contract owners'
equity resulting from operations ........ 871 -- 2,675 1,569 324,544 227,686
--------- ---- -------- -------- ---------- ----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................. 13,781 -- 4,533 4,631 1,117,705 724,852
Transfers between funds ....................... (77,716) -- (40,000) 33,546 1,628,269 (745,310)
Redemptions ................................... (115) -- -- -- (209,026) (77,181)
Annual contract maintenance charge (note 2) ... -- -- -- -- (8) (5)
Contingent deferred sales charges (note 2) .... -- -- -- -- -- --
Adjustments to maintain reserves .............. (1) -- (3) 3 (142) 5,361
--------- ---- -------- -------- ---------- ----------
Net equity transactions ................... (64,051) -- (35,470) 38,180 2,536,798 (92,283)
NET CHANGE IN CONTRACT OWNERS' EQUITY ........... (63,180) -- (32,795) 39,749 2,861,342 135,403
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ..... 111,788 -- 122,009 76,159 5,388,455 3,538,333
--------- ---- -------- -------- ---------- ----------
CONTRACT OWNERS' EQUITY END OF PERIOD ........... $ 48,608 -- 89,214 115,908 8,249,797 3,673,736
========= ==== ======== ======== ========== ==========
NSATTotRe
--------------------
2000 1999
-------- --------
<S> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends .......................... 460 608
Variable account fee (notes 2 and 5) .......... (780) (728)
-------- --------
Net investment activity ..................... (320) (120)
Proceeds from mutual fund shares sold ......... 1,014 7,832
Cost of mutual fund shares sold ............... (628) (4,431)
-------- --------
Realized gain (loss) on investments ......... 386 3,401
Change in unrealized gain (loss) on investments 4,826 11,949
-------- --------
Net gain (loss) on investments .............. 5,212 15,350
-------- --------
Reinvested capital gains ...................... -- 70
-------- --------
Net increase (decrease) in contract owners'
equity resulting from operations ........ 4,892 15,300
-------- --------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................. 5,074 7,362
Transfers between funds ....................... -- (5,136)
Redemptions ................................... (748) --
Annual contract maintenance charge (note 2) ... (11) (11)
Contingent deferred sales charges (note 2) .... -- --
Adjustments to maintain reserves .............. 2 1
-------- --------
Net equity transactions ................... 4,317 2,216
NET CHANGE IN CONTRACT OWNERS' EQUITY ........... 9,209 17,516
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ..... 164,556 147,600
-------- --------
CONTRACT OWNERS' EQUITY END OF PERIOD ........... 173,765 165,116
======== ========
</TABLE>
26
<PAGE> 27
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
NBAMTGro NBAMTLMat NBAMTPart
------------------- ------------------ ------------------
2000 1999 2000 1999 2000 1999
-------- ------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ $ -- -- 883 639 552 757
Variable account fee (notes 2 and 5) ............ (364) (172) (63) (55) (334) (308)
-------- ------- ------- ------- ------- -------
Net investment activity ....................... (364) (172) 820 584 218 449
Proceeds from mutual fund shares sold ........... 225 -- -- -- 4,802 11,024
Cost of mutual fund shares sold ................. (140) -- -- -- (4,393) (6,721)
-------- ------- ------- ------- ------- -------
Realized gain (loss) on investments ........... 85 -- -- -- 409 4,303
Change in unrealized gain (loss) on investments . 3,998 (636) (625) (602) (13,046) 1,632
-------- ------- ------- ------- ------- -------
Net gain (loss) on investments ................ 4,083 (636) (625) (602) (12,637) 5,935
-------- ------- ------- ------- ------- -------
Reinvested capital gains ........................ 6,006 1,957 -- -- 11,732 1,317
-------- ------- ------- ------- ------- -------
Net increase (decrease) in contract owners'
equity resulting from operations .......... 9,725 1,149 195 (18) (687) 7,701
-------- ------- ------- ------- ------- -------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 7,786 4,856 539 1,238 4,979 11,033
Transfers between funds ......................... 814 -- -- -- (2,526) (6,328)
Redemptions ..................................... -- -- -- -- (2,023) (4,556)
Annual contract maintenance charge (note 2) ..... -- -- -- -- -- --
Contingent deferred sales charges (note 2) ...... -- -- -- -- -- --
Adjustments to maintain reserves ................ 1 1 (2) -- -- (18)
-------- ------- ------- ------- ------- -------
Net equity transactions ..................... 8,601 4,857 537 1,238 430 131
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. 18,326 6,006 732 1,220 (257) 7,832
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 65,983 35,004 12,999 11,132 73,041 63,666
-------- ------- ------- ------- ------- -------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. $ 84,309 41,010 13,731 12,352 72,784 71,498
======== ======= ======= ======= ======= =======
NBGuard
------------------------
2000 1999
---------- ----------
<S> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ 2,946 4,637
Variable account fee (notes 2 and 5) ............ (2,828) (4,392)
---------- ----------
Net investment activity ....................... 118 245
Proceeds from mutual fund shares sold ........... 1,901,182 644,947
Cost of mutual fund shares sold ................. (2,198,129) (629,853)
---------- ----------
Realized gain (loss) on investments ........... (296,947) 15,094
Change in unrealized gain (loss) on investments . 297,555 179,574
---------- ----------
Net gain (loss) on investments ................ 608 194,668
---------- ----------
Reinvested capital gains ........................ -- --
---------- ----------
Net increase (decrease) in contract owners'
equity resulting from operations .......... 726 194,913
---------- ----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 208,138 212,647
Transfers between funds ......................... (168,941) (339,909)
Redemptions ..................................... (62,465) (53,014)
Annual contract maintenance charge (note 2) ..... -- --
Contingent deferred sales charges (note 2) ...... -- --
Adjustments to maintain reserves ................ 8 10
---------- ----------
Net equity transactions ..................... (23,260) (180,266)
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. (22,534) 14,647
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 1,472,851 1,503,941
---------- ----------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. 1,450,317 1,518,588
========== ==========
</TABLE>
(Continued)
27
<PAGE> 28
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
NBManhFd NBPartTr OppGlob
--------------------- -------------------- -------------------------
2000 1999 2000 1999 2000 1999
--------- -------- -------- -------- ----------- ----------
<S> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ $ -- -- -- -- -- --
Variable account fee (notes 2 and 5) ............ (1,911) (1,171) (793) (378) (35,877) (3,058)
--------- -------- -------- -------- ----------- ----------
Net investment activity ....................... (1,911) (1,171) (793) (378) (35,877) (3,058)
Proceeds from mutual fund shares sold ........... 26,043 16,037 124,096 82,121 459,929 356,850
Cost of mutual fund shares sold ................. (19,062) (18,129) (141,791) (73,743) (294,912) (338,382)
--------- -------- -------- -------- ----------- ----------
Realized gain (loss) on investments ........... 6,981 (2,092) (17,695) 8,378 165,017 18,468
Change in unrealized gain (loss) on investments . 42,256 9,805 16,698 4,568 377,616 114,241
--------- -------- -------- -------- ----------- ----------
Net gain (loss) on investments ................ 49,237 7,713 (997) 12,946 542,633 132,709
--------- -------- -------- -------- ----------- ----------
Reinvested capital gains ........................ -- -- -- -- -- --
--------- -------- -------- -------- ----------- ----------
Net increase (decrease) in contract owners'
equity resulting from operations .......... 47,326 6,542 (1,790) 12,568 506,756 129,651
--------- -------- -------- -------- ----------- ----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 4,135 4,107 67,516 22,875 3,013,418 296,714
Transfers between funds ......................... 14,045 260 44,059 119,993 8,564,691 845,736
Redemptions ..................................... (24,722) (1,678) (4,260) (3,252) (497,795) (330)
Annual contract maintenance charge (note 2) ..... -- -- -- -- (4) --
Contingent deferred sales charges (note 2) ...... -- 4 -- -- -- --
Adjustments to maintain reserves ................ 5 1 (10) (15) (19) (38)
--------- -------- -------- -------- ----------- ----------
Net equity transactions ..................... (6,537) 2,694 107,305 139,601 11,080,291 1,142,082
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. 40,789 9,236 105,515 152,169 11,587,047 1,271,733
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 380,186 257,916 189,677 46,843 3,952,128 139,308
--------- -------- -------- -------- ----------- ----------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. $ 420,975 267,152 295,192 199,012 15,539,175 1,411,041
========= ======== ======== ======== =========== ==========
PrBalI
--------------------
2000 1999
-------- --------
<S> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ 10,042 3,162
Variable account fee (notes 2 and 5) ............ (1,968) (725)
-------- --------
Net investment activity ....................... 8,074 2,437
Proceeds from mutual fund shares sold ........... 431,213 13,133
Cost of mutual fund shares sold ................. (427,973) (12,432)
-------- --------
Realized gain (loss) on investments ........... 3,240 701
Change in unrealized gain (loss) on investments . (1,051) 10,230
-------- --------
Net gain (loss) on investments ................ 2,189 10,931
-------- --------
Reinvested capital gains ........................ -- --
-------- --------
Net increase (decrease) in contract owners'
equity resulting from operations .......... 10,263 13,368
-------- --------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 186,099 59,970
Transfers between funds ......................... 162,660 222,372
Redemptions ..................................... (76,230) (2,651)
Annual contract maintenance charge (note 2) ..... -- --
Contingent deferred sales charges (note 2) ...... -- --
Adjustments to maintain reserves ................ (3) (2)
-------- --------
Net equity transactions ..................... 272,526 279,689
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. 282,789 293,057
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 588,047 55,224
-------- --------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. 870,836 348,281
======== ========
</TABLE>
28
<PAGE> 29
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
PrIntlI PrLgCapGrI PrLgCapVlI
-------------------- ---------------------- ----------------------
2000 1999 2000 1999 2000 1999
--------- -------- ---------- -------- ---------- --------
<S> <C> <C> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ $ 2,802 895 -- -- 3,631 307
Variable account fee (notes 2 and 5) ............ (1,105) (311) (7,701) (1,382) (807) (212)
--------- -------- ---------- -------- ---------- --------
Net investment activity ....................... 1,697 584 (7,701) (1,382) 2,824 95
Proceeds from mutual fund shares sold ........... 473,979 91,299 403,907 66,106 1,057,377 66,823
Cost of mutual fund shares sold ................. (466,911) (89,061) (314,035) (57,897) (1,064,878) (62,336)
--------- -------- ---------- -------- ---------- --------
Realized gain (loss) on investments ........... 7,068 2,238 89,872 8,209 (7,501) 4,487
Change in unrealized gain (loss) on investments . (17,366) 2,060 (4,689) 50,996 11,099 5,963
--------- -------- ---------- -------- ---------- --------
Net gain (loss) on investments ................ (10,298) 4,298 85,183 59,205 3,598 10,450
--------- -------- ---------- -------- ---------- --------
Reinvested capital gains ........................ -- -- -- -- -- --
--------- -------- ---------- -------- ---------- --------
Net increase (decrease) in contract owners'
equity resulting from operations .......... (8,601) 4,882 77,482 57,823 6,422 10,545
--------- -------- ---------- -------- ---------- --------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 169,901 46,590 997,720 338,010 174,503 54,214
Transfers between funds ......................... 52,115 76,278 169,284 452,121 79,651 105,204
Redemptions ..................................... (9,468) (659) (93,943) (2,611) (3,827) (321)
Annual contract maintenance charge (note 2) ..... (3) -- -- -- -- --
Contingent deferred sales charges (note 2) ...... -- -- -- -- -- --
Adjustments to maintain reserves ................ (3) (5) (222) 735 28 (5)
--------- -------- ---------- -------- ---------- --------
Net equity transactions ..................... 212,542 122,204 1,072,839 788,255 250,355 159,092
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. 203,941 127,086 1,150,321 846,078 256,777 169,637
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 352,443 19,018 2,375,395 64,224 229,271 10,404
--------- -------- ---------- -------- ---------- --------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. $ 556,384 146,104 3,525,716 910,302 486,048 180,041
========= ======== ========== ======== ========== ========
PrSmCapI
----------------------
2000 1999
---------- --------
<S> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ -- 767
Variable account fee (notes 2 and 5) ............ (3,250) (997)
---------- --------
Net investment activity ....................... (3,250) (230)
Proceeds from mutual fund shares sold ........... 1,300,194 404,799
Cost of mutual fund shares sold ................. (1,049,988) (403,329)
---------- --------
Realized gain (loss) on investments ........... 250,206 1,470
Change in unrealized gain (loss) on investments . (211,719) 33,211
---------- --------
Net gain (loss) on investments ................ 38,487 34,681
---------- --------
Reinvested capital gains ........................ -- --
---------- --------
Net increase (decrease) in contract owners'
equity resulting from operations .......... 35,237 34,451
---------- --------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 579,741 193,477
Transfers between funds ......................... 356,740 194,192
Redemptions ..................................... (41,942) (144)
Annual contract maintenance charge (note 2) ..... -- --
Contingent deferred sales charges (note 2) ...... -- --
Adjustments to maintain reserves ................ (40) (417)
---------- --------
Net equity transactions ..................... 894,499 387,108
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. 929,736 421,559
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 1,227,633 40,253
---------- --------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. 2,157,369 461,812
========== ========
</TABLE>
(Continued)
29
<PAGE> 30
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
PutIntGro PutInvFd
