<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
RULE 24f-2 NOTICE
FOR
Provident Mutual Variable Growth Separate Account
Provident Mutual Variable Money Market Separate Account
Provident Mutual Variable Bond Separate Account
Provident Mutual Variable Managed Separate Account
Provident Mutual Variable Zero Coupon Bond Separate Account
Provident Mutual Variable Aggressive Growth Separate Account
Provident Mutual Variable International Separate Account
Provident Mutual Variable Separate Account
(Name of Registrant)
1050 Westlakes Drive
Berwyn, PA 19312
(Address of principal executive offices)
File Nos. 33-1331, 33-2625, 33-32478, 33-38463, 33-42133 and 33-55470
1. The following information is set forth pursuant to the requirements of
Rule 24f-2(b)(1):
(i). Fiscal year for which Notice is filed:
Fiscal year ended December 31, 1996
(ii). Number or amount of securities of the same class or series, if
any, which had been registered under the Securities Act of
1933 other than pursuant to Rule 24f-2 but which remained
unsold at the beginning of such fiscal year.
None
(iii). The number or amount of securities, if any, registered during
such fiscal year other than pursuant to Rule 24f-2:
None
(iv). The number or amount of securities sold during the fiscal
year:
<TABLE>
<S> <C> <C> <C>
Growth Money Market Bond Managed
Account Account Account Account
$54,267,012.77 $65,150,086.52 $5,760,795.99 $10,235,484.46
worth of worth of worth of worth of
policies(1) policies(2) policies(3) policies(4)
</TABLE>
<PAGE> 2
<TABLE>
<S> <C> <C> <C>
Aggressive International Zero Coupon
Growth Account Account Bond Account
$12,682,626.40 $17,219,374.03 4,970,116.59
worth of worth of worth of
policies(5) policies(6) policies(7)
Variable Account
Fidelity Equity Fidelity Growth Fidelity Asset Fidelity Index 500
Income Subaccount Subaccount Manager Subaccount Subaccount
$39,415,664.57 $50,470,195.01 $14,569,562.31 $25,094,476.71
worth of worth of worth of worth of
policies (8) policies (9) policies (10) policies (11)
Fidelity Investment
Fidelity High Fidelity Overseas Grade Bond Fidelity Contrafund
Income Subaccount Subaccount Subaccount Subaccount
$8,276,430.07 $11,851,806.82 $4,969,610.01 $5,460,398.80
worth of worth of worth of worth of
policies (12) policies (13) policies (14) policies (15)
Neuberger & Berman Neuberger & Berman
Neuberger & Berman Balanced Limited Maturity TCI Growth
Growth Subaccount Subaccount Bond Subaccount Subaccount
$12,759,260.11 $3,222,006.68 $2,150,508.72 $8,135,108.38
worth of worth of worth of worth of
policies (16) policies (17) policies (18) policies (19)
Alger American
Van Eck Gold & Small
Van Eck Worldwide Natural Resources Van Eck Emerging Capitalization
Bond Subaccount Subaccount Markets Subaccount Subaccount
$2,413,813.42 $1,443,633.16 $1,719,699.90 $7,261,464.09
worth of worth of worth of worth of
policies (20) policies (21) policies (22) policies (23)
</TABLE>
<PAGE> 3
(v). The number or amount of securities sold during such fiscal
year in reliance upon registration pursuant to Rule 24f-2
<TABLE>
<S> <C> <C> <C>
Growth Money Market Bond Managed
Account Account Account Account
$54,267,012.77 $65,150,086.52 $5,760,795.99 $10,235,484.46
worth of worth of worth of worth of
policies(1) policies(2) policies(3) policies(4)
Aggressive International Zero Coupon
Growth Account Account Bond Account
$12,682,626.40 $17,219,374.03 $4,970,116.59
worth of worth of worth of
policies(5) policies(6) policies(7)
Variable Account
Fidelity Equity Fidelity Asset
Income Subaccount Fidelity Growth Manager Subaccount Fidelity Index 500
$39,415,664.57 Subaccount $14,569,562.31 Subaccount
$50,470,195.01 $25,094,476.71
worth of worth of
policies (8) worth of policies (10) worth of
policies (9) policies (11)
Fidelity Investment
Fidelity High Fidelity Overseas Grade Bond Fidelity Contrafund
Income Subaccount Subaccount Subaccount Subaccount
$8,276,430.07 $11,851,806.82 $4,969,610.01 $5,460,398.80
worth of worth of worth of worth of
policies (12) policies (13) policies (14) policies (15)
Neuberger & Berman Neuberger & Berman
Neuberger & Berman Balanced Limited Maturity
Growth Subaccount Subaccount Bond Subaccount TCI Growth
$12,759,260.11 $3,222,006.68 $2,150,508.72 Subaccount
$8,135,108.38
worth of worth of worth of
policies (16) policies (17) policies (18) worth of
policies (19)
</TABLE>
<PAGE> 4
<TABLE>
<S> <C> <C> <C>
Van Eck Gold & Van Eck Emerging Alger American
Natural Resources Markets Subaccount Small
Van Eck Worldwide Subaccount $1,719,699.90 Capitalization
Bond Subaccount $1,443,633.16 Subaccount
$2,413,813.42 worth of $7,261,464.09
worth of policies (22)
worth of policies (21) worth of
policies (20) policies (23)
</TABLE>
2. An opinion of counsel with respect to the validity of the shares
accompanies this Notice.
