<PAGE>
[General American logo appears here]
General American Life Insurance Company
700 Market Street
St. Louis, Missouri 63101
September 2000
Dear Policy Holder:
On October 30, 2000, a Special Meeting of Shareholders of the Alger Equity
Growth Series (the "Series") of the New England Zenith Fund will be held in
Boston for the purposes set forth in the attached Notice.
Because you invested money through your variable universal life policy in the
Alger Equity Growth Series you are entitled to direct us how to vote the shares
of the Series attributable to your policy. At the Special Meeting, General
American will vote the shares of the Series based on the instructions received
from its life insurance policy holders. You may give us voting instructions for
the number of shares of the Series attributable to your life insurance policy
as of the record date of August 31, 2000.
The matters to be considered at the meeting are described in the attached
Notice and Statement concerning the Special Meeting. After reviewing these
materials, please follow the enclosed Telephone Voting Instructions or
complete, sign, and date the enclosed Voting Instruction Form and promptly
return it in the enclosed postage-paid envelope. Your instructions and
participation are very important, and we appreciate your return of the form as
soon as possible. Thank you for your cooperation.