----------------- ---------------------------
2000 1999 2000 1999
--------- ---- ------------ -----------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ $ -- -- -- --
Variable account fee (notes 2 and 5) ............ (85) -- (240,706) (278,131)
--------- ---- ------------ -----------
Net investment activity ....................... (85) -- (240,706) (278,131)
Proceeds from mutual fund shares sold ........... 600,710 -- 5,648,611 5,717,345
Cost of mutual fund shares sold ................. (600,430) -- (2,128,107) (2,947,267)
--------- ---- ------------ -----------
Realized gain (loss) on investments ........... 280 -- 3,520,504 2,770,078
Change in unrealized gain (loss) on investments . 980 -- (6,062,116) 4,879,109
--------- ---- ------------ -----------
Net gain (loss) on investments ................ 1,260 -- (2,541,612) 7,649,187
--------- ---- ------------ -----------
Reinvested capital gains ........................ -- -- -- --
--------- ---- ------------ -----------
Net increase (decrease) in contract owners'
equity resulting from operations .......... 1,175 -- (2,782,318) 7,371,056
--------- ---- ------------ -----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 2,550 -- 7,671,040 8,334,445
Transfers between funds ......................... 123,348 -- (5,239,357) 940,016
Redemptions ..................................... (2) -- (3,053,621) (3,915,610)
Annual contract maintenance charge (note 2) ..... -- -- (490) (501)
Contingent deferred sales charges (note 2) ...... -- -- (657) (137)
Adjustments to maintain reserves ................ 2,849 -- (487) 301
--------- ---- ------------ -----------
Net equity transactions ..................... 128,745 -- (623,572) 5,358,514
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. 129,920 -- (3,405,890) 12,729,570
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... -- -- 101,757,290 74,110,450
--------- ---- ------------ -----------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. $ 129,920 -- 98,351,400 86,840,020
========= ==== ============ ===========
PutVoyFd SEI500Ix
---------------------------- --------------------------
2000 1999 2000 1999
------------ ------------ ----------- -----------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ -- -- 145,727 244,549
Variable account fee (notes 2 and 5) ............ (1,636,202) (956,510) (135,155) (158,223)
------------ ------------ ----------- -----------
Net investment activity ....................... (1,636,202) (956,510) 10,572 86,326
Proceeds from mutual fund shares sold ........... 39,925,926 4,495,020 11,882,948 4,918,416
Cost of mutual fund shares sold ................. (19,878,097) (2,197,858) (8,543,552) (3,568,793)
------------ ------------ ----------- -----------
Realized gain (loss) on investments ........... 20,047,829 2,297,162 3,339,396 1,349,623
Change in unrealized gain (loss) on investments . (21,859,466) 27,740,301 (3,980,310) 4,351,535
------------ ------------ ----------- -----------
Net gain (loss) on investments ................ (1,811,637) 30,037,463 (640,914) 5,701,158
------------ ------------ ----------- -----------
Reinvested capital gains ........................ -- -- -- --
------------ ------------ ----------- -----------
Net increase (decrease) in contract owners'
equity resulting from operations .......... (3,447,839) 29,080,953 (630,342) 5,787,484
------------ ------------ ----------- -----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 37,994,992 22,888,168 12,893,517 12,261,318
Transfers between funds ......................... 10,649,720 (10,019,948) (8,542,499) 1,930,607
Redemptions ..................................... (12,196,407) (6,915,952) (4,564,859) (3,602,699)
Annual contract maintenance charge (note 2) ..... (244) (115) -- --
Contingent deferred sales charges (note 2) ...... -- 4 -- --
Adjustments to maintain reserves ................ (1,459) 927 (396) 124
------------ ------------ ----------- -----------
Net equity transactions ..................... 36,446,602 5,953,084 (214,237) 10,589,350
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. 32,998,763 35,034,037 (844,579) 16,376,834
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 371,074,041 208,797,858 68,607,261 42,273,711
------------ ------------ ----------- -----------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. 404,072,804 243,831,895 67,762,682 58,650,545
============ ============ =========== ===========
</TABLE>
30
<PAGE> 31
NATIONWIDE DC VARIABLE ACCOUNT
STATEMENTS OF CHANGES IN
CONTRACT OWNERS' EQUITY, CONTINUED
STATEMENTS OF OPERATIONS, CONTINUED
SIX MONTH PERIODS ENDED JUNE 30, 2000 AND 1999
(UNAUDITED)
<TABLE>
<CAPTION>
SelGroFd TRIntStk
------------------------- --------------------------
2000 1999 2000 1999
----------- ---------- ----------- -----------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ $ -- -- -- --
Variable account fee (notes 2 and 5) ............ (14,798) (14,396) (178,127) (146,907)
----------- ---------- ----------- -----------
Net investment activity ....................... (14,798) (14,396) (178,127) (146,907)
Proceeds from mutual fund shares sold ........... 278,240 96,242 30,553,977 26,535,834
Cost of mutual fund shares sold ................. (160,486) (65,745) (25,902,862) (25,422,191)
----------- ---------- ----------- -----------
Realized gain (loss) on investments ........... 117,754 30,497 4,651,115 1,113,643
Change in unrealized gain (loss) on investments . 366,757 325,929 (6,377,351) 575,167
----------- ---------- ----------- -----------
Net gain (loss) on investments ................ 484,511 356,426 (1,726,236) 1,688,810
----------- ---------- ----------- -----------
Reinvested capital gains ........................ -- -- -- --
----------- ---------- ----------- -----------
Net increase (decrease) in contract owners'
equity resulting from operations .......... 469,713 342,030 (1,904,363) 1,541,903
----------- ---------- ----------- -----------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 68,348 63,672 4,238,352 3,670,647
Transfers between funds ......................... (49,319) (48,278) (1,034,935) (2,221,064)
Redemptions ..................................... (223,983) (48,976) (1,342,879) (1,181,241)
Annual contract maintenance charge (note 2) ..... (181) (186) (27) (25)
Contingent deferred sales charges (note 2) ...... (26) (15) -- --
Adjustments to maintain reserves ................ (979) 47 188 967
----------- ---------- ----------- -----------
Net equity transactions ..................... (206,140) (33,736) 1,860,699 269,284
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. 263,573 308,294 (43,664) 1,811,187
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 4,593,307 3,659,593 48,726,030 36,489,979
----------- ---------- ----------- -----------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. $ 4,856,880 3,967,887 48,682,366 38,301,166
=========== ========== =========== ===========
TemForFd WPEmGro
-------------------------- ----------------------
2000 1999 2000 1999
----------- ----------- ---------- --------
<S> <C> <C> <C> <C>
INVESTMENT ACTIVITY:
Reinvested dividends ............................ -- -- -- --
Variable account fee (notes 2 and 5) ............ (250,027) (220,621) (9,982) (668)
----------- ----------- ---------- --------
Net investment activity ....................... (250,027) (220,621) (9,982) (668)
Proceeds from mutual fund shares sold ........... 15,430,330 25,751,409 2,495,525 103,332
Cost of mutual fund shares sold ................. (14,149,751) (27,552,274) (2,409,934) (99,749)
----------- ----------- ---------- --------
Realized gain (loss) on investments ........... 1,280,579 (1,800,865) 85,591 3,583
Change in unrealized gain (loss) on investments . (5,563,740) 14,668,186 (329,440) 31,328
----------- ----------- ---------- --------
Net gain (loss) on investments ................ (4,283,161) 12,867,321 (243,849) 34,911
----------- ----------- ---------- --------
Reinvested capital gains ........................ -- -- -- --
----------- ----------- ---------- --------
Net increase (decrease) in contract owners'
equity resulting from operations .......... (4,533,188) 12,646,700 (253,831) 34,243
----------- ----------- ---------- --------
EQUITY TRANSACTIONS:
Purchase payments received from
contract owners ............................... 6,212,065 5,126,153 896,672 109,132
Transfers between funds ......................... (8,175,877) (8,361,685) 3,233,414 242,920
Redemptions ..................................... (2,086,369) (1,717,062) (132,167) (6,840)
Annual contract maintenance charge (note 2) ..... (32) (40) (1) --
Contingent deferred sales charges (note 2) ...... -- -- -- --
Adjustments to maintain reserves ................ (381) 6,303 (5) (77)
----------- ----------- ---------- --------
Net equity transactions ..................... (4,050,594) (4,946,331) 3,997,913 345,135
NET CHANGE IN CONTRACT OWNERS' EQUITY ............. (8,583,782) 7,700,369 3,744,082 379,378
CONTRACT OWNERS' EQUITY BEGINNING OF PERIOD ....... 83,681,764 62,795,999 1,260,348 58,237
----------- ----------- ---------- --------
CONTRACT OWNERS' EQUITY END OF PERIOD ............. 75,097,982 70,496,368 5,004,430 437,615
=========== =========== ========== ========
</TABLE>
See accompanying notes to financial statements.
31
<PAGE> 32
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS
June 30, 2000 and 1999
(UNAUDITED)
(1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(a) Organization and Nature of Operations
Nationwide DC Variable Account (the Account) was established by
resolution of the Board of Directors of Nationwide Life Insurance
Company (the Company) on July 10, 1974. The Account has been registered
as a unit investment trust under the Investment Company Act of 1940.
The Company offers group flexible fund retirement contracts through the
Account. The primary distribution for the contracts is through an
affiliated sales organization; however, other distributors may be
utilized.
(b) The Contracts
Participants in group flexible fund contracts may be invested in any of
the following subaccounts:
AIM Equity Funds, Inc. - AIM Constellation Fund -
Institutional Class (AIMCon)
AIM Equity Funds, Inc. - AIM Weingarten Fund -
Institutional Class (AIMWein)
American Century Growth Fund - Investor Class (ACGrI)
American Century Income & Growth Fund - Investor Class (ACIncGro)
American Century International Discovery Fund -
Investor Class (ACIntlDisc)
American Century Select Fund - Investor Class (ACSelect)
American Century Ultra Fund - Investor Class (ACUltra)
American Century Value Fund - Investor Class (ACValue)
The Bond Fund of America(SM), Inc. (BdFdAm)
(not available for contracts issued on or after January 1, 1994)
Brown Capital Management - Small Company Fund (BrnCapSmCo)
Davis New York Venture Fund, Inc. - Class A (DNYVenFd)
Delaware Decatur Equity Income Fund Institutional Class (DeDecInc)
(not available for contracts issued on or after August 1, 1993)
Dreyfus Appreciation Fund, Inc. (DryApp)
Dreyfus Cash Management - Class A (DryCsMgt)
Dreyfus Premier Midcap Stock - Class A (DryPreMCap)
Dreyfus S&P 500 Index Fund (Dry500Ix)
The Dreyfus Premier Third Century Fund, Inc. - Class Z (DryPrm3CZ)
Evergreen Income and Growth Fund - Class Y (EvIncGro)
Federated Investment Series Funds, Inc. - Federated Bond Fund -
Class F (FedBdFd)
Federated U.S. Government Securities Fund: 2-5 Years -
Institutional Shares (FedUSGvt)
Fidelity Advisor Growth Opportunities Fund - Class A (FAGrOppA)
Fidelity Advisors High Yield Fund - Class T (FAHiYld)
Fidelity Asset Manager(TM) (FidAsMgr)
32
<PAGE> 33
Fidelity Capital & Income Fund (FidCapInc)
(not available for contracts issued on or after January 1, 1987)
Fidelity Contrafund (FidContr) (not available for contracts issued
on or after June 30, 1998)
Fidelity Equity-Income Fund (FidEqInc)
Fidelity Growth & Income Portfolio (FidGrInc)
Fidelity Magellan(R) Fund (FidMgln) (not available for contracts
issued on or after October 1, 1997)
Fidelity OTC Portfolio (FidOTC)
Fidelity Puritan(R) Fund (FidPurtn)
The Growth Fund of America(R), Inc. (GroFdAm)
(not available for contracts issued on or after January 1, 1994)
The Income Fund of America(R), Inc. (IncFdAm)
(not available for contracts issued on or after January 1, 1994)
INVESCO Dynamics Fund, Inc. - Investor Class (InvDynam)
INVESCO Equity Income Fund, Inc. - Investor Class (InvEqInc)
INVESCO Total Return Fund - Investor Class (InvTotRet)
Janus Fund (JanFund)
Janus Twenty Fund (Jan20Fd)
Janus Worldwide Fund (JanWrldwde)
MAS Funds - Fixed Income Portfolio - Institutional Shares (MASFIP)
Massachusetts Investors Growth Stock Fund - Class A (MFSGrStk)
MFS(R) Growth Opportunities Fund - Class A (MFSGrOpp)
MFS(R) High Income Fund - Class A (MFSHiInc)
Morgan Stanley Dean Witter Institutional Fund, Inc. -
Equity Growth Portfolio - Class B (MSIEqGroB)
Portfolios of the Nationwide Asset Allocation Trust (NAAT)
(managed for a fee by an affiliated investment advisor)
NAAT - The Aggressive Portfolio (NAATAggr)
NAAT - The Conservative Portfolio (NAATCons)
NAAT - The Moderate Portfolio (NAATMod)
NAAT - The Moderately Aggressive Portfolio (NAATModAgg)
NAAT - The Moderately Conservative Portfolio (NAATModCon)
Nationwide(R) Mutual Funds
(managed for a fee by an affiliated investment advisor)
Nationwide(R) Bond Fund - Class D (NWBdFd)
Nationwide(R) Fund - Class D (NWFund)
Nationwide(R) Growth Fund - Class D (NWGroFd)
Nationwide(R) Money Market Fund - Prime Shares (NWMyMkt)
Nationwide(R) S&P 500 Index Fund - Institutional Service Class
(NWIndxFd)
Prestige Balanced Fund - Institutional Service Class (PrBalI)
Prestige International Fund - Institutional Service Class
(PrIntlI)
Prestige Large Cap Growth Fund - Institutional Service Class
(PrLgCapGrI)
Prestige Large Cap Value Fund - Institutional Service Class
(PrLgCapVlI)
Prestige Small Cap Fund - Institutional Service Class (PrSmCapI)
Nationwide(R) SAT - Income Fund (NSATInc)
(managed for a fee by an affiliated investment advisor)
Nationwide(R) SAT - Small Company Fund (NSATSmCo)
(managed for a fee by an affiliated investment advisor)
(Continued)
33
<PAGE> 34
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
Neuberger Berman Equity Funds(R) - Guardian Fund (NBGuard)
Neuberger Berman Equity Funds(R) - Manhattan Fund (NBManhFd)
Neuberger Berman Equity Trust(R) - Partners Trust (NBPartTr)
Oppenheimer Global Fund - Class A (OppGlob)
Putnam International Growth Fund - Class A (PutIntGro)
Putnam Investors Fund - Class A (PutInvFd)
Putnam Voyager Fund - Class A (PutVoyFd)
SEI Index Funds - S&P 500 Index Portfolio - Class E (SEI500Ix)
Seligman Growth Fund, Inc. - Class A (SelGroFd)
Strong Common Stock Fund, Inc. (StComStk)
T. Rowe Price International Funds, Inc. - International Stock
Fund(R) (TRIntStk)
Templeton Foreign Fund - Class A (TemForFd)
Templeton Global Smaller Companies Fund, Inc. -
Class A (TemGlSmCo)
Warburg Pincus Emerging Growth Fund - Common Shares (WPEmGro)
The following funds are available for investment only by Plans
established under Internal Revenue Code (IRC) Section 403(b).