3. Filing fee with respect to shares specified in 1(v) above:
<TABLE>
<S> <C> <C>
Growth Account $ (289.02) (1)
Money Market Account 2,078.23 (2)
Bond Account 197.63 (3)
Managed Account 96.51 (4)
Aggressive Growth Account 711.08 (5)
International Account 1,555.16 (6)
Zero Coupon Bond Account (73.73) (7)
Fidelity Equity Income Subaccount 5,710.34 (8)
Fidelity Growth Subaccount 6,763.04 (9)
Fidelity Asset Manager Subaccount 194.21 (10)
Fidelity Index 500 Subaccount 4,823.58 (11)
Fidelity High Income Subaccount 1,339.10 (12)
Fidelity Overseas Subaccount 1,733.08 (13)
Fidelity Investment Grade Bond Subaccount 761.12 (14)
Fidelity Contrafund Subaccount 1,326.21 (15)
Neuberger & Berman Growth Subaccount 1,570.56 (16)
Neuberger & Berman Balanced Subaccount 342.92 (17)
Neuberger & Berman Limited Maturity Subaccount 403.72 (18)
TCI Growth Subaccount 1,032.55 (19)
Van Eck Worldwide Subaccount 378.30 (20)
Van Eck Gold & Natural Resources Subaccount 202.29 (21)
Van Eck Emerging Markets Subaccount 449.74 (22)
Alger American Small Capitalization Subaccount 1,686.58 (23)
$32,993.19
</TABLE>
Minimum Filing Fee (Certified Check Enclosed): $32,993.19
DATED: February 26, 1997
PROVIDENT MUTUAL VARIABLE GROWTH SEPARATE ACCOUNT
PROVIDENT MUTUAL VARIABLE MONEY MARKET SEPARATE ACCOUNT
PROVIDENT MUTUAL VARIABLE BOND SEPARATE ACCOUNT
PROVIDENT MUTUAL VARIABLE MANAGED SEPARATE ACCOUNT
PROVIDENT MUTUAL VARIABLE ZERO COUPON BOND SEPARATE ACCOUNT
PROVIDENT MUTUAL VARIABLE AGGRESSIVE GROWTH SEPARATE ACCOUNT
<PAGE> 5
PROVIDENT MUTUAL VARIABLE INTERNATIONAL SEPARATE ACCOUNT
PROVIDENT MUTUAL VARIABLE SEPARATE ACCOUNT
BY: /s/ Adam Scaramella
----------------------------------
Adam Scaramella
- -------------------
(1) The actual aggregate sales price was $54,267,012.77, which consists of
101,782 policies allocating premiums to the Growth Account. During the fiscal
year ended December 31, 1996, the actual aggregate redemption price of Growth
Account policies redeemed was $55,220,782.90. (No portion of such aggregate
redemption price has been applied by the Registrant pursuant to Rule 24f-2(c) in
any filing made pursuant to Section 24(e)(1) of the Investment Company Act of
1940.) Pursuant to Rule 24f-2(c), the filing fee with respect to the policies in
calculated as follows:
$54,267,012.77 - 55,220,782.90 = $(953,770.13) / 3300 = $(289.02)
(2) The actual aggregate sales price was $65,150,086.52, which consists of
31,995 policies allocating premiums to the Money Market Account. During the
fiscal year ended December 31, 1996, the actual aggregate redemption price of
Money Market Account policies redeemed was $58,291,938.87. (No portion of such
aggregate redemption price has been applied by the Registrant pursuant to Rule
24f-2(c) in any filing made pursuant to Section 24(e)(1) of the Investment
Company Act of 1940.) Pursuant to Rule 24f-2(c), the filing fee with respect to
the policies is calculated as follows:
$65,150,086.52 - 58,291,938.87 = $6,858,147.65 / 3300 = $2,078.23
(3) The actual aggregate sales price was $5,760,795.99, which consists of 22,789
policies allocating premiums to the Bond Account. During the fiscal year ended