Portfolios of the American Century Variable Portfolios, Inc.
(American Century VP);
American Century VP - American Century VP Balanced (ACVPBal)
American Century VP - American Century VP Capital Appreciation
(ACVPCapAp)
The Dreyfus Socially Responsible Growth Fund, Inc. (DrySRGro)
Dreyfus Stock Index Fund (DryStkIx)
Portfolios of the Fidelity Variable Insurance Products Fund I &
II (Fidelity VIP);
Fidelity VIP - Asset Manager Portfolio (FidVIPAM)
Fidelity VIP - Equity-Income Portfolio (FidVIPEI)
Fidelity VIP - Growth Portfolio (FidVIPGr)
Fidelity VIP - High Income Portfolio (FidVIPHI)
Fidelity VIP - Overseas Portfolio (FidVIPOv)
Funds of the Nationwide Separate Account Trust (Nationwide SAT)
(managed for a fee by an affiliated investment advisor);
Nationwide(R) SAT - Capital Appreciation Fund (NSATCapAp)
Nationwide(R) SAT - Government Bond Fund (NSATGvtBd)
Nationwide(R) SAT - Money Market Fund (NSATMyMkt)
Nationwide(R) SAT - Total Return Fund (NSATTotRe)
Portfolios of the Neuberger & Berman Advisers Management Trust
(Neuberger & Berman AMT);
Neuberger Berman AMT - Growth Portfolio (NBAMTGro)
Neuberger Berman AMT - Limited Maturity Bond Portfolio
(NBAMTLMat)
Neuberger Berman AMT - Partners Portfolio (NBAMTPart)
All of the above funds were being utilized as of June 30, 2000, except
AIM Equity Funds, Inc. - AIM Weingarten Fund - Institutional Class
(AIMWein), Fidelity OTCPortfolio (FidOTC), Fidelity Puritan(R) Fund
(FidPurtn), Janus Twenty Fund (Jan20Fd), Nationwide SAT - Capital
Appreciation Fund (NSATCapAp), Strong Common Stock Fund, Inc.
(StComStk) and Templeton Global Smaller Companies Fund, Inc. - Class I
(TemGlSmCo).
34
<PAGE> 35
The following funds were no longer available as of June 30, 1998:
American Century International Growth Fund (ACIntlGrow), The
Institutional Shares of Federated GNMA Trust (FedGNMA), Neuberger
Berman Guardian Trust (NBGuardTr) and Neuberger Berman Partners Fund
(NBPartFd).
The contract owners' equity is affected by the investment results of
each fund, equity transactions by contract owners and certain expenses
(see note 2). The accompanying financial statements include only
contract owners' purchase payments pertaining to the variable portions
of their contracts and exclude any purchase payments for fixed dollar
benefits, the latter being included in the accounts of the Company.
(c) Security Valuation, Transactions and Related Investment Income
The market value of the underlying mutual funds is based on the closing
net asset value per share at June 30, 2000. The cost of investments
sold is determined on the specific identification basis. Investment
transactions are accounted for on the trade date (date the order to buy
or sell is executed) and dividend income is recorded on the ex-dividend
date.
(d) Federal Income Taxes
Operations of the Account form a part of, and are taxed with,
operations of the Company, which is taxed as a life insurance company
under the IRC. The assets in this account are held pursuant to
contracts with entities which are exempt from Federal income tax.
Because of this exemption, no taxes need be provided for investment
income or realized and unrealized capital gains. Annuity payouts and
withdrawal payments are taxable as wages when received by the
participants.
(e) Use of Estimates in the Preparation of Financial Statements
The preparation of financial statements in conformity with generally
accepted accounting principles may require management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities, if
any, at the date of the financial statements and the reported amounts
of revenues and expenses during the reporting period. Actual results
could differ from those estimates.
(f) Annuity Payout Reserves
Annuity reserves are computed for contracts in the variable payout
stage according to industry standard mortality tables. The assumed
investment return is 3.5 percent unless the annuitant elects otherwise,
in which case the rate may vary from 3.5 percent to 7 percent, as
regulated by the laws of the respective states. The mortality risk is
fully borne by the Company and may result in additional amounts being
transferred into the Account by the Company to cover greater longevity
of annuitants than expected. Conversely, if reserves exceed amounts
required, transfers may be made to the Company.
(2) EXPENSES
Net purchase payments received for contracts issued before July 1, 1980,
represent contributions by the contract owners less a sales charge by the
Company of not more than 5%, to cover sales expenses. The Company does not
deduct a sales charge from purchase payments for contracts issued after
July 1, 1980. However, if any part of the contract value representing
participant accounts that have been established under the contracts and
held in the Account for less than sixteen (16) years is surrendered, the
Company will, with certain exceptions, assess a contingent deferred sales
charge. This charge will be equal to not more than 5% of the lesser of all
purchase payments received on behalf of the surrendering participant or
contract owner prior to the date of the request for surrender, or the
amount surrendered. Sales charges or contingent deferred sales charges of
less than 5% reflect actual variations in expense (usually reduced agents'
commissions). No sales charges are deducted on redemptions used to purchase
units in the fixed investment options of the Company. Sales charges may be
reduced or eliminated upon negotiated conversion of the contracts to other
investment programs offered by the Company or its affiliates.
The following contract charges are deducted by the Company on contracts
issued before July 1, 1980: (a) an annual contract maintenance charge of $8
assessed by surrendering units; (b) a charge for mortality and expense risk
assessed through the daily unit value calculation equal to an annual rate
of 0.95%; and (c) a charge on complete redemption, equal to the lesser of
$8 or 2% of the value of the account, except when such redemption occurs
within 31 days of the anniversary date of the contract.
(Continued)
35
<PAGE> 36
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
For contracts issued beginning July 1, 1980 through April 30, 1991,
contract charges include: (a) an annual contract maintenance charge of $12
or $15, based upon administrative services provided, assessed by
surrendering units; and (b) a charge for mortality and expense risk
assessed through the daily unit value calculation equal to an annual rate
of 0.95%.
For contracts issued on or after May 1, 1991, contract charges include a
mortality risk charge, an expense risk charge and an administration charge
assessed through the daily unit value calculation equal to an annual rate
of 0.35%, 0.15% and 0.45% respectively. Beginning November 1, 1996 through
April 30, 1998, the administration charge was based upon the aggregate
balance of assets held under the contract by each contract owner as
follows:
<TABLE>
<CAPTION>
Expense Administration
Tier Assets (Millions) Charge
--------- -------------- ------------
<S> <C> <C> <C>
I Up to $10 .45%
II Over $10 to $25 .40%
III Over $25 to $50 .30%
IV Over $50 to $150 .20%
V Over $150 .15%
</TABLE>
The administration charge implemented on November 1, 1996 was based on the
June 30, 1996 asset balance. Thereafter, the administrative charge was
determined using the December 31 asset balance and became effective on the
following May 1.
Beginning May 1, 1998 the Company will assess a charge for a Variable
Account Fee on all contracts outstanding. Under the terms of the contracts,
the Company assumes various risks and incurs administrative expenses
associated with the issuance of the contracts. For the Company's
contractual promise to accept these risks and expenses, the contracts
provide for the deduction of a Variable Account Fee, which is calculated as
a percentage of assets and deducted on each valuation date from amounts
held in the Account. On an annual basis, the maximum Variable Account Fee
is 0.95% of the average account value.
As with all other charges, this fee is subject to negotiation and may vary
from one contract to another reflecting the unique characteristics of
different contracts when considered as a whole. In negotiating the amount
of the fee, the Company may consider factors which may reduce expenses
incurred by the Company. These factors might include, but are not limited
to: (1) the size of the contract; (2) the number of eligible employees; (3)
the number of contract participants; (4) demographics of contract
participants; (5) general economic conditions; (6) the varying costs
associated with the inclusion of underlying mutual fund options; (7) the
type of contract issued (for example, whether the contract is issued as an
allocated contract or unallocated contract); (8) costs associated with
distribution of the contract; (9) any recovery of any credits on initial
transfers; and (10) any other factors which the Company deems relevant (see
summary of variable account fees at Note 5).
Contract owners may negotiate an exchange privilege with the Company. The
exchange privilege provides for transfers of units among the various
investment options for each participant's account. The number of transfers
allowed, and any administrative charges associated therewith, are subject
to negotiation between the contract owner and the Company.
(3) RELATED PARTY TRANSACTIONS
The Company performs various services on behalf of the Mutual Fund
Companies in which the Account invests and may receive fees for the
services performed. These services include, among other things, shareholder
communications, preparation, postage, fund transfer agency and various
other record keeping and customer service functions. These fees are paid to
an affiliate of the Company.
36
<PAGE> 37
(4) COMPONENTS OF CONTRACT OWNERS' EQUITY
The following is a summary of contract owners' equity at June 30, 2000.