December 31, 1996, the actual aggregate redemption price of Bond Account
policies redeemed was $5,108,625.13. (No portion of such aggregate redemption
price has been applied by the Registrant pursuant to Rule 24f-2(c) in any filing
made pursuant to Section 24(e)(1) of the Investment Company Act of 1940.)
Pursuant to Rule 24f-2(c), the filing fee with respect to the policies is
calculated as follows:
$5,760,795.99 - 5,108,625.13 = $652,170.86 / 3300 = $197.63
(4) The actual aggregate sales price was $10,235,484.46, which consists of
23,816 policies allocating premiums to the Managed Account. During the fiscal
year ended December 31, 1995, the actual aggregate redemption price of Managed
Account policies redeemed was $9,917,015.60. (No portion of such aggregate
redemption price has been applied by the Registrant pursuant to Rule 24f-2(c) in
any filing made pursuant to Section 24(e)(1) of the Investment Company Act of
1940.) Pursuant to Rule 24f-2(c), the filing fee with respect to the policies is
calculated as follows:
$10,235,484.46 - 9,917,015.60 = $318,468.86 / 3300 = $96.51
<PAGE> 6
(5) The actual aggregate sales price was $12,682,626.40, which consists of
58,257 policies allocating premiums to the Aggressive Growth Account. During the
fiscal year ended December 31, 1996, the actual aggregate redemption price of
Aggressive Growth Account policies redeemed was $10,336,063.88. (No portion of
such aggregate redemption price has been applied by the Registrant pursuant to
Rule 24f-2(c) in any filing made pursuant to Section 24(e)(1) of the Investment
Company Act of 1940.) Pursuant to Rule 24f-2(c), the filing fee with respect to
the policies is calculated as follows:
$12,682,626.40 - 10,336,063.88 = $2,346,562.52 / 3300 = $711.08
(6) The actual aggregate sales price was $17,219,374.03, which consists of
78,794 policies allocating premiums to the International Account. During the
fiscal year ended December 31, 1996, the actual aggregate redemption price of
International Account policies redeemed was $12,087,335.05. (No portion of such
aggregate redemption price has been applied by the Registrant pursuant to Rule
24f-2(c) in any filing made pursuant to Section 24(e)(1) of the Investment
Company Act of 1940.) Pursuant to Rule 24f-2(c), the filing fee with respect to
the policies is calculated as follows:
$17,219,374.03 - 12,087,335.05 = $5,132,039.00 / 3300 = $1,555.16
(7) The actual aggregate sales price was $4,970,116.59, which consists of 10,807
policies allocating premiums to the Zero Coupon Bond Account. During the fiscal
year ended December 31, 1996, the actual aggregate redemption price of Zero
Coupon Bond Account policies redeemed was $5,213,455.72. (No portion of such
aggregate redemption price has been applied by the Registrant pursuant to Rule
24f-2(c) in any filing made pursuant to Section 24(e)(1) of the Investment
Company Act of 1940.) Pursuant to Rule 24f-2(c), the filing fee
with respect to the policies is calculated as follows:
$4,970,116.59 - 5,213,455.72 = $(243,339.13) / 3300 = $(73.73)
(8) The actual aggregate sales price was $39,415,664.57, which consists of
104,042 policies allocating premiums to the Fidelity Equity Income Subaccount.