<TABLE>
<CAPTION>
ASSET PERIOD
CHARGE UNITS UNIT VALUE AMOUNT RETURN(b)
------- ---------- ---------- ------------ --------
<S> <C> <C> <C> <C> <C>
AIM Equity Funds, Inc. -
AIM Constellation Fund -
Institutional Class................... 0.40% 4,396,502 $4.299626 $18,903,314 9%
American Century Growth Fund -
Investor Class........................ 0.95% 9,123,292 11.207594 102,250,153 6%
0.90% 3,291,315 11.228108 36,955,240 6%
0.80% 3,837,660 11.269249 43,247,546 6%
0.65% 1,641,618 11.337086 18,611,164 6%
0.60% 231,185 11.316376 2,616,176 6%
0.50% 708,513 11.292022 8,000,544 6%
0.40% 7,444,266 11.310869 84,201,118 6%
0.35% 174,630 11.363656 1,984,435 6%
0.30% 266,013 11.369560 3,024,451 6%
American Century Income &
Growth Fund - Investor Class.......... 0.80% 5,335,419 1.233884 6,583,288 (4)%
0.70% 2,272,361 1.235894 2,808,397 (4)%
0.55% 1,196,261 1.238915 1,482,066 (4)%
0.40% 936,381 1.241943 1,162,932 (4)%
0.35% 156,977 1.242954 195,115 (4)%
0.30% 375,516 1.243966 467,129 (4)%
0.25% 166,919 1.244979 207,811 (4)%
0.20% 38,934 1.245992 48,511 (4)%
0.15% 1,396,266 1.247006 1,741,152 (4)%
American Century International
Discovery Fund - Investor Class....... 0.80% 9,187,811 2.053104 18,863,532 1%
0.70% 4,970,590 2.056444 10,221,740 1%
0.55% 3,750,637 2.061465 7,731,807 1%
0.40% 2,981,302 2.066497 6,160,852 1%
0.35% 692,772 2.068177 1,432,775 1%
0.30% 74,754 2.069859 154,730 1%
0.25% 4,116,512 2.071542 8,527,528 2%
0.20% 185,650 2.073226 384,894 2%
0.15% 18,797,753 2.074912 39,003,683 2%
American Century Select Fund -
Investor Class........................ 0.95% 39,292 3.399762 133,583 1%
0.65% 1,282,606 3.416817 4,382,430 2%
(Continued)
</TABLE>
37
<PAGE> 38
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
<TABLE>
<CAPTION>
ASSET UNIT PERIOD
CHARGE UNITS VALUE AMOUNT RETURN(b)
------- ---------- ------ ------------ --------
<S> <C> <C> <C> <C> <C>
American Century Ultra Fund -
Investor Class........................ 0.95% 66,352,641 4.512048 299,386,301 (4)%
0.90% 22,959,479 4.520308 103,783,917 (4)%
0.80% 22,278,679 4.536871 101,075,493 (4)%
0.65% 15,221,842 4.564182 69,475,257 (4)%
0.60% 1,104,152 4.555846 5,030,346 (4)%
0.50% 2,400,180 4.546041 10,911,317 (4)%
0.40% 27,965,259 4.553630 127,343,442 (4)%
0.35% 1,427,708 4.574882 6,531,596 (4)%
0.30% 767,477 4.577262 3,512,943 (4)%
American Century Value Fund -
Investor Class........................ 0.80% 6,345 0.972256 6,169 (3)%(a)
0.55% 4,167 0.972654 4,053 (3)%(a)
0.40% 68 0.972893 66 (3)%(a)
American Century VP -
American Century VP Balanced.......... 0.95% 15,493 1.901732 29,464 1%
American Century VP - American
Century VP Capital Appreciation....... 0.95% 58,804 2.897987 170,413 17%
The Bond Fund of America(SM), Inc. ...... 0.95% 2,771,530 2.499123 6,926,394 2%
0.90% 840,687 2.503769 2,104,886 2%
0.80% 757,283 2.513080 1,903,113 2%
0.65% 315,016 2.528409 796,489 2%
0.60% 95,056 2.523773 239,900 2%
0.55% 84,180 2.522448 212,340 2%
0.50% 31,105 2.518298 78,332 2%
0.40% 1,247,723 2.522568 3,147,466 2%
0.35% 51,203 2.534486 129,773 2%
Brown Capital Management -
Small Company Fund.................... 0.80% 817,525 1.498802 1,225,308 11%
0.70% 437,848 1.499919 656,737 11%
0.55% 332,194 1.501598 498,822 11%
0.40% 196,599 1.503278 295,543 11%
0.35% 199,818 1.503839 300,494 11%
0.30% 11,302 1.504399 17,003 11%
0.25% 196,642 1.504960 295,938 11%
0.20% 17,536 1.505521 26,401 11%
Davis New York Venture Fund, Inc. -
Class A............................... 0.90% 143,525 3.161980 453,823 7%
</TABLE>
38
<PAGE> 39
<TABLE>
<CAPTION>
ASSET UNIT PERIOD
CHARGE UNITS VALUE AMOUNT RETURN(b)
------- ---------- ------ ------------ --------
<S> <C> <C> <C> <C> <C>
Delaware Decatur Equity Income Fund -
Institutional Class................... 0.95% 37,855 2.865650 108,479 (6)%
0.90% 7,185 2.870898 20,627 (6)%
0.80% 19,035 2.881423 54,848 (6)%
0.65% 26 2.880042 75 (6)%
0.60% 6,112 2.893487 17,685 (6)%
0.35% 143 2.905591 415 (6)%
Dreyfus Appreciation Fund, Inc........... 0.80% 2,037,264 1.216040 2,477,395 3%
0.70% 1,055,185 1.218020 1,285,236 3%
0.55% 572,488 1.220998 699,007 3%
0.40% 197,098 1.223982 241,244 3%
0.35% 89,928 1.224978 110,160 3%
0.30% 336,177 1.225976 412,145 3%
0.25% 30,237 1.226974 37,100 3%
0.20% 16,381 1.227972 20,115 4%
0.15% 204,819 1.228972 251,717 4%
Dreyfus Cash Management -
Class A............................... 0.90% 124,704 1.353857 168,831 2%
Dreyfus Premier Midcap Stock -
Class A............................... 0.80% 573,678 1.323320 759,160 6%
0.70% 253,287 1.325476 335,726 6%
0.55% 143,965 1.328717 191,289 7%
0.40% 290,978 1.331966 387,573 7%
0.35% 4,341 1.333051 5,787 7%
0.30% 3,571 1.334136 4,764 7%
0.25% 77,549 1.335223 103,545 7%
0.20% 30,841 1.336310 41,213 7%
0.15% 1,650,857 1.337398 2,207,853 7%
The Dreyfus Premier Third Century
Fund, Inc. - Class Z.................. 0.95% 40,292 5.944873 239,531 1%
0.80% 5,309,899 5.977579 31,740,341 1%
0.70% 1,694,781 5.999482 10,167,808 1%
0.55% 1,224,864 5.984668 7,330,404 1%
0.40% 1,108,267 5.999660 6,649,225 2%
0.35% 241,899 6.033978 1,459,613 2%
0.30% 128,851 6.030797 777,074 2%
0.25% 116,948 6.014689 703,406 2%
0.20% 39,915 6.049093 241,450 2%
0.15% 3,221,200 6.024730 19,406,860 2%
(Continued)
</TABLE>
39
<PAGE> 40
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
<TABLE>
<CAPTION>
ASSET UNIT PERIOD
CHARGE UNITS VALUE AMOUNT RETURN(b)
------- ---------- ------ ------------ --------
<S> <C> <C> <C> <C> <C>
Dreyfus S&P 500 Index Fund............... 0.95% 31,409,128 1.818258 57,109,898 (1)%
0.90% 9,853,563 1.821135 17,944,668 (1)%
0.80% 9,350,845 1.826904 17,083,096 (1)%
0.65% 8,314,575 1.827381 15,193,896 (1)%
0.60% 1,170,335 1.834546 2,147,033 (1)%
0.55% 534,018 1.834488 979,650 (1)%
0.50% 1,699,255 1.831960 3,112,967 (1)%
0.35% 740,690 1.842214 1,364,509 (1)%
The Dreyfus Socially Responsible
Growth Fund, Inc...................... 0.95% 16,186 3.354559 54,297 2%
Dreyfus Stock Index Fund................. 0.95% 58,431 3.173582 185,436 (1)%
Evergreen Income And Growth Fund -
Class Y............................... 0.95% 508,701 2.639052 1,342,488 (4)%
0.90% 141,839 2.643885 375,006 (4)%
0.80% 148,109 2.653578 393,019 (4)%
0.65% 55,447 2.669562 148,019 (4)%
0.60% 3,393 2.664686 9,041 (4)%
0.55% 52,860 2.663283 140,781 (4)%
0.50% 6,408 2.658949 17,039 (4)%
0.40% 341,198 2.663391 908,744 (4)%
0.35% 13,739 2.675829 36,763 (4)%
Federated Investment Series Fund, Inc. -
Federated Bond Fund - Class F......... 0.80% 351,184 0.995647 349,655 1%
0.70% 50,712 0.997270 50,574 1%
0.55% 8,249 0.999710 8,247 1%
0.40% 112,415 1.002155 112,657 1%
0.35% 15,600 1.002972 15,646 1%
0.20% 331 1.005426 333 1%
0.15% 57,706 1.006245 58,066 1%
Federated U.S. Government
Securities Fund: 2-5 Years -
Institutional Shares.................. 0.95% 2,205,647 1.316785 2,904,363 3%
0.90% 502,185 1.319222 662,494 3%
0.80% 691,469 1.324106 915,578 3%
0.65% 539,313 1.323770 713,926 3%
0.60% 65,768 1.329689 87,451 3%
0.55% 54,804 1.328974 72,833 3%
0.50% 20,668 1.327268 27,432 3%
0.35% 1,504 1.335545 2,009 3%
</TABLE>
40
<PAGE> 41
<TABLE>
<CAPTION>
ASSET UNIT PERIOD
CHARGE UNITS VALUE AMOUNT RETURN(b)
------- ---------- ------ ------------ --------
<S> <C> <C> <C> <C> <C>
Fidelity Advisor Growth Opportunities
Fund - Class A........................ 0.80% 1,751,705 1.071191 1,876,411 (5)%
0.70% 467,965 1.072937 502,097 (5)%
0.55% 155,470 1.075562 167,218 (5)%
0.40% 119,951 1.078192 129,330 (5)%
0.35% 38,305 1.079070 41,334 (5)%
0.30% 1,060 1.079949 1,145 (5)%
0.25% 22,020 1.080829 23,800 (5)%
0.20% 2,836 1.081710 3,068 (4)%
0.15% 118,812 1.082591 128,625 (4)%
Fidelity Advisor High Yield Fund -
Class T............................... 0.80% 583,152 1.093248 637,530 (4)%
0.70% 157,738 1.095086 172,737 (4)%
0.55% 152,609 1.097845 167,541 (4)%
0.40% 15,155 1.100607 16,680 (4)%
0.35% 14,350 1.101529 15,807 (4)%
0.30% 808 1.102450 891 (4)%
0.25% 44,089 1.103372 48,647 (4)%
0.20% 282 1.104294 311 (4)%
Fidelity Asset Manager(TM)............... 0.95% 4,196,453 2.029945 8,518,569 3%
0.90% 1,316,219 2.033662 2,676,745 3%
0.80% 1,010,629 2.041117 2,062,812 3%
0.65% 848,833 2.040135 1,731,734 4%
0.60% 46,195 2.049659 94,684 4%
0.55% 36,022 2.048579 73,794 4%
0.50% 239,297 2.045248 489,422 4%
0.35% 83,680 2.058229 172,233 4%
Fidelity Capital & Income Fund........... 0.95% 56,571 5.367751 303,659 (1)%
0.90% 29,334 5.377686 157,749 (1)%
0.80% 51,617 5.397595 278,608 (1)%
0.65% 13,947 5.430340 75,737 (1)%
0.50% 9,950 5.410484 53,834 (1)%
0.40% 51,456 5.420000 278,892 (1)%
0.35% 1,682 5.424760 9,124 (1)%
Fidelity Contrafund...................... 0.95% 60,633,113 3.975599 241,052,943 (2)%
0.90% 19,843,233 3.982878 79,033,176 (2)%
0.80% 19,008,505 3.997476 75,986,043 (2)%
0.65% 13,288,917 4.021547 53,442,004 (2)%
0.60% 927,624 4.014200 3,723,668 (2)%
0.55% 586,512 4.012083 2,353,135 (2)%
0.50% 1,802,734 4.005559 7,220,957 (2)%
0.40% 8,287,893 4.012248 33,253,082 (2)%
0.35% 685,454 4.030978 2,763,050 (2)%
</TABLE>
(Continued)
41
<PAGE> 42
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
<TABLE>
<CAPTION>
ASSET UNIT PERIOD
CHARGE UNITS VALUE AMOUNT RETURN(b)
------- ---------- ------ ------------ --------
<S> <C> <C> <C> <C> <C>
Fidelity Equity - Income Fund............ 0.95% 12,754,562 7.928217 101,120,935 (3)%
0.90% 4,281,043 7.942735 34,003,190 (3)%
0.80% 5,089,829 7.971851 40,575,358 (3)%
0.65% 2,525,071 8.019859 20,250,713 (3)%
0.60% 122,773 8.005221 982,825 (3)%
0.55% 84,834 8.001010 678,758 (3)%
0.50% 1,015,213 7.987998 8,109,519 (3)%
0.40% 5,448,939 8.001343 43,598,830 (3)%
0.35% 206,881 8.038699 1,663,054 (3)%
Fidelity Growth & Income Portfolio....... 0.40% 5,774,024 3.630635 20,963,374 1%
Fidelity Magellan(R) Fund................ 0.95% 45,637,311 3.910553 178,467,123 0%
0.90% 12,118,614 3.917711 47,477,227 0%
0.80% 12,676,512 3.932067 49,844,895 0%
0.65% 8,211,435 3.955738 32,482,285 0%
0.60% 707,793 3.948514 2,794,731 0%
0.55% 308,304 3.946434 1,216,701 0%
0.50% 2,165,374 3.940017 8,531,610 0%
0.40% 23,491,834 3.946595 92,712,755 1%
0.35% 527,385 3.965014 2,091,089 1%
Fidelity VIP - Asset Manager Portfolio... 0.95% 33,828 1.862505 63,005 (1)%
Fidelity VIP - Equity Income Portfolio... 0.95% 111,838 2.112616 236,271 (3)%
Fidelity VIP - Growth Portfolio.......... 0.95% 113,380 3.736477 423,642 5%
Fidelity VIP - High Income Portfolio..... 0.95% 21,925 1.500528 32,899 (5)%
Fidelity VIP - Overseas Portfolio........ 0.95% 109,444 1.902498 208,217 (6)%
The Growth Fund of America(R), Inc....... 0.95% 3,700,278 7.361458 27,239,441 16%
0.90% 1,282,426 7.374930 9,457,802 16%
0.80% 1,047,859 7.401949 7,756,199 16%
0.65% 739,823 7.398368 5,473,483 16%
0.60% 241,671 7.432896 1,796,315 16%
0.55% 66,956 7.428974 497,414 16%
0.50% 290,765 7.416893 2,156,573 16%
0.35% 52,717 7.463940 393,477 16%
The Income Fund of America(R), Inc....... 0.95% 3,316,381 2.785650 9,238,277 (1)%
0.90% 821,906 2.790752 2,293,736 (1)%
0.80% 985,214 2.800984 2,759,569 (1)%
0.65% 322,068 2.799637 901,673 (1)%
0.60% 129,440 2.812709 364,077 (1)%
0.55% 42,491 2.811229 119,452 (1)%
0.50% 189,605 2.806657 532,156 (1)%
0.35% 18,307 2.824474 51,708 (1)%
</TABLE>
42
<PAGE> 43
<TABLE>
<CAPTION>
ASSET UNIT PERIOD
CHARGE UNITS VALUE AMOUNT RETURN(b)
------- ---------- ------ ------------ --------
<S> <C> <C> <C> <C> <C>
INVESCO Dynamics Fund, Inc. -
Investor Class........................ 0.80% 17,349,304 2.223429 38,574,946 11%
0.70% 8,337,539 2.227049 18,568,108 11%
0.55% 5,527,761 2.232489 12,340,666 11%
0.40% 4,586,616 2.237943 10,264,585 11%
0.35% 1,138,114 2.239764 2,549,107 12%
0.30% 608,000 2.241586 1,362,884 12%
0.25% 2,519,373 2.243410 5,651,987 12%
0.20% 344,197 2.245235 772,803 12%
0.15% 26,706,297 2.247062 60,010,705 12%
INVESCO Equity Income Fund, Inc. -
Investor Class........................ 0.95% 6,555,708 2.704771 17,731,689 2%
0.90% 1,671,240 2.709724 4,528,599 2%
0.80% 1,944,801 2.719657 5,289,192 2%
0.65% 985,683 2.718349 2,679,430 2%
0.60% 87,965 2.731039 240,236 2%
0.55% 146,265 2.729601 399,245 2%
0.50% 176,458 2.725163 480,877 2%
0.35% 75,474 2.742458 206,984 2%
INVESCO Total Return Fund -
Investor Class........................ 0.80% 601,438 0.947327 569,758 (5)%
0.70% 308,427 0.948871 292,657 (5)%
0.55% 54,175 0.951192 51,531 (5)%
0.40% 123,833 0.953519 118,077 (5)%
0.35% 122,219 0.954296 116,633 (5)%
0.30% 11,658 0.955073 11,134 (5)%
0.25% 20,016 0.955851 19,132 (5)%
0.20% 26,252 0.956630 25,113 (5)%
Janus Fund............................... 0.95% 51,241,102 4.007552 205,351,381 3%
0.90% 19,275,592 4.014888 77,389,343 3%
0.80% 17,402,011 4.029599 70,123,126 3%
0.65% 12,078,108 4.027650 48,646,392 3%
0.60% 1,652,175 4.046450 6,685,444 3%
0.50% 3,347,346 4.037737 13,515,703 3%
0.35% 611,348 4.063353 2,484,123 3%
0.30% 996,765 4.065467 4,052,315 3%
Janus Worldwide Fund..................... 0.90% 1,218,589 2.060829 2,511,304 2%
MAS Funds-Fixed Income Portfolio -
Institutional Shares.................. 0.95% 2,120,915 1.428935 3,030,650 3%
0.90% 435,082 1.431553 622,843 3%
0.80% 567,908 1.436803 815,972 3%
0.65% 496,224 1.436112 712,633 3%
0.60% 142,634 1.442819 205,795 3%
0.55% 22,663 1.442059 32,681 3%
0.50% 34,230 1.439714 49,281 3%
0.35% 9,337 1.448856 13,528 3%
(Continued)
</TABLE>
43
<PAGE> 44
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
<TABLE>
<CAPTION>
ASSET UNIT PERIOD
CHARGE UNITS VALUE AMOUNT RETURN(b)
------- ---------- ------ ------------ --------
<S> <C> <C> <C> <C> <C>
Massachusetts Investors
Growth Stock Fund - Class A........... 0.95% 164,814 31.364765 5,169,352 3%
0.90% 31,172 31.422168 979,492 3%
0.80% 10,312 31.537291 325,213 3%
0.65% 6,053 31.727120 192,044 3%
0.55% 1,078 31.652501 34,121 3%
0.50% 236 31.601054 7,458 3%
0.40% 254,527 31.653803 8,056,748 3%
MFS(R) Growth Opportunities Fund -
Class A............................... 0.95% 368,451 16.048271 5,913,001 6%
0.90% 233,087 16.077652 3,747,492 6%
0.80% 168,446 16.136576 2,718,142 6%
0.65% 116,094 16.233740 1,884,640 6%
0.55% 16,415 16.195531 265,850 6%
0.50% 3,850 16.169186 62,251 6%
0.40% 2,007,989 16.196180 32,521,751 6%
0.35% 5,933 16.271790 96,541 6%
MFS(R) High Income Fund - Class A........ 0.95% 134,451 6.524070 877,168 0%
0.90% 20,624 6.536145 134,801 0%
0.80% 27,093 6.560343 177,739 0%
0.65% 3,689 6.600142 24,348 0%
0.55% 2,328 6.584462 15,329 0%
0.40% 539,259 6.587574 3,552,409 0%
0.35% 574 6.617017 3,798 0%
Morgan Stanley Dean Witter
Institutional Fund -
Equity Growth Portfolio - Class....... 0.80% 767,679 1.618321 1,242,351 6%
0.70% 472,668 1.620955 766,174 6%
0.55% 107,305 1.624915 174,362 6%
0.40% 85,200 1.628885 138,781 6%
0.35% 6,849 1.630210 11,165 6%
0.30% 6,882 1.631537 11,228 6%
0.25% 71,128 1.632864 116,142 6%
0.20% 1,829 1.634193 2,989 6%
0.15% 1,295,237 1.635523 2,118,390 6%
NAAT - The Aggressive Portfolio.......... 0.70% 2,479,896 1.461791 3,625,090 3%
0.60% 464,628 1.466786 681,510 3%
0.45% 408,711 1.465068 598,789 3%
0.25% 84,666 1.469965 124,456 3%
0.20% 287,263 1.476608 424,175 3%
0.15% 109,366 1.477628 161,602 3%
0.10% 75,896 1.473649 111,844 3%
</TABLE>
44
<PAGE> 45
<TABLE>
<CAPTION>
ASSET UNIT PERIOD
CHARGE UNITS VALUE AMOUNT RETURN(b)
------- ---------- ------ ------------ --------
<S> <C> <C> <C> <C> <C>
NAAT - The Conservative Portfolio........ 0.70% 486,524 1.167692 568,110 2%
0.60% 191,638 1.171682 224,539 2%
0.45% 65,390 1.170314 76,527 2%
0.25% 40,762 1.174228 47,864 2%
0.20% 9,312 1.179532 10,984 2%
0.15% 31,127 1.180347 36,741 2%
0.10% 905 1.177172 1,065 2%
NAAT - The Moderate Portfolio............ 0.70% 2,202,582 1.340572 2,952,720 3%
0.60% 580,932 1.345152 781,442 3%
0.45% 221,405 1.343579 297,475 3%
0.25% 69,334 1.348071 93,467 3%
0.20% 117,609 1.354161 159,262 3%
0.15% 91,120 1.355097 123,476 3%
NAAT - The Moderately
Aggressive Portfolio.................. 0.70% 2,228,223 1.394128 3,106,428 3%
0.60% 547,993 1.398892 766,583 3%
0.45% 311,045 1.397255 434,609 3%
0.25% 168,442 1.401926 236,143 3%
0.20% 186,905 1.408261 263,211 3%
0.15% 133,226 1.409233 187,746 3%
0.10% 43,815 1.405439 61,579 3%
NAAT - The Moderately
Conservative Portfolio................ 0.70% 672,455 1.262856 849,214 2%
0.60% 149,284 1.267171 189,168 2%
0.45% 294,649 1.265690 372,934 2%
0.25% 42,652 1.269922 54,165 3%
0.20% 21,978 1.275659 28,036 3%
0.15% 56,818 1.276541 72,531 3%
0.10% 505 1.273106 643 3%
Nationwide(R) Bond Fund - Class D........ 0.95% 72,488 2.287003 165,780 2%
0.40% 44,416 2.309264 102,568 2%
Nationwide(R) Fund - Class D............. 0.95% 228,905 27.124297 6,208,887 3%
0.90% 10,125 27.173961 275,136 3%
0.80% 2,637,783 27.273561 71,941,736 3%
0.70% 769,029 27.373526 21,051,035 3%
0.55% 576,053 27.306066 15,729,741 3%
0.40% 442,075 27.374542 12,101,601 3%
0.35% 57,547 27.531100 1,584,332 3%
0.30% 40,187 27.516630 1,105,811 3%
0.25% 63,858 27.443189 1,752,467 3%
0.20% 30,633 27.600140 845,475 3%
0.15% 848,114 27.489049 23,313,847 3%
(Continued)
</TABLE>
45
<PAGE> 46
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
<TABLE>
<CAPTION>
ASSET UNIT PERIOD
CHARGE UNITS VALUE AMOUNT RETURN(b)
------- ---------- ------ ------------ --------
<S> <C> <C> <C> <C> <C>
Nationwide(R) Growth Fund - Class D....... 0.95% 744,563 5.180923 3,857,524 (5)%
0.90% 201,199 5.190409 1,044,305 (5)%
0.80% 256,456 5.209434 1,335,991 (5)%
0.65% 375,963 5.240804 1,970,348 (5)%
0.55% 31,388 5.228477 164,111 (5)%
0.50% 22,030 5.219974 114,996 (5)%
0.40% 848,603 5.228692 4,437,084 (5)%
0.35% 19,688 5.253101 103,423 (5)%
Nationwide(R) Money Market Fund -
Prime Shares.......................... 0.95% 226,291 3.315175 750,194 2%
0.80% 8,881,163 3.333607 29,606,307 2%
0.70% 2,819,995 3.345936 9,435,523 2%
0.55% 3,138,899 3.345863 10,502,326 2%
0.40% 2,612,213 3.347444 8,744,237 3%
0.35% 234,282 3.362406 787,751 3%
0.30% 129,925 3.360590 436,625 3%
0.25% 1,367,867 3.356268 4,590,928 3%
0.20% 130,340 3.371265 439,411 3%
0.15% 8,610,938 3.362157 28,951,325 3%
Nationwide(R) S&P 500 Index Fund -
Institutional Service Class........... 0.80% 4,849,183 1.285348 6,232,888 (1)%
0.70% 1,183,224 1.287441 1,523,331 (1)%
0.55% 1,226,234 1.290588 1,582,563 (1)%
0.40% 397,950 1.293742 514,845 (1)%
0.35% 76,790 1.294795 99,427 (1)%
0.30% 23,085 1.295849 29,915 (1)%
0.25% 136,247 1.296904 176,699 (1)%
0.20% 99,022 1.297960 128,527 (1)%
0.15% 2,695,993 1.299016 3,502,138 (1)%
Nationwide(R) SAT -
Government Bond Fund.................. 0.95% 11,662 1.893837 22,086 4%
Nartionwide(R) SAT - Income Fund......... 0.80% 31,129 1.027506 31,985 3%
0.70% 13,816 1.028273 14,207 3%
0.55% 1,465 1.029425 1,508 3%
0.40% 854 1.030578 880 3%
0.35% 27 1.030963 28 3%
Nationwide(R) SAT - Money Market Fund.... 0.95% 61,307 1.455209 89,214 2%
</TABLE>
46
<PAGE> 47
<TABLE>
<CAPTION>
ASSET UNIT PERIOD
CHARGE UNITS VALUE AMOUNT RETURN(b)
------- ---------- ------ ------------ --------
<S> <C> <C> <C> <C> <C>