During the fiscal year ended December 31, 1996, the actual aggregate redemption
price of Fidelity Equity Income Subaccount policies redeemed was $20,571,539.74.
(No portion of such aggregate redemption price has been applied by the
Registrant pursuant to Rule 24f-2(c) in any filing made pursuant to Section
24(e)(1) of the Investment Company Act of 1940.) Pursuant to Rule 24f- 2(c), the
filing fee with respect to the policies is calculated as follows:
$39,415,664.57 - 20,571,539.74 = $18,844,124.83 / 3300 = $5,710.34
(9) The actual aggregate sales price was $50,470,195.01, which consists of
135,971 policies allocating premiums to the Fidelity Growth Subaccount. During
the fiscal year ended December 31, 1996, the actual aggregate redemption price
of Fidelity Growth Subaccount policies redeemed was $28,152,165.02. (No portion
of such aggregate redemption price has been applied by the Registrant pursuant
to Rule 24f-2(c) in any filing made pursuant to Section 24(e)(1) of the
Investment Company Act of 1940.) Pursuant to Rule 24f-2(c), the filing fee with
respect to the policies is calculated as follows:
$50,470,195.01 - 28,152,165.02 = $22,318,029.99 / 3300 = $6,763.04
<PAGE> 7
(10) The actual aggregate sales price was $14,569,562.31, which consists of
42,817 policies allocating premiums to the Fidelity Asset Manager Subaccount.
During the fiscal year ended December 31, 1996, the actual aggregate redemption
price of Fidelity Asset Manager Subaccount policies redeemed was $13,928,676.20.
(No portion of such aggregate redemption price has been applied by the
Registrant pursuant to Rule 24f-2(c) in any filing made pursuant to Section
24(e)(1) of the Investment Company Act of 1940.) Pursuant to Rule 24f- 2(c), the
filing fee with respect to the policies is calculated as follows:
$14,569,562.31 - 13,928,676.20 = $640,886.11 / 3300 = $194.21
(11) The actual aggregate sales price was $25,094,476.71, which consists of
59,924 policies allocating premiums to the Fidelity Index 500 Subaccount. During
the fiscal year ended December 31, 1996, the actual aggregate redemption price
of Fidelity Index 500 Subaccount policies redeemed was $9,176,660.45. (No
portion of such aggregate redemption price has been applied by the Registrant
pursuant to Rule 24f-2(c) in any filing made pursuant to Section 24(e)(1) of the
Investment Company Act of 1940.) Pursuant to Rule 24f-2(c), the filing fee with
respect to the policies is calculated as follows:
$25,094,476.71 - 9,176,660.45 = $15,917,816.26 / 3300 = $4,823.58
(12) The actual aggregate sales price was $8,276,430.07, which consists of
15,473 policies allocating premiums to the Fidelity High Income Subaccount.
During the fiscal year ended December 31, 1996, the actual aggregate redemption
price of Fidelity High Income Subaccount policies redeemed was 3,857,409.84. (No
portion of such aggregate redemption price has been applied by the Registrant
pursuant to Rule 24f-2(c) in any filing made pursuant to Section 24(e)(1) of the
Investment Company Act of 1940.) Pursuant to Rule 24f-2(c), the filing fee with
respect to the policies is calculated as follows:
$8,276,430.07 - 3,857,409.84 = $4,419,020.23 / 3300 = $1,339.10
(13) The actual aggregate sales price was $11,851,806.82, which consists of
39,380 policies allocating premiums to the Fidelity Overseas Subaccount. During
the fiscal year ended December 31, 1996, the actual aggregate redemption price
of Fidelity Overseas Subaccount policies redeemed was $6,132,627.24. (No portion
of such aggregate redemption price has been applied by the Registrant pursuant
to Rule 24f-2(c) in any filing made pursuant to Section 24(e)(1) of the
Investment Company Act of 1940.) Pursuant to Rule 24f-2(c), the filing fee with
respect to the policies is calculated as follows:
$11,851,806.82 - 6,132,627.24 = $5,719,179.58 / 3300 = $1,733.08
(14) The actual aggregate sales price was $4,969,610.01, which consists of
16,800 policies allocating premiums to the Fidelity Investment Grade Bond