Nationwide(R) SAT -
Small Company Fund.................... 0.80% 2,301,952 1.565967 3,604,781 7%
0.70% 1,155,988 1.569796 1,814,665 7%
0.55% 759,860 1.548037 1,176,291 7%
0.40% 877,125 1.551916 1,361,224 7%
0.35% 44,533 1.579093 70,322 7%
0.30% 6,391 1.581843 10,110 7%
0.25% 110,025 1.555804 171,177 7%
0.20% 26,043 1.583049 41,227 8%
Nationwide(R) SAT - Total Return Fund..... 0.95% 45,166 3.847254 173,765 3%
Neuberger Berman AMT -
Growth Portfolio...................... 0.95% 18,953 4.448311 84,309 14%
Neuberger Berman AMT -
Limited Maturity Bond Portfolio....... 0.95% 10,898 1.259993 13,731 1%
Neuberger Berman AMT -
Partners Portfolio.................... 0.95% 30,731 2.368425 72,784 1%
Neuberger Berman Equity Funds(R) -
Guardian Fund......................... 0.40% 817,170 1.774804 1,450,317 1%
Neuberger Berman Equity Funds(R) -
Manhattan Fund........................ 0.95% 68,538 6.142215 420,975 13%
Neuberger Berman Equity Trust(R) -
Partners Trust........................ 0.80% 88.825 1.100621 97,763 (1)%
0.70% 105,927 1.102414 116,775 (1)%
0.55% 26,318 1.105110 29,084 (1)%
0.40% 29,772 1.107813 32,982 (1)%
0.25% 16,691 1.110522 18,536 (1)%
0.20% 47 1.111426 52 (1)%
Oppenheimer Global Fund - Class A........ 0.80% 4,047,487 1.901575 7,696,600 9%
0.70% 1,448,838 1.904670 2,759,558 9%
0.55% 1,114,509 1.909322 2,127,957 9%
0.40% 987,685 1.913985 1,890,414 10%
0.35% 164,237 1.915542 314,603 10%
0.30% 23,211 1.917100 44,498 10%
0.25% 329,561 1.918659 632,315 10%
0.20% 38,136 1.920220 73,230 10%
Prestige Balanced Fund -
Institutional Service Class........... 0.70% 426,682 1.161547 495,611 1%
0.60% 79,919 1.163440 92,981 1%
0.45% 71,251 1.166284 83,099 1%
0.25% 12,786 1.170087 14,961 1%
0.20% 7,766 1.171040 9,094 1%
0.00% 149,031 1.174859 175,090 1%
(Continued)
</TABLE>
47
<PAGE> 48
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
<TABLE>
<CAPTION>
ASSET UNIT PERIOD
CHARGE UNITS VALUE AMOUNT RETURN(b)
------- ---------- ------ ------------ --------
<S> <C> <C> <C> <C> <C>
Prestige International Fund -
Institutional Service Class........... 0.70% 191,231 1.251545 239,334 (5)%
0.60% 34,168 1.253584 42,832 (5)%
0.45% 60,729 1.256649 76,315 (5)%
0.25% 17,706 1.260748 22,323 (5)%
0.20% 340 1.261774 429 (5)%
0.15% 57,456 1.262802 72,556 (5)%
0.00% 81,046 1.265889 102,595 (5)%
Prestige Large Cap Growth Fund -
Institutional Service Class........... 0.70% 1,014,533 1.555958 1,578,571 2%
0.60% 278,300 1.558491 433,728 2%
0.45% 462,674 1.562298 722,835 2%
0.25% 126,156 1.567389 197,736 2%
0.20% 31,336 1.568665 49,156 2%
0.10% 59,365 1.571219 93,275 2%
0.00% 286,200 1.573777 450,415 2%
Prestige Large Cap Value Fund -
Institutional Service Class........... 0.70% 154,002 0.974272 150,040 (2)%
0.60% 66,790 0.975860 65,178 (2)%
0.45% 59,190 0.978247 57,902 (2)%
0.25% 24,334 0.981438 23,882 (2)%
0.20% 851 0.982238 836 (2)%
0.15% 632 0.983038 621 (2)%
0.10% 1,141 0.983838 1,123 (2)%
0.00% 189,221 0.985442 186,466 (2)%
Prestige Small Cap Fund -
Institutional Service Class........... 0.70% 546,698 1.318590 720,871 3%
0.60% 99,920 1.320739 131,968 3%
0.45% 136,056 1.323969 180,134 3%
0.25% 69,811 1.328288 92,729 3%
0.20% 35,526 1.329370 47,227 3%
0.15% 226 1.330453 301 3%
0.10% 24,629 1.331537 32,794 3%
0.00% 713,309 1.333707 951,345 3%
Putnam International Growth Fund -
Class A............................... 0.80% 96,832 1.017740 98,550 2%(a)
0.70% 16,728 1.017907 17,028 2%(a)
0.55% 821 1.018156 836 2%(a)
0.40% 13,201 1.018407 13,444 2%(a)
0.25% 61 1.018657 62 2%(a)
</TABLE>
48
<PAGE> 49
<TABLE>
<CAPTION>
ASSET UNIT PERIOD
CHARGE UNITS VALUE AMOUNT RETURN(b)
------- ---------- ------ ------------ --------
<S> <C> <C> <C> <C> <C>
Putnam Investors Fund - Class A.......... 0.95% 271,381 30.411929 8,253,220 (3)%
0.90% 17,342 30.467603 528,369 (3)%
0.80% 232,096 30.579255 7,097,323 (3)%
0.70% 65,261 30.691315 2,002,946 (3)%
0.55% 72,453 30.690991 2,223,654 (3)%
0.40% 30,442 30.692268 934,334 (3)%
0.35% 4,067 30.835513 125,408 (3)%
0.30% 10,707 30.819263 329,982 (3)%
0.25% 4,070 30.645702 124,728 10%
0.20% 1,238 30.912773 38,270 (3)%
0.15% 2,482,262 30.896483 76,693,166 (3)%
Putnam Voyager Fund - Class A............ 0.95% 26,559,132 7.323764 194,512,815 0%
0.90% 7,338,536 7.337172 53,844,101 0%
0.80% 7,963,772 7.364063 58,645,719 1%
0.65% 5,328,125 7.408406 39,472,913 1%
0.60% 495,436 7.394863 3,663,681 1%
0.50% 1,268,864 7.378935 9,362,865 1%
0.40% 5,459,073 7.391251 40,349,379 1%
0.35% 302,291 7.425759 2,244,740 1%
0.30% 266,042 7.429620 1,976,591 1%
SEI Index Funds -
S&P 500 Index Portfolio - Class E..... 0.95% 322,212 5.881884 1,895,214 (1)%
0.90% 50,665 5.892650 298,551 (1)%
0.40% 11,045,783 5.936104 65,568,917 (1)%
Seligman Growth Fund, Inc. - Class A..... 0.95% 77,964 23.906822 1,863,871 10%
0.90% 4,294 23.950580 102,844 10%
0.80% 14,360 24.038336 345,191 10%
0.65% 2,556 24.183040 61,812 10%
0.55% 652 24.126135 15,730 10%
0.40% 102,268 24.127119 2,467,432 11%
T. Rowe Price International Funds, Inc. -
International Stock Fund(R)........... 0.95% 7,189,472 2.701804 19,424,544 (4)%
0.90% 1,774,620 2.706752 4,803,456 (4)%
0.80% 1,814,485 2.716674 4,929,364 (4)%
0.65% 1,593,639 2.733036 4,355,473 (4)%
0.60% 138,395 2.728041 377,547 (4)%
0.55% 118,341 2.726602 322,669 (4)%
0.50% 140,228 2.722164 381,724 (4)%
0.40% 5,098,285 2.726710 13,901,545 (4)%
0.35% 67,913 2.739443 186,044 (4)%
(Continued)
</TABLE>
49
<PAGE> 50
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
<TABLE>
<CAPTION>
ASSET UNIT PERIOD
CHARGE UNITS VALUE AMOUNT RETURN(b)
------- ---------- ------ ------------ --------
<S> <C> <C> <C> <C> <C>
Templeton Foreign Fund - Class A......... 0.80% 16,553,277 2.313167 38,290,494 (5)%
0.70% 4,974,667 2.321649 11,549,431 (5)%
0.55% 4,925,324 2.315910 11,406,607 (5)%
0.40% 2,576,532 2.321715 5,981,973 (5)%
0.35% 358,814 2.335011 837,835 (5)%
0.30% 225,969 2.333780 527,362 (5)%
0.25% 529,463 2.327534 1,232,343 (5)%
0.20% 92,581 2.340863 216,719 (5)%
0.15% 2,168,298 2.331422 5,055,218 (5)%
Warburg Pincus Emerging Growth Fund -
Common Shares......................... 0.80% 1,426,987 1.541812 2,200,146 3%
0.70% 637,219 1.544386 984,112 4%
0.55% 403,259 1.548256 624,348 4%
0.40% 333,802 1.552135 518,106 4%
0.35% 286,493 1.553430 445,047 4%
0.30% 179 1.554727 278 4%
0.25% 138,713 1.556024 215,841 4%
0.20% 11,160 1.483139 16,552 4%
========= ========= --------------
Total Contract Owners' Equity.......... $4,393,962,052
==============
</TABLE>
(a) These investment options were not being utilized for the entire year.
Accordingly, the period return was computed for such period as the
investment option was utilized. These investment options became
available to the Account on May 1, 2000.
(b) The period return does not include contract charges satisfied by
surrendering units.
50
<PAGE> 51
<TABLE>
<CAPTION>
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
(5) VARIABLE ACCOUNT FEES
The following is a summary of the variable account fees for the period January 1, 2000 to June 30, 2000.
Percentage TOTAL AIMCon ACGrI ACIncGro ACIntlDisc ACSelect ACUltra ACValue ACVPBal ACVPCapAp
---------- ------- -------- ------- ---------- ----------- ---------- --------- --------- -------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95%.... $ 7,810,663 -- 505,855 -- -- 777 1,591,200 -- 132 665
0.90%.... 2,095,495 -- 163,160 -- -- -- 455,901 -- -- --
0.80%.... 2,656,981 -- 153,110 25,507 75,907 -- 322,250 14 -- --
0.70%.... 334,476 -- -- 7,681 31,452 -- -- 5 -- --
0.65%.... 846,841 -- 40,843 -- -- 13,947 185,814 -- -- --
0.60%.... 98,880 -- 7,350 -- -- -- 15,726 -- -- --
0.55%.... 197,411 -- -- 3,491 16,966 -- -- 3 -- --
0.50%.... 186,192 -- 19,612 -- -- -- 28,612 -- -- --
0.45%.... 5,309 -- -- -- -- -- -- -- -- --
0.40%.... 1,377,970 31,606 161,056 1,659 8,257 -- 252,214 1 -- --
0.35%.... 55,004 -- 3,410 329 2,889 -- 11,103 -- -- --
0.30%.... 25,792 -- 4,388 498 209 -- 5,332 -- -- --
0.25%.... 26,669 -- -- 300 7,833 -- -- -- -- --
0.20%.... 3,945 -- -- 32 327 -- -- -- -- --
0.15%.... 127,579 -- -- 1,004 27,687 -- -- -- -- --
0.10%.... 136 -- -- -- -- -- -- -- -- --
---------- ------- --------- -------- -------- ------- --------- ------ ----- ------
Total
variable
account
fees .... $15,849,343 31,606 1,058,784 40,501 171,527 14,724 2,868,152 23 132 665
========== ====== ========= ======== ======= ======= ========= ====== ====== ======
</TABLE>
<TABLE>
<CAPTION>
Percentage BdFdAm BrnCapSmCo DNYVenFd DeDecInc DryApp DryCsMgt DryPreMCap DryPrm3CZ Dry500Ix DrySRGro
---------- -------- ---------- -------- -------- ------ -------- ---------- --------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95%.... $ 35,136 -- -- 575 -- -- -- 983 286,163 213
0.90%.... 10,277 -- 1,955 274 -- 817 -- 107 68,952 --
0.80%.... 6,626 3,479 -- 52 10,566 -- 1,829 130,545 52,645 --
0.70%.... -- 1,398 -- -- 2,726 -- 516 32,815 -- --
0.65%.... 2,252 -- -- -- -- -- -- -- 40,763 --
0.60%.... 734 -- -- -- 53 -- -- -- 6,148 --
0.55%.... 466 828 -- -- 1,483 -- 356 17,322 2,169 --
0.50%.... 408 -- -- -- -- -- -- -- 7,674 --
0.45%.... -- -- -- -- -- -- -- -- -- --
0.40%.... 6,297 277 -- -- 329 -- 303 10,815 -- --
0.35%.... 223 462 -- -- 173 -- 5 2,532 2,247 --
0.30%.... -- 21 -- -- 442 -- 7 1,214 -- --
0.25%.... -- 253 -- -- 50 -- 35 1,026 -- --
0.20%.... -- 16 -- -- 18 -- 12 214 -- --
0.15%.... -- -- -- -- 179 -- 719 13,926 -- --