Subaccount. During the fiscal year ended December 31, 1996, the actual aggregate
redemption price of Fidelity Investment Grade Bond Subaccount policies redeemed
was $2,457,929.80. (No portion of such aggregate redemption price has been
applied by the Registrant pursuant to Rule 24f-2(c) in any filing made pursuant
to Section 24(e)(1) of the Investment Company Act of 1940.) Pursuant to Rule
24f-2(c), the filing fee with respect to the policies is calculated as follows:
$4,969,610.01 - 2,457,929.80 = $2,511,680.21 / 3300 = $761.12
<PAGE> 8
(15) The actual aggregate sales price was $5,460,398.80, which consists of 7,259
policies allocating premiums to the Fidelity Contrafund Subaccount. During the
fiscal year ended December 31, 1996, the actual aggregate redemption price of
Fidelity Contrafund Subaccount policies redeemed was $1,083,895.93. (No portion
of such aggregate redemption price has been applied by the Registrant pursuant
to Rule 24f-2(c) in any filing made pursuant to Section 24(e)(1) of the
Investment Company Act of 1940.) Pursuant to Rule 24f-2(c), the filing fee with
respect to the policies is calculated as follows:
$5,460,398.80 - 1,083,895.93 = $4,376,502.87 / 3300 = $1,326.21
(16) The actual aggregate sales price was $12,759,260.11, which consists of
47,570 policies allocating premiums to the Neuberger & Berman Growth Subaccount.
During the fiscal year ended December 31, 1996, the actual aggregate redemption
price of Neuberger & Berman Growth Subaccount policies redeemed was
$7,576,421.46. (No portion of such aggregate redemption price has been applied
by the Registrant pursuant to Rule 24f-2(c) in any filing made pursuant to
Section 24(e)(1) of the Investment Company Act of 1940.) Pursuant to Rule
24f-2(c), the filing fee with respect to the policies is calculated as follows:
$12,759,260.11 - 7,576,421.46 = $5,182,838.65 / 3300 = $1,570.56
(17) The actual aggregate sales price was $3,222,006.68, which consists of
11,629 policies allocating premiums to the Neuberger & Berman Balanced
Subaccount. During the fiscal year ended December 31, 1996, the actual aggregate
redemption price of Neuberger & Berman Balanced Subaccount policies redeemed was
$2,090,361.51. (No portion of such aggregate redemption price has been applied
by the Registrant pursuant to Rule 24f-2(c) in any filing made pursuant to
Section 24(e)(1) of the Investment Company Act of 1940.) Pursuant to Rule
24f-2(c), the filing fee with respect to the policies is calculated as follows:
$3,222,006.68 - 2,090,361.51 = $1,131,645.17 / 3300 = $342.92
(18) The actual aggregate sales price was $2,150,508.72, which consists of 4,385
policies allocating premiums to the Neuberger & Berman Limited Maturity Bond
Subaccount. During the fiscal year ended December 31, 1996, the actual aggregate
redemption price of Neuberger & Berman Limited Maturity Bond Subaccount policies
redeemed was $818,218.74. (No portion of such aggregate redemption price has
been applied by the Registrant pursuant to Rule 24f-2(c) in any filing made
pursuant to Section 24(e)(1) of the Investment Company Act of 1940.) Pursuant to
Rule 24f-2(c), the filing fee with respect to the policies is calculated as
follows:
$2,150,508.72 - 818,218.74 = $1,332,289.98 / 3300 = $403.72
(19) The actual aggregate sales price was $8,135,108.38, which consists of
35,709 policies allocating premiums to the TCI Growth Subaccount. During the
fiscal year ended December 31, 1996, the actual aggregate redemption price of
TCI Growth Subaccount policies redeemed was $4,727,704.09. (No portion of such
aggregate redemption price has been applied by the Registrant pursuant to Rule
24f-2(c) in any filing made pursuant to Section 24(e)(1) of the Investment
Company Act of 1940.) Pursuant to Rule 24f-2(c), the filing fee with respect to
the policies is calculated as follows:
$8,135,108.38 - 4,727,704.09 = $3,407,404.29 / 3300 = $1,032.55
<PAGE> 9
(20) The actual aggregate sales price was $2,413,813.42, which consists of
15,048 policies allocating premiums to the Van Eck Worldwide Bond Subaccount.