0.10%.... -- -- -- -- -- -- -- -- --
---------- ------- --------- -------- -------- ------ ------ ------- ------- ------
Total
variable
account
fees .... $ 62,419 6,734 1,955 954 15,966 817 3,782 211,499 466,761 213
========== ======= ========= ======== ======= ====== ===== ======= ======== ======
(Continued)
</TABLE>
51
<PAGE> 52
<TABLE>
<CAPTION>
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
Percentage DryStkIx EvIncGro FedBdFd FedUSGvt FAGrOppA FAHiYld FidAsMgr FidCapInc FidContr FidEqInc
---------- -------- -------- ------- -------- -------- ------- -------- --------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95% .......... $ 843 7,059 -- 15,094 -- -- 39,384 1,822 1,292,380 541,934
0.90% .......... -- 2,126 -- 4,154 -- -- 9,164 726 329,317 178,018
0.80% .......... -- 1,314 1,437 2,863 6,904 2,495 6,426 936 233,127 125,891
0.70% .......... -- -- 132 -- 1,506 577 -- -- -- --
0.65% .......... -- 170 -- 1,950 -- -- 4,830 234 143,824 54,026
0.60% .......... -- 26 -- 322 -- -- 274 -- 11,140 3,071
0.55% .......... -- 387 1,885 232 441 336 191 -- 6,462 1,929
0.50% .......... -- 50 -- 67 -- -- 1,230 103 19,267 22,113
0.45% .......... -- -- -- -- -- -- -- -- -- --
0.40% .......... -- 1,876 115 -- 260 13 -- 583 64,384 92,399
0.35% .......... -- 64 19 7 62 22 289 18 4,781 3,222
0.30% .......... -- -- -- -- 2 1 -- -- -- --
0.25% .......... -- -- 1 -- 25 61 -- -- -- --
0.20% .......... -- -- -- -- 4 -- -- -- -- --
0.15% .......... -- -- 59 -- 74 -- -- -- -- --
0.10% .......... -- -- -- -- -- -- -- -- -- --
------- -------- ------- -------- ------- -------- ------ ------ --------- ---------
Total
variable
account
fees............ $ 843 13,072 3,648 24,689 9,278 3,505 61,788 4,422 2,104,682 1,022,603
======= ======== ======= ======== ======= ======== ====== ====== ========= =========
</TABLE>
<TABLE>
<CAPTION>
Percentage FidGrInc FidMgIn FidVIPAM FidVIPEI FidVIPGr FidVIPHI FidVIPOv GroFdAm IncFdAm InvDynam
---------- -------- -------- -------- -------- -------- -------- -------- ------- ------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95% ... $ -- 913,544 292 1,081 1,872 154 930 119,101 48,348 --
0.90% ... -- 202,697 -- -- -- -- -- 32,103 11,260 --
0.80% ... -- 152,192 -- -- -- -- -- 23,596 9,919 123,964
0.70% ... -- -- -- -- -- -- -- -- -- 41,093
0.65% ... -- 83,996 -- -- -- -- -- 12,495 2,305 --
0.60% ... -- 8,421 -- -- -- -- -- 4,504 1,166 --
0.55% ... -- 3,240 -- -- -- -- -- 1,068 322 21,431
0.50% ... -- 21,549 -- -- -- -- -- 4,640 1,428 --
0.45% ... -- -- -- -- -- -- -- -- -- --
0.40% ... 41,614 180,048 -- -- -- -- -- -- -- 12,431
0.35% ... -- 3,544 -- -- -- -- -- 510 105 3,184
0.30% ... -- -- -- -- -- -- -- -- -- 1,404
0.25% ... -- -- -- -- -- -- -- -- -- 4,992
0.20% ... -- -- -- -- -- -- -- -- -- 535
0.15% ... -- -- -- -- -- -- -- -- -- 32,255
0.10% ... -- -- -- -- -- -- -- -- -- --
-------- -------- -------- -------- -------- -------- -------- ------- ------- --------
Total
variable
account
fees..... $ 41,614 1,569,231 292 1,081 1,872 154 930 198,017 74,853 241,289
========= ========= ======= ======== ======== ======== ======== ======= ======= ========
</TABLE>
52
<PAGE> 53
<TABLE>
<CAPTION>
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
Percentage InvEqInc InvTotRet JanFund JanWrldwde MASFIP MFSGrStk MFSGrOpp MFSHiInc MSIEqGroB NAATAggr
---------- -------- --------- ------- ---------- ------ -------- -------- -------- --------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95% ... $ 90,415 -- 1,004,661 3,834 16,043 24,572 28,317 4,311 -- --
0.90% ... 19,326 -- 299,465 7,426 2,189 4,718 18,203 589 -- --
0.80% ... 14,601 2,696 233,442 -- 2,979 1,242 9,810 674 4,615 --
0.70% ... -- 598 -- -- -- -- -- -- 1,415 11,976
0.65% ... 7,582 -- 121,793 -- 2,173 260 4,603 47 -- --
0.60% ... 776 -- 18,961 -- 608 -- -- -- -- 1,794
0.55% ... 1,086 204 -- -- 105 93 713 42 362 --
0.50% ... 1,168 -- 32,742 -- 125 18 173 -- -- --
0.45% ... -- -- -- -- -- -- -- -- -- 829
0.40% ... -- 226 -- -- -- 15,906 60,378 7,013 198 --
0.35% ... 299 223 3,930 -- 20 -- 159 7 13 --
0.30% ... -- 17 5,921 -- -- -- -- -- 16 --
0.25% ... -- 27 -- -- -- -- -- -- 131 90
0.20% ... -- 24 -- -- -- -- -- -- 3 373
0.15% ... -- -- -- -- -- -- -- -- 1,241 89
0.10% ... -- -- -- -- -- -- -- -- -- 58
-------- -------- -------- -------- -------- -------- -------- ------- ------- --------
Total
variable
account
fees ... $ 135,253 4,015 1,720,915 11,260 24,242 46,809 122,356 12,683 7,994 15,209
========= ========= ========= ======== ======== ======== ======== ======= ======= ========
</TABLE>
<TABLE>
<CAPTION>
Percentage NAATCons NAATMod NAATModAgg NAATModCon NWBdFd NWFund NWGroFd NWMyMkt NWIndxFd NSATGvtBd
---------- -------- ------- ---------- ---------- ------ ------ ------- ------- -------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95% ... $ -- -- -- -- 772 29,027 19,830 4,037 -- 100
0.90% ... -- -- -- -- -- 1,252 4,334 -- -- --
0.80% ... -- -- -- -- -- 299,178 4,619 139,070 24,687 --
0.70% ... 2,564 10,163 9,605 3,081 -- 66,752 -- 44,167 3,566 --
0.65% ... -- -- -- -- -- -- 6,183 -- -- --
0.60% ... 340 1,794 2,009 241 -- -- 6 -- -- --
0.55% ... -- -- -- -- -- 39,273 435 34,514 3,718 --
0.50% ... -- -- -- -- -- -- 281 -- -- --
0.45% ... 149 493 667 768 -- -- -- -- -- --
0.40% ... -- -- -- -- 194 19,922 9,070 17,873 705 --
0.35% ... -- -- -- -- -- 2,930 174 1,349 177 --
0.30% ... -- -- -- -- -- 1,673 -- 857 42 --
0.25% ... 59 62 167 59 -- 2,284 -- 6,152 121 --
0.20% ... 6 140 219 28 -- 793 -- 706 105 --
0.15% ... 18 67 111 38 -- 17,512 -- 21,868 2,365 --
0.10% ... -- -- 26 -- -- -- -- -- -- --
-------- ------- ---------- -------- ------ -------- ------- ------- -------- --------
Total
variable
account
fees .... $ 3,136 12,719 12,804 4,215 966 480,596 44,932 270,593 35,486 100
======== ======= ========== ======== ======= ======== ======= ======= ======== ========
(Continued)
</TABLE>
53
<PAGE> 54
<TABLE>
<CAPTION>
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
Percentage NSATInc NSATMyMkt NSATSmCo NSATTotRe NBAMTGro NBAMTLMat NBAMTPart NBGuard NBManhFd NBPartTr
---------- ------- --------- -------- --------- -------- --------- --------- ------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95% ... $ -- 548 -- 780 364 63 334 2,828 1,911 --
0.90% ... -- -- -- -- -- -- -- -- -- --
0.80% ... 192 -- 14,658 -- -- -- -- -- -- 424
0.70% ... 44 -- 5,745 -- -- -- -- -- -- 224
0.65% ... -- -- -- -- -- -- -- -- -- --
0.60% ... -- -- -- -- -- -- -- -- -- --
0.55% ... 2 -- 2,375 -- -- -- -- -- -- 76
0.50% ... -- -- -- -- -- -- -- -- -- --
0.45% ... -- -- -- -- -- -- -- -- -- --
0.40% ... -- -- 1,250 -- -- -- -- -- -- 47
0.35% ... -- -- 119 -- -- -- -- -- -- --
0.30% ... 5 -- 15 -- -- -- -- -- -- --
0.25% ... -- -- 128 -- -- -- -- -- -- 22
0.20% ... -- -- 39 -- -- -- -- -- -- --
0.15% ... -- -- -- -- -- -- -- -- -- --
0.10% .. -- -- -- -- -- -- -- -- -- --
------- --------- -------- --------- -------- --------- --------- ------ -------- -------
Total
variable
account
fees .... $ 243 548 24,329 780 364 63 334 2,828 1,911 793
======= ========= ======== ========= ======== ========= ========= ====== ======= =======
</TABLE>
<TABLE>
<CAPTION>
Percentage OppGlob PrBalI PrIntlI PrLgCapGrI PrLgCapVlI PrSmCapI PutIntGro PutInvFd PutVoyFd SEI500Ix
---------- -------- ------- -------- ---------- ---------- -------- --------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95% ... $ -- -- -- -- -- -- -- 72,284 983,019 9,184
0.90% ... -- -- -- -- -- -- -- 12,580 232,137 1,382
0.80% ... 23,032 -- -- -- -- -- 70 8,926 205,084 --
0.70% ... 6,210 1,638 777 5,199 529 2,499 3 540 -- --
0.65% ... -- -- -- -- -- -- -- 1,617 103,728 --
0.60% ... -- 164 59 764 127 244 -- 309 10,672 --
0.55% ... 3,522 -- -- -- -- -- 5 1,294 -- --
0.50% ... -- -- -- -- -- -- -- 292 23,615 --
0.45% ... -- 144 185 1,583 122 369 -- -- -- --
0.40% ... 2,036 -- -- -- -- -- 7 138,328 71,344 124,589
0.35% ... 351 -- -- -- -- -- -- 72 3,764 --
0.30% ... 28 -- -- -- -- -- -- 38 2,839 --
0.25% ... 658 16 50 77 29 90 -- 12 -- --
0.20% ... 40 6 -- 40 -- 34 -- 3 -- --
0.15% ... -- -- 34 -- -- -- -- 4,411 -- --
0.10% ... -- -- -- 38 -- 14 -- -- -- --
--------- ------- -------- ---------- ---------- -------- --------- -------- ---------- -------
Total
variable
account
fees ... . $ 35,877 1,968 1,105 7,701 807 3,250 85 240,706 1,636,202 135,155
========= ======= ======== ========== ========== ======== ========= ======== ========== ========
</TABLE>
54
<PAGE> 55
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
<TABLE>
<CAPTION>
Percentage SelGroFd TRIntStk TemForFd WPEmGro
---------- -------- -------- -------- -------
<S> <C> <C> <C> <C>
0.95% ... $ 8,317 99,575 - -
0.90% ... 342 20,544 - -
0.80% ... 1,335 16,589 169,666 5,798
0.70% ... - - 35,696 1,584
0.65% ... 99 11,307 - -
0.60% ... - 1,077 - -
0.55% ... 40 845 26,367 1,332
0.50% ... - 1,025 - -
0.45% ... - - - -
0.40% ... 4,665 26,853 10,321 508
0.35% ... - 312 1,429 476
0.30% ... - - 823 -
0.25% ... - - 1,586 273
0.20% ... - - 217 11
0.15% ... - - 3,922 -
0.10% ... - - - -
-------- -------- -------- -------
Total
variable
account
fees ... $ 14,798 178,127 250,027 9,982
======== ======== ======== =======
</TABLE>
55
<PAGE> 56
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
<TABLE>
<CAPTION>
The following is a summary of the variable account fees for the period January 1, 1999 to June 30, 1999.