During the fiscal year ended December 31, 1996, the actual aggregate redemption
price of Van Eck Worldwide Bond Subaccount policies redeemed was $1,165,415.03.
(No portion of such aggregate redemption price has been applied by the
Registrant pursuant to Rule 24f-2(c) in any filing made pursuant to Section
24(e)(1) of the Investment Company Act of 1940.) Pursuant to Rule 24f-2(c), the
filing fee with respect to the policies is calculated as follows:
$2,413,813.42 - 1,165,415.03 = $1,248,398.39 / 3300 = $378.30
(21) The actual aggregate sales price was $1,443, 633.16, which consists of
7,563 policies allocating premiums to the Van Eck Gold and Natural Resources
Subaccount. During the fiscal year ended December 31, 1996, the actual aggregate
redemption price of Van Eck Gold and Natural Resources Subaccount policies
redeemed was $776,075.87. (No portion of such aggregate redemption price has
been applied by the Registrant pursuant to Rule 24f-2(c) in any filing made
pursuant to Section 24(e)(1) of the Investment Company Act of 1940.) Pursuant to
Rule 24f-2(c), the filing fee with respect to the policies is calculated as
follows:
$1,443,633.16 - 776,075.87 = $667,557.29 / 3300 = $202.29
(22) The actual aggregate sales price was $1,719,699.90, which consists of 4,375
policies allocating premiums to the Van Eck Emerging Markets Subaccount. During
the fiscal year ended December 31, 1996, the actual aggregate redemption price
of Van Eck Emerging Markets Subaccount policies redeemed was $235,542.96. (No
portion of such aggregate redemption price has been applied by the Registrant
pursuant to Rule 24f-2(c) in any filing made pursuant to Section 24(e)(1) of the
Investment Company Act of 1940.) Pursuant to Rule 24f-2(c), the filing fee with
respect to the policies is calculated as follows:
1,719,699.90 - 235,542.96 = $1,484,156.94 / 3300 = $449.74
(23) The actual aggregate sales price was $7,261,464.09, which consists of 9,780
policies allocating premiums to the Alger American Small Capitalization
Subaccount. During the fiscal year ended December 31, 1996, the actual aggregate
redemption price of Alger American Small Capitalization Subaccount policies
redeemed was $1,695,745.19. (No portion of such aggregate redemption price has
been applied by the Registrant pursuant to Rule 24f-2(c) in any filing made
pursuant to Section 24(e)(1) of the Investment Company Act of 1940.) Pursuant to
Rule 24f-2(c), the filing fee with respect to the policies is calculated as
follows:
$7,261,464.09 - 1,695,745.19 = $5,565,718.90 / 3300 = $1,686.58
<PAGE> 10
February 26, 1996
Provident Mutual Life Insurance Company
1050 Westlakes Drive
Berwyn, PA 19312
Re: Rule 24f-2 Notice for:
Provident Mutual Variable Growth Separate Account
Provident Mutual Variable Money Market Separate Account
Provident Mutual Variable Bond Separate Account
Provident Mutual Variable Managed Separate Account
Provident Mutual Variable Zero Coupon Bond Separate Account
Provident Mutual Variable Aggressive Growth Separate Account
Provident Mutual Variable International Separate Account
Provident Mutual Variable Separate Account
Registration Nos. 33-1331, 33-2625, 33-32478, 33-38463, 33-42133 and
33-55470
Dear Sirs/Madames:
I have served as counsel to Provident Mutual Life Insurance Company
in connection with the above-referenced Notice. In my opinion, the securities
being registered with respect to the Provident Mutual Variable Growth Separate
Account, Provident Mutual Variable Money Market Separate Account, Provident
Mutual Variable Bond Separate Account, Provident Mutual Variable Managed
Separate Account, Provident Mutual Variable Zero Coupon Bond Separate Account,
Provident Mutual Variable Aggressive Growth Separate Account, Provident Mutual
Variable International Separate Account and Provident Mutual Variable Separate
Account are legally issued, fully paid and non-assessable.
Very truly yours,
Adam Scaramella
AS/ja