Percentage TOTAL AIMCon ACGrI ACIncGro ACIntlDisc ACSelect ACUltra ACVPBal ACVPCapAp BdFdAm
---------- ----- ------ ----- -------- ---------- -------- ------- ----------------- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95%........... $ 6,085,919 -- 386,105 -- -- 724 1,226,797 84 371 45,491
0.90%........... 1,567,342 -- 127,881 -- -- -- 339,785 -- -- 10,687
0.80%........... 1,915,643 -- 134,199 8,894 1,763 -- 229,621 -- -- 7,853
0.70%........... 213,304 -- -- 1,438 684 -- -- -- -- --
0.65%........... 2,328,375 23,140 212,378 -- -- 11,997 400,584 -- -- 11,814
0.60%........... 72,364 -- 5,243 -- -- -- 12,613 -- -- 640
0.55%........... 157,081 -- -- 1,506 224 -- -- -- -- 498
0.50%........... 55,649 -- 5,217 -- -- -- 8,620 -- -- 265
0.45%........... 2,429 -- -- -- -- -- -- -- -- --
0.40%........... 171,535 1,766 13,113 840 159 -- 20,915 -- -- 701
0.35%........... 32,479 -- 2,006 125 104 -- 6,342 -- -- 108
0.30%........... 17,139 -- 3,294 20 -- -- 3,889 -- -- --
0.25%........... 4,983 -- -- 63 23 -- -- -- -- --
0.20%........... 1,941 -- -- 17 3 -- -- -- -- --
0.15%........... 5,851 -- -- -- 1 -- -- -- -- --
0.10%........... 31 -- -- -- -- -- -- -- -- --
----------- ------ ------- ------ ----- ------ --------- --- ---- ------
Total variable account fees $12,632,065 24,906 889,436 12,903 2,961 12,721 2,249,166 84 371 78,057
=========== ====== ======= ====== ===== ====== ========= === ==== ======
</TABLE>
<TABLE>
<CAPTION>
Percentage DNYVenFd DeDecInc DryApp DryCsMgt DryPreMCap DryPrm3CZ Dry500Ix DrySRGro DryStkIx EvIncGro
---------- -------- -------- ------ -------- ---------- --------- -------- ----------------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95%........... -- 990 -- -- -- 938 212,045 107 762 7,755
0.90%........... 1,654 356 -- 1,007 -- 633 51,999 -- -- 2,519
0.80%........... -- 21 6,524 -- 278 106,794 39,643 -- -- 1,486
0.70%........... -- -- 1,133 -- 59 26,989 -- -- -- --
0.65%........... -- -- -- -- -- 40,365 30,304 -- -- 2,947
0.60%........... -- 60 -- -- -- -- 6,661 -- -- 21
0.55%........... -- -- 1,253 -- 95 15,222 754 -- -- 448
0.50%........... -- -- -- -- -- -- 2,804 -- -- 20
0.45%........... -- -- -- -- -- -- -- -- -- --
0.40%........... -- -- 304 -- 36 7,325 -- -- -- 215
0.35%........... -- -- 119 -- 19 2,447 1,308 -- -- 46
0.30%........... -- -- 12 -- 3 989 -- -- -- --
0.25%........... -- -- 35 -- 10 390 -- -- -- --
0.20%........... -- -- 1 -- -- 121 -- -- -- --
0.15%........... -- -- -- -- -- 1,144 -- -- -- --
0.10%........... -- -- -- -- -- -- -- -- -- --
------ ----- ----- ----- ---- ------- ------- ---- ---- ------
Total variable account fees $1,654 1,427 9,381 1,007 500 203,357 345,518 107 762 15,457
====== ===== ===== ===== ==== ======= ======= ==== ==== ======
</TABLE>
56
<PAGE> 57
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
<TABLE>
<CAPTION>
Percentage FedBdFd FedUSGvt FAGrOppA FAHiYld FidAsMgr FidCapInc FidContr FidEqInc FidGrInc FidMgIn
---------- ------- -------- -------- ------- -------- --------- -------- -------- -------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95%........... -- 21,887 -- -- 29,666 2,107 1,119,161 646,037 16 803,703
0.90%........... -- 5,809 -- -- 6,004 649 261,973 213,096 -- 188,770
0.80%........... 984 2,937 3,258 623 3,889 1,002 197,281 142,021 -- 113,877
0.70%........... 309 -- 546 202 -- -- -- -- -- --
0.65%........... -- 1,687 -- -- 4,289 1,173 181,200 244,579 67,748 274,021
0.60%........... -- 329 -- -- 279 -- 10,266 3,874 -- 7,086
0.55%........... 1,624 407 343 14 151 -- 5,237 2,135 -- 2,788
0.50%........... -- 98 -- -- 512 35 6,594 10,426 -- 7,179
0.45%........... -- -- -- -- -- -- -- -- -- --
0.40%........... 7 -- 44 2 -- 67 5,430 12,604 5,196 15,939
0.35%........... -- 3 13 -- 176 29 3,114 3,148 -- 2,460
0.30%........... -- -- -- -- -- -- -- -- -- --
0.25%........... -- -- -- -- -- -- -- -- -- --
0.20%........... -- -- 2 -- -- -- -- -- -- --
0.15%........... -- -- -- -- -- -- -- -- -- --
0.10%........... -- -- -- -- -- -- -- -- -- --
------ ------ ----- ----- ------ ----- --------- --------- ------ ---------
Total variable account fees $2,924 33,157 4,206 841 44,966 5,062 1,790,256 1,277,920 72,960 1,415,823
====== ====== ===== ===== ====== ===== ========= ========= ====== =========
</TABLE>
<TABLE>
<CAPTION>
Percentage FidVIPAM FidVIPEI FidVIPGr FidVIPHI FidVIPOv GroFdAm IncFdAm InvDynam InvEqInc InvTotRet
---------- -------- -------- -------- -------- -------- ------- ------- -------- -------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95%........... $ 251 1,070 1,178 197 656 59,849 59,674 -- 89,222 --
0.90%........... -- -- -- -- -- 15,044 14,395 -- 18,746 --
0.80%........... -- -- -- -- -- 9,541 10,016 2,967 11,574 1,745
0.70%........... -- -- -- -- -- -- -- 769 -- 508
0.65%........... -- -- -- -- -- 5,885 3,467 -- 5,544 --
0.60%........... -- -- -- -- -- 2,432 1,383 -- 650 --
0.55%........... -- -- -- -- -- 430 377 530 1,023 145
0.50%........... -- -- -- -- -- 628 633 -- 381 --
0.45%........... -- -- -- -- -- -- -- -- -- --
0.40%........... -- -- -- -- -- -- -- 110 -- 150
0.35%........... -- -- -- -- -- 109 123 72 213 112
0.30%........... -- -- -- -- -- -- -- 14 -- 9
0.25%........... -- -- -- -- -- -- -- 21 -- --
0.20%........... -- -- -- -- -- -- -- 2 -- 3
0.15%........... -- -- -- -- -- -- -- -- -- --
0.10%........... -- -- -- -- -- -- -- -- -- --
----- ------ ----- ----- ------ ------ --------- --------- ------- ---------
Total variable account fees $ 251 1,070 1,178 197 656 93,918 90,068 4,485 127,353 2,672
===== ====== ===== ===== ====== ====== ========= ========= ======= =========
(Continued)
</TABLE>
57
<PAGE> 58
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
<TABLE>
<CAPTION>
Percentage JanFund JanWrldwde MASFIP MFSGrStk MFSGrOpp MFSHiInc MSIEqGroB NAATAggr NAATCons NAATMod
---------- ------- ---------- ------ -------- -------- -------- --------- -------- -------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95% ....................... $473,258 5,849 21,447 18,054 22,942 4,257 -- -- -- --
0.90% ....................... 113,903 -- 2,300 3,291 14,974 544 -- -- -- --
0.80% ....................... 109,435 -- 2,744 864 7,975 716 1,040 -- -- --
0.70% ....................... -- -- -- -- -- -- 224 8,503 3,054 6,565
0.65% ....................... 52,202 -- 1,639 17,608 72,307 11,507 -- -- -- --
0.60% ....................... 8,463 -- 590 -- -- -- -- 1,092 268 782
0.55% ....................... -- -- 90 70 535 41 73 -- -- --
0.50% ....................... 6,474 -- 60 5 47 -- -- -- -- --
0.45% ....................... -- -- -- -- -- -- -- 415 174 325
0.40% ....................... -- -- -- 1,316 5,004 811 42 -- -- --
0.35% ....................... 1,372 -- 10 -- 92 6 -- -- -- --
0.30% ....................... 3,217 -- -- -- -- -- 8 -- -- --
0.25% ....................... -- -- -- -- -- -- 15 92 130 38
0.20% ....................... -- -- -- -- -- -- -- 70 15 28
0.15% ....................... -- -- -- -- -- -- -- 10 1 12
0.10% ....................... -- -- -- -- -- -- -- 13 -- --
-------- ----- ------ ------ ------- ------ ----- ------ ----- -----
Total variable account fees ......... $768,324 5,849 28,880 41,208 123,876 17,882 1,402 10,195 3,642 7,750
======== ===== ====== ====== ======= ====== ===== ====== ===== =====
</TABLE>
<TABLE>
<CAPTION>
Percentage NAATModAgg NAATModCon NWBdFd NWFund NWGroFd NWMyMkt NWIndxFd NSATGvtBd NSATMyMkt NSATSmCo
---------- ---------- ---------- ------ ------ ------- ------- -------- --------- --------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95% ...................... $ -- -- 823 32,918 21,316 3,677 -- 93 412 --
0.90% ...................... -- -- -- 1,773 5,289 -- -- -- -- --
0.80% ...................... -- -- -- 342,332 5,658 118,764 9,477 -- -- 6,492
0.70% ...................... 4,353 2,216 -- 78,951 -- 38,761 1,130 -- -- 3,067
0.65% ...................... -- -- 288 102,883 20,757 54,489 -- -- -- --
0.60% ...................... 1,083 250 -- -- 23 -- -- -- -- --
0.55% ...................... -- -- -- 53,764 428 40,189 638 -- -- 1,197
0.50% ...................... -- -- -- -- 123 -- -- -- -- --
0.45% ...................... 409 605 -- -- -- -- -- -- -- --
0.40% ...................... -- -- 20 22,908 1,080 15,853 383 -- -- 520
0.35% ...................... -- -- -- 4,801 137 759 43 -- -- 29
0.30% ...................... -- -- -- 1,972 -- 1,339 10 -- -- 18
0.25% ...................... 53 29 -- 1,285 -- 2,105 24 -- -- 30
0.20% ...................... 139 19 -- 779 -- 576 7 -- -- 16
0.15% ...................... 24 5 -- 2,749 -- 1,629 -- -- -- --
0.10% ...................... 5 -- -- -- -- -- -- -- -- --
-------- ----- ------ ------- ------- ------- ------ ------ ----- ------
Total variable account fees......... $ 6,066 3,124 1,131 647,115 54,811 278,141 11,712 93 412 11,369
======== ===== ====== ======= ======= ======= ====== ====== ===== ======
</TABLE>
58
<PAGE> 59
NATIONWIDE DC VARIABLE ACCOUNT
NOTES TO FINANCIAL STATEMENTS, CONTINUED
(UNAUDITED)
<TABLE>
<CAPTION>
Percentage NSATTotRe NBAMTGro NBAMTLMat NBAMTPart NBGuard NBManhFd NBPartTr OppGlob PrBalI PrIntlI
---------- --------- -------- --------- --------- ------- -------- -------- -------- ------ -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95%................................ $ 728 172 55 308 -- 1,171 -- -- -- --
0.90%................................ -- -- -- -- -- -- -- -- -- --
0.80%................................ -- -- -- -- -- -- 233 2,294 -- --
0.70%................................ -- -- -- -- -- -- 121 371 534 231
0.65%................................ -- -- -- -- 4,080 -- -- -- -- --
0.60%................................ -- -- -- -- -- -- -- -- 88 38
0.55%................................ -- -- -- -- -- -- 18 195 -- --
0.50%................................ -- -- -- -- -- -- -- -- -- --
0.45%................................ -- -- -- -- -- -- -- -- 103 38
0.40%................................ -- -- -- -- 312 -- 4 145 -- --
0.35%................................ -- -- -- -- -- -- -- 25 -- --
0.30%................................ -- -- -- -- -- -- -- 7 -- --
0.25%................................ -- -- -- -- -- -- 2 21 -- 4
0.20%................................ -- -- -- -- -- -- -- -- -- --
0.15%................................ -- -- -- -- -- -- -- -- -- --
0.10%................................ -- -- -- -- -- -- -- -- -- --
------ ---- ----- ----- ----- ----- ---- ----- ---- ---
Total variable account fees ......... $ 728 172 55 308 4,392 1,171 378 3,058 725 311
====== ==== ===== ===== ===== ===== ==== ===== ==== ===
</TABLE>
<TABLE>
<CAPTION>
Percentage PrLgCapGrI PrLgCapVlI PrSmCapI PutInvFd PutVoyFd SEI500Ix SelGroFd TRIntStk TemForFd WPEmGro
---------- ---------- ---------- -------- -------- -------- -------- -------- -------- -------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
0.95%............................ $ -- -- -- 66,284 606,185 6,820 7,115 75,192 -- --
0.90%............................ -- -- -- 11,550 134,362 1,644 249 16,456 -- --
0.80%............................ -- -- -- 6,958 98,133 -- 1,126 14,026 148,281 304
0.70%............................ 975 160 750 -- -- -- -- -- 30,554 147
0.65%............................ -- -- -- 178,820 99,583 138,445 5,428 37,161 8,056 --
0.60%............................ 113 28 135 308 6,706 -- -- 860 -- --
0.55%............................ -- -- -- 731 -- -- 70 516 23,194 128
0.50%............................ -- -- -- 97 5,113 -- 10 308 -- --
0.45%............................ 253 11 96 -- -- -- -- -- -- --
0.40%............................ -- -- -- 13,339 3,024 11,314 398 2,242 7,831 66
0.35%............................ -- -- -- 44 1,712 -- -- 146 1,107 --
0.30%............................ -- -- -- -- 1,692 -- -- -- 646 --
0.25%............................ 30 8 14 -- -- -- -- -- 539 22
0.20%............................ 5 -- -- -- -- -- -- -- 137 1
0.15%............................ -- -- -- -- -- -- -- -- 276 --
0.10%............................ 6 5 2 -- -- -- -- -- -- --
------ ---- ----- ------- ------- ------- ------ ------- ------- ---
Total variable account fees...... $1,382 212 997 278,131 956,510 158,223 14,396 146,907 220,621 668
====== ==== ===== ======= ======= ======= ====== ======= ======= ===
</TABLE>
59
<PAGE> 60
NATIONWIDE LIFE INSURANCE COMPANY Bulk Rate
HOME OFFICE: ONE NATIONWIDE PLAZA - COLUMBUS, OHIO 43215-2220 U.S.Postage
PAID
Columbus, Ohio
Permit No. 521
Nationwide(R) is a registered federal service mark of Nationwide Mutual
Insurance Company